Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2023 | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2023 |
Entity Registrant Name | Credit Suisse AG |
Entity Central Index Key | 0001053092 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Consolidated statements of oper
Consolidated statements of operations - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest and dividend income | SFr 8,638 | SFr 4,685 |
Interest expense | (6,839) | (2,000) |
Net interest income | 1,799 | 2,685 |
Commissions and fees | 3,058 | 4,806 |
Trading revenues | (2,146) | (46) |
Other revenues | 14,391 | 685 |
Net revenues | 17,102 | 8,130 |
Provision for credit losses | 217 | (47) |
Compensation and benefits | 4,013 | 4,241 |
General and administrative expenses | 6,777 | 4,995 |
Commission expenses | 419 | 552 |
Goodwill impairment | 2,346 | 23 |
Restructuring expenses | 391 | 120 |
Total other operating expenses | 9,933 | 5,690 |
Total operating expenses | 13,946 | 9,931 |
Income/(loss) before taxes | 2,939 | (1,754) |
Income tax expense/(benefit) | 765 | 221 |
Net income/(loss) | 2,174 | (1,975) |
Net income/(loss) attributable to noncontrolling interests | (40) | (1) |
Net income/(loss) attributable to shareholders | SFr 2,214 | SFr (1,974) |
Consolidated statements of comp
Consolidated statements of comprehensive income - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Comprehensive income | ||
Net income/(loss) | SFr 2,174 | SFr (1,975) |
Gains/(losses) on cash flow hedges | 207 | (848) |
Foreign currency translation | (1,032) | 953 |
Unrealized gains/(losses) on securities | 1 | (6) |
Actuarial gains/(losses) | (45) | 4 |
Net prior service cost | 1 | 0 |
Gains/(losses) on liabilities related to credit risk | (3,985) | 3,533 |
Other comprehensive income/(loss), net of tax | (4,853) | 3,636 |
Comprehensive income/(loss) | (2,679) | 1,661 |
Comprehensive income/(loss) attributable to noncontrolling interests | (60) | 18 |
Comprehensive income/(loss) attributable to shareholders | SFr (2,619) | SFr 1,643 |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Assets | |||||
Cash and due from banks | [1] | SFr 100,124 | SFr 67,746 | SFr 158,700 | SFr 164,026 |
Interest-bearing deposits with banks | 339 | 387 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 52,769 | 58,798 | |||
Securities received as collateral, at fair value | 2,220 | 2,978 | |||
Trading assets, at fair value | 37,238 | 65,955 | |||
Total investment securities | 2,352 | 1,717 | |||
Other investments | 4,667 | 5,463 | |||
Net loans | 251,287 | 268,104 | |||
Goodwill | 472 | 2,868 | |||
Other intangible assets | 358 | 452 | |||
Brokerage receivables | 4,005 | 13,818 | |||
Other assets | 27,904 | 41,753 | |||
Total assets | 483,735 | 530,039 | |||
Liabilities and equity | |||||
Due to banks | 9,175 | 11,905 | |||
Customer deposits | 182,557 | 234,554 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 2,949 | 20,371 | |||
Obligation to return securities received as collateral, at fair value | 2,220 | 2,978 | |||
Trading liabilities, at fair value | 12,933 | 18,337 | |||
Short-term borrowings | 76,083 | 14,489 | |||
Long-term debt | 134,577 | 150,661 | |||
Brokerage payables | 1,800 | 11,442 | |||
Other liabilities | 15,308 | 16,826 | |||
Total liabilities | 437,602 | 481,563 | |||
Common shares | 4,400 | 4,400 | |||
Additional paid-in capital | 51,220 | 50,879 | |||
Retained earnings | 9,868 | 7,659 | |||
Accumulated other comprehensive income/(loss) | (19,900) | (15,067) | |||
Total shareholders' equity | 45,588 | 47,871 | |||
Noncontrolling interests | 545 | 605 | |||
Total equity | 46,133 | 48,476 | SFr 49,109 | SFr 48,087 | |
Total liabilities and equity | SFr 483,735 | SFr 530,039 | |||
[1]Includes restricted cash. |
Consolidated balance sheets (Pa
Consolidated balance sheets (Parenthetical) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 | |
Assets | |||
Cash and due from banks | [1] | SFr 100,124 | SFr 67,746 |
of which reported at fair value | 127 | 198 | |
Interest-bearing deposits with banks | 339 | 387 | |
of which reported at fair value | 16 | 14 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 52,769 | 58,798 | |
of which reported at fair value | 31,683 | 40,793 | |
Securities received as collateral, at fair value | 2,220 | 2,978 | |
of which encumbered | 2,011 | 2,220 | |
Trading assets, at fair value | 37,238 | 65,955 | |
of which encumbered | 10,904 | 21,874 | |
Total investment securities | 2,352 | 1,717 | |
of which reported at fair value | 854 | 796 | |
of which encumbered | 1,531 | 1,248 | |
Other investments | 4,667 | 5,463 | |
of which reported at fair value | 2,405 | 3,730 | |
Net loans | 251,287 | 268,104 | |
of which reported at fair value | 4,556 | 7,358 | |
of which encumbered | 55 | 103 | |
Allowance for credit losses | (1,522) | (1,362) | |
Goodwill | 472 | 2,868 | |
Other intangible assets | 358 | 452 | |
of which reported at fair value | 337 | 403 | |
Brokerage receivables | 4,005 | 13,818 | |
Brokerage receivables, Allowance for credit losses | 0 | (4,081) | |
Other assets | 27,904 | 41,753 | |
of which reported at fair value | 5,447 | 8,947 | |
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 4,018 | 8,378 | |
Other assets, Allowance for credit losses | (39) | (37) | |
Total assets | 483,735 | 530,039 | |
Liabilities and equity | |||
Due to banks | 9,175 | 11,905 | |
of which reported at fair value | 101 | 490 | |
Customer deposits | 182,557 | 234,554 | |
of which reported at fair value | 1,767 | 2,464 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 2,949 | 20,371 | |
of which reported at fair value | 1,330 | 14,133 | |
Obligation to return securities received as collateral, at fair value | 2,220 | 2,978 | |
Trading liabilities, at fair value | 12,933 | 18,337 | |
Short-term borrowings | 76,083 | 14,489 | |
of which reported at fair value | 4,409 | 6,783 | |
Long-term debt | 134,577 | 150,661 | |
of which reported at fair value | 40,071 | 57,919 | |
Brokerage payables | 1,800 | 11,442 | |
Other liabilities | 15,308 | 16,826 | |
of which reported at fair value | 1,632 | 2,286 | |
Total liabilities | 437,602 | 481,563 | |
Common shares | 4,400 | 4,400 | |
Additional paid-in capital | 51,220 | 50,879 | |
Retained earnings | 9,868 | 7,659 | |
Accumulated other comprehensive income/(loss) | (19,900) | (15,067) | |
Total shareholders' equity | 45,588 | 47,871 | |
Noncontrolling interests | 545 | 605 | |
Total equity | 46,133 | 48,476 | |
Total liabilities and equity | SFr 483,735 | SFr 530,039 | |
Additional share information | |||
Par value (in CHF per share) | [2] | SFr 1 | SFr 1 |
Issued shares (in shares) | [2] | 4,399,680,200 | 4,399,680,200 |
Common shares outstanding (in shares) | [2] | 4,399,680,200 | 4,399,680,200 |
Consolidated VIEs | |||
Assets | |||
Cash and due from banks | SFr 454 | SFr 229 | |
Trading assets, at fair value | 1,342 | 2,588 | |
Other investments | 694 | 781 | |
Net loans | 1,514 | 3,410 | |
Other assets | 1,654 | 4,594 | |
Total assets | 5,658 | 11,602 | |
Liabilities and equity | |||
Trading liabilities, at fair value | 13 | 1,063 | |
Short-term borrowings | 43 | 3,137 | |
Long-term debt | 1,609 | 2,096 | |
Other liabilities | 1,121 | 189 | |
Total liabilities | SFr 2,785 | SFr 6,485 | |
[1]Includes restricted cash.[2]The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2023. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Consolidated statements of chan
Consolidated statements of changes in equity - CHF (SFr) SFr in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | Total shareholders' equity | Total shareholders' equity Cumulative Effect, Period of Adoption, Adjustment [Member] | Common shares | Additional paid-in capital | Retained earnings | Retained earnings Cumulative Effect, Period of Adoption, Adjustment [Member] | Accumulated other comprehensive income | Noncontrolling interests | |
Balance at Dec. 31, 2021 | SFr 48,087 | SFr 47,390 | SFr 4,400 | SFr 47,417 | SFr 14,932 | SFr (19,359) | SFr 697 | ||||
Increase (decrease) in shareholders' equity | |||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (15) | (15) | |||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 8 | 8 | |||||||||
Net income/(loss) | (1,975) | (1,974) | (1,974) | (1) | |||||||
Total other comprehensive income/(loss), net of tax | 3,636 | 3,617 | 3,617 | 19 | |||||||
Share-based compensation, net of tax | (3) | (3) | (3) | ||||||||
Dividends on share-based compensation, net of tax | (15) | (15) | (15) | ||||||||
Dividends paid | (571) | (570) | (570) | ||||||||
Cash dividends paid to noncontrolling interest holders | (1) | ||||||||||
Change in scope of consolidation, net | (43) | (43) | |||||||||
Balance at Jun. 30, 2022 | 49,109 | 48,445 | 4,400 | 46,829 | 12,958 | (15,742) | 664 | ||||
Balance at Dec. 31, 2022 | 48,476 | SFr (5) | 47,871 | SFr (5) | 4,400 | 50,879 | 7,659 | SFr (5) | (15,067) | 605 | |
Increase (decrease) in shareholders' equity | |||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [1],[2] | (21) | (21) | ||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [2] | 22 | 22 | ||||||||
Net income/(loss) | 2,174 | 2,214 | 2,214 | (40) | |||||||
Total other comprehensive income/(loss), net of tax | (4,853) | (4,833) | (4,833) | (20) | |||||||
Share-based compensation, net of tax | 330 | 330 | 330 | ||||||||
Dividends on share-based compensation, net of tax | 9 | 9 | 9 | ||||||||
Dividends paid | (2) | ||||||||||
Cash dividends paid to noncontrolling interest holders | (2) | ||||||||||
Change in scope of consolidation, net | (3) | (3) | |||||||||
Other | 6 | 2 | 2 | 4 | |||||||
Balance at Jun. 30, 2023 | SFr 46,133 | SFr 45,588 | SFr 4,400 | SFr 51,220 | SFr 9,868 | SFr (19,900) | SFr 545 | ||||
[1]Distributions to owners in funds include the return of original capital invested and any related dividends.[2]Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". |
Consolidated statements of cash
Consolidated statements of cash flows - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Operating activities of continuing operations | |||
Net income/(loss) | SFr 2,174 | SFr (1,975) | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 4,559 | 685 | |
Provision for credit losses | 217 | (47) | |
Deferred tax provision/(benefit) | 331 | (48) | |
Share-based compensation | 397 | 494 | |
Debt Extinguishment | (14,113) | 0 | |
Valuation adjustments related to long-term debt | 2,949 | (8,971) | |
Share of net income/(loss) from equity method investments | (15) | (47) | |
Trading assets and liabilities, net | 21,211 | 13,988 | |
(Increase)/decrease in other assets | 15,765 | (95) | |
Increase/(decrease) in other liabilities | (10,331) | (5,939) | |
Other, net | 821 | (766) | |
Total adjustments | 21,791 | (746) | |
Net cash provided by/(used in) operating activities | 23,965 | (2,721) | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | 32 | 465 | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (5,829) | (4,344) | |
Purchase of investment securities | (712) | (81) | |
Proceeds from sale of investment securities | 0 | 45 | |
Maturities of investment securities | 22 | 213 | |
Investments in subsidiaries and other investments | (132) | (219) | |
Proceeds from sale of other investments | 144 | 320 | |
Proceeds from divestiture of businesses | 9,236 | 0 | |
(Increase)/decrease in loans | 18,072 | 6,591 | |
Proceeds from sale of loans | 2,262 | 1,384 | |
Capital expenditures for premises and equipment and other intangible assets | (249) | (634) | |
Other, net | 41 | 246 | |
Net cash provided by/(used in) investing activities | 22,887 | 3,986 | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | (51,947) | (1,726) | |
Increase/(decrease) in short-term borrowings | 61,630 | 388 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (16,878) | (6,931) | |
Issuances of long-term debt | 20,798 | 31,947 | |
Repayments of long-term debt | (26,255) | (29,245) | |
Dividends paid/capital repayments | (2) | (571) | |
Other, net | (64) | (488) | |
Net cash provided by/(used in) financing activities | (12,718) | (6,626) | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | (1,756) | 35 | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | 32,378 | (5,326) | |
Cash and due from banks at beginning of period | [1] | 67,746 | 164,026 |
Cash and due from banks at end of period | [1] | 100,124 | 158,700 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 340 | 479 | |
Cash paid for interest | SFr 7,136 | SFr 2,916 | |
[1]Includes restricted cash. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2023 | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2022 included in the Credit Suisse Annual Report 2022. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments, which, on a normal recurring basis, are necessary for a fair statement of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recently issued accounting stan
Recently issued accounting standards | 6 Months Ended |
Jun. 30, 2023 | |
Recently issued accounting standards | 2 Recently issued accounting standards Recently adopted accounting standards The following provides the most relevant recently adopted accounting standards. > Refer to “Note 2 – Recently issued accounting standards” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for a description of accounting standards adopted in 2022. ASC Topic 326 – Financial instruments – Credit losses In March 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-02, “Troubled Debt Restructurings and Vintage Disclosures” (ASU 2022-02), an update to Accounting Standards Codification (ASC) Topic 326 – Financial Instruments – Credit Losses. The amendments in ASU 2022-02 eliminated the accounting guidance for Troubled Debt Restructurings by creditors. The loan refinancing and restructuring guidance in ASC Topic 310 – Receivables applied to determine whether a modification resulted in a new loan or a continuation of an existing loan. The amendments enhanced disclosure requirements for certain loan refinancings and restructurings when a borrower was experiencing financial difficulty and required disclosure of current period gross write-offs by year of origination for financing receivables and net investments in leases. The amendments were effective for annual reporting periods beginning after December 15, 2022 and for the interim periods within those annual reporting periods. Early adoption was permitted, including in an interim period. The adoption of ASU 2022-02 on January 1, 2023, applying the modified retrospective approach, did not have a material impact on the Bank’s financial position, results of operations or cash flows. Standards to be adopted in future periods ASC Topic 820 – Fair Value Measurement In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions” (ASU 2022-03), an update to ASC Topic 820 – Fair Value Measurement. The amendments in ASU 2022-03 clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments require new disclosures related to equity securities subject to contractual sale restrictions, including the fair value of such equity securities, the nature and remaining duration of the corresponding restrictions and any circumstances that could cause a lapse in the restrictions. The amendments are effective for annual reporting periods beginning after December 15, 2023 and for the interim periods within those annual reporting periods. Early adoption is permitted, including in an interim period. The Bank is currently evaluating the impact of the adoption of ASU 2022-03 on the Bank’s financial position, results of operations and cash flows. |
Business developments
Business developments | 6 Months Ended |
Jun. 30, 2023 | |
Business developments and subsequent events | 3 Business developments and subsequent events Business developments Acquisition by UBS On June 12, 2023, the acquisition of Credit Suisse Group AG (the former parent company of Credit Suisse AG) by UBS Group AG (UBS) was consummated. The acquisition of Credit Suisse Group AG resulted in changes that had significant impacts on Credit Suisse’s US GAAP results in 6M23. These acquisition-related effects included fair valuation adjustments, impairments of internally developed software, integration costs, acquisition-related compensation expenses, the write-down of intangible assets and other acquisition-related adjustments. The acquisition resulted in changes in exit strategies and principal markets as well as changes of intent in connection with UBS’s plans for underlying positions or portfolios. The effect of these changes were fair valuation adjustments of CHF 2.2 billion in 6M23, including from asset reclassifications to held-for-sale and certain specific equity impairments. As a result of the acquisition, a detailed review of internally developed software applications and an assessment of their fair value has been performed reflecting the usability and useful life for UBS. Following this assessment, which included a number of applications that were found to be overlapping with UBS systems, an impairment of CHF 1.8 billion was recorded in 6M23. 6M23 was further impacted by certain compensation-related developments in connection with the acquisition. Credit Suisse recorded integration costs, which are defined as expenses that are temporary, incremental and directly related to the integration of UBS and Credit Suisse, of CHF 0.3 billion. The integration costs primarily related to compensation costs of internal staff and contractors substantially dedicated to integration activities and certain retention awards granted during the period. As a result of the alignment of certain Credit Suisse processes to those of UBS, including the variable incentive framework, acquisition-related compensation expenses were CHF 0.2 billion. Litigation provisions In 6M23, net litigation provisions of CHF 1.5 billion were recorded, mainly related to developments including settlements and new information in a number of previously disclosed legal matters. > Refer to “Note 25 - Litigation” for further information. Goodwill impairment Credit Suisse reported goodwill impairment charges of CHF 2.3 billion in 6M23, mostly recognized in Wealth Management and Asset Management. > Refer to “Note 14 - Goodwill” for further information. Compensation On April 5, 2023, the Swiss Federal Council instructed the Swiss Federal Department of Finance to cancel or reduce the outstanding variable remuneration for the top three levels of management at Credit Suisse. Under US GAAP accounting guidance, the nature of such a cancellation of deferred compensation required an acceleration of deferred compensation expense in 6M23 for the outstanding share-based portion of the compensation awards, with a corresponding credit to shareholders’ equity, and for the smaller impact from the cancellation of cash-based awards, a credit to the income statement for previously accrued expenses. The net impact of these cancellations and reductions of variable remuneration on Credit Suisse’s compensation expenses in 6M23 was CHF 90 million. Furthermore, 6M23 included the cancellation of the prior-year contingent capital awards (CCA) resulting in a credit of CHF 408 million recognized in deferred compensation. Write-down of additional tier 1 capital notes In March 2023, FINMA ordered that former Credit Suisse Group’s outstanding amount of additional tier 1 capital notes of nominal value of approximately CHF 16 billion and a fair value of approximately CHF 15 billion be written down to zero. At the Credit Suisse level, this led to a corresponding gain in 6M23 of CHF 14.1 billion recognized in other revenues. Liquidity developments Following the completion of the acquisition by UBS, Credit Suisse became part of the overall UBS liquidity and funding management. Credit Suisse now leverages the market access of UBS and engages in secured and unsecured intercompany transactions to facilitate funding between entities. After the deposit outflows experienced in the first half of 6M23, Credit Suisse saw deposit inflows of CHF 15 billion in the second half of 6M23. The SNB granted Credit Suisse access to liquidity facilities, including Emergency Liquidity Assistance (ELA), Emergency Liquidity Assistance Plus (ELA+) and the Public Liquidity Backstop (PLB), which has provided liquidity support to Credit Suisse, a portion of which was supported by default guarantees provided by the Swiss government. The liquidity situation and the ability to transfer funding between the UBS and Credit Suisse entities have allowed Credit Suisse to continue to repay the various liquidity facilities. All loans under the PLB were fully repaid by Credit Suisse as of the end of May 2023. As of June 30, 2023, the net amount of borrowings under the liquidity facilities was CHF 63 billion, which consisted of CHF 38 billion under ELA, fully collateralized by Swiss mortgages, and CHF 25 billion under ELA+. Credit Suisse AG fully repaid the ELA+ loans as of August 10, 2023. Credit Suisse AG is reliant on funding from UBS Group AG, which has provided a letter of support that confirms its intent to keep Credit Suisse AG in good standing and in compliance with its regulatory capital, liquidity requirements and debt covenants and to fully support its operating, investing and financing activities through at least September 30, 2024. Outflows in assets under management At the Credit Suisse level, net asset outflows in 6M23 were CHF 100 billion or 8% of assets under management as of the end of 2022. Net assets outflows slowed considerably following the March announcement of the acquisition by UBS. In the second half of 6M23, net asset outflows were CHF 39 billion. Securitized Products Group In 6M23, Credit Suisse completed the sale of a significant part of SPG to entities and funds managed by affiliates of Apollo. In connection with the initial closing of this transaction, Credit Suisse and Apollo entered into various ancillary agreements related to the transaction, including an investment management agreement, certain financing arrangements and a transition services agreement. In the first half of 6M23, Credit Suisse recognized a pre-tax gain of USD 0.8 billion as a result of the Apollo transaction. This gain was partially offset by losses on the valuation of certain financing arrangements associated with the Apollo transaction in the second half of 6M23. CS First Boston In April 2023, Credit Suisse Group AG and M. Klein & Co LLC mutually agreed to terminate the acquisition of The Klein Group, LLC (i.e., the investment banking business of M. Klein & Co. LLC) by Credit Suisse Group AG considering UBS’s acquisition of Credit Suisse Group AG. Subsequent events On August 31, 2023, UBS announced the creation of a Non-Core and Legacy (NCL) business division, which is expected to include Credit Suisse positions and businesses not aligned with UBS’s strategy and policies, such as the assets and liabilities of the Capital Release Unit and certain assets and liabilities of the Investment Bank, Wealth Management and Asset Management divisions. UBS aims to substantially complete the integration of Credit Suisse into UBS by the end of 2026. Also, as part of the integration of Credit Suisse, UBS plans to simplify the legal structure, including the merger of UBS AG and Credit Suisse AG planned for 2024. UBS also announced the proposed integration of Credit Suisse (Schweiz) AG with UBS Switzerland AG through a merger of the two banks. UBS expects to merge the two banks in 2024. The announced measures will have an impact on Credit Suisse’s divisions and may result in further impairments and write-downs, including relating to goodwill, software and real estate, certain fair value adjustments related to portfolios classified as held-for-sale, as well as tax impacts. In 3Q23, management decided to exit certain loan portfolios held in the NCL, which will result in a reclassification of these loans from held at amortized cost to held-for-sale and an expected loss in 3Q23 of approximately USD 1.6 billion. In addition, a decision was made to wind down certain management arrangements, which may result in a loss of up to USD 0.6 billion in 3Q23. |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2023 | |
Segment information | 4 Segment information The Bank is a global financial services company domiciled in Switzerland and, effective January 1, 2023, was organized into five divisions – Wealth Management, Swiss Bank, Asset Management, Investment Bank and the Capital Release Unit. The segment information reflects the Bank’s reportable segments and the Corporate Center, which are managed and reported on a pre-tax basis, as follows: ■ Wealth Management ■ Swiss Bank ■ Asset Management ■ Investment Bank ■ Capital Release Unit > Refer to “Note 3 – Business developments, significant shareholders and subsequent events” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Group’s divisional organization effective January 1, 2023. The Corporate Center includes operations such as bank financing, expenses for projects sponsored by the bank and certain expenses and revenues that have not been allocated to the business divisions. > Refer to “Note 4 – Segment information” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 6M23 6M22 Net revenues (CHF million) Wealth Management 1,655 2,641 Swiss Bank 1,845 2,223 Asset Management 155 630 Investment Bank 933 2,450 Capital Release Unit (1,275) 437 Corporate Center 14,566 (324) Adjustments 1 (777) 2 73 Net revenues 17,102 8,130 Income/(loss) before taxes (CHF million) Wealth Management (2,723) 147 Swiss Bank 156 888 Asset Management (1,401) 98 Investment Bank (2,400) (596) Capital Release Unit (3,181) (1,022) Corporate Center 13,339 (1,116) Adjustments 1 (851) (153) Income/(loss) before taxes 2,939 (1,754) 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. 2 Includes a gain of CHF 894 million from the write-down of additional tier 1 capital notes relating to Credit Suisse Group AG. Total assets end of 6M23 2022 Total assets (CHF million) Wealth Management 95,610 128,192 Swiss Bank 189,213 197,627 Asset Management 1,538 3,382 Investment Bank 86,514 74,932 Capital Release Unit 67,046 102,648 Corporate Center 47,734 24,577 Adjustments 1 (3,920) (1,319) Total assets 483,735 530,039 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. |
Net interest income
Net interest income | 6 Months Ended |
Jun. 30, 2023 | |
Net interest income | 5 Net interest income in 6M23 6M22 Net interest income (CHF million) Loans 4,105 2,479 Investment securities 38 (12) Trading assets, net of trading liabilities 1 823 1,264 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,565 619 Other 2,107 335 Interest and dividend income 8,638 4,685 Deposits (1,585) (330) Short-term borrowings (1,264) (28) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (481) (240) Long-term debt (3,023) (1,205) Other (486) (197) Interest expense (6,839) (2,000) Net interest income 1,799 2,685 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2023 | |
Trading revenues | 6 Trading revenues in 6M23 6M22 Trading revenues (CHF million) Interest rate products (1,728) (896) Foreign exchange products 332 (132) Equity/index-related products 92 380 Credit products (311) 1,039 Commodity and energy products (23) 40 Other products (508) (477) Trading revenues (2,146) (46) Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. > Refer to “Note 7 – Trading revenues” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on trading revenues and managing trading risks. |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2023 | |
Provision for credit losses | 7 Provision for credit losses in 6M23 6M22 Provision for credit losses (CHF million) Loans held at amortized cost 206 114 Other financial assets held at amortized cost 12 (147) 1 Off-balance sheet credit exposures (1) (14) Provision for credit losses 217 (47) 1 Primarily reflected a release of provision for credit losses of CHF (155) |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2023 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 8 Restructuring expenses In June 2023, the Bank terminated certain strategic actions announced on October 27, 2022, due to the acquisition of Credit Suisse Group AG by UBS. Further, the Bank completed the restructuring program announced on November 4, 2021 at the end of September 2022. Restructuring expenses of CHF 391 million and CHF 120 million were recognized in 6M23 and 6M22, respectively. Restructuring expenses may include severance expenses, other personnel-related charges, pension expenses and contract termination costs. Restructuring expenses by type in 6M23 6M22 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 160 105 of which severance expenses 88 27 of which accelerated deferred compensation 65 70 General and administrative-related expenses 231 15 of which pension expenses 15 1 Total restructuring expenses 391 120 Restructuring expenses by segment in 6M23 6M22 Restructuring expenses by segment (CHF million) Wealth Management 46 22 Swiss Bank 36 3 Asset Management 5 1 Investment Bank 150 32 Capital Release Unit 137 67 Corporate Center 48 1 Adjustments 1 (31) (6) Total restructuring expenses 391 120 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. Restructuring liabilities 6M23 6M22 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 114 0 114 19 0 19 Net additional charges 1 88 119 207 27 13 40 Utilization (156) (114) (270) (17) (13) (30) Balance at end of period 46 5 51 29 0 29 1 The following items for which expense accretion was accelerated in 6M23 and 6M22 due to the restructuring of the Bank were not included in the restructuring liabilities: unsettled share-based compensation of CHF 4 million and CHF 30 million, respectively, which remain classified as a component of total shareholders's equity; other personnel-related charges of CHF 68 million and CHF 48 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 15 million and CHF 1 million, which remain classified as pension liabilities; and accelerated accumulated depreciation and impairment of CHF 97 million and CHF 1 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2023 | |
Revenue from Contract with Customer [Text Block] | 9 Revenue from contracts with customers Contracts with customers and disaggregation of revenues in 6M23 6M22 Contracts with customers (CHF million) Investment and portfolio management 1,308 1,578 Other securities business 33 29 Underwriting 117 370 Brokerage 765 1,277 Other services 469 786 Total revenues from contracts with customers 2,692 4,040 Contract balances end of 6M23 2022 Contract balances (CHF million) Contract receivables 580 686 Contract liabilities 47 54 in 2Q23 1Q23 Revenue recognized (CHF million) Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 7 10 The Bank did not recognize any revenue in the reporting period from performance obligations satisfied in previous periods. There were no material net impairment losses on contract receivables in 6M23 and 6M22. The Bank’s contract terms are generally such that they do not result in any contract assets. Remaining performance obligations ASC Topic 606’s practical expedient allows the Bank to exclude from its remaining performance obligations disclosure any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). Upon review, the Bank determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 13 – Revenue from contracts with customers” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2023 | |
Investment securities | 10 Investment securities end of 6M23 2022 Investment securities (CHF million) Debt securities held-to-maturity 1,498 921 Debt securities available-for-sale 854 796 Total investment securities 2,352 1,717 Investment securities by type 6M23 2022 Allowance Gross Gross Allowance Gross Gross Investment securities by type (CHF million) Foreign governments 1,498 0 0 31 1,467 921 0 0 40 881 Debt securities held-to-maturity 1,498 1 0 0 31 1,467 921 1 0 0 40 881 Corporate debt securities 1,004 0 0 150 854 952 0 0 156 796 Debt securities available-for-sale 1,004 2 0 0 150 854 952 2 0 0 156 796 1 Excludes accrued interest on debt securities held-to-maturity of CHF 18 million and CHF 10 million as of the end of 6M23 and 2022, respectively, with no related allowance for credit losses. Accrued interest is reported in other assets in the consolidated balance sheet. 2 Excludes accrued interest on debt securities available-for-sale of CHF 4 million and CHF 1 million as of the end of 6M23 and 2022, respectively. Accrued interest is reported in other assets in the consolidated balance sheet. Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 6M23 (CHF million) Corporate debt securities 179 6 666 144 845 150 Debt securities available-for-sale 179 6 666 144 845 150 2022 (CHF million) Corporate debt securities 374 58 404 98 778 156 Debt securities available-for-sale 374 58 404 98 778 156 Unrealized losses on debt securities as of the end of 6M23 relate to thirteen high-quality debt security positions held for liquidity purposes. The Bank does not intend to sell these investments nor is it more likely than not that the Bank will be required to sell these securities before the recovery of their amortized cost basis, which may be at maturity. Management determined that the unrealized losses on these debt securities were attributable to changes in market valuation driven by interest rate movements and not to credit-related factors. As a result, no impairment charges were recorded in the consolidated statements of operations. > Refer to “Note 13 – Financial instruments measured at amortized cost and credit losses” for further information on debt securities held-to-maturity. Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M23 6M22 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 45 Realized losses 0 (6) Amortized cost, fair value and average yield of debt securities Debt securities Debt securities Average Average 6M23 (CHF million) Due within 1 year 0 0 0 8 8 0.53 Due from 1 to 5 years 1,498 1,467 3.67 285 251 0.14 Due from 5 to 10 years 0 0 0 711 595 0.70 Total debt securities 1,498 1 1,467 3.67 1,004 2 854 0.54 1 Excluded accrued interest on debt securities held-to-maturity of CHF 18 million. 2 Excluded accrued interest on debt securities available-for-sale of CHF 4 million. Allowance for credit losses on debt securities available-for-sale As of the end of 6M23 and 2022, the Bank had no allowance for credit losses on debt securities available-for-sale. > Refer to “Note 16 – Investment securities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2023 | |
Other investments | 11 Other investments end of 6M23 2022 Other investments (CHF million) Equity method investments 2,151 1,618 Equity securities (without a readily determinable fair value) 1 1,959 3,212 of which at net asset value 112 72 of which at measurement alternative 375 366 of which at fair value 1,430 2,727 of which at cost less impairment 42 47 Real estate held-for-investment 2 47 46 Life finance instruments 3 510 587 Total other investments 4,667 5,463 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M23 and 2022, real estate held-for-investment included foreclosed or repossessed real estate of CHF 21 million and CHF 20 million, respectively, of which CHF 21 million and CHF 20 million, respectively, were related to residential real estate. 3 Includes single premium immediate annuity contracts. Accumulated depreciation related to real estate held-for-investment amounted to CHF 25 million and CHF 24 million as of the end of 6M23 and 2022, respectively. No impairments were recorded on real estate held-for-investments in 6M23 and 6M22. Equity securities at measurement alternative in / end of 6M23 Cumulative 6M22 Impairments and adjustments (CHF million) Impairments and downward adjustments (12) (66) (4) Upward adjustments 0 147 0 > Refer to “Note 23 – Financial instruments” for further information on equity securities without a readily determinable fair value. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2023 | |
Loans | 12 Loans end of 6M23 2022 Loans (CHF million) Mortgages 104,202 107,484 Loans collateralized by securities 31,776 37,639 Consumer finance 5,877 5,701 Consumer 141,855 150,824 Real estate 23,153 25,463 Commercial and industrial loans 58,665 62,740 Financial institutions 26,964 27,955 Governments and public institutions 2,258 2,555 Corporate & institutional 111,040 118,713 Gross loans 252,895 269,537 of which held at amortized cost 248,339 262,179 of which held at fair value 4,556 7,358 Net (unearned income)/deferred expenses (86) (71) Allowance for credit losses (1,522) (1,362) Net loans 251,287 268,104 Gross loans by location (CHF million) Switzerland 158,830 166,982 Foreign 94,065 102,555 Gross loans 252,895 269,537 Impaired loan portfolio (CHF million) Non-performing loans 1,626 1,614 Non-interest-earning loans 286 338 Non-accrual loans 1,912 1,952 Restructured loans 1 – 484 Potential problem loans 1,323 977 Other impaired loans 1,323 1,461 Gross impaired loans 2 3,235 3,413 1 In connection with the adoption of new accounting guidance for loan modifications on January 1, 2023, the previous accounting guidance for troubled debt restructurings was superseded, with disclosures under the new accounting guidance applied prospectively. Accordingly, restructured loans were reclassified to either potential problem loans or non-impaired loans and are no longer presented as its own impaired loan category. 2 As of the end of 6M23 and 2022, CHF 102 million and CHF 130 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. > Refer to “Note 18 – Loans in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. > Refer to “Loans” in Note 1 – Summary of significant accounting policies in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on loans and categories of impaired loans. > Refer to “Note 13 – Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
CECL - Financial instruments me
CECL - Financial instruments measured at amortized cost and credit losses | 6 Months Ended |
Jun. 30, 2023 | |
Financial instruments measured at amortized cost and credit losses | 13 Financial instruments measured at amortized cost and credit losses This disclosure provides an overview of the Bank’s balance sheet positions that include financial assets carried at amortized cost that are subject to the current expected credit loss (CECL) accounting guidance. As of the end of 6M23, the Bank had no purchased financial assets with more than insignificant credit deterioration since origination. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the accounting of financial assets and off-balance sheet credit exposure subject to the CECL accounting guidance. Overview of financial instruments measured at amortized cost – by balance sheet position 6M23 2022 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 100,001 (4) 99,997 67,548 0 67,548 Interest-bearing deposits with banks 323 2 0 323 373 4 0 373 Securities purchased under resale agreements and securities borrowing transactions 21,086 0 21,086 18,005 4 0 18,005 Debt securities held-to-maturity 1,498 2 0 1,498 921 4 0 921 Loans 248,253 2,3 (1,522) 246,731 262,108 4,5 (1,362) 260,746 Brokerage receivables 4,005 0 4,005 17,899 (4,081) 13,818 Other assets 15,848 (39) 15,809 23,521 (37) 23,484 Total 391,014 (1,565) 389,449 390,375 (5,480) 384,895 1 Net of unearned income/deferred expenses, as applicable. 2 Excluded accrued interest in the total amount of CHF 592 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 18 million to debt securities held-to-maturity and CHF 573 million to loans. These accrued interest balances are reported in other assets. 3 Included interest of CHF 106 million on non-accrual loans which were reported as part of the loans' amortized cost balance. 4 Excluded accrued interest in the total amount of CHF 549 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 4 million to securities purchased under resale agreements and securities borrowing transactions, CHF 10 million to debt securities held-to-maturity and CHF 534 million to loans. These accrued interest balances are reported in other assets. 5 Included interest of CHF 102 million on non-accrual loans which were reported as part of the loans' amortized cost balance. Allowance for credit losses Estimating expected credit losses – overview > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on key elements and processes of estimating expected credit losses on non-impaired and impaired credit exposures. Macroeconomic scenarios The estimation and application of forward-looking information requires quantitative analysis and significant expert judgment. Since the acquisition by UBS, this estimation process and related analysis and procedures are embedded in a group-wide process. As part of this group-wide process, the Bank has aligned its scenarios, scenario weightings and model inputs to those used by UBS. As of the end of 6M23, the Bank’s estimation of expected credit losses is based on a discounted probability-weighted estimate that considers three future macroeconomic scenarios: a baseline scenario, a mild downside scenario (mild debt crisis) and a severe downside scenario (stagflationary geopolitical crisis). The baseline scenario represents the most likely outcome. The other scenarios represent more pessimistic outcomes. The scenarios are probability-weighted according to the Bank’s best estimate of their relative likelihood based on historical frequency, an assessment of the current business and credit cycles as well as the macroeconomic factor trends. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on macroeconomic scenarios applied by the Bank prior to the acquisition by UBS. The scenario design team within the Bank’s Enterprise Risk Management (ERM) function determines the macroeconomic factors (MEFs) and market projections that are relevant for the Bank’s three scenarios across the overall credit portfolio subject to the CECL accounting guidance. The scenario design team formulates the baseline and downside scenario projections used for the calculation of expected credit losses from group-internal forecasts obtained. For factors where no group-internal forecasts are available, the Bank’s global chief investment office in-house economic research forecasts and, where deemed appropriate, external sources such as the Bloomberg consensus of economist forecasts (covering the views of other investment banks and external economic consultancies), forecasts from nonpartisan think tanks, major central banks and multilateral institutions, such as the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and the World Bank are used. For factors where no group-established, in-house or credible external forecasts are available, an internal model is used to calibrate the baseline and/or downside scenario projections. These three scenario projections are subject to a review and challenge process and any feedback from this process is incorporated into the scenario projections by the ERM scenario design team. The CECL scenario design working group is the governance forum. The working group performs an additional review and challenge and subsequently approves the MEFs and related market projections. Current-period estimate of expected credit losses on non-impaired credit exposures One of the most significant judgments involved in estimating the Bank’s allowance for credit losses relates to the macroeconomic forecasts used to estimate credit losses over the forecast period, with modeled credit losses being driven primarily by a set of 37 MEFs. The key MEFs used in each of the macroeconomic scenarios for the calculation of the expected credit losses include, but are not limited to, GDP and industrial production growth rates. These MEFs are used in the portfolio- and region-specific CECL models and have been selected based on statistical criteria and expert judgment to explain expected credit losses. The table “Selected macroeconomic factors” includes the Bank’s forecast of selected MEFs for 2023 and 2024, as estimated as of the end of 6M23. The comparative information includes the forecast of MEFs selected and estimated as of the end of 2022. As of the end of 6M23, the forecast macroeconomic scenarios were weighted 60% 15% 25% 50% 40% 10% Selected macroeconomic factors Forecast Forecast US real GDP growth rate (%) Baseline 0.7 0.3 Mild debt crisis 0.4 (0.7) Stagflationary geopolitical crisis (1.2) (3.0) World industrial production (%) Baseline 1.2 3.3 Mild debt crisis (2.0) (2.0) Stagflationary geopolitical crisis (4.5) (1.4) China real GDP growth rate (%) Baseline 5.2 4.7 Mild debt crisis 3.7 2.4 Stagflationary geopolitical crisis 1.4 (0.9) EU nominal GDP growth rate (%) Baseline 4.1 3.7 Mild debt crisis 2.8 (0.7) Stagflationary geopolitical crisis 5.3 2.9 Swiss nominal GDP growth rate (%) Baseline 3.3 2.7 Mild debt crisis 1.7 (0.9) Stagflationary geopolitical crisis 2.4 1.6 Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. Selected macroeconomic factors (continued) Forecast Forecast US real GDP growth rate (%) Downside (1.7) 0.5 Baseline 0.9 1.5 Upside 1.2 2.0 World industrial production (%) Downside (6.8) 0.4 Baseline 1.2 1.9 Upside 3.9 3.9 China real GDP growth rate (%) Downside (0.9) 2.1 Baseline 4.5 4.9 Upside 6.2 5.8 EU nominal GDP growth rate (%) Downside 3.4 2.3 Baseline 5.2 4.1 Upside 5.5 3.8 Swiss nominal GDP growth rate (%) Downside 0.0 1.0 Baseline 2.7 2.0 Upside 3.2 2.1 Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. Expected credit losses are not solely derived from MEF projections. Model overlays based on expert judgment are also applied, considering historical loss experience and industry and counterparty reviews, and primarily impacting certain corporate and institutional loan portfolios. Such overlays are designed to address circumstances where in management’s judgment the CECL model outputs are overly sensitive to the effect of economic inputs that exhibit significant deviation from their long-term historical averages. Overlays may also be used to capture judgment on the economic uncertainty from global or regional developments with severe impacts on economies. The Bank’s non-specific allowance for expected credit losses on balance sheet and off-balance sheet credit exposures as of the end of 6M23 increased compared to the end of 2022. In 6M23, certain model overlays were recalibrated primarily in the Swiss Bank and Wealth Management, taking into account additional stress from the Bank’s alignment to UBS’s macroeconomic scenarios, scenario weightings and macroeconomic factor forecasts. Overlays are closely aligned with the UBS macroeconomic forecasts and associated scenario weightings. Loans held at amortized cost The Bank’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the main risk characteristics of the Bank’s loans held at amortized cost. Allowance for credit losses – loans held at amortized cost 6M23 6M22 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 359 1,007 1,366 1 357 939 1,296 Current-period provision for expected credit losses 81 172 253 43 92 135 of which provisions for interest 2 17 30 47 10 11 21 Gross write-offs (35) (44) (79) (26) (69) (95) Recoveries 4 0 4 4 3 7 Net write-offs (31) (44) (75) (22) (66) (88) Foreign currency translation impact and other adjustments, net (7) (15) (22) 5 11 16 Balance at end of period 402 1,120 1,522 383 976 1,359 of which individually evaluated 275 664 939 281 544 825 of which collectively evaluated 127 456 583 102 432 534 1 Includes a net impact of CHF 4 million from the adoption of new accounting guidance for loan modifications on January 1, 2023, all of which are reflected in corporate & institutional loans. 2 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. Gross write-offs of CHF 79 million in 6M23 compared to gross write-offs of CHF 95 million in 6M22. In 6M23, gross write-offs in corporate & institutional loans mainly included individual positions in small and medium-sized enterprises, ship finance and aviation finance. Write-offs in consumer loans included primarily Swiss consumer finance loans and a write-off in Swiss mortgages. In 6M22, gross write-offs in corporate & institutional loans mainly reflected the sale of a facility relating to a coal mining company, an exposure to a financial institution impacted by sanctions imposed in connection with Russia’s invasion of Ukraine and individual positions in ship finance, small and medium-sized enterprises and other businesses. Write-offs in consumer loans were mainly related to Swiss consumer finance loans. Purchases, reclassifications and sales – loans held at amortized cost 6M23 6M22 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 19 2,302 2,321 16 2,312 2,328 Reclassifications from loans held-for-sale 2 0 621 621 0 95 95 Reclassifications to loans held-for-sale 3 0 1,312 1,312 0 1,480 1,480 Sales 3 0 606 606 0 1,283 1,283 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Reflects loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held at amortized cost. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Debt securities held-to-maturity In 6M23, the Bank purchased foreign government debt securities held-to-maturity amounting to CHF 630 million, all related to a portfolio of US Treasury securities. The Bank’s debt securities held-to-maturity with a carrying value of CHF 1,498 million and CHF 921 million as of the end of 6M23 and 2022, respectively, represent a portfolio of US Treasury securities, all rated “AAA” based on the Bank’s internal counterparty rating. > Refer to “Note 10 – Investment securities” for further information. Other financial assets The Bank’s other financial assets include certain balance sheet positions held at amortized cost, each representing its own portfolio segment. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the main risk characteristics of the Bank’s other financial assets held at amortized cost. In 6M23, gross write-offs of other financial assets of CHF 4,031 million primarily included brokerage receivables related to Archegos. In 6M22, the Bank purchased other financial assets held at amortized cost amounting to CHF 381 million, respectively, primarily related to mortgage servicing advances. Allowance for credit losses – other financial assets held at amortized cost 6M23 6M22 Allowance for credit losses (CHF million) Balance at beginning of period 4,118 4,214 Current-period provision for expected credit losses 12 (147) Gross write-offs (4,031) (4) Recoveries 0 0 Net write-offs (4,031) (4) Foreign currency translation impact and other adjustments, net (56) 186 Balance at end of period 43 4,249 of which individually evaluated 20 4,230 of which collectively evaluated 23 19 Credit quality information > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Bank’s monitoring of credit quality and internal ratings. Credit quality of loans held at amortized cost The following table presents the Bank’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade” that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2023 / 2022 5,118 394 16 5,528 0 12,501 1,540 8 14,049 2022 / 2021 11,914 1,394 11 13,319 0 21,627 1,396 45 23,068 2021 / 2020 19,465 1,167 56 20,688 0 12,869 1,111 19 13,999 2020 / 2019 12,173 996 76 13,245 0 10,029 1,271 67 11,367 2019 / 2018 9,539 1,209 65 10,813 0 6,609 650 36 7,295 Prior years 37,618 1,910 168 39,696 4 34,525 1,931 210 36,666 Total term loans 95,827 7,070 392 103,289 4 98,160 7,899 385 106,444 Revolving loans 187 720 6 913 0 229 807 4 1,040 Total 96,014 7,790 398 104,202 4 98,389 8,706 389 107,484 Loans collateralized by securities 2023 / 2022 291 460 0 751 0 562 552 0 1,114 2022 / 2021 321 85 0 406 0 1,496 381 0 1,877 2021 / 2020 1,341 330 0 1,671 0 307 721 0 1,028 2020 / 2019 101 100 0 201 0 35 143 0 178 2019 / 2018 1 150 0 151 0 16 25 0 41 Prior years 730 130 0 860 0 803 188 0 991 Total term loans 2,785 1,255 0 4,040 0 3,219 2,010 0 5,229 Revolving loans 1 25,194 2,278 264 27,736 0 30,023 2,124 263 32,410 Total 27,979 3,533 264 31,776 0 33,242 4,134 263 37,639 Consumer finance 2023 / 2022 1,824 584 1 2,409 19 2,135 1,005 8 3,148 2022 / 2021 1,061 515 16 1,592 0 650 334 15 999 2021 / 2020 500 279 17 796 0 307 200 15 522 2020 / 2019 244 183 15 442 0 120 183 18 321 2019 / 2018 79 134 17 230 0 26 87 15 128 Prior years 26 128 52 206 12 14 80 44 138 Total term loans 3,734 1,823 118 5,675 31 3,252 1,889 115 5,256 Revolving loans 88 24 76 188 0 318 42 69 429 Total 3,822 1,847 194 5,863 31 3,570 1,931 184 5,685 Consumer – total 2023 / 2022 7,233 1,438 17 8,688 19 15,198 3,097 16 18,311 2022 / 2021 13,296 1,994 27 15,317 0 23,773 2,111 60 25,944 2021 / 2020 21,306 1,776 73 23,155 0 13,483 2,032 34 15,549 2020 / 2019 12,518 1,279 91 13,888 0 10,184 1,597 85 11,866 2019 / 2018 9,619 1,493 82 11,194 0 6,651 762 51 7,464 Prior years 38,374 2,168 220 40,762 16 35,342 2,199 254 37,795 Total term loans 102,346 10,148 510 113,004 35 104,631 11,798 500 116,929 Revolving loans 25,469 3,022 346 28,837 0 30,570 2,973 336 33,879 Total 127,815 13,170 856 141,841 35 135,201 14,771 836 150,808 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2023 / 2022 1,481 1,358 31 2,870 0 3,601 2,499 5 6,105 2022 / 2021 2,538 1,405 123 4,066 0 7,001 2,441 0 9,442 2021 / 2020 5,422 1,920 0 7,342 0 3,071 855 4 3,930 2020 / 2019 2,726 873 5 3,604 0 959 297 56 1,312 2019 / 2018 909 263 41 1,213 0 698 219 1 918 Prior years 2,522 384 24 2,930 0 2,109 217 24 2,350 Total term loans 15,598 6,203 224 22,025 0 17,439 6,528 90 24,057 Revolving loans 502 309 148 959 0 694 281 125 1,100 Total 16,100 6,512 372 22,984 0 18,133 6,809 215 25,157 Commercial and industrial loans 2023 / 2022 5,766 7,253 144 13,163 5 7,858 11,181 263 19,302 2022 / 2021 3,208 5,198 117 8,523 12 3,576 4,204 212 7,992 2021 / 2020 2,791 3,359 90 6,240 19 1,810 2,251 178 4,239 2020 / 2019 1,604 1,674 166 3,444 0 1,566 2,359 130 4,055 2019 / 2018 1,203 1,901 36 3,140 0 742 1,343 161 2,246 Prior years 2,360 2,781 262 5,403 2 1,619 2,355 204 4,178 Total term loans 16,932 22,166 815 39,913 38 17,171 23,693 1,148 42,012 Revolving loans 9,408 6,208 287 15,903 5 10,277 6,799 278 17,354 Total 26,340 28,374 1,102 55,816 43 27,448 30,492 1,426 59,366 Financial institutions 2023 / 2022 5,964 681 41 6,686 0 4,480 1,026 90 5,596 2022 / 2021 1,078 597 2 1,677 0 2,850 856 0 3,706 2021 / 2020 1,976 397 0 2,373 0 1,034 67 0 1,101 2020 / 2019 968 43 0 1,011 0 602 7 0 609 2019 / 2018 340 4 0 344 0 521 2 1 524 Prior years 1,166 40 1 1,207 0 (940) 71 1 (868) Total term loans 11,492 1,762 44 13,298 0 8,547 2,029 92 10,668 Revolving loans 10,907 810 96 11,813 1 10,111 822 110 11,043 Total 22,399 2,572 140 25,111 1 18,658 2,851 202 21,711 Governments and public institutions 2023 / 2022 62 20 0 82 0 147 22 0 169 2022 / 2021 442 4 0 446 0 458 35 0 493 2021 / 2020 101 31 0 132 0 126 40 0 166 2020 / 2019 124 33 0 157 0 97 1 10 108 2019 / 2018 96 1 11 108 0 55 0 0 55 Prior years 182 9 1 192 0 171 15 1 187 Total term loans 1,007 98 12 1,117 0 1,054 113 11 1,178 Revolving loans 10 1 0 11 0 9 0 0 9 Total 1,017 99 12 1,128 0 1,063 113 11 1,187 Corporate & institutional – total 2023 / 2022 13,273 9,312 216 22,801 5 16,086 14,728 358 31,172 2022 / 2021 7,266 7,204 242 14,712 12 13,885 7,536 212 21,633 2021 / 2020 10,290 5,707 90 16,087 19 6,041 3,213 182 9,436 2020 / 2019 5,422 2,623 171 8,216 0 3,224 2,664 196 6,084 2019 / 2018 2,548 2,169 88 4,805 0 2,016 1,564 163 3,743 Prior years 6,230 3,214 288 9,732 2 2,959 2,658 230 5,847 Total term loans 45,029 30,229 1,095 76,353 38 44,211 32,363 1,341 77,915 Revolving loans 20,827 7,328 531 28,686 6 21,091 7,902 513 29,506 Total 65,856 37,557 1,626 105,039 44 65,302 40,265 1,854 107,421 Total loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2023 / 2022 20,506 10,750 233 31,489 24 31,284 17,825 374 49,483 2022 / 2021 20,562 9,198 269 30,029 12 37,658 9,647 272 47,577 2021 / 2020 31,596 7,483 163 39,242 19 19,524 5,245 216 24,985 2020 / 2019 17,940 3,902 262 22,104 0 13,408 4,261 281 17,950 2019 / 2018 12,167 3,662 170 15,999 0 8,667 2,326 214 11,207 Prior years 44,604 5,382 508 50,494 18 38,301 4,857 484 43,642 Total term loans 147,375 40,377 1,605 189,357 73 148,842 44,161 1,841 194,844 Revolving loans 46,296 10,350 877 57,523 6 51,661 10,875 849 63,385 Total loans to third parties 193,671 50,727 2,482 246,880 79 200,503 55,036 2,690 258,229 Total loans to entities under common control 1,426 33 0 1,459 0 3,920 30 0 3,950 Total 195,097 50,760 2,482 248,339 1 79 204,423 55,066 2,690 262,179 1 1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively. Credit quality of other financial assets held at amortized cost The following table presents the Bank’s carrying value of other financial assets held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade”, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2023 / 2022 0 0 0 0 0 0 0 0 0 2022 / 2021 0 9 0 9 0 0 7 0 7 2021 / 2020 0 0 0 0 0 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 0 47 0 47 Prior years 0 29 0 29 0 0 0 0 0 Total term positions 0 38 0 38 0 0 54 0 54 Revolving positions 0 1,417 0 1,417 0 0 1,711 0 1,711 Total 0 1,455 0 1,455 0 0 1,765 0 1,765 Includes primarily mortgage servicing advances and failed purchases. Past due financial assets Generally, a financial asset is deemed past due if the principal and/or interest payment has not been received on its due date. Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M23 (CHF million) Mortgages 103,687 143 85 16 271 515 104,202 Loans collateralized by securities 31,483 4 1 4 284 293 31,776 Consumer finance 5,403 232 14 56 158 460 5,863 Consumer 140,573 379 100 76 713 1,268 141,841 Real estate 22,679 31 101 0 173 305 22,984 Commercial and industrial loans 54,743 424 235 40 374 1,073 55,816 Financial institutions 24,729 121 31 93 137 382 25,111 Governments and public institutions 1,113 3 1 0 11 15 1,128 Corporate & institutional 103,264 579 368 133 695 1,775 105,039 Total loans to third parties 243,837 958 468 209 1,408 3,043 246,880 Total loans to entities under common control 1,459 0 0 0 0 0 1,459 Total loans held at amortized cost 245,296 958 468 209 1,408 3,043 248,339 1 2022 (CHF million) Mortgages 107,033 66 43 8 334 451 107,484 Loans collateralized by securities 37,308 43 4 3 281 331 37,639 Consumer finance 5,147 248 82 63 145 538 5,685 Consumer 149,488 357 129 74 760 1,320 150,808 Real estate 24,946 35 49 0 127 211 25,157 Commercial and industrial loans 58,267 320 42 24 713 1,099 59,366 Financial institutions 21,480 72 0 0 159 231 21,711 Governments and public institutions 1,171 5 0 0 11 16 1,187 Corporate & institutional 105,864 432 91 24 1,010 1,557 107,421 Total loans to third parties 255,352 789 220 98 1,770 2,877 258,229 Total loans to entities under common control 3,950 0 0 0 0 0 3,950 Total loans held at amortized cost 259,302 789 220 98 1,770 2,877 262,179 1 1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively. As of the end of 6M23 and 2022, the Bank did not have any loans that were past due more than 90 days and still accruing interest. Also, the Bank did not have any debt securities held-to-maturity or other financial assets held at amortized cost that were past due. Non-accrual financial assets For loans held at amortized cost, non-accrual loans are comprised of non-performing loans and non-interest-earning loans. > Refer to “Note 1 – Summary of significant accounting policies” and “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on non-accrual loans. Non-accrual loans held at amortized cost 6M23 6M22 Amortized Amortized CHF million Mortgages 383 396 5 64 572 503 1 74 Loans collateralized by securities 283 285 0 2 262 238 2 2 Consumer finance 188 197 1 0 205 200 1 1 Consumer 854 878 6 66 1,039 941 4 77 Real estate 127 334 6 1 167 143 0 0 Commercial and industrial loans 801 551 10 12 686 696 6 57 Financial institutions 159 138 13 0 41 192 0 3 Governments and public institutions 11 11 1 2 19 11 0 2 Corporate & institutional 1,098 1,034 30 15 913 1,042 6 62 Total loans held at amortized cost 1,952 1,912 36 81 1,952 1,983 10 139 Loan modifications in 6M23 On January 1, 2023, the Bank adopted ASU 2022-02, applying the modified retrospective approach. Under the new accounting guidance, enhanced disclosures for certain loan refinancings and restructurings are required when a borrower is experiencing financial difficulty. For 6M23, these additional disclosures are presented in the below tables. Prior period disclosures are presented under the previous accounting guidance for troubled debt restructurings. For the Bank’s loan modifications executed during 6M23, the following table presents the amortized cost base of these modified loans as of the end of 6M23, by major type of loan modification (and any combination thereof), as well as the balances of these modified loans in relation to the overall balance of the respective class of financing receivables. Loan modifications by type 6M23 In percent Principal forgiveness (PF) Mortgages 0.6 0.00 Commercial and industrial loans 0.4 0.00 Total 1.0 – Interest rate reduction (IRR) Mortgages 3.6 0.00 Loans collateralized by securities 4.7 0.01 Consumer finance 0.0 0.00 Real estate 1.2 0.01 Commercial and industrial loans 14.7 0.03 Total 24.2 – Term extension (TE) Mortgages 45.7 0.04 Real estate 63.9 0.28 Commercial and industrial loans 103.5 0.19 Financial institutions 1.2 0.00 Total 214.3 – Other than insignificant payment delay (OtIPD) Commercial and industrial loans 14.4 0.03 Combination of IRR and TE Commercial and industrial loans 9.7 0.02 Combination of TE and OtIPD Commercial and industrial loans 37.6 0.07 Total loan modifications Mortgages 49.9 0.05 Loans collateralized by securities 4.7 0.01 Real estate 65.1 0.28 Commercial and industrial loans 180.3 0.32 Financial institutions 1.2 0.00 Total 301.2 0.12 PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay. The following table presents the modification effect of the Bank’s loan modifications executed in 6M23, by type of loan modification (and any combination thereof). Loan modifications – modification effects in 6M23 Principal forgiveness (PF) (CHF million) Mortgages 11.7 Commercial and industrial loans 7.2 Total 18.9 Interest rate reduction (IRR) (WAIRR in %) Mortgages 1.28 Loans collateralized by securities 1.98 Consumer finance 2.71 Real estate 1.50 Commercial and industrial loans 1.84 Total 1.76 Term extension (TE) (WATE in years) Mortgages 0.09 Real estate 1.25 Commercial and industrial loans 1.10 Financial institutions 0.58 Total 0.93 Other than insignificant payment delay (OtIPD) (CHF million) Commercial and industrial loans 3.3 Combination of IRR and TE Commercial and industrial loans Interest rate reduction (%) 0.10 Term extension (Years) 0.87 Combination of TE and OtIPD Commercial and industrial loans Term extension (Years) 2.72 Payment delay (CHF million) 22.0 PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay; WAIRR = Weighted average interest rate reduction; WATE = Weighted average term extension. As of the end of 6M23, none of the loans that had been modified during 6M23 were past due as of the end of 6M23. Furthermore, none of the loans that had been modified in 6M23 defaulted again during the reporting period. Expected credit losses on modified loans that are considered impaired are individually assessed. The performance of such loans following the modification, including any subsequent defaults, is taken into account for the measurement of the respective allowance for expected credit losses. Expected credit losses on modified loans that are considered non-impaired are collectively assessed. The performance of collectively assessed loans is reflected in the probability of default of these loans, which is one of the three main inputs for the Bank’s model-based estimates of the allowance for credit losses on non-impaired loans. Troubled debt restructurings in 6M22 Restructured financing receivables held at amortized cost 6M22 Recorded Recorded CHF million, except where indicated Real estate 1 102 82 Commercial and industrial loans 11 197 175 Total loans 12 299 257 In 6M22, the Bank did not have any restructured financing receivables held at amortized cost (troubled debt restructurings) that defaulted within 12 months from the date of restructuring. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2023 | |
Goodwill | 14 Goodwill Wealth Swiss Asset Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,281 481 1,106 4,878 7,758 Foreign currency translation impact (10) (9) (31) 0 (50) Other 0 0 (30) 30 0 Balance at end of period 1,271 472 1,045 4,908 7,708 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 4,878 4,890 Impairment losses 1,271 2 0 1,045 2 30 2,346 Balance at end of period 1,271 0 1,045 4,908 7,236 Net book value (CHF million) Net book value 0 472 0 0 472 Segments are shown net of adjustments regarding certain consolidating entities, including those relating to entities that are managed but are not owned or fully owned by Credit Suisse. 1 Gross amount of goodwill and accumulated impairment included CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. 2 Includes adjustments regarding certain consolidating entities of CHF 23 million for Wealth Management and CHF 6 million for Asset Management. > Refer to “Note 20 – Goodwill” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. In accordance with US GAAP, the Bank continually assesses whether or not there has been a triggering event requiring a review of goodwill. Effective January 1, 2023, the Bank is organized into five reporting units – Wealth Management, Swiss Bank, Asset Management, Investment Bank and the Capital Release Unit. As a result of the announced strategy and organizational changes, the Private Fund Group business in the Asset Management reporting unit was transferred to the Investment Bank reporting unit effective January 1, 2023, resulting in a transfer of CHF 30 million of goodwill between the reporting units. The Bank fully impaired this goodwill in 1Q23. Following a review of the Bank’s financial plans to reflect the deposit and assets under management outflows in 1Q23, the Bank concluded that the estimated fair value of the Wealth Management reporting unit was below its related carrying value and as a result a goodwill impairment charge of CHF 1.3 billion was recorded for the quarter, resulting in a goodwill balance of zero for that reporting unit. The fair value of the remaining reporting units with goodwill (Swiss Bank and Asset Management) exceeded their related carrying values and no further impairments were necessary as of March 31, 2023. Due to the asset under management outflows and the projected impact on the profitability of the Asset Management reporting unit the Bank concluded that the estimated fair value of the Asset Management reporting was below its related carrying value and, as a result, a goodwill impairment charge of CHF 1.0 billion was recorded in 2Q23, resulting in a goodwill balance of zero for that reporting unit. On August 31, 2023, UBS Group announced its update on strategy and the integration of Credit Suisse, which included the decision to integrate Credit Suisse (Schweiz) AG with UBS Switzerland AG. The announcement represents a 3Q23 triggering event for goodwill impairment testing purposes. Based on the preliminary 3Q23 goodwill impairment assessment, the Bank has concluded that the estimated fair value of the Swiss Bank reporting unit is expected to support its carrying value although at a reduced margin. The results of the goodwill impairment evaluation would be significantly impacted by adverse changes in the underlying parameters used in the valuation process. If actual outcomes or the future outlook adversely differ from management’s best estimates of the key economic assumptions and associated cash flows applied in the valuation of the Swiss Bank reporting unit, the Bank could potentially incur material impairment charges in the future. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2023 | |
Other assets and other liabilities | 15 Other assets and other liabilities end of 6M23 2022 Other assets (CHF million) Cash collateral on derivative instruments 5,917 7,723 Cash collateral on non-derivative transactions 505 647 Derivative instruments used for hedging 1 59 0 Assets held-for-sale 8,249 16,112 of which loans 2 8,222 16,090 allowance for loans held-for-sale (269) (101) of which real estate 3 26 22 of which long-lived assets 1 0 Premises and equipment, net and right-of-use assets 3,684 5,799 Assets held for separate accounts 62 64 Interest and fees receivable 2,379 2,609 Deferred tax assets 83 259 Prepaid expenses 863 812 of which cloud computing arrangement implementation costs 27 65 Failed purchases 569 801 Defined benefit pension and post-retirement plan assets 538 560 Other 4,996 6,367 of which digital asset safeguarding assets 118 102 Other assets 27,904 41,753 Other liabilities (CHF million) Cash collateral on derivative instruments 1,046 2,079 Cash collateral on non-derivative transactions 332 431 Derivative instruments used for hedging 1 16 154 Operating leases liabilities 1,603 1,749 Provisions 2,727 1,494 of which expected credit losses on off-balance sheet credit exposures 207 217 Restructuring liabilities 51 114 Liabilities held for separate accounts 62 64 Interest and fees payable 3,867 3,779 Current tax liabilities 517 524 Deferred tax liabilities 178 670 Failed sales 864 1,471 Defined benefit pension and post-retirement plan liabilities 255 258 Other 3,790 4,039 of which digital asset safeguarding liabilities 118 102 Other liabilities 15,308 16,826 1 Amounts shown after counterparty and cash collateral netting. 2 Included as of the end of 6M23 and 2022 were CHF 272 million and CHF 458 million, respectively, in restricted loans, which represented collateral on secured borrowings. 3 As of the end of 6M23 and 2022, real estate held-for-sale included foreclosed or repossessed real estate of CHF 26 million and CHF 21 million, respectively, of which CHF 26 million and CHF 21 million, respectively, were related to residential real estate. |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated other comprehensive income | 16 Accumulated other comprehensive income Unrealized 1 Gains/ 6M23 (CHF million) Balance at beginning of period (1,317) (17,020) (13) (582) (9) 3,874 (15,067) Increase/(decrease) 289 (1,072) 1 (47) 0 3,746 2,917 Reclassification adjustments, included in net income/(loss) (82) 59 0 3 1 (7,731) 2 (7,750) Total increase/(decrease) 207 (1,013) 1 (44) 1 (3,985) (4,833) Balance at end of period (1,110) (18,033) (12) (626) (8) (111) (19,900) 6M22 (CHF million) Balance at beginning of period (95) (16,760) 13 (429) (6) (2,082) (19,359) Increase/(decrease) (727) 934 (6) 0 (1) 3,516 3,716 Reclassification adjustments, included in net income/(loss) (121) 0 0 4 1 17 (99) Total increase/(decrease) (848) 934 (6) 4 0 3,533 3,617 Balance at end of period (943) (15,826) 7 (425) (6) 1,451 (15,742) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M23 and 6M22. 2 Included the impact of the additional tier 1 capital notes write-down of CHF 9,048 million and the related tax impact of CHF 1,440 million which represented non-cash transactions. Details of significant reclassification adjustments in 6M23 6M22 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 1 59 0 Gains/(losses) on cash flow hedges Gross gains/(losses) 2 (94) (156) Tax expense/(benefit) 12 35 Net of tax (82) (121) Actuarial gains/(losses) Amortization of recognized actuarial losses 3 (6) 5 Tax expense/(benefit) 9 (1) Net of tax 3 4 Gains/(losses) on liabilities relating to credit risk Reclassification adjustments 1 (9,171) 17 Tax expense/(benefit) 1,440 0 Net of tax (7,731) 17 1 Included in other revenues. 2 Included in interest and dividend income as well as operating expenses. Refer to "Note 20 - Derivatives and hedging activities" for further information. 3 These components are included in the computation of total benefit costs. Refer to "Note 19 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Jun. 30, 2023 | |
Offsetting of financial assets and financial liabilities | 17 Offsetting of financial assets and financial liabilities The disclosures set out in the tables below include derivatives, reverse repurchase and repurchase agreements, and securities lending and borrowing transactions that: ■ ■ Similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending agreements. The Bank uses master netting agreements to mitigate counterparty credit risk in certain transactions, including derivative contracts and securities borrowed, lent and subject to repurchase agreements. Derivatives > Refer to “Note 27 – Offsetting of financial assets and financial liabilities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. The following table presents the gross amount of derivatives subject to enforceable master netting agreements by contract and transaction type, the amount of offsetting, the amount of derivatives not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of derivatives 6M23 2022 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.8 8.0 8.6 9.8 OTC 19.5 18.9 25.1 23.5 Interest rate products 26.3 26.9 33.7 33.3 OTC-cleared 0.2 0.2 0.3 0.3 OTC 15.5 16.4 24.9 25.5 Exchange-traded 0.0 0.0 0.0 0.1 Foreign exchange products 15.7 16.6 25.2 25.9 OTC-cleared 0.1 0.1 0.0 0.0 OTC 4.6 7.4 4.3 7.1 Exchange-traded 16.2 15.3 18.6 18.3 Equity/index-related products 20.9 22.8 22.9 25.4 OTC-cleared 0.3 0.3 0.6 0.6 OTC 1.8 2.3 2.4 2.6 Credit derivatives 2.1 2.6 3.0 3.2 OTC-cleared 0.0 0.0 0.1 0.1 OTC 0.7 0.2 0.9 0.4 Exchange-traded 0.1 0.0 0.0 0.0 Other products 1 0.8 0.2 1.0 0.5 OTC-cleared 7.4 8.6 9.6 10.8 OTC 42.1 45.2 57.6 59.1 Exchange-traded 16.3 15.3 18.6 18.4 Total gross derivatives subject to enforceable master netting agreements 65.8 69.1 85.8 88.3 Offsetting (CHF billion) OTC-cleared (7.4) (8.6) (9.5) (10.7) OTC (37.5) (40.4) (50.5) (52.9) Exchange-traded (15.5) (15.3) (18.0) (18.2) Offsetting (60.4) (64.3) (78.0) (81.8) of which counterparty netting (52.9) (52.9) (68.3) (68.3) of which cash collateral netting (7.5) (11.4) 2 (9.7) (13.5) 2 Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.0 0.1 0.1 OTC 4.6 4.8 7.1 6.2 Exchange-traded 0.8 0.0 0.6 0.2 Total net derivatives subject to enforceable master netting agreements 5.4 4.8 7.8 6.5 Total derivatives not subject to enforceable master netting agreements 3 2.3 1.9 3.3 2.6 Total net derivatives presented in the consolidated balance sheets 7.7 6.7 11.1 9.1 of which recorded in trading assets and trading liabilities 7.6 6.7 11.1 8.9 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.2 1 Primarily precious metals, commodity and energy products. 2 Includes CHF 9,813 million and CHF 11,924 million as of the end of 6M23 and 2022, respectively, related to trading derivatives. 3 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Reverse repurchase and repurchase agreements and securities lending and borrowing transactions > Refer to “Note 27 – Offsetting of financial assets and financial liabilities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. The following table presents the gross amount of securities purchased under resale agreements and securities borrowing transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities purchased under resale agreements and securities borrowing transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M23 2022 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 36.9 (5.5) 31.4 47.9 (10.7) 37.2 Securities borrowing transactions 3.0 0.0 3.0 4.5 0.0 4.5 Total subject to enforceable master netting agreements 39.9 (5.5) 34.4 52.4 (10.7) 41.7 Total not subject to enforceable master netting agreements 1 18.4 – 18.4 17.1 – 17.1 Total 58.3 (5.5) 52.8 2 69.5 (10.7) 58.8 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 31,683 million and CHF 40,793 million of the total net amount as of the end of 6M23 and 2022, respectively, were reported at fair value. The following table presents the gross amount of securities sold under repurchase agreements and securities lending transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities sold under repurchase agreements and securities lending transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities sold under repurchase agreements and securities lending transactions 6M23 2022 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 7.1 (5.5) 1.6 27.8 (10.7) 17.1 Securities lending transactions 0.1 0.0 0.1 0.9 0.0 0.9 Obligation to return securities received as collateral, at fair value 2.2 0.0 2.2 2.9 0.0 2.9 Total subject to enforceable master netting agreements 9.4 (5.5) 3.9 31.6 (10.7) 20.9 Total not subject to enforceable master netting agreements 1 1.2 – 1.2 2.5 – 2.5 Total 10.6 (5.5) 5.1 34.1 (10.7) 23.4 of which securities sold under repurchase agreements and securities lending transactions 8.4 (5.5) 2.9 2 31.1 (10.7) 20.4 2 of which obligation to return securities received as collateral, at fair value 2.2 0.0 2.2 3.0 0.0 3.0 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 1,330 million and CHF 14,133 million of the total net amount as of the end of 6M23 and 2022, respectively, were reported at fair value. The following table presents the net amount presented in the consolidated balance sheets of financial assets and liabilities subject to enforceable master netting agreements and the gross amount of financial instruments and cash collateral not offset in the consolidated balance sheets. The table excludes derivatives, reverse repurchase and repurchase agreements and securities lending and borrowing transactions not subject to enforceable master netting agreements where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Net exposure reflects risk mitigation in the form of collateral. Amounts not offset in the consolidated balance sheets 6M23 2022 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 5.4 2.1 0.0 3.3 7.8 3.2 0.0 4.6 Securities purchased under resale agreements 31.4 31.4 0.0 0.0 37.2 37.1 0.1 0.0 Securities borrowing transactions 3.0 2.9 0.0 0.1 4.5 4.3 0.0 0.2 Total financial assets subject to enforceable master netting agreements 39.8 36.4 0.0 3.4 49.5 44.6 0.1 4.8 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 4.8 1.0 0.0 3.8 6.5 1.2 0.0 5.3 Securities sold under repurchase agreements 1.6 1.6 0.0 0.0 17.1 17.1 0.0 0.0 Securities lending transactions 0.1 0.1 0.0 0.0 0.9 0.8 0.0 0.1 Obligation to return securities received as collateral, at fair value 2.2 2.0 0.0 0.2 2.9 2.7 0.0 0.2 Total financial liabilities subject to enforceable master netting agreements 8.7 4.7 0.0 4.0 27.4 21.8 0.0 5.6 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. Net exposure is subject to further credit mitigation through the transfer of the exposure to other market counterparties by the use of credit default swaps and credit insurance contracts. Therefore, the net exposure presented in the table above is not representative of the Bank’s counterparty exposure. |
Tax
Tax | 6 Months Ended |
Jun. 30, 2023 | |
Tax | 18 Tax Credit Suisse has used a year-to-date effective tax rate (discrete method) as the best estimate of the annual effective tax rate to calculate the 6M23 income tax expense. This is mainly due to the inability to forecast the annual effective tax rate for the year as a result of the acquisition of Credit Suisse Group AG by UBS and business uncertainty related to the previously disclosed issues affecting Credit Suisse. In 6M23, Credit Suisse incurred an income tax expense of CHF 765 million on income before taxes of CHF 2,939 million. The continuous reassessment of Credit Suisse’s deferred tax assets/(liabilities) and uncertain tax positions was additionally impacted by the acquisition of Credit Suisse Group AG by UBS. The reassessment overall resulted in an impact of CHF 448 million. Additionally, Credit Suisse recorded an impact of CHF 233 million, mainly relating to the tax impact of profitable entities in certain geographical locations, adjusted for other non-deductible expenses. This also reflected the impact of the gain from the write-down of additional tier 1 capital notes, on which Credit Suisse utilized unvalued tax losses from prior years. Net deferred tax assets/(liabilities) end of 6M23 2022 Net deferred tax assets (CHF million) Deferred tax assets 83 259 of which net operating losses 12 138 of which deductible temporary differences 71 121 Deferred tax liabilities (178) (670) Net deferred tax assets/(liabilities) (95) (411) Overall, net deferred tax liabilities of CHF 95 million decreased CHF 316 million in 6M23, primarily driven by a reduction in the deferred tax liability associated with the write-down of additional tier 1 capital notes, partially offset by the reassessment of the deferred tax assets. |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2023 | |
Pension and other post-retirement benefits | 19 Pension and other post-retirement benefits > Refer to “Note 31 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. The Bank contributed and recognized expenses of CHF 222 million and CHF 222 million related to its defined contribution pension plans in 6M23 and 6M22, respectively. The Bank expects to contribute CHF 17 million to the international single-employer defined benefit pension plans and CHF 12 million to other post-retirement defined benefit plans in 2023. As of the end of 6M23, CHF 9 million and CHF 6 million of contributions had been made to the international single-employer and other post-retirement defined benefit pension plans, respectively. Components of net periodic benefit costs in 6M23 6M22 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 6 8 Interest costs on benefit obligation 48 30 Expected return on plan assets (66) (33) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses (6) 5 Net periodic benefit costs/(credits) (17) 11 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activit
Derivatives and hedging activities | 6 Months Ended |
Jun. 30, 2023 | |
Derivatives and hedging activities | 20 Derivatives and hedging activities > Refer to “Note 32 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Bank. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Bank elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 23 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 2,196.6 0.1 0.1 0.0 0.0 0.0 Swaps 7,405.9 19.9 18.8 129.8 0.1 1.7 Options bought and sold (OTC) 554.2 6.4 6.7 0.0 0.0 0.0 Futures 142.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.8 0.0 0.0 0.0 0.0 0.0 Interest rate products 10,299.6 26.4 25.6 129.8 0.1 1.7 Forwards 389.3 3.9 4.0 27.5 0.1 0.0 Swaps 318.3 10.0 10.8 0.0 0.0 0.0 Options bought and sold (OTC) 105.0 2.0 2.0 0.0 0.0 0.0 Futures 3.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 817.3 15.9 16.8 27.5 0.1 0.0 Forwards 0.1 0.0 0.0 0.0 0.0 0.0 Swaps 17.6 0.9 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 145.5 5.4 7.9 0.0 0.0 0.0 Futures 13.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.7 16.3 15.4 0.0 0.0 0.0 Equity/index-related products 550.5 22.6 23.7 0.0 0.0 0.0 Credit derivatives 2 260.7 2.1 2.7 0.0 0.0 0.0 Forwards 5.0 0.1 0.1 0.0 0.0 0.0 Swaps 6.7 0.6 0.3 0.0 0.0 0.0 Options bought and sold (OTC) 7.0 0.1 0.1 0.0 0.0 0.0 Futures 3.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.9 0.1 0.0 0.0 0.0 0.0 Other products 3 24.7 0.9 0.5 0.0 0.0 0.0 Total derivative instruments 11,952.8 67.9 69.3 157.3 0.2 1.7 The notional amount, PRV and NRV (trading and hedging) was CHF 12,110.1 billion, CHF 68.1 billion and CHF 71.0 billion, respectively, as of June 30, 2023. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 2,088.2 1.7 1.7 0.0 0.0 0.0 Swaps 9,140.3 24.3 21.7 130.1 0.1 1.8 Options bought and sold (OTC) 644.4 8.2 8.6 0.0 0.0 0.0 Futures 144.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 35.9 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,053.7 34.2 32.0 130.1 0.1 1.8 Forwards 701.4 8.7 10.0 17.7 0.1 0.2 Swaps 353.5 14.3 13.5 0.0 0.0 0.0 Options bought and sold (OTC) 167.5 2.5 2.7 0.0 0.0 0.0 Futures 4.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.8 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,229.3 25.5 26.2 17.7 0.1 0.2 Forwards 0.3 0.0 0.0 0.0 0.0 0.0 Swaps 22.8 0.9 0.7 0.0 0.0 0.0 Options bought and sold (OTC) 181.4 5.2 7.5 0.0 0.0 0.0 Futures 42.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 469.3 18.9 18.5 0.0 0.0 0.0 Equity/index-related products 715.8 25.0 26.7 0.0 0.0 0.0 Credit derivatives 2 352.0 3.2 3.4 0.0 0.0 0.0 Forwards 6.9 0.1 0.1 0.0 0.0 0.0 Swaps 9.5 0.7 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 8.8 0.1 0.1 0.0 0.0 0.0 Futures 12.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.7 0.1 0.0 0.0 0.0 0.0 Other products 3 40.5 1.0 0.6 0.0 0.0 0.0 Total derivative instruments 14,391.3 88.9 88.9 147.8 0.2 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 14,539.1 billion, CHF 89.1 billion and CHF 90.9 billion, respectively, as of December 31, 2022. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Derivatives” in Note 17 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Gains or (losses) on fair value hedges in 6M23 6M22 Interest rate products (CHF million) Hedged items 1 392 2,508 Derivatives designated as hedging instruments 1 (400) (2,370) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M23 2022 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.9 (0.1) 0.0 0.8 (0.1) 0.0 Net loans 35.7 (0.1) (1.8) 29.0 (1.3) (0.7) Liabilities (CHF billion) Long-term debt 68.4 (0.5) (4.5) 72.0 (1.0) (4.4) 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 6M23 6M22 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 342 (821) Gains/(losses) reclassified from AOCI into interest and dividend income 104 177 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 17 (50) Total other operating expenses (10) (22) Gains/(losses) reclassified from AOCI into income (10) (22) As of the end of 6M23, the maximum length of time over which the Bank hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was 12 months. The net loss associated with cash flow hedges expected to be reclassified from accumulated other comprehensive income (AOCI) within the next 12 months is CHF 515 million. Net investment hedges in 6M23 6M22 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (81) (57) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 4 0 The Bank includes all derivative instruments not included in hedge accounting relationships in its trading activities. > Refer to “Note 6 – Trading revenues” for gains and losses on trading activities by product type. Disclosures relating to contingent credit risk Certain of the Bank’s derivative instruments contain provisions that require the maintenance of contractually specified credit ratings from each of the major credit rating agencies. If the ratings fall below the level specified in the contract, the counterparties to the agreement could request payment of additional collateral on those derivative instruments that are in a net liability position. Certain of the derivative contracts also provide for termination of the contract, generally upon a downgrade of the contractually specified credit ratings. Such derivative contracts are reflected at close-out costs. The following table provides the Bank’s current net exposure from contingent credit risk relating to derivative contracts with bilateral counterparties and SPEs that include credit support agreements, the related collateral posted and the additional collateral that could be called by counterparties in the event of a one-, two-, or three-notch downgrade in the contractually specified credit ratings. The table also includes derivative contracts with contingent credit risk features without credit support agreements that have accelerated termination event conditions. The current net exposure for derivative contracts with bilateral counterparties and contracts with accelerated termination event conditions is the aggregate fair value of derivative instruments that were in a net liability position. For SPEs, the current net exposure is the contractual amount that is used to determine the collateral payable in the event of a downgrade. The contractual amount could include both the NRV and a percentage of the notional value of the derivative. Contingent credit risk 6M23 2022 Special Special Contingent credit risk (CHF billion) Current net exposure 1.1 0.1 0.0 1.2 1.2 0.1 0.1 1.4 Collateral posted 0.9 0.1 – 1.0 1.0 0.1 – 1.1 Impact of a one-notch downgrade event 0.3 0.0 0.0 0.3 0.4 0.0 0.1 0.5 Impact of a two-notch downgrade event 0.4 0.0 0.0 0.4 0.5 0.1 0.2 0.8 Impact of a three-notch downgrade event 0.5 0.1 0.0 0.6 0.5 0.1 0.2 0.8 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 32 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on credit derivatives. Credit protection sold/purchased The following tables do not include all credit derivatives and differ from the credit derivatives in the “Fair value of derivative instruments” tables. This is due to the exclusion of certain credit derivative instruments under US GAAP, which defines a credit derivative as a derivative instrument (a) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (b) that exposes the seller to potential loss from credit risk-related events specified in the contract. Total return swaps (TRS) of CHF 3.2 billion and CHF 5.9 billion as of the end of 6M23 and 2022 were also excluded because a TRS does not expose the seller to potential loss from credit risk-related events specified in the contract. A TRS only provides protection against a loss in asset value and not against additional amounts as a result of specific credit events. Credit protection sold/purchased 6M23 2022 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (37.7) 34.2 (3.5) 6.7 0.1 (52.8) 48.6 (4.2) 10.6 0.2 Non-investment grade (14.5) 12.6 (1.9) 3.4 (0.1) (22.3) 20.7 (1.6) 4.9 (0.2) Total single-name instruments (52.2) 46.8 (5.4) 10.1 0.0 (75.1) 69.3 (5.8) 15.5 0.0 of which sovereign (11.8) 10.3 (1.5) 3.0 (0.1) (12.8) 11.3 (1.5) 4.4 (0.1) of which non-sovereign (40.4) 36.5 (3.9) 7.1 0.1 (62.3) 58.0 (4.3) 11.1 0.1 Multi-name instruments (CHF billion) Investment grade 2 (54.0) 51.9 (2.1) 3.2 0.2 (54.3) 50.8 (3.5) 8.9 0.1 Non-investment grade (18.0) 16.9 (1.1) 3.5 3 (0.5) (30.9) 28.4 (2.5) 9.5 3 (0.6) Total multi-name instruments (72.0) 68.8 (3.2) 6.7 (0.3) (85.2) 79.2 (6.0) 18.4 (0.5) of which non-sovereign (72.0) 68.8 (3.2) 6.7 (0.3) (85.2) 79.2 (6.0) 18.4 (0.5) Total instruments (CHF billion) Investment grade 2 (91.7) 86.1 (5.6) 9.9 0.3 (107.1) 99.4 (7.7) 19.5 0.3 Non-investment grade (32.5) 29.5 (3.0) 6.9 (0.6) (53.2) 49.1 (4.1) 14.4 (0.8) Total instruments (124.2) 115.6 (8.6) 16.8 (0.3) (160.3) 148.5 (11.8) 33.9 (0.5) of which sovereign (11.8) 10.3 (1.5) 3.0 (0.1) (12.8) 11.3 (1.5) 4.4 (0.1) of which non-sovereign (112.4) 105.3 (7.1) 13.8 (0.2) (147.5) 137.2 (10.3) 29.5 (0.4) 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. The following table reconciles the notional amount of credit derivatives included in the table “Fair value of derivative instruments” to the table “Credit protection sold/purchased”. Credit derivatives end of 6M23 2022 Credit derivatives (CHF billion) Credit protection sold 124.2 160.3 Credit protection purchased 115.6 148.5 Other protection purchased 16.8 33.9 Other instruments 1 4.1 9.3 Total credit derivatives 260.7 352.0 1 Consists of total return swaps and other derivative instruments. The segregation of the future payments by maturity range and underlying risk gives an indication of the current status of the potential for performance under the derivative contracts. Maturity of credit protection sold Maturity Maturity Maturity 6M23 (CHF billion) Single-name instruments 10.3 39.4 2.5 52.2 Multi-name instruments 5.6 60.5 5.9 72.0 Total instruments 15.9 99.9 8.4 124.2 2022 (CHF billion) Single-name instruments 10.0 61.8 3.3 75.1 Multi-name instruments 6.5 71.5 7.2 85.2 Total instruments 16.5 133.3 10.5 160.3 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2023 | |
Guarantees and commitments | 21 Guarantees and commitments Guarantees In the ordinary course of business, guarantees are provided that contingently obligate the Bank to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing or other contractual arrangement. The total gross amount disclosed within the Guarantees table reflects the maximum potential payment under the guarantees. The carrying value represents the higher of the initial fair value (generally the related fee received or receivable) less cumulative amortization and the Bank’s current best estimate of payments that will be required under existing guarantee arrangements. Guarantees provided by the Bank are classified as follows: credit guarantees and similar instruments, performance guarantees and similar instruments, derivatives and other guarantees. > Refer “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. Guarantees Maturity Maturity 1 6M23 (CHF million) Credit guarantees and similar instruments 1,558 990 2,548 2,490 18 1,636 Performance guarantees and similar instruments 3,489 2,310 5,799 5,155 39 2,843 Derivatives 2 1,966 2,061 4,027 4,027 59 – Other guarantees 3,697 2,141 5,838 5,837 60 2,628 Total guarantees 10,710 7,502 18,212 17,509 176 7,107 2022 (CHF million) Credit guarantees and similar instruments 2,261 1,049 3,310 3,197 22 2,068 Performance guarantees and similar instruments 4,280 2,992 7,272 6,527 61 3,778 Derivatives 2 2,646 2,596 5,242 5,242 101 – Other guarantees 4,455 2,213 6,668 6,668 56 3,292 Total guarantees 13,642 8,850 22,492 21,634 240 9,138 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of protected deposits in case of specified restrictions or forced liquidation of a deposit-taking bank. In Switzerland, under the amended Swiss deposit insurance guarantee program, the jointly guaranteed amount is determined as the higher of CHF 6 billion or 1.6% Representations and warranties on residential mortgage loans sold In connection with the Investment Bank division’s sale of US residential mortgage loans, the Bank has provided certain representations and warranties relating to the loans sold. The Bank has provided these representations and warranties relating to sales of loans to institutional investors, primarily banks, and non-agency, or private label, securitizations. The loans sold are primarily loans that the Bank has purchased from other parties. The scope of representations and warranties, if any, depends on the transaction, but can include: ownership of the mortgage loans and legal capacity to sell the loans; loan-to-value ratios and other characteristics of the property, the borrower and the loan; validity of the liens securing the loans and absence of delinquent taxes or related liens; conformity to underwriting standards and completeness of documentation; and origination in compliance with law. If it is determined that representations and warranties were breached, the Bank may be required to repurchase the related loans or indemnify the investors to make them whole for losses. Whether the Bank will incur a loss in connection with repurchases and make whole payments depends on: the extent to which claims are made; the validity of such claims made within the statute of limitations (including the likelihood and ability to enforce claims); whether the Bank can successfully claim against parties that sold loans to the Bank and made representations and warranties to the Bank; the residential real estate market, including the number of defaults; and whether the obligations of the securitization vehicles were guaranteed or insured by third parties. Repurchase claims on residential mortgage loans sold that are subject to arbitration or litigation proceedings, or become so during the reporting period, are not included in this Guarantees and commitments disclosure but are addressed in litigation and related loss contingencies and provisions. The Bank is involved in litigation relating to representations and warranties on residential mortgages sold. > Refer to “Note 25 – Litigation” for further information. Disposal-related contingencies and other indemnifications The Bank has certain guarantees for which its maximum contingent liability cannot be quantified. These guarantees are not reflected in the “Guarantees” table and are discussed below. > Refer “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. Other commitments Other commitments of the Bank are classified as follows: irrevocable commitments under documentary credits, irrevocable loan commitments, forward reverse repurchase agreements and other commitments. > Refer “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information. Other commitments 6M23 2022 Maturity Maturity 1 Maturity Maturity Other commitments (CHF million) Irrevocable commitments under documentary credits 2,910 26 2,936 2,852 3,378 42 3,420 3,233 Irrevocable loan commitments 12,982 69,115 82,097 2 78,441 19,272 92,857 112,129 2 108,118 Forward reverse repurchase agreements 2,686 0 2,686 2,686 1,021 0 1,021 1,021 Other commitments 181 239 420 420 212 286 498 498 Total other commitments 18,759 69,380 88,139 84,399 23,883 93,185 117,068 112,870 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 112,275 million and CHF 129,224 million of unused credit limits as of the end of 6M23 and 2022, respectively, which were revocable at the Bank's sole discretion upon notice to the client. |
Transfers of financial assets a
Transfers of financial assets and variable interest entities | 6 Months Ended |
Jun. 30, 2023 | |
Transfers of financial assets and variable interest entities | 22 Transfers of financial assets and variable interest entities > Refer to “Note 34 – Transfers of financial assets and variable interest entities” in VIII – Consolidated financial statements – Credit Suisse (Bank) – in the Credit Suisse Annual Report 2022 for further information. Transfers of financial assets > Refer to “Transfers of financial assets” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information. Securitizations and asset-backed financings The Bank does not retain material servicing responsibilities from securitization activities. The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M23 and 6M22 securitizations of financial assets or asset-backed financings that qualify for sale accounting and subsequent derecognition, along with the cash flows between the Bank and the SPEs used in any securitizations or asset-backed financings in which the Bank still has continuing involvement, regardless of when the securitization or asset-backed financing occurred. Securitizations and asset-backed financings in 6M23 6M22 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 5 Proceeds from transfer of assets 2 0 2,819 Cash received on interests that continue to be held 13 22 RMBS Net gain/(loss) 1 0 (1) Proceeds from transfer of assets 3 0 6,799 Servicing fees 7 0 Cash received on interests that continue to be held 29 531 Other asset-backed financings Net gain 1 7 23 Proceeds from transfer of assets 4 6,677 3,808 Purchases of previously transferred financial assets or its underlying collateral (177) (997) Fees 5 98 97 Cash received on interests that continue to be held 121 36 1 Includes primarily underwriting revenues, deferred origination fees and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. 2 Included the receipt of non-cash beneficial interests (including risk retention securities) of CHF 0 and CHF 272 million in 6M23 6M22 3 Included the receipt of non-cash beneficial interests (including risk retention securities) of CHF 0 and CHF 635 million in 6M23 6M22 4 Includes the receipt of non-cash beneficial interests (including risk retention securities) and seller financing of CHF 4,251 and CHF 65 million in 6M23 6M22 5 Represents primarily management fees and performance fees earned for investment management services provided to managed CLOs. In 6M23, Credit Suisse completed the sale of a significant part of SPG to entities and funds managed by affiliates of Apollo. In connection with the initial closing of this transaction, Credit Suisse and Apollo entered into various ancillary agreements related to the transaction, including an investment management agreement, certain financing arrangements and a transition services agreement. The sale of Bank assets to certain entities of Apollo and related financing provided by the Bank to these entities represent asset-backed financings where the Bank has continuing involvement. Continuing involvement in transferred financial assets The Bank may have continuing involvement in the financial assets that are transferred to an SPE, which may take several forms, including, but not limited to, servicing, recourse and guarantee arrangements, agreements to purchase or redeem transferred assets, derivative instruments, pledges of collateral and beneficial interests in the transferred assets. > Refer to “Transfers of financial assets” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information. The following table provides the outstanding principal balance of assets to which the Bank continued to be exposed after the transfer of the financial assets to any SPE as of the end of 6M23 and 2022, regardless of when the transfer of assets occurred. Principal amounts outstanding resulting from continuing involvement end of 6M23 2022 CHF million CMBS 5,170 17,193 RMBS 23,869 41,552 Other asset-backed financings 22,895 21,939 Principal amount outstanding relates to assets transferred from the Bank and does not include principal amounts for assets transferred from third parties. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 6M23 and 6M22. > Refer to “Note 24 – Assets pledged and collateral” for further information. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M23 2022 CHF million Other asset-backed financings Trading assets 22 366 Other assets 209 154 Liability to SPEs, included in other liabilities (231) (520) Securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings > Refer to “Transfers of financial assets” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information. The following tables provide the gross obligation relating to securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral by the class of collateral pledged and by remaining contractual maturity as of the end of 6M23 and 6M22. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M23 2022 CHF billion Government debt securities 6.2 17.1 Corporate debt securities 2.0 6.9 Asset-backed securities 0.0 0.9 Equity securities 0.1 0.2 Other 0.0 5.1 Securities sold under repurchase agreements 8.3 30.2 Government debt securities 0.0 0.2 Corporate debt securities 0.0 0.3 Asset-backed securities 0.0 0.2 Equity securities 0.1 0.1 Other 0.0 0.1 Securities lending transactions 0.1 0.9 Government debt securities 1.0 1.2 Corporate debt securities 0.1 0.4 Asset-backed securities 0.0 0.1 Equity securities 1.1 1.3 Other 0.0 0.0 Obligation to return securities received as collateral, at fair value 2.2 3.0 Total 10.6 34.1 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated Up to 1 31-90 More than 6M23 (CHF billion) Securities sold under repurchase agreements 0.7 5.6 1.2 0.8 8.3 Securities lending transactions 0.1 0.0 0.0 0.0 0.1 Obligation to return securities received as collateral, at fair value 2.2 0.0 0.0 0.0 2.2 Total 3.0 5.6 1.2 0.8 10.6 2022 (CHF billion) Securities sold under repurchase agreements 4.1 12.8 5.9 7.4 30.2 Securities lending transactions 0.5 0.2 0.0 0.2 0.9 Obligation to return securities received as collateral, at fair value 3.0 0.0 0.0 0.0 3.0 Total 7.6 13.0 5.9 7.6 34.1 1 Includes overnight transactions. > Refer to “Note 17 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities > Refer to “Variable interest entities” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information. Commercial paper conduit The Bank acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed commercial paper (CP) conduit used for client and Bank financing purposes. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. In addition to CP, Alpine may also issue term notes with maturities up to 30 months. The Bank (including Alpine) can enter into liquidity facilities with third-party entities pursuant to which it may be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Bank. However, its assets are available to satisfy only the claims of its creditors. In addition, the Bank, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Bank is deemed the primary beneficiary and consolidates this entity. The overall average maturity of Alpine’s outstanding CP was approximately 74 days as of the end of 6M23, and Alpine’s CP had exposures mainly in reverse repurchase agreements with a Bank entity and consumer loans. After maturity of the remaining CP in October 2023, the CP conduit activities of Alpine are expected to be discontinued. > Refer to “Variable interest entities” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information on Alpine. Consolidated VIEs The Bank has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. The Bank consolidates all VIEs related to financial intermediation for which it is the primary beneficiary. The consolidated VIEs table provides the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 6M23 and 2022. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M23 (CHF million) Cash and due from banks 0 326 75 9 28 16 454 Trading assets 0 0 885 20 436 1 1,342 Other investments 0 0 0 52 510 132 694 Net loans 0 1,499 0 0 15 0 1,514 Other assets 0 8 1,143 34 58 411 1,654 of which loans held-for-sale 0 8 83 20 0 0 111 of which premises and equipment 0 0 0 0 0 0 0 Total assets of consolidated VIEs 0 1,833 2,103 115 1,047 560 5,658 Trading liabilities 0 7 0 0 5 1 13 Short-term borrowings 0 31 0 11 0 1 43 Long-term debt 0 0 1,566 0 0 43 1,609 Other liabilities 0 32 3 16 44 1,026 1,121 Total liabilities of consolidated VIEs 0 70 1,569 27 49 1,071 2,785 2022 (CHF million) Cash and due from banks 15 94 68 17 24 11 229 Trading assets 0 954 1,154 23 457 0 2,588 Other investments 0 0 0 58 587 136 781 Net loans 0 3,260 0 0 16 134 3,410 Other assets 281 2,466 1,349 39 42 417 4,594 of which loans held-for-sale 279 2,445 119 21 0 0 2,864 Total assets of consolidated VIEs 296 6,774 2,571 137 1,126 698 11,602 Trading liabilities 0 1,057 0 0 6 0 1,063 Short-term borrowings 0 3,124 0 13 0 0 3,137 Long-term debt 84 0 1,860 0 0 152 2,096 Other liabilities 0 49 2 19 49 70 189 Total liabilities of consolidated VIEs 84 4,230 1,862 32 55 222 6,485 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Bank’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. > Refer to “Variable interest entities” in VIII – Consolidated financial statements – Credit Suisse (Bank) – Note 34 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2022 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M23 (CHF million) Trading assets 227 0 2,126 583 7 1,636 4,579 Net loans 138 66 3,152 1,983 10,142 1,531 17,012 Other assets 9 0 0 119 77 702 907 Total variable interest assets 374 66 5,278 2,685 10,226 3,869 22,498 Maximum exposure to loss 377 133 6,554 2,685 13,603 4,140 27,492 Total assets of non-consolidated VIEs 8,640 274 42,842 161,867 36,439 11,034 261,096 2022 (CHF million) Trading assets 214 0 3,877 750 7 1,816 6,664 Net loans 314 1,440 2,521 1,934 7,617 2,201 16,027 Other assets 6 0 3 122 4 884 1,019 Total variable interest assets 534 1,440 6,401 2,806 7,628 4,901 23,710 Maximum exposure to loss 547 4,374 9,514 2,806 9,999 5,490 32,730 Total assets of non-consolidated VIEs 9,713 7,297 79,322 115,900 38,632 14,620 265,484 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2023 | |
Financial instruments | 23 Financial instruments The disclosure of the Bank’s financial instruments includes the following sections: ■ ■ ■ ■ Concentration of credit risk Credit risk concentrations arise when a number of counterparties are engaged in similar business activities, are located in the same geographic region or when there are similar economic features that would cause their ability to meet contractual obligations to be similarly impacted by changes in economic conditions. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Bank’s concentration of credit risk. Fair value measurement A significant portion of the Bank’s financial instruments is carried at fair value. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on fair value measurement of financial instruments and the definition of the levels of the fair value hierarchy. Qualitative disclosures of valuation techniques Information on the valuation techniques and significant unobservable inputs of the various financial instruments and the section “Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs” should be read in conjunction with the tables “Assets and liabilities measured at fair value on a recurring basis”, “Quantitative information about level 3 assets measured at fair value on a recurring basis” and “Quantitative information about level 3 liabilities measured at fair value on a recurring basis”. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Bank’s valuation techniques. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 127 0 – – 127 Interest-bearing deposits with banks 0 16 0 – – 16 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 31,683 0 – – 31,683 Securities received as collateral 1,852 368 0 – – 2,220 Trading assets 21,567 72,949 2,712 (60,268) 278 37,238 of which debt securities 9,264 9,326 802 – 60 19,452 of which foreign governments 7,615 5,533 48 – – 13,196 of which corporates 1,572 1,956 504 – 32 4,064 of which RMBS 0 1,069 87 – – 1,156 of which CDO 13 581 159 – – 753 of which equity securities 6,413 651 153 – 218 7,435 of which derivatives 4,663 61,962 1,195 (60,268) – 7,552 of which interest rate products 16 26,333 47 – – – of which foreign exchange products 26 15,824 25 – – – of which equity/index-related products 4,615 17,458 488 – – – of which credit derivatives 0 1,989 140 – – – of which other derivatives 0 190 495 – – – of which other trading assets 1,227 1,010 562 – – 2,799 Investment securities 0 854 0 – – 854 Other investments 0 15 1,942 – 448 2,405 of which other equity investments 0 15 1,428 – 336 1,779 of which life finance instruments 0 0 510 – – 510 Loans 0 3,741 815 – – 4,556 of which commercial and industrial loans 0 1,928 219 – – 2,147 of which financial institutions 0 810 287 – – 1,097 of which government and public institutions 0 910 219 – – 1,129 Other intangible assets (mortgage servicing rights) 0 0 337 – – 337 Other assets 66 4,620 907 (146) – 5,447 of which failed purchases 50 479 12 – – 541 of which loans held-for-sale 0 3,674 799 – – 4,473 Total assets at fair value 23,485 114,373 6,713 (60,414) 726 84,883 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 101 0 – – 101 Customer deposits 0 1,493 274 – – 1,767 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 1,330 0 – – 1,330 Obligation to return securities received as collateral 1,852 368 0 – – 2,220 Trading liabilities 9,898 63,196 2,461 (62,622) – 12,933 of which short positions 5,048 826 10 – – 5,884 of which debt securities 1,630 643 1 – – 2,274 of which foreign governments 1,540 168 0 – – 1,708 of which corporates 36 472 1 – – 509 of which equity securities 3,418 183 9 – – 3,610 of which derivatives 4,850 62,370 2,132 (62,622) – 6,730 of which interest rate products 12 25,415 161 – – – of which foreign exchange products 27 16,769 1 – – – of which equity/index-related products 4,804 17,541 1,452 – – – of which credit derivatives 0 2,460 239 – – – of which other derivatives 1 39 279 – – – of which other trading liabilities 0 0 319 – – 319 Short-term borrowings 0 4,205 204 – – 4,409 Long-term debt 0 33,716 6,355 – – 40,071 of which structured notes over one year and up to two years 0 6,790 428 – – 7,218 of which structured notes over two years 0 21,332 4,263 – – 25,595 of which other debt instruments over two years 0 2,548 1,564 – – 4,112 Other liabilities 45 3,053 277 (1,743) – 1,632 Total liabilities at fair value 11,795 107,462 9,571 (64,365) – 64,463 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 198 0 – – 198 Interest-bearing deposits with banks 0 14 0 – – 14 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 100 40,693 0 – – 40,793 Securities received as collateral 2,318 660 0 – – 2,978 Trading assets 33,724 105,555 3,828 (77,695) 543 65,955 of which debt securities 13,084 23,288 1,211 – 31 37,614 of which foreign governments 10,117 5,597 86 – – 15,800 of which corporates 2,718 4,998 413 – 31 8,160 of which RMBS 5 10,417 444 – – 10,866 of which CDO 197 941 216 – – 1,354 of which equity securities 11,772 676 222 – 512 13,182 of which derivatives 7,571 79,606 1,661 (77,695) – 11,143 of which interest rate products 1,617 31,900 671 – – – of which foreign exchange products 24 25,512 17 – – – of which equity/index-related products 5,927 18,669 295 – – – of which credit derivatives 0 3,059 130 – – – of which other derivatives 0 197 548 – – – of which other trading assets 1,297 1,985 734 – – 4,016 Investment securities 0 796 0 – – 796 Other investments 0 17 3,313 – 400 3,730 of which other equity investments 0 17 2,725 – 328 3,070 of which life finance instruments 0 0 587 – – 587 Loans 0 6,318 1,040 – – 7,358 of which commercial and industrial loans 0 2,381 300 – – 2,681 of which financial institutions 0 2,591 398 – – 2,989 of which government and public institutions 0 1,112 254 – – 1,366 Other intangible assets (mortgage servicing rights) 0 44 359 – – 403 Other assets 78 8,316 773 (220) – 8,947 of which failed purchases 54 664 12 – – 730 of which loans held-for-sale 0 7,165 648 – – 7,813 Total assets at fair value 36,220 162,611 9,313 (77,915) 943 131,172 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 490 0 – – 490 Customer deposits 0 2,212 252 – – 2,464 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,133 0 – – 14,133 Obligation to return securities received as collateral 2,318 660 0 – – 2,978 Trading liabilities 13,131 83,351 1,881 (80,026) – 18,337 of which short positions 6,556 2,595 16 – – 9,167 of which debt securities 3,228 2,232 1 – – 5,461 of which foreign governments 3,150 272 0 – – 3,422 of which corporates 53 1,957 1 – – 2,011 of which equity securities 3,328 363 15 – – 3,706 of which derivatives 6,575 80,756 1,640 (80,026) – 8,945 of which interest rate products 1,566 30,288 118 – – – of which foreign exchange products 20 26,180 1 – – – of which equity/index-related products 4,981 20,731 1,083 – – – of which credit derivatives 0 3,157 242 – – – of which other derivatives 5 210 196 – – – of which other trading liabilities 0 0 225 – – 225 Short-term borrowings 0 6,330 453 – – 6,783 Long-term debt 0 51,185 6,734 – – 57,919 of which structured notes over one year and up to two years 0 10,697 439 – – 11,136 of which structured notes over two years 0 23,409 4,307 – – 27,716 of which other debt instruments over two years 0 2,961 1,728 – – 4,689 of which high-trigger instruments 0 7,484 28 – – 7,512 Other liabilities 133 3,794 203 (1,844) – 2,286 Total liabilities at fair value 15,582 162,155 9,523 (81,870) – 105,390 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Trading assets 3,828 708 (465) 807 (1,550) 406 (349) 44 (611) 0 2 0 0 (108) 2,712 (251) of which debt securities 1,211 509 (226) 660 (1,283) 0 (21) (12) 0 0 2 0 0 (38) 802 36 of which corporates 413 347 (99) 604 (757) 0 0 (10) 25 0 0 0 0 (19) 504 67 of which RMBS 444 61 (114) 27 (313) 0 (6) 0 (2) 0 0 0 0 (10) 87 9 of which CDO 216 86 (6) 29 (158) 0 (6) 0 (1) 0 2 0 0 (3) 159 (20) of which derivatives 1,661 172 (173) 0 0 406 (293) 25 (558) 0 0 0 0 (45) 1,195 (257) of which interest rate products 671 4 (30) 0 0 33 (48) (1) (553) 0 0 0 0 (29) 47 (396) of which equity/index-related products 295 70 (79) 0 0 233 (74) 19 18 0 0 0 0 6 488 111 of which credit derivatives 130 82 (45) 0 0 28 (55) 4 (1) 0 0 0 0 (3) 140 9 of which other derivatives 548 0 0 0 0 103 (112) 1 (27) 0 0 0 0 (18) 495 21 of which other trading assets 734 10 (63) 135 (164) 0 (35) 3 (37) 0 0 0 0 (21) 562 (12) Other investments 3,313 6 (921) 15 (97) 0 0 0 (234) 0 (73) 0 0 (67) 1,942 (234) of which other equity investments 2,725 3 (921) 3 (33) 0 0 0 (226) 0 (73) 0 0 (50) 1,428 (244) of which life finance instruments 587 0 0 12 (64) 0 0 0 (8) 0 0 0 0 (17) 510 13 Loans 1,040 222 (81) 1 (17) 5 (238) 27 (125) 0 0 0 0 (19) 815 (38) of which commercial and industrial loans 300 164 (81) 0 (15) 5 (75) 25 (106) 0 0 0 0 2 219 (44) of which financial institutions 398 1 0 0 0 0 (95) 1 (6) 0 0 0 0 (12) 287 10 of which government and public institutions 254 41 0 0 (1) 0 (65) 1 (6) 0 0 0 0 (5) 219 3 Other intangible assets (mortgage servicing rights) 359 43 0 0 0 0 0 0 (54) 0 0 0 0 (11) 337 (54) Other assets 773 305 (143) 192 (179) 28 (78) 7 5 0 (2) 0 0 (1) 907 (19) of which loans held-for-sale 648 302 (142) 156 (152) 28 (77) 7 27 0 0 0 0 2 799 (1) Total assets at fair value 9,313 1,284 (1,610) 1,015 (1,843) 439 (665) 78 (1,019) 0 (73) 0 0 (206) 6,713 (596) Liabilities (CHF million) Customer deposits 252 0 0 0 0 309 (38) 0 (210) 0 0 0 (19) (20) 274 (12) Trading liabilities 1,881 401 (378) 75 (47) 417 (392) 69 490 0 0 0 0 (55) 2,461 462 of which derivatives 1,640 400 (377) 0 0 417 (392) 69 421 0 0 0 0 (46) 2,132 409 of which equity/index-related products 1,083 204 (320) 0 0 336 (122) 63 237 0 0 0 0 (29) 1,452 341 of which credit derivatives 242 167 (41) 0 0 17 (194) 4 48 0 0 0 0 (4) 239 29 of which other derivatives 196 (1) 1 0 0 49 (46) (1) 89 0 0 0 0 (8) 279 4 Short-term borrowings 453 129 (112) 0 0 128 (380) 5 (11) 0 0 0 1 (9) 204 (54) Long-term debt 6,734 2,069 (1,971) 0 0 1,552 (2,101) 103 (39) 0 (28) 29 223 (216) 6,355 47 of which structured notes over two years 4,307 1,559 (1,527) 0 0 1,426 (1,812) 97 115 0 0 27 216 (145) 4,263 225 of which other debt instruments over two years 1,728 101 0 0 0 0 (45) 0 (169) 0 0 0 0 (51) 1,564 (191) Other liabilities 203 394 (2) 24 (34) 51 (57) (2) 63 (4) (356) 0 0 (3) 277 21 Total liabilities at fair value 9,523 2,993 (2,463) 99 (81) 2,457 (2,968) 175 293 (4) (384) 29 205 (303) 9,571 464 Net assets/(liabilities) at fair value (210) (1,709) 853 916 (1,762) (2,018) 2,303 (97) (1,312) 4 311 (29) (205) 97 (2,858) (1,060) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M23, changes in net unrealized gains/(losses) of CHF (582) (246) (232) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (118) 0 0 0 (162) 0 (52) 0 0 118 3,574 (99) of which other equity investments 2,863 71 0 37 (5) 0 0 0 (115) 0 (60) 0 0 84 2,875 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) of which government and public institutions 289 95 0 0 0 0 1 (1) (25) 0 0 0 0 12 371 (26) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,988) 700 (1,119) 63 (582) 0 (56) 0 0 486 10,140 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related products 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 517 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 23 495 16 Total liabilities at fair value 14,442 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 667 10,622 (980) Net assets/(liabilities) at fair value (3,864) (717) 4,664 4,074 (3,870) (5,030) 3,056 570 560 (1) (21) 35 243 (181) (482) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) Both observable and unobservable inputs may be used to determine the fair value of positions that have been classified within level 3. As a result, the unrealized gains and losses for assets and liabilities within level 3 presented in the tables above may include changes in fair value that were attributable to both observable and unobservable inputs. The Bank employs various economic hedging techniques in order to manage risks, including risks in level 3 positions. Such techniques may include the purchase or sale of financial instruments that are classified in levels 1 and/or 2. The realized and unrealized gains and losses for assets and liabilities in level 3 presented in the tables above do not reflect the related realized or unrealized gains and losses arising on economic hedging instruments classified in levels 1 and/or 2. The Bank typically uses nonfinancial assets measured at fair value on a recurring or nonrecurring basis in a manner that reflects their highest and best use. Transfers in and out of level 3 Transfers into level 3 assets during 6M23 were CHF 1,284 million, primarily from trading assets, loans held-for-sale and loans. These transfers were primarily in the Non-Core Unit and securitized products businesses, due to limited observability of pricing data and reduced pricing information from external providers. Transfers out of level 3 assets during 6M23 were CHF 1,610 million, primarily in other investments and trading assets. These transfers were mainly from the equity investment in SIX due to a change in accounting treatment from fair value to the equity method reflecting the increase in the combined stake as a result of the acquisition by UBS. Transfers were also from securitized products and markets businesses, due to improved observability of pricing data and increased availability of pricing information from external providers. Transfers into level 3 liabilities during 6M23 were CHF 2,993 million, primarily from long-term debt and trading liabilities. These transfers were primarily in structured notes over two years and derivatives arising from a change in the observability of pricing data. Transfers out of level 3 liabilities of CHF 2,463 million in 6M23 were primarily from long-term debt and trading liabilities. These transfers were primarily in structured notes over two years and derivatives arising from a change in the observability of pricing data. Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs For level 3 assets with significant unobservable inputs of buyback probability, mortality rate, price, recovery rate or UK mortality, in general, an increase in the significant unobservable input would increase the fair value. For level 3 assets with significant unobservable inputs of correlation, credit spread, volatility, discount rate, fund gap risk, market implied life expectancy (for life settlement and premium finance instruments) or tax swap rate, in general, an increase in the significant unobservable input would decrease the fair value. For level 3 liabilities, in general, an increase in the related significant unobservable inputs would have an inverse impact on fair value. An increase in the significant unobservable inputs credit spread, fund gap risk, market implied life expectancy or price would increase the fair value. An increase in the significant unobservable inputs of buyback probability, correlation, discount rate, dividend yield, mean reversion, recovery rate, unadjusted net asset value (NAV), volatility or UK mortality would decrease the fair value. Interrelationships between significant unobservable inputs Except as noted above, there are no material interrelationships between the significant unobservable inputs for the financial instruments. As the significant unobservable inputs move independently, generally an increase or decrease in one significant unobservable input will have no impact on the other significant unobservable inputs. Quantitative disclosures of valuation techniques The following tables provide the representative range of minimum and maximum values and the associated weighted averages of each significant unobservable input for level 3 assets and liabilities by the related valuation technique most significant to the related financial instrument. Quantitative information about level 3 assets measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 2,712 of which debt securities 802 of which corporates 504 of which 97 Discounted cash flow Credit spread, in bp 35 750 407 Price, in % 0 101 52 of which 58 Market comparable Price, in % 0 97 49 Price, in actuals 100 100 100 of which 349 Price Price, in % 30 126 97 Price, in actuals 1 11,600 6,179 of which CDO 159 of which 85 Discounted cash flow Discount rate, in % 8 20 15 of which 43 Market comparable Price, in % 26 100 81 of which derivatives 1,195 of which equity/index-related products 488 of which 373 Option model Buyback probability, in % 2 50 100 69 Correlation, in % 0 100 78 Fund gap risk, in % 3 1 1 1 Volatility, in % 5 124 37 of which 94 Price Price, in % 95 95 95 Price, in actuals 0 125 19 of which other derivatives 495 Discounted cash flow Market implied life expectancy, in years 2 13 6 UK Mortality, in % 74 139 99 of which other trading assets 562 of which 436 Discounted cash flow Market implied life expectancy, in years 3 12 6 Tax swap rate, in % 30 30 30 of which 104 Market comparable Price, in % 0 104 12 of which 20 Option model Mortality rate, in % 0 70 6 Other investments 1,942 of which other equity investments 1,428 of which 1,250 Market comparable Price, in actuals 0 100 8 of which 147 Price Price, in actuals 0 524 101 of which 1 Option model Price, in actuals 98 693 396 of which life finance instruments 510 Discounted cash flow Market implied life expectancy, in years 2 14 6 Loans 815 of which commercial and industrial loans 219 of which 55 Discounted cash flow Credit spread, in bp 252 3,263 432 of which 17 Market comparable Price, in % 75 75 75 of which 146 Price Price, in % 4 100 38 of which financial institutions 287 of which 201 Discounted cash flow Credit spread, in bp 236 544 314 of which 86 Price Price, in % 23 63 56 of which government and public institutions 219 of which 125 Discounted cash flow Credit spread, in bp 231 650 357 of which 94 Price Price, in % 36 53 37 Other assets 907 of which loans held-for-sale 799 of which 281 Discounted cash flow Credit spread, in bp 244 3,263 527 Recovery rate, in % 65 65 65 of which 494 Market comparable Price, in % 0 200 77 of which 5 Price Price, in % 0 53 34 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 3,828 of which debt securities 1,211 of which corporates 413 of which 118 Discounted cash flow Credit spread, in bp 10 7,589 620 Price, in % 0 101 53 of which 75 Market comparable Price, in % 0 101 51 Price, in actuals 1 218 29 of which 216 Price Price, in % 30 126 87 Price, in actuals 0 11,640 2,203 of which RMBS 444 Discounted cash flow Discount rate, in % 3 33 12 of which derivatives 1,661 of which interest rate products 671 of which 1 Discounted cash flow Volatility, in % 95 110 103 of which 662 Option model Contingent probability, in % 95 95 95 Mean reversion, in % 2 25 25 25 Prepayment rate, in % 14 19 17 Volatility, in % (3) 1 (1) of which other derivatives 548 Discounted cash flow Market implied life expectancy, in years 2 13 6 UK Mortality, in % 74 139 99 of which other trading assets 734 of which 458 Discounted cash flow Market implied life expectancy, in years 3 13 6 Tax swap rate, in % 30 30 30 of which 251 Market comparable Price, in % 0 109 27 of which 25 Option model Mortality rate, in % 0 70 6 Other investments 3,313 of which other equity investments 2,725 of which 2,443 Market comparable Price, in actuals 0 275 109 of which 174 Price Price, in actuals 1 15 13 of which 46 Discounted cash flow Discount rate, in % 8 8 8 of which life finance instruments 587 Discounted cash flow Market implied life expectancy, in years 2 15 6 Loans 1,040 of which commercial and industrial loans 300 of which 124 Discounted cash flow Credit spread, in bp 280 2,596 756 of which 22 Market comparable Price, in % 74 74 74 of which 153 Price Price, in % 6 100 53 of which financial institutions 398 of which 282 Discounted cash flow Credit spread, in bp 242 1,278 497 of which 115 Price Price, in % 22 72 66 of which government and public institutions 254 of which 158 Discounted cash flow Credit spread, in bp 534 1,339 680 of which 96 Price Price, in % 35 42 36 Other assets 773 of which loans held-for-sale 648 of which 258 Discounted cash flow Credit spread, in bp 299 594 368 Recovery rate, in % 55 55 55 of which 363 Market comparable Price, in % 0 145 78 of which 14 Price Price, in % 0 79 59 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,461 of which derivatives 2,132 of which equity/index-related products 1,452 of which 1,416 Option model Correlation, in % 0 100 78 Dividend yield, in % 0 8 4 Volatility, in % 5 124 42 of which 20 Price Price, in actuals 0 1,562 48 of which credit derivatives 239 of which 115 Discounted cash flow Credit spread, in bp 6 752 176 Discount rate, in % 6 31 11 Recovery rate, in % 25 100 73 of which 114 Price Price, in % 99 101 100 of which other derivatives 279 Discounted cash flow Market implied life expectancy, in years 2 17 5 UK Mortality, in % 74 103 97 Short-term borrowings 204 of which 65 Discounted cash flow Credit spread, in bp 4 118 17 of which 119 Option model Correlation, in % 0 100 78 Buyback probability, in % 2 50 100 69 Fund gap risk, in % 3 1 1 1 Unadjusted NAV, in actuals 88 2,267 372 Volatility, in % 5 124 43 of which 4 Price Price, in % 20 20 20 Long-term debt 6,355 of which structured notes over two years 4,263 of which 578 Discounted cash flow Credit spread, in bp 5 363 104 of which 3,658 Option model Buyback probability, in % 2 50 100 69 Correlation, in % (10) 100 78 Credit spread, in bp 100 216 168 Fund gap risk, in % 3 1 1 1 Mean reversion, in % 4 25 25 25 Unadjusted NAV, in actuals 88 2,267 372 Volatility, in % 0 124 42 of which 4 Price Price, in % 12 12 12 of which other debt instruments over two years 1,564 of which 342 Option model Credit spread, in bp 30 707 253 of which 1,222 Price Price, in actuals 0 121 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 1,881 of which derivatives 1,640 of which equity/index-related products 1,083 of which 1,040 Option model Correlation, in % (50) 100 71 Dividend yield, in % 0 13 5 Fund gap risk, in % 2 0 2 0 Volatility, in % 5 148 29 of which 31 Price Price, in actuals 0 1,197 34 of which credit derivatives 242 of which 162 Discounted cash flow Credit spread, in bp 3 2,149 341 Discount rate, in % 6 17 11 Recovery rate, in % 10 100 69 of which 9 Market comparable Price, in % 71 101 86 of which 10 Option model Credit spread, in bp 47 1,528 194 of which 3 Price Price, in % 74 102 101 of which other derivatives 196 Discounted cash flow Market implied life expectancy, in years 2 18 6 UK Mortality, in % 74 103 97 Short-term borrowings 453 of which 8 Discounted cash flow Credit spread, in bp 142 276 267 of which 338 Option model Correlation, in % (50) 100 75 Buyback probability, in % 3 50 100 76 Volatility, in % 5 148 27 of which 94 Price Price, in % 20 20 20 Price, in actuals 1,296 1,296 1,296 Long-term debt 6,734 of which structured notes over two years 4,307 of which 508 Discounted cash flow Credit spread, in bp 10 430 142 of which 3,793 Option model Buyback probability, in % 3 50 100 76 Correlation, in % (50) 100 75 Credit spread, in bp 27 358 326 Fund gap risk, in % 2 0 2 0 Mean reversion, in % 4 25 25 25 Unadjusted NAV, in actuals 389 416 412 Volatility, in % 0 148 27 of which 6 Price Price, in % 17 17 17 of which other debt instruments over two years 1,728 of which 358 Option model Buyback probability, in % 3 50 100 76 Credit spread, in bp 50 770 317 Price, in actuals 8 8 8 of which 1,370 Price Price, in actuals 8 8 8 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Qualitative discussion of the ranges of significant unobservable inputs The level of aggregation and diversity within the financial instruments disclosed in the tables above results in certain ranges of significant inputs being wide and unevenly distributed across asset and liability categories. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Bank’s qualitative discussion of the ranges of signification unobservable inputs. Investment funds measured at net asset value per share Certain investment funds are measured at net asset value per share. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on investment funds measured at net asset value per share. Assets and liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. > Refer to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on assets and liabilities measured at fair value on a nonrecurring basis. Fair value option The Bank has availed itself of the simplification in accounting offered under the fair value option. This has been accomplished generally by electing the fair value option, both at initial adoption and for subsequent transactions, on items impacted by the hedge accounting requirements of US GAAP. For instruments for which hedge accounting could not be achieved but for which the Bank is economi |
Assets pledged and collateral
Assets pledged and collateral | 6 Months Ended |
Jun. 30, 2023 | |
Assets pledged and collateral | 24 Assets pledged and collateral The Bank pledges assets mainly for repurchase agreements and other securities financing. Certain pledged assets may be encumbered, meaning they have the right to be sold or repledged. The encumbered assets are disclosed on the consolidated balance sheet. Assets pledged end of 6M23 2022 CHF million Total assets pledged or assigned as collateral 113,063 1 63,111 of which encumbered 14,501 25,445 1 Includes Swiss mortgages pledged to SNB in connection with the Emergency Liquidity Assistance (ELA) facility. Collateral The Bank receives cash and securities in connection with resale agreements, securities borrowing and loans, derivative transactions and margined broker loans. A significant portion of the collateral and securities received by the Bank was sold or repledged in connection with repurchase agreements, securities sold not yet purchased, securities borrowings and loans, pledges to clearing organizations, segregation requirements under securities laws and regulations, derivative transactions and bank loans. Collateral end of 6M23 2022 CHF million Fair value of collateral received with the right to sell or repledge 91,345 150,198 of which sold or repledged 32,009 75,819 |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2023 | |
Litigation | 25 Litigation The Bank is involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its businesses, including those disclosed below. Some of these proceedings have been brought on behalf of various classes of claimants and seek damages of material and/or indeterminate amounts. The Bank accrues loss contingency litigation provisions and takes a charge to income in connection with certain proceedings when losses, additional losses or ranges of loss are probable and reasonably estimable. During 6M23, the Bank also accrued litigation provisions for the estimated fees and expenses of external lawyers and other service providers in relation to such proceedings, including in cases for which it had not accrued a loss contingency provision. The Bank accrued these fee and expense litigation provisions and took a charge to income in connection therewith when such fees and expenses were probable and reasonably estimable. There are also situations where the Bank may enter into a settlement agreement. This may occur in order to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which the Bank believes it should be exonerated. The Bank reviews its legal proceedings each quarter to determine the adequacy of its litigation provisions and may increase or release provisions based on management’s judgment and the advice of counsel. The establishment of additional provisions or releases of litigation provisions may be necessary in the future as developments in such proceedings warrant. The specific matters described below include (a) proceedings where the Bank has accrued a loss contingency provision, given that it is probable that a loss may be incurred and such loss is reasonably estimable; and (b) proceedings where the Bank has not accrued such a loss contingency provision for various reasons, including, but not limited to, the fact that any related losses are not reasonably estimable. The description of certain of the matters below includes a statement that the Bank has established a loss contingency provision and discloses the amount of such provision; for the other matters no such statement is made. With respect to the matters for which no such statement is made, either (a) the Bank has not established a loss contingency provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) the Bank has established such a provision but believes that disclosure of that fact would violate confidentiality obligations to which the Bank is subject or otherwise compromise attorney-client privilege, work product protection or other protections against disclosure or compromise the Bank’s management of the matter. The future outflow of funds in respect of any matter for which the Bank has accrued loss contingency provisions cannot be determined with certainty based on currently available information, and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that is reflected on the Bank’s balance sheet. It is inherently difficult to determine whether a loss is probable or even reasonably possible or to estimate the amount of any loss or loss range for many of the Bank’s legal proceedings. Estimates, by their nature, are based on judgment and currently available information and involve a variety of factors, including, but not limited to, the type and nature of the proceeding, the progress of the matter, the advice of counsel, the Bank’s defenses, its experience in similar matters, its assessment of matters, including settlements, involving other defendants in similar or related cases or proceedings, as well as changes in the Bank’s strategy for resolving the matter as a result of ongoing assessment. Factual and legal determinations, many of which are complex, must be made before a loss, additional losses or ranges of loss can be reasonably estimated for any proceeding. Most matters pending against the Bank seek damages of an indeterminate amount. While certain matters specify the damages claimed, such claimed amount may not represent the Bank’s reasonably possible losses. For certain of the proceedings discussed below, the Bank has disclosed the amount of damages claimed and certain other quantifiable information that is publicly available. The Bank’s aggregate litigation provisions include estimates of losses, additional losses or ranges of loss for proceedings for which such losses are probable and can be reasonably estimated. The Bank does not believe that it can estimate an aggregate range of reasonably possible losses for certain of its proceedings because of their complexity, the novelty of some of the claims, the early stage of the proceedings, the limited amount of discovery that has occurred and/or other factors. Taking into account the factors discussed in the paragraphs above, the Bank has estimated the aggregate range of reasonably possible losses that are not covered by existing provisions for the proceedings discussed below for which the Bank believes an estimate is possible is zero to CHF 2.7 billion. In 6M23, the Bank recorded net litigation provisions of CHF 1,480 million. After taking into account its litigation provisions, the Bank believes, based on currently available information and advice of counsel, that the results of its legal proceedings, in the aggregate, will not have a material adverse effect on the Bank’s financial condition. However, in light of the inherent uncertainties of such proceedings, including those brought by regulators or other governmental authorities, the ultimate cost to the Bank of resolving such proceedings may exceed current litigation provisions and any excess may be material to its operating results for any particular period, depending, in part, upon the operating results for such period. Mortgage-related matters Government and regulatory related matters DOJ RMBS settlement On January 18, 2017, Credit Suisse Securities (USA) LLC (CSS LLC) and its current and former US subsidiaries and US affiliates reached a settlement with the US Department of Justice (DOJ) related to its legacy Residential Mortgage-Backed Securities (RMBS) business, a business conducted through 2007. The settlement resolved potential civil claims by the DOJ related to certain of those Credit Suisse entities’ packaging, marketing, structuring, arrangement, underwriting, issuance and sale of RMBS. Pursuant to the terms of the settlement a civil monetary penalty was paid to the DOJ in January 2017. The settlement also required the Credit Suisse entities to provide certain levels of consumer relief measures, including affordable housing payments and loan forgiveness, and the DOJ and Credit Suisse agreed to the appointment of an independent monitor to oversee the completion of the consumer relief requirements of the settlement. Credit Suisse continues to evaluate its approach toward satisfying its remaining consumer relief obligations, and Credit Suisse currently anticipates that it will take much longer than the five-year period provided in the settlement to satisfy in full its obligations in respect of these consumer relief measures, subject to risk appetite and market conditions. Credit Suisse expects to incur costs in relation to satisfying those obligations. The amount of consumer relief Credit Suisse must provide also increases after 2021 pursuant to the original settlement by 5% Civil litigation Repurchase litigations CSS LLC and/or certain of its affiliates have also been named as defendants in various civil litigation matters related to their roles as issuer, sponsor, depositor, underwriter and/or servicer of RMBS transactions. These cases currently include repurchase actions by RMBS trusts and/or trustees, in which plaintiffs generally allege breached representations and warranties in respect of mortgage loans and failure to repurchase such mortgage loans as required under the applicable agreements. The amounts disclosed below do not reflect actual realized plaintiff losses to date or anticipated future litigation exposure. Unless otherwise stated, these amounts reflect the original unpaid principal balance amounts as alleged in these actions and do not include any reduction in principal amounts since issuance. DLJ Mortgage Capital, Inc. (DLJ) is a defendant in New York state court in: (i) one action brought by Asset Backed Securities Corporation Home Equity Loan Trust, Series 2006-HE7, in which plaintiff alleges damages of not less than USD 374 million in an amended complaint filed on August 19, 2019; on January 13, 2020, DLJ filed a motion to dismiss; (ii) one action brought by Home Equity Asset Trust, Series 2006-8, in which plaintiff alleges damages of not less than USD 436 million; (iii) one action brought by Home Equity Asset Trust 2007-1, in which plaintiff alleges damages of not less than USD 420 million; on December 27, 2018, the court denied DLJ’s motion for partial summary judgment in this action, which was affirmed on appeal; on March 17, 2022, the New York State Court of Appeals reversed the decision and ordered that DLJ’s motion for partial summary judgment be granted; a non-jury trial in the action was held between January 23 and February 3, 2023, and a decision is pending; (iv) one action brought by Home Equity Asset Trust 2007-2, in which plaintiff alleges damages of not less than USD 495 million; and (v) one action brought by CSMC Asset-Backed Trust 2007-NC1, in which no damages amount is alleged. These actions are at various procedural stages. DLJ is also a defendant in one action brought by Home Equity Asset Trust Series 2007-3, in which plaintiff alleges damages of not less than USD 206 million. On March 5, 2022, DLJ and the plaintiffs executed an agreement to settle this action. The settlement remains subject to approval through a trust instruction proceeding brought in Minnesota state court by the trustee of the plaintiff trust. DLJ and its affiliate, Select Portfolio Servicing, Inc. (SPS), were defendants in two consolidated actions in New York state court: one action brought by Home Equity Mortgage Trust Series 2006-1, Home Equity Mortgage Trust Series 2006-3 and Home Equity Mortgage Trust Series 2006-4, in which plaintiffs allege damages of not less than USD 730 million; and one action brought by Home Equity Mortgage Trust Series 2006-5, in which plaintiff alleges damages of not less than USD 500 million. On April 19, 2021, DLJ, SPS and the plaintiffs executed an agreement to settle both actions for the aggregate amount of USD 500 million, for which Credit Suisse was fully reserved. On May 2, 2023, the Minnesota state court approved the settlement through a trust instruction proceeding brought by the trustee of the plaintiff trusts. The New York state court dismissed the underlying actions with prejudice on July 10, 2023. Loreley On November 15, 2018, Loreley Financing (Jersey) No. 30 Limited (L30) filed a claim in the English High Court against Credit Suisse AG and certain affiliates seeking USD 100 million in damages, plus interest and costs, on the basis of a number of causes of action, including fraudulent misrepresentation. The claim concerns losses allegedly suffered by L30 relating to its purchase of certain notes in July 2007 issued in Ireland by Magnolia Finance II plc and linked to the credit of a reference portfolio of RMBS. Following service of the claim in the first quarter of 2020, Credit Suisse filed its defense in June 2020. L30 served further amended versions of its claim in January and October 2022. Credit Suisse filed its amended defense in November 2022. Trial concluded in June 2023 and a decision is pending. Bank loan litigation CSS LLC and certain of its affiliates are the subject of two litigations brought by entities related to Highland Capital Management LP (Highland) relating to certain real estate developments. Credit Suisse defendants in these matters arranged, and acted as the agent bank for, syndicated loans provided to borrowers affiliated with such real estate developments, and who have since gone through bankruptcy or foreclosure. In the case in Texas state court, a jury trial was held in December 2014 and a verdict was issued for the plaintiff on its claim for fraudulent inducement by affirmative misrepresentation. The Texas judge held a bench trial on Highland’s remaining claims and entered judgment in the amount of USD 287 million (including prejudgment interest) for the plaintiff on September 4, 2015. Ultimately, the Texas Supreme Court issued a ruling reversing a portion of the trial court’s September 4, 2015 judgment related to the bench trial claims, including damages of approximately USD 212 million, exclusive of interest, but left standing the separate December 2014 jury verdict and remanded the case back to the trial court for further proceedings. On June 25, 2021, the trial court entered a new judgment, which awarded plaintiff approximately USD 121 million. On February 14, 2023, the appeals court issued a ruling, reversing in favor of CSS LLC a portion of the trial court’s June 25, 2021 judgment and remanding the case to the trial court for further proceedings. On July 26, 2023, Highland filed a petition seeking leave to appeal the decision to the Texas Supreme Court. In the case in New York state court, the court granted in part and denied in part CSS LLC and certain of its affiliates’ summary judgment motion. Both parties appealed that decision, but the appellate court affirmed the decision in full. The case is currently in discovery. Tax and securities law matters On May 19, 2014, Credit Suisse AG entered into settlement agreements with several US regulators regarding its US cross-border matters. As part of the agreements, Credit Suisse AG, among other things, engaged an independent corporate monitor that reports to the New York State Department of Financial Services. As of July 31, 2018, the monitor concluded both his review and his assignment. Credit Suisse AG continues to report to and cooperate with US authorities in accordance with Credit Suisse AG’s obligations under the agreements, including by conducting a review of cross-border services provided by Credit Suisse’s Switzerland-based Israel Desk. Most recently, Credit Suisse AG has provided information to US authorities regarding potentially undeclared US assets held by clients at Credit Suisse AG since the May 2014 plea. Credit Suisse AG continues to cooperate with the authorities. In March 2023, the US Senate Finance Committee issued a report criticizing Credit Suisse AG’s history regarding US tax compliance. The report called on the DOJ to investigate Credit Suisse AG’s compliance with the 2014 plea. In February 2021, a qui tam Rates-related matters Regulatory matters Regulatory authorities in a number of jurisdictions, including the US, UK, EU and Switzerland, have for an extended period of time been conducting investigations into the setting of LIBOR and other reference rates with respect to a number of currencies, as well as the pricing of certain related derivatives. These ongoing investigations have included information requests from regulators regarding LIBOR-setting practices and reviews of the activities of various financial institutions, including Credit Suisse Group AG, which was a member of three LIBOR rate-setting panels (US Dollar LIBOR, Swiss Franc LIBOR and Euro LIBOR). Credit Suisse is cooperating fully with these investigations. Regulatory authorities in a number of jurisdictions, including the Swiss Competition Commission (WEKO), the European Commission (Commission), the South African Competition Commission and the Brazilian Competition Authority have been conducting investigations into the trading activities, information sharing and the setting of benchmark rates in the foreign exchange (including electronic trading) markets. On March 31, 2014, WEKO announced its formal investigation of numerous Swiss and international financial institutions, including Credit Suisse Group AG, in relation to the setting of exchange rates in foreign exchange trading. Credit Suisse continues to cooperate with this ongoing investigation. Credit Suisse Group AG, Credit Suisse AG and Credit Suisse Securities (Europe) Limited (CSSEL) received a Statement of Objections and a Supplemental Statement of Objections from the Commission on July 26, 2018 and March 19, 2021, respectively, alleging that Credit Suisse entities engaged in anticompetitive practices in connection with their foreign exchange trading business. On December 6, 2021, the Commission issued a formal decision imposing a fine of EUR 83.3 million. On February 15, 2022, Credit Suisse appealed this decision to the EU General Court. The reference rates investigations have also included information requests from regulators concerning supranational, sub-sovereign and agency (SSA) bonds and commodities markets. Credit Suisse Group AG and CSSEL received a Statement of Objections from the Commission on December 20, 2018, alleging that Credit Suisse entities engaged in anticompetitive practices in connection with their SSA bonds trading business. On April 28, 2021, the Commission issued a formal decision imposing a fine of EUR 11.9 million. On July 8, 2021, Credit Suisse appealed this decision to the EU General Court. Civil litigation USD LIBOR litigation Beginning in 2011, certain Credit Suisse entities were named in various putative class and individual lawsuits filed in the US, alleging banks on the US dollar LIBOR panel manipulated US dollar LIBOR to benefit their reputation and increase profits. All remaining matters have been consolidated for pre-trial purposes into a multi-district litigation in the US District Court for the Southern District of New York (SDNY). In a series of rulings between 2013 and 2019 on motions to dismiss, the SDNY (i) narrowed the claims against the Credit Suisse entities and the other defendants (dismissing antitrust, Racketeer Influenced and Corrupt Organizations Act (RICO), Commodity Exchange Act, and state law claims), (ii) narrowed the set of plaintiffs who may bring claims, and (iii) narrowed the set of defendants in the LIBOR actions (including the dismissal of several Credit Suisse entities from various cases on personal jurisdiction and statute of limitation grounds). After a number of putative class and individual plaintiffs appealed the dismissal of their antitrust claims to the United States Court of Appeals for the Second Circuit (Second Circuit), on December 30, 2021, the Second Circuit affirmed in part and reversed in part the district court’s decision and remanded the case to the SDNY. On September 21, 2021, in the putative class action brought in the multi-district litigation in the SDNY by holders of bonds tied to LIBOR, Credit Suisse entered into an agreement to settle all claims. On November 7, 2022 and March 28, 2023, respectively, the court entered orders granting preliminary and final approval to the agreement to settle all claims. Separately, on May 4, 2017, the plaintiffs in three putative class actions moved for class certification. On February 28, 2018, the SDNY denied certification in two of the actions and granted certification over a single antitrust claim in an action brought by over-the-counter purchasers of LIBOR-linked derivatives. USD ICE LIBOR litigation On August 18, 2020, members of the ICE LIBOR panel, including Credit Suisse Group AG and certain of its affiliates, were named in a civil action in the US District Court for the Northern District of California, alleging that panel banks manipulated ICE LIBOR to profit from variable interest loans and credit cards. On December 23, 2021, the court denied plaintiffs’ motion for preliminary and permanent injunctions to enjoin panel banks from continuing to set LIBOR or automatically setting the benchmark to zero each day, and on September 13, 2022, the court granted defendants’ motions to dismiss. On October 4, 2022, plaintiffs filed an amended complaint. On November 4, 2022, defendants filed a motion to dismiss the amended complaint. CHF LIBOR litigation In February 2015, various banks that served on the Swiss franc LIBOR panel, including Credit Suisse Group AG, were named in a civil putative class action lawsuit filed in the SDNY, alleging manipulation of Swiss franc LIBOR to benefit defendants’ trading positions. After defendants’ motion to dismiss for lack of subject matter jurisdiction was granted and plaintiffs successfully appealed, on July 13, 2022, Credit Suisse entered into an agreement to settle all claims. On February 15, 2023 and September 27, 2023, respectively, the court entered orders granting preliminary and final approval to the agreement to settle all claims. Foreign exchange litigation Credit Suisse Group AG and affiliates as well as other financial institutions have been named in civil lawsuits relating to the alleged manipulation of foreign exchange rates. The first matter is a consolidated class action, in which a jury trial was held in October 2022 on the issues of whether a conspiracy existed to manipulate bid-ask spreads in the FX market and whether Credit Suisse knowingly participated in any such conspiracy. On October 20, 2022, a verdict was issued in favor of Credit Suisse, finding that Credit Suisse did not knowingly participate in any such conspiracy, and on March 28, 2023, the court entered final judgment against plaintiffs and in favor of Credit Suisse on all remaining claims. Plaintiffs did not file an appeal by the April 27, 2023 deadline. Credit Suisse AG, together with other financial institutions, was also named in a consolidated putative class action in Israel, which made allegations similar to the consolidated class action. On April 4, 2022, Credit Suisse entered into an agreement to settle all claims. The settlement remains subject to court approval. Treasury markets litigation CSS LLC, along with over 20 other primary dealers of US treasury securities, was named in a number of putative civil class action complaints in the US relating to the US treasury markets. These complaints generally alleged that the defendants colluded to manipulate US treasury auctions, as well as the pricing of US treasury securities in the when-issued market, with impacts upon related futures and options, and that certain of the defendants participated in a group boycott to prevent the emergence of anonymous all-to-all trading in the secondary market for treasury securities. On March 31, 2022, the SDNY granted defendants’ motion to dismiss and dismissed with prejudice all claims against the defendants. On April 28, 2022, plaintiffs filed a notice of appeal. SSA bonds litigation Credit Suisse Group AG and certain of its affiliates, together with other financial institutions, were named in two Canadian putative class actions, which allege that defendants conspired to fix the prices of SSA bonds sold to and purchased from investors in the secondary market. One putative class action was dismissed against Credit Suisse on February 19, 2020. On October 18, 2022, in the second action, Credit Suisse entered into an agreement to settle all claims. The settlement remains subject to court approval. Credit default swap auction litigation On June 30, 2021, Credit Suisse Group AG and affiliates, along with other banks and entities, were named in a putative class action complaint filed in the US District Court for the District of New Mexico alleging manipulation of credit default swap (CDS) final auction prices. On April 5, 2022, defendants filed a motion to dismiss. On June 5, 2023, the court granted in part and denied in part defendants’ motion to dismiss. OTC trading cases Interest rate swaps litigation Credit Suisse Group AG and affiliates, along with other financial institutions, have been named in a consolidated putative civil class action complaint and complaints filed by individual plaintiffs relating to interest rate swaps, alleging that dealer defendants conspired with trading platforms to prevent the development of interest rate swap exchanges. The individual lawsuits were brought by TeraExchange LLC, a swap execution facility, and affiliates; Javelin Capital Markets LLC, a swap execution facility, and an affiliate; and trueEX LLC, a swap execution facility, which claim to have suffered lost profits as a result of defendants’ alleged conspiracy. All interest rate swap actions have been consolidated in a multi-district litigation in the SDNY. Defendants moved to dismiss the putative class and individual actions, and the SDNY granted in part and denied in part these motions. On February 20, 2019, class plaintiffs in the consolidated multi-district litigation filed a motion for class certification. On March 20, 2019, class plaintiffs filed a fourth amended consolidated class action complaint. On January 21, 2022, Credit Suisse entered into an agreement to settle all class action claims. The settlement remains subject to court approval. The individual lawsuits are stayed pending a decision on plaintiffs’ motion for class certification. Credit default swaps litigation On June 8, 2017, Credit Suisse Group AG and affiliates, along with other financial institutions, were named in a civil action filed in the SDNY by Tera Group, Inc. and related entities (Tera), alleging violations of antitrust law in connection with the allegation that CDS dealers conspired to block Tera’s electronic CDS trading platform from successfully entering the market. On July 30, 2019, the SDNY granted in part and denied in part defendants’ motion to dismiss. On January 30, 2020, plaintiffs filed an amended complaint. On April 3, 2020, defendants filed a motion to dismiss. Stock loan litigation Credit Suisse Group AG and certain of its affiliates, as well as other financial institutions, were originally named in a number of civil lawsuits in the SDNY, certain of which are brought by class action plaintiffs alleging that the defendants conspired to keep stock-loan trading in an over-the-counter market and collectively boycotted certain trading platforms that sought to enter the market, and certain of which are brought by trading platforms that sought to enter the market alleging that the defendants collectively boycotted the platforms. On January 20, 2022, Credit Suisse entered into an agreement to settle all class action claims. On February 25, 2022, the court entered an order granting preliminary approval to the agreement to settle all class action claims. The settlement remains subject to final court approval. On October 1, 2021, in a consolidated civil litigation brought in the SDNY by entities that developed a trading platform for stock loans that sought to enter the market, alleging that the defendants collectively boycotted the platform, the court granted defendants’ motion to dismiss. On October 25, 2021, plaintiffs filed a notice of appeal. On March 24, 2023, the Second Circuit affirmed the decision granting defendants’ motion to dismiss. Odd-lot corporate bond litigation On April 21, 2020, CSS LLC and other financial institutions were named in a putative class action complaint filed in the SDNY, alleging a conspiracy among the financial institutions to boycott electronic trading platforms and fix prices in the secondary market for odd-lot corporate bonds. On October 25, 2021, the SDNY granted defendants’ motion to dismiss. On November 23, 2021, plaintiffs filed a notice of appeal to the Second Circuit. ATA litigation Since November 2014, a series of lawsuits have been filed against a number of banks, including Credit Suisse AG and, in two instances, Credit Suisse AG, New York Branch, in the US District Court for the Eastern District of New York (EDNY) and the SDNY alleging claims under the United States Anti-Terrorism Act (ATA) and the Justice Against Sponsors of Terrorism Act. The plaintiffs in each of these lawsuits are, or are relatives of, victims of various terrorist attacks in Iraq and allege a conspiracy and/or aiding and abetting based on allegations that various international financial institutions, including the defendants, agreed to alter, falsify or omit information from payment messages that involved Iranian parties for the express purpose of concealing the Iranian parties’ financial activities and transactions from detection by US authorities. The lawsuits allege that this conduct has made it possible for Iran to transfer funds to Hezbollah and other terrorist organizations actively engaged in harming US military personnel and civilians. On January 5, 2023, the United States Court of Appeals for the Second Circuit affirmed a September 16, 2019 ruling by the EDNY granting defendants’ motion to dismiss the first filed lawsuit. On May 8, 2023, plaintiffs filed a petition for a writ of certiorari in the United States Supreme Court. Of the other seven cases, four are stayed pending the outcome of the petition for a writ of certiorari, including one that was dismissed as to Credit Suisse and most of the bank defendants prior to entry of the stay, and in three the court has set a schedule for plaintiffs to file amended complaints, including two that were dismissed prior to the court setting a schedule for plaintiffs to replead. Customer account matters Several clients have claimed that a former relationship manager in Switzerland had exceeded his investment authority in the management of their portfolios, resulting in excessive concentrations of certain exposures and investment losses. Credit Suisse AG is investigating the claims, as well as transactions among the clients. Credit Suisse AG filed a criminal complaint against the former relationship manager with the Geneva Prosecutor’s Office upon which the prosecutor initiated a criminal investigation. Several clients of the former relationship manager also filed criminal complaints with the Geneva Prosecutor’s Office. On February 9, 2018, the former relationship manager was sentenced to five years in prison by the Geneva criminal court for fraud, forgery and criminal mismanagement and ordered to pay damages of approximately USD 130 million. Several parties appealed the judgment. On June 26, 2019, the Criminal Court of Appeals of Geneva ruled in the appeal of the judgment against the former relationship manager, upholding the main findings of the Geneva criminal court. Several parties appealed the decision to the Swiss Federal Supreme Court. On February 19, 2020, the Swiss Federal Supreme Court rendered its judgment on the appeals, substantially confirming the findings of the Criminal Court of Appeals of Geneva. Civil lawsuits have been initiated against Credit Suisse AG and/or certain affiliates in various jurisdictions, based on the findings established in the criminal proceedings against the former relationship manager. In Singapore, in the civil lawsuit brought against Credit Suisse Trust Limited, a Credit Suisse AG affiliate, on May 26, 2023, the Singapore International Commercial Court issued a first instance judgment finding for the plaintiffs and directing the parties’ experts to agree on the amount of the damages award according to the calculation method and parameters adopted by the court. As the parties’ experts were unable to agree on the amount of the damages, following court directions, the parties filed their proposed draft orders with supporting documents on August 25, 2023. On September 19, 2023, the court ruled that the damages under its May 26, 2023 judgment are USD 742.73 million, excluding post-judgment interest. This figure does not exclude potential overlap with the Bermuda proceedings against Credit Suisse Life (Bermuda) Ltd., which are currently being appealed. The court ordered the parties to ensure that there shall be no double recovery in relation to this award and any sum recovered in the Bermuda proceedings. Credit Suisse Trust Limited intends to appeal the judgment and has applied for a stay of execution pending that appeal. In Bermuda, in the civil lawsuit brought against Credit Suisse Life (Bermuda) Ltd., a Credit Suisse AG affiliate, trial took place in the Supreme Court of Bermuda in November and December 2021. The Supreme Court of Bermuda issued a first instance judgment on March 29, 2022, finding for the plaintiff. On May 6, 2022, the Supreme Court of Bermuda issued an order awarding damages of USD 607.35 million to the plaintiff. On May 9, 2022, Credit Suisse Life (Bermuda) Ltd. appealed the decision to the Bermuda Court of Appeal. On July 25, 2022, the Supreme Court of Bermuda granted a stay of execution of its j |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2022 included in the Credit Suisse Annual Report 2022. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments, which, on a normal recurring basis, are necessary for a fair statement of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 6M23 6M22 Net revenues (CHF million) Wealth Management 1,655 2,641 Swiss Bank 1,845 2,223 Asset Management 155 630 Investment Bank 933 2,450 Capital Release Unit (1,275) 437 Corporate Center 14,566 (324) Adjustments 1 (777) 2 73 Net revenues 17,102 8,130 Income/(loss) before taxes (CHF million) Wealth Management (2,723) 147 Swiss Bank 156 888 Asset Management (1,401) 98 Investment Bank (2,400) (596) Capital Release Unit (3,181) (1,022) Corporate Center 13,339 (1,116) Adjustments 1 (851) (153) Income/(loss) before taxes 2,939 (1,754) 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. 2 Includes a gain of CHF 894 million from the write-down of additional tier 1 capital notes relating to Credit Suisse Group AG. Total assets end of 6M23 2022 Total assets (CHF million) Wealth Management 95,610 128,192 Swiss Bank 189,213 197,627 Asset Management 1,538 3,382 Investment Bank 86,514 74,932 Capital Release Unit 67,046 102,648 Corporate Center 47,734 24,577 Adjustments 1 (3,920) (1,319) Total assets 483,735 530,039 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. |
Net interest income (Tables)
Net interest income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Net interest income | in 6M23 6M22 Net interest income (CHF million) Loans 4,105 2,479 Investment securities 38 (12) Trading assets, net of trading liabilities 1 823 1,264 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,565 619 Other 2,107 335 Interest and dividend income 8,638 4,685 Deposits (1,585) (330) Short-term borrowings (1,264) (28) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (481) (240) Long-term debt (3,023) (1,205) Other (486) (197) Interest expense (6,839) (2,000) Net interest income 1,799 2,685 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Trading revenues | in 6M23 6M22 Trading revenues (CHF million) Interest rate products (1,728) (896) Foreign exchange products 332 (132) Equity/index-related products 92 380 Credit products (311) 1,039 Commodity and energy products (23) 40 Other products (508) (477) Trading revenues (2,146) (46) Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Provision for credit losses | in 6M23 6M22 Provision for credit losses (CHF million) Loans held at amortized cost 206 114 Other financial assets held at amortized cost 12 (147) 1 Off-balance sheet credit exposures (1) (14) Provision for credit losses 217 (47) 1 Primarily reflected a release of provision for credit losses of CHF (155) |
Restructuring expenses (Tables)
Restructuring expenses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by type in 6M23 6M22 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 160 105 of which severance expenses 88 27 of which accelerated deferred compensation 65 70 General and administrative-related expenses 231 15 of which pension expenses 15 1 Total restructuring expenses 391 120 Restructuring expenses by segment in 6M23 6M22 Restructuring expenses by segment (CHF million) Wealth Management 46 22 Swiss Bank 36 3 Asset Management 5 1 Investment Bank 150 32 Capital Release Unit 137 67 Corporate Center 48 1 Adjustments 1 (31) (6) Total restructuring expenses 391 120 1 Adjustments represent certain consolidating entries, including those relating to entitites that are managed but are not owned or wholly owned by the Bank. |
Restructuring Provisions [Table Text Block] | Restructuring liabilities 6M23 6M22 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 114 0 114 19 0 19 Net additional charges 1 88 119 207 27 13 40 Utilization (156) (114) (270) (17) (13) (30) Balance at end of period 46 5 51 29 0 29 1 The following items for which expense accretion was accelerated in 6M23 and 6M22 due to the restructuring of the Bank were not included in the restructuring liabilities: unsettled share-based compensation of CHF 4 million and CHF 30 million, respectively, which remain classified as a component of total shareholders's equity; other personnel-related charges of CHF 68 million and CHF 48 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 15 million and CHF 1 million, which remain classified as pension liabilities; and accelerated accumulated depreciation and impairment of CHF 97 million and CHF 1 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 6M23 6M22 Contracts with customers (CHF million) Investment and portfolio management 1,308 1,578 Other securities business 33 29 Underwriting 117 370 Brokerage 765 1,277 Other services 469 786 Total revenues from contracts with customers 2,692 4,040 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 6M23 2022 Contract balances (CHF million) Contract receivables 580 686 Contract liabilities 47 54 in 2Q23 1Q23 Revenue recognized (CHF million) Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 7 10 |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investment securities | end of 6M23 2022 Investment securities (CHF million) Debt securities held-to-maturity 1,498 921 Debt securities available-for-sale 854 796 Total investment securities 2,352 1,717 |
Investment securities by type | Investment securities by type 6M23 2022 Allowance Gross Gross Allowance Gross Gross Investment securities by type (CHF million) Foreign governments 1,498 0 0 31 1,467 921 0 0 40 881 Debt securities held-to-maturity 1,498 1 0 0 31 1,467 921 1 0 0 40 881 Corporate debt securities 1,004 0 0 150 854 952 0 0 156 796 Debt securities available-for-sale 1,004 2 0 0 150 854 952 2 0 0 156 796 1 Excludes accrued interest on debt securities held-to-maturity of CHF 18 million and CHF 10 million as of the end of 6M23 and 2022, respectively, with no related allowance for credit losses. Accrued interest is reported in other assets in the consolidated balance sheet. 2 Excludes accrued interest on debt securities available-for-sale of CHF 4 million and CHF 1 million as of the end of 6M23 and 2022, respectively. Accrued interest is reported in other assets in the consolidated balance sheet. |
Gross unrealized losses on investment securities and the related fair value | Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 6M23 (CHF million) Corporate debt securities 179 6 666 144 845 150 Debt securities available-for-sale 179 6 666 144 845 150 2022 (CHF million) Corporate debt securities 374 58 404 98 778 156 Debt securities available-for-sale 374 58 404 98 778 156 |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M23 6M22 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 45 Realized losses 0 (6) |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Debt securities Debt securities Average Average 6M23 (CHF million) Due within 1 year 0 0 0 8 8 0.53 Due from 1 to 5 years 1,498 1,467 3.67 285 251 0.14 Due from 5 to 10 years 0 0 0 711 595 0.70 Total debt securities 1,498 1 1,467 3.67 1,004 2 854 0.54 1 Excluded accrued interest on debt securities held-to-maturity of CHF 18 million. 2 Excluded accrued interest on debt securities available-for-sale of CHF 4 million. |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other investments | end of 6M23 2022 Other investments (CHF million) Equity method investments 2,151 1,618 Equity securities (without a readily determinable fair value) 1 1,959 3,212 of which at net asset value 112 72 of which at measurement alternative 375 366 of which at fair value 1,430 2,727 of which at cost less impairment 42 47 Real estate held-for-investment 2 47 46 Life finance instruments 3 510 587 Total other investments 4,667 5,463 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M23 and 2022, real estate held-for-investment included foreclosed or repossessed real estate of CHF 21 million and CHF 20 million, respectively, of which CHF 21 million and CHF 20 million, respectively, were related to residential real estate. 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative in / end of 6M23 Cumulative 6M22 Impairments and adjustments (CHF million) Impairments and downward adjustments (12) (66) (4) Upward adjustments 0 147 0 |
Loans, allowance for loan los_2
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loans | end of 6M23 2022 Loans (CHF million) Mortgages 104,202 107,484 Loans collateralized by securities 31,776 37,639 Consumer finance 5,877 5,701 Consumer 141,855 150,824 Real estate 23,153 25,463 Commercial and industrial loans 58,665 62,740 Financial institutions 26,964 27,955 Governments and public institutions 2,258 2,555 Corporate & institutional 111,040 118,713 Gross loans 252,895 269,537 of which held at amortized cost 248,339 262,179 of which held at fair value 4,556 7,358 Net (unearned income)/deferred expenses (86) (71) Allowance for credit losses (1,522) (1,362) Net loans 251,287 268,104 Gross loans by location (CHF million) Switzerland 158,830 166,982 Foreign 94,065 102,555 Gross loans 252,895 269,537 Impaired loan portfolio (CHF million) Non-performing loans 1,626 1,614 Non-interest-earning loans 286 338 Non-accrual loans 1,912 1,952 Restructured loans 1 – 484 Potential problem loans 1,323 977 Other impaired loans 1,323 1,461 Gross impaired loans 2 3,235 3,413 1 In connection with the adoption of new accounting guidance for loan modifications on January 1, 2023, the previous accounting guidance for troubled debt restructurings was superseded, with disclosures under the new accounting guidance applied prospectively. Accordingly, restructured loans were reclassified to either potential problem loans or non-impaired loans and are no longer presented as its own impaired loan category. 2 As of the end of 6M23 and 2022, CHF 102 million and CHF 130 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
CECL - Financial instruments _2
CECL - Financial instruments measured at amortized cost and credit losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 6M23 2022 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 100,001 (4) 99,997 67,548 0 67,548 Interest-bearing deposits with banks 323 2 0 323 373 4 0 373 Securities purchased under resale agreements and securities borrowing transactions 21,086 0 21,086 18,005 4 0 18,005 Debt securities held-to-maturity 1,498 2 0 1,498 921 4 0 921 Loans 248,253 2,3 (1,522) 246,731 262,108 4,5 (1,362) 260,746 Brokerage receivables 4,005 0 4,005 17,899 (4,081) 13,818 Other assets 15,848 (39) 15,809 23,521 (37) 23,484 Total 391,014 (1,565) 389,449 390,375 (5,480) 384,895 1 Net of unearned income/deferred expenses, as applicable. 2 Excluded accrued interest in the total amount of CHF 592 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 18 million to debt securities held-to-maturity and CHF 573 million to loans. These accrued interest balances are reported in other assets. 3 Included interest of CHF 106 million on non-accrual loans which were reported as part of the loans' amortized cost balance. 4 Excluded accrued interest in the total amount of CHF 549 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 4 million to securities purchased under resale agreements and securities borrowing transactions, CHF 10 million to debt securities held-to-maturity and CHF 534 million to loans. These accrued interest balances are reported in other assets. 5 Included interest of CHF 102 million on non-accrual loans which were reported as part of the loans' amortized cost balance. |
Allowance for credit losses - loans held at amortized cost | Allowance for credit losses – loans held at amortized cost 6M23 6M22 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 359 1,007 1,366 1 357 939 1,296 Current-period provision for expected credit losses 81 172 253 43 92 135 of which provisions for interest 2 17 30 47 10 11 21 Gross write-offs (35) (44) (79) (26) (69) (95) Recoveries 4 0 4 4 3 7 Net write-offs (31) (44) (75) (22) (66) (88) Foreign currency translation impact and other adjustments, net (7) (15) (22) 5 11 16 Balance at end of period 402 1,120 1,522 383 976 1,359 of which individually evaluated 275 664 939 281 544 825 of which collectively evaluated 127 456 583 102 432 534 1 Includes a net impact of CHF 4 million from the adoption of new accounting guidance for loan modifications on January 1, 2023, all of which are reflected in corporate & institutional loans. 2 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. |
Purchases, reclassifications and sales - loans held at amortized cost | Purchases, reclassifications and sales – loans held at amortized cost 6M23 6M22 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 19 2,302 2,321 16 2,312 2,328 Reclassifications from loans held-for-sale 2 0 621 621 0 95 95 Reclassifications to loans held-for-sale 3 0 1,312 1,312 0 1,480 1,480 Sales 3 0 606 606 0 1,283 1,283 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Reflects loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held at amortized cost. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. |
CECL Macro economic factors | Selected macroeconomic factors Forecast Forecast US real GDP growth rate (%) Baseline 0.7 0.3 Mild debt crisis 0.4 (0.7) Stagflationary geopolitical crisis (1.2) (3.0) World industrial production (%) Baseline 1.2 3.3 Mild debt crisis (2.0) (2.0) Stagflationary geopolitical crisis (4.5) (1.4) China real GDP growth rate (%) Baseline 5.2 4.7 Mild debt crisis 3.7 2.4 Stagflationary geopolitical crisis 1.4 (0.9) EU nominal GDP growth rate (%) Baseline 4.1 3.7 Mild debt crisis 2.8 (0.7) Stagflationary geopolitical crisis 5.3 2.9 Swiss nominal GDP growth rate (%) Baseline 3.3 2.7 Mild debt crisis 1.7 (0.9) Stagflationary geopolitical crisis 2.4 1.6 Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. Selected macroeconomic factors (continued) Forecast Forecast US real GDP growth rate (%) Downside (1.7) 0.5 Baseline 0.9 1.5 Upside 1.2 2.0 World industrial production (%) Downside (6.8) 0.4 Baseline 1.2 1.9 Upside 3.9 3.9 China real GDP growth rate (%) Downside (0.9) 2.1 Baseline 4.5 4.9 Upside 6.2 5.8 EU nominal GDP growth rate (%) Downside 3.4 2.3 Baseline 5.2 4.1 Upside 5.5 3.8 Swiss nominal GDP growth rate (%) Downside 0.0 1.0 Baseline 2.7 2.0 Upside 3.2 2.1 Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. |
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | Allowance for credit losses – other financial assets held at amortized cost 6M23 6M22 Allowance for credit losses (CHF million) Balance at beginning of period 4,118 4,214 Current-period provision for expected credit losses 12 (147) Gross write-offs (4,031) (4) Recoveries 0 0 Net write-offs (4,031) (4) Foreign currency translation impact and other adjustments, net (56) 186 Balance at end of period 43 4,249 of which individually evaluated 20 4,230 of which collectively evaluated 23 19 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2023 / 2022 5,118 394 16 5,528 0 12,501 1,540 8 14,049 2022 / 2021 11,914 1,394 11 13,319 0 21,627 1,396 45 23,068 2021 / 2020 19,465 1,167 56 20,688 0 12,869 1,111 19 13,999 2020 / 2019 12,173 996 76 13,245 0 10,029 1,271 67 11,367 2019 / 2018 9,539 1,209 65 10,813 0 6,609 650 36 7,295 Prior years 37,618 1,910 168 39,696 4 34,525 1,931 210 36,666 Total term loans 95,827 7,070 392 103,289 4 98,160 7,899 385 106,444 Revolving loans 187 720 6 913 0 229 807 4 1,040 Total 96,014 7,790 398 104,202 4 98,389 8,706 389 107,484 Loans collateralized by securities 2023 / 2022 291 460 0 751 0 562 552 0 1,114 2022 / 2021 321 85 0 406 0 1,496 381 0 1,877 2021 / 2020 1,341 330 0 1,671 0 307 721 0 1,028 2020 / 2019 101 100 0 201 0 35 143 0 178 2019 / 2018 1 150 0 151 0 16 25 0 41 Prior years 730 130 0 860 0 803 188 0 991 Total term loans 2,785 1,255 0 4,040 0 3,219 2,010 0 5,229 Revolving loans 1 25,194 2,278 264 27,736 0 30,023 2,124 263 32,410 Total 27,979 3,533 264 31,776 0 33,242 4,134 263 37,639 Consumer finance 2023 / 2022 1,824 584 1 2,409 19 2,135 1,005 8 3,148 2022 / 2021 1,061 515 16 1,592 0 650 334 15 999 2021 / 2020 500 279 17 796 0 307 200 15 522 2020 / 2019 244 183 15 442 0 120 183 18 321 2019 / 2018 79 134 17 230 0 26 87 15 128 Prior years 26 128 52 206 12 14 80 44 138 Total term loans 3,734 1,823 118 5,675 31 3,252 1,889 115 5,256 Revolving loans 88 24 76 188 0 318 42 69 429 Total 3,822 1,847 194 5,863 31 3,570 1,931 184 5,685 Consumer – total 2023 / 2022 7,233 1,438 17 8,688 19 15,198 3,097 16 18,311 2022 / 2021 13,296 1,994 27 15,317 0 23,773 2,111 60 25,944 2021 / 2020 21,306 1,776 73 23,155 0 13,483 2,032 34 15,549 2020 / 2019 12,518 1,279 91 13,888 0 10,184 1,597 85 11,866 2019 / 2018 9,619 1,493 82 11,194 0 6,651 762 51 7,464 Prior years 38,374 2,168 220 40,762 16 35,342 2,199 254 37,795 Total term loans 102,346 10,148 510 113,004 35 104,631 11,798 500 116,929 Revolving loans 25,469 3,022 346 28,837 0 30,570 2,973 336 33,879 Total 127,815 13,170 856 141,841 35 135,201 14,771 836 150,808 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2023 / 2022 1,481 1,358 31 2,870 0 3,601 2,499 5 6,105 2022 / 2021 2,538 1,405 123 4,066 0 7,001 2,441 0 9,442 2021 / 2020 5,422 1,920 0 7,342 0 3,071 855 4 3,930 2020 / 2019 2,726 873 5 3,604 0 959 297 56 1,312 2019 / 2018 909 263 41 1,213 0 698 219 1 918 Prior years 2,522 384 24 2,930 0 2,109 217 24 2,350 Total term loans 15,598 6,203 224 22,025 0 17,439 6,528 90 24,057 Revolving loans 502 309 148 959 0 694 281 125 1,100 Total 16,100 6,512 372 22,984 0 18,133 6,809 215 25,157 Commercial and industrial loans 2023 / 2022 5,766 7,253 144 13,163 5 7,858 11,181 263 19,302 2022 / 2021 3,208 5,198 117 8,523 12 3,576 4,204 212 7,992 2021 / 2020 2,791 3,359 90 6,240 19 1,810 2,251 178 4,239 2020 / 2019 1,604 1,674 166 3,444 0 1,566 2,359 130 4,055 2019 / 2018 1,203 1,901 36 3,140 0 742 1,343 161 2,246 Prior years 2,360 2,781 262 5,403 2 1,619 2,355 204 4,178 Total term loans 16,932 22,166 815 39,913 38 17,171 23,693 1,148 42,012 Revolving loans 9,408 6,208 287 15,903 5 10,277 6,799 278 17,354 Total 26,340 28,374 1,102 55,816 43 27,448 30,492 1,426 59,366 Financial institutions 2023 / 2022 5,964 681 41 6,686 0 4,480 1,026 90 5,596 2022 / 2021 1,078 597 2 1,677 0 2,850 856 0 3,706 2021 / 2020 1,976 397 0 2,373 0 1,034 67 0 1,101 2020 / 2019 968 43 0 1,011 0 602 7 0 609 2019 / 2018 340 4 0 344 0 521 2 1 524 Prior years 1,166 40 1 1,207 0 (940) 71 1 (868) Total term loans 11,492 1,762 44 13,298 0 8,547 2,029 92 10,668 Revolving loans 10,907 810 96 11,813 1 10,111 822 110 11,043 Total 22,399 2,572 140 25,111 1 18,658 2,851 202 21,711 Governments and public institutions 2023 / 2022 62 20 0 82 0 147 22 0 169 2022 / 2021 442 4 0 446 0 458 35 0 493 2021 / 2020 101 31 0 132 0 126 40 0 166 2020 / 2019 124 33 0 157 0 97 1 10 108 2019 / 2018 96 1 11 108 0 55 0 0 55 Prior years 182 9 1 192 0 171 15 1 187 Total term loans 1,007 98 12 1,117 0 1,054 113 11 1,178 Revolving loans 10 1 0 11 0 9 0 0 9 Total 1,017 99 12 1,128 0 1,063 113 11 1,187 Corporate & institutional – total 2023 / 2022 13,273 9,312 216 22,801 5 16,086 14,728 358 31,172 2022 / 2021 7,266 7,204 242 14,712 12 13,885 7,536 212 21,633 2021 / 2020 10,290 5,707 90 16,087 19 6,041 3,213 182 9,436 2020 / 2019 5,422 2,623 171 8,216 0 3,224 2,664 196 6,084 2019 / 2018 2,548 2,169 88 4,805 0 2,016 1,564 163 3,743 Prior years 6,230 3,214 288 9,732 2 2,959 2,658 230 5,847 Total term loans 45,029 30,229 1,095 76,353 38 44,211 32,363 1,341 77,915 Revolving loans 20,827 7,328 531 28,686 6 21,091 7,902 513 29,506 Total 65,856 37,557 1,626 105,039 44 65,302 40,265 1,854 107,421 Total loans held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2023 / 2022 20,506 10,750 233 31,489 24 31,284 17,825 374 49,483 2022 / 2021 20,562 9,198 269 30,029 12 37,658 9,647 272 47,577 2021 / 2020 31,596 7,483 163 39,242 19 19,524 5,245 216 24,985 2020 / 2019 17,940 3,902 262 22,104 0 13,408 4,261 281 17,950 2019 / 2018 12,167 3,662 170 15,999 0 8,667 2,326 214 11,207 Prior years 44,604 5,382 508 50,494 18 38,301 4,857 484 43,642 Total term loans 147,375 40,377 1,605 189,357 73 148,842 44,161 1,841 194,844 Revolving loans 46,296 10,350 877 57,523 6 51,661 10,875 849 63,385 Total loans to third parties 193,671 50,727 2,482 246,880 79 200,503 55,036 2,690 258,229 Total loans to entities under common control 1,426 33 0 1,459 0 3,920 30 0 3,950 Total 195,097 50,760 2,482 248,339 1 79 204,423 55,066 2,690 262,179 1 1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating 6M23 2022 Gross end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2023 / 2022 0 0 0 0 0 0 0 0 0 2022 / 2021 0 9 0 9 0 0 7 0 7 2021 / 2020 0 0 0 0 0 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 0 47 0 47 Prior years 0 29 0 29 0 0 0 0 0 Total term positions 0 38 0 38 0 0 54 0 54 Revolving positions 0 1,417 0 1,417 0 0 1,711 0 1,711 Total 0 1,455 0 1,455 0 0 1,765 0 1,765 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M23 6M22 Amortized Amortized CHF million Mortgages 383 396 5 64 572 503 1 74 Loans collateralized by securities 283 285 0 2 262 238 2 2 Consumer finance 188 197 1 0 205 200 1 1 Consumer 854 878 6 66 1,039 941 4 77 Real estate 127 334 6 1 167 143 0 0 Commercial and industrial loans 801 551 10 12 686 696 6 57 Financial institutions 159 138 13 0 41 192 0 3 Governments and public institutions 11 11 1 2 19 11 0 2 Corporate & institutional 1,098 1,034 30 15 913 1,042 6 62 Total loans held at amortized cost 1,952 1,912 36 81 1,952 1,983 10 139 |
Past Due Financing Receivables [Table Text Block] | Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M23 (CHF million) Mortgages 103,687 143 85 16 271 515 104,202 Loans collateralized by securities 31,483 4 1 4 284 293 31,776 Consumer finance 5,403 232 14 56 158 460 5,863 Consumer 140,573 379 100 76 713 1,268 141,841 Real estate 22,679 31 101 0 173 305 22,984 Commercial and industrial loans 54,743 424 235 40 374 1,073 55,816 Financial institutions 24,729 121 31 93 137 382 25,111 Governments and public institutions 1,113 3 1 0 11 15 1,128 Corporate & institutional 103,264 579 368 133 695 1,775 105,039 Total loans to third parties 243,837 958 468 209 1,408 3,043 246,880 Total loans to entities under common control 1,459 0 0 0 0 0 1,459 Total loans held at amortized cost 245,296 958 468 209 1,408 3,043 248,339 1 2022 (CHF million) Mortgages 107,033 66 43 8 334 451 107,484 Loans collateralized by securities 37,308 43 4 3 281 331 37,639 Consumer finance 5,147 248 82 63 145 538 5,685 Consumer 149,488 357 129 74 760 1,320 150,808 Real estate 24,946 35 49 0 127 211 25,157 Commercial and industrial loans 58,267 320 42 24 713 1,099 59,366 Financial institutions 21,480 72 0 0 159 231 21,711 Governments and public institutions 1,171 5 0 0 11 16 1,187 Corporate & institutional 105,864 432 91 24 1,010 1,557 107,421 Total loans to third parties 255,352 789 220 98 1,770 2,877 258,229 Total loans to entities under common control 3,950 0 0 0 0 0 3,950 Total loans held at amortized cost 259,302 789 220 98 1,770 2,877 262,179 1 1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively. |
Restructured financing receivables held at amortized cost | Loan modifications by type 6M23 In percent Principal forgiveness (PF) Mortgages 0.6 0.00 Commercial and industrial loans 0.4 0.00 Total 1.0 – Interest rate reduction (IRR) Mortgages 3.6 0.00 Loans collateralized by securities 4.7 0.01 Consumer finance 0.0 0.00 Real estate 1.2 0.01 Commercial and industrial loans 14.7 0.03 Total 24.2 – Term extension (TE) Mortgages 45.7 0.04 Real estate 63.9 0.28 Commercial and industrial loans 103.5 0.19 Financial institutions 1.2 0.00 Total 214.3 – Other than insignificant payment delay (OtIPD) Commercial and industrial loans 14.4 0.03 Combination of IRR and TE Commercial and industrial loans 9.7 0.02 Combination of TE and OtIPD Commercial and industrial loans 37.6 0.07 Total loan modifications Mortgages 49.9 0.05 Loans collateralized by securities 4.7 0.01 Real estate 65.1 0.28 Commercial and industrial loans 180.3 0.32 Financial institutions 1.2 0.00 Total 301.2 0.12 PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay. |
Troubled Debt Restructurings on Financing Receivables Effect [Table Text Block] | Loan modifications – modification effects in 6M23 Principal forgiveness (PF) (CHF million) Mortgages 11.7 Commercial and industrial loans 7.2 Total 18.9 Interest rate reduction (IRR) (WAIRR in %) Mortgages 1.28 Loans collateralized by securities 1.98 Consumer finance 2.71 Real estate 1.50 Commercial and industrial loans 1.84 Total 1.76 Term extension (TE) (WATE in years) Mortgages 0.09 Real estate 1.25 Commercial and industrial loans 1.10 Financial institutions 0.58 Total 0.93 Other than insignificant payment delay (OtIPD) (CHF million) Commercial and industrial loans 3.3 Combination of IRR and TE Commercial and industrial loans Interest rate reduction (%) 0.10 Term extension (Years) 0.87 Combination of TE and OtIPD Commercial and industrial loans Term extension (Years) 2.72 Payment delay (CHF million) 22.0 PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay; WAIRR = Weighted average interest rate reduction; WATE = Weighted average term extension. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 6M22 Recorded Recorded CHF million, except where indicated Real estate 1 102 82 Commercial and industrial loans 11 197 175 Total loans 12 299 257 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Goodwill | Wealth Swiss Asset Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,281 481 1,106 4,878 7,758 Foreign currency translation impact (10) (9) (31) 0 (50) Other 0 0 (30) 30 0 Balance at end of period 1,271 472 1,045 4,908 7,708 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 4,878 4,890 Impairment losses 1,271 2 0 1,045 2 30 2,346 Balance at end of period 1,271 0 1,045 4,908 7,236 Net book value (CHF million) Net book value 0 472 0 0 472 Segments are shown net of adjustments regarding certain consolidating entities, including those relating to entities that are managed but are not owned or fully owned by Credit Suisse. 1 Gross amount of goodwill and accumulated impairment included CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. 2 Includes adjustments regarding certain consolidating entities of CHF 23 million for Wealth Management and CHF 6 million for Asset Management. |
Other assets and other liabil_2
Other assets and other liabilities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other assets and other liabilities | end of 6M23 2022 Other assets (CHF million) Cash collateral on derivative instruments 5,917 7,723 Cash collateral on non-derivative transactions 505 647 Derivative instruments used for hedging 1 59 0 Assets held-for-sale 8,249 16,112 of which loans 2 8,222 16,090 allowance for loans held-for-sale (269) (101) of which real estate 3 26 22 of which long-lived assets 1 0 Premises and equipment, net and right-of-use assets 3,684 5,799 Assets held for separate accounts 62 64 Interest and fees receivable 2,379 2,609 Deferred tax assets 83 259 Prepaid expenses 863 812 of which cloud computing arrangement implementation costs 27 65 Failed purchases 569 801 Defined benefit pension and post-retirement plan assets 538 560 Other 4,996 6,367 of which digital asset safeguarding assets 118 102 Other assets 27,904 41,753 Other liabilities (CHF million) Cash collateral on derivative instruments 1,046 2,079 Cash collateral on non-derivative transactions 332 431 Derivative instruments used for hedging 1 16 154 Operating leases liabilities 1,603 1,749 Provisions 2,727 1,494 of which expected credit losses on off-balance sheet credit exposures 207 217 Restructuring liabilities 51 114 Liabilities held for separate accounts 62 64 Interest and fees payable 3,867 3,779 Current tax liabilities 517 524 Deferred tax liabilities 178 670 Failed sales 864 1,471 Defined benefit pension and post-retirement plan liabilities 255 258 Other 3,790 4,039 of which digital asset safeguarding liabilities 118 102 Other liabilities 15,308 16,826 1 Amounts shown after counterparty and cash collateral netting. 2 Included as of the end of 6M23 and 2022 were CHF 272 million and CHF 458 million, respectively, in restricted loans, which represented collateral on secured borrowings. 3 As of the end of 6M23 and 2022, real estate held-for-sale included foreclosed or repossessed real estate of CHF 26 million and CHF 21 million, respectively, of which CHF 26 million and CHF 21 million, respectively, were related to residential real estate. |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated other comprehensive income | Unrealized 1 Gains/ 6M23 (CHF million) Balance at beginning of period (1,317) (17,020) (13) (582) (9) 3,874 (15,067) Increase/(decrease) 289 (1,072) 1 (47) 0 3,746 2,917 Reclassification adjustments, included in net income/(loss) (82) 59 0 3 1 (7,731) 2 (7,750) Total increase/(decrease) 207 (1,013) 1 (44) 1 (3,985) (4,833) Balance at end of period (1,110) (18,033) (12) (626) (8) (111) (19,900) 6M22 (CHF million) Balance at beginning of period (95) (16,760) 13 (429) (6) (2,082) (19,359) Increase/(decrease) (727) 934 (6) 0 (1) 3,516 3,716 Reclassification adjustments, included in net income/(loss) (121) 0 0 4 1 17 (99) Total increase/(decrease) (848) 934 (6) 4 0 3,533 3,617 Balance at end of period (943) (15,826) 7 (425) (6) 1,451 (15,742) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M23 and 6M22. 2 Included the impact of the additional tier 1 capital notes write-down of CHF 9,048 million and the related tax impact of CHF 1,440 million which represented non-cash transactions. |
Details on significant reclassification adjustments | Details of significant reclassification adjustments in 6M23 6M22 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 1 59 0 Gains/(losses) on cash flow hedges Gross gains/(losses) 2 (94) (156) Tax expense/(benefit) 12 35 Net of tax (82) (121) Actuarial gains/(losses) Amortization of recognized actuarial losses 3 (6) 5 Tax expense/(benefit) 9 (1) Net of tax 3 4 Gains/(losses) on liabilities relating to credit risk Reclassification adjustments 1 (9,171) 17 Tax expense/(benefit) 1,440 0 Net of tax (7,731) 17 1 Included in other revenues. 2 Included in interest and dividend income as well as operating expenses. Refer to "Note 20 - Derivatives and hedging activities" for further information. 3 These components are included in the computation of total benefit costs. Refer to "Note 19 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Offsetting of derivatives | Offsetting of derivatives 6M23 2022 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.8 8.0 8.6 9.8 OTC 19.5 18.9 25.1 23.5 Interest rate products 26.3 26.9 33.7 33.3 OTC-cleared 0.2 0.2 0.3 0.3 OTC 15.5 16.4 24.9 25.5 Exchange-traded 0.0 0.0 0.0 0.1 Foreign exchange products 15.7 16.6 25.2 25.9 OTC-cleared 0.1 0.1 0.0 0.0 OTC 4.6 7.4 4.3 7.1 Exchange-traded 16.2 15.3 18.6 18.3 Equity/index-related products 20.9 22.8 22.9 25.4 OTC-cleared 0.3 0.3 0.6 0.6 OTC 1.8 2.3 2.4 2.6 Credit derivatives 2.1 2.6 3.0 3.2 OTC-cleared 0.0 0.0 0.1 0.1 OTC 0.7 0.2 0.9 0.4 Exchange-traded 0.1 0.0 0.0 0.0 Other products 1 0.8 0.2 1.0 0.5 OTC-cleared 7.4 8.6 9.6 10.8 OTC 42.1 45.2 57.6 59.1 Exchange-traded 16.3 15.3 18.6 18.4 Total gross derivatives subject to enforceable master netting agreements 65.8 69.1 85.8 88.3 Offsetting (CHF billion) OTC-cleared (7.4) (8.6) (9.5) (10.7) OTC (37.5) (40.4) (50.5) (52.9) Exchange-traded (15.5) (15.3) (18.0) (18.2) Offsetting (60.4) (64.3) (78.0) (81.8) of which counterparty netting (52.9) (52.9) (68.3) (68.3) of which cash collateral netting (7.5) (11.4) 2 (9.7) (13.5) 2 Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.0 0.1 0.1 OTC 4.6 4.8 7.1 6.2 Exchange-traded 0.8 0.0 0.6 0.2 Total net derivatives subject to enforceable master netting agreements 5.4 4.8 7.8 6.5 Total derivatives not subject to enforceable master netting agreements 3 2.3 1.9 3.3 2.6 Total net derivatives presented in the consolidated balance sheets 7.7 6.7 11.1 9.1 of which recorded in trading assets and trading liabilities 7.6 6.7 11.1 8.9 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.2 1 Primarily precious metals, commodity and energy products. 2 Includes CHF 9,813 million and CHF 11,924 million as of the end of 6M23 and 2022, respectively, related to trading derivatives. 3 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M23 2022 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 36.9 (5.5) 31.4 47.9 (10.7) 37.2 Securities borrowing transactions 3.0 0.0 3.0 4.5 0.0 4.5 Total subject to enforceable master netting agreements 39.9 (5.5) 34.4 52.4 (10.7) 41.7 Total not subject to enforceable master netting agreements 1 18.4 – 18.4 17.1 – 17.1 Total 58.3 (5.5) 52.8 2 69.5 (10.7) 58.8 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 31,683 million and CHF 40,793 million of the total net amount as of the end of 6M23 and 2022, respectively, were reported at fair value. |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Offsetting of securities sold under repurchase agreements and securities lending transactions 6M23 2022 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 7.1 (5.5) 1.6 27.8 (10.7) 17.1 Securities lending transactions 0.1 0.0 0.1 0.9 0.0 0.9 Obligation to return securities received as collateral, at fair value 2.2 0.0 2.2 2.9 0.0 2.9 Total subject to enforceable master netting agreements 9.4 (5.5) 3.9 31.6 (10.7) 20.9 Total not subject to enforceable master netting agreements 1 1.2 – 1.2 2.5 – 2.5 Total 10.6 (5.5) 5.1 34.1 (10.7) 23.4 of which securities sold under repurchase agreements and securities lending transactions 8.4 (5.5) 2.9 2 31.1 (10.7) 20.4 2 of which obligation to return securities received as collateral, at fair value 2.2 0.0 2.2 3.0 0.0 3.0 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 1,330 million and CHF 14,133 million of the total net amount as of the end of 6M23 and 2022, respectively, were reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 6M23 2022 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 5.4 2.1 0.0 3.3 7.8 3.2 0.0 4.6 Securities purchased under resale agreements 31.4 31.4 0.0 0.0 37.2 37.1 0.1 0.0 Securities borrowing transactions 3.0 2.9 0.0 0.1 4.5 4.3 0.0 0.2 Total financial assets subject to enforceable master netting agreements 39.8 36.4 0.0 3.4 49.5 44.6 0.1 4.8 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 4.8 1.0 0.0 3.8 6.5 1.2 0.0 5.3 Securities sold under repurchase agreements 1.6 1.6 0.0 0.0 17.1 17.1 0.0 0.0 Securities lending transactions 0.1 0.1 0.0 0.0 0.9 0.8 0.0 0.1 Obligation to return securities received as collateral, at fair value 2.2 2.0 0.0 0.2 2.9 2.7 0.0 0.2 Total financial liabilities subject to enforceable master netting agreements 8.7 4.7 0.0 4.0 27.4 21.8 0.0 5.6 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Tax (Tables)
Tax (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Net deferred tax assets | Net deferred tax assets/(liabilities) end of 6M23 2022 Net deferred tax assets (CHF million) Deferred tax assets 83 259 of which net operating losses 12 138 of which deductible temporary differences 71 121 Deferred tax liabilities (178) (670) Net deferred tax assets/(liabilities) (95) (411) |
Pension and other post-retire_2
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Components of total pension costs | Components of net periodic benefit costs in 6M23 6M22 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 6 8 Interest costs on benefit obligation 48 30 Expected return on plan assets (66) (33) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses (6) 5 Net periodic benefit costs/(credits) (17) 11 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activ_2
Derivatives and hedging activities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair value of derivative instruments | Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 2,196.6 0.1 0.1 0.0 0.0 0.0 Swaps 7,405.9 19.9 18.8 129.8 0.1 1.7 Options bought and sold (OTC) 554.2 6.4 6.7 0.0 0.0 0.0 Futures 142.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.8 0.0 0.0 0.0 0.0 0.0 Interest rate products 10,299.6 26.4 25.6 129.8 0.1 1.7 Forwards 389.3 3.9 4.0 27.5 0.1 0.0 Swaps 318.3 10.0 10.8 0.0 0.0 0.0 Options bought and sold (OTC) 105.0 2.0 2.0 0.0 0.0 0.0 Futures 3.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 817.3 15.9 16.8 27.5 0.1 0.0 Forwards 0.1 0.0 0.0 0.0 0.0 0.0 Swaps 17.6 0.9 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 145.5 5.4 7.9 0.0 0.0 0.0 Futures 13.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.7 16.3 15.4 0.0 0.0 0.0 Equity/index-related products 550.5 22.6 23.7 0.0 0.0 0.0 Credit derivatives 2 260.7 2.1 2.7 0.0 0.0 0.0 Forwards 5.0 0.1 0.1 0.0 0.0 0.0 Swaps 6.7 0.6 0.3 0.0 0.0 0.0 Options bought and sold (OTC) 7.0 0.1 0.1 0.0 0.0 0.0 Futures 3.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.9 0.1 0.0 0.0 0.0 0.0 Other products 3 24.7 0.9 0.5 0.0 0.0 0.0 Total derivative instruments 11,952.8 67.9 69.3 157.3 0.2 1.7 The notional amount, PRV and NRV (trading and hedging) was CHF 12,110.1 billion, CHF 68.1 billion and CHF 71.0 billion, respectively, as of June 30, 2023. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 2,088.2 1.7 1.7 0.0 0.0 0.0 Swaps 9,140.3 24.3 21.7 130.1 0.1 1.8 Options bought and sold (OTC) 644.4 8.2 8.6 0.0 0.0 0.0 Futures 144.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 35.9 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,053.7 34.2 32.0 130.1 0.1 1.8 Forwards 701.4 8.7 10.0 17.7 0.1 0.2 Swaps 353.5 14.3 13.5 0.0 0.0 0.0 Options bought and sold (OTC) 167.5 2.5 2.7 0.0 0.0 0.0 Futures 4.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.8 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,229.3 25.5 26.2 17.7 0.1 0.2 Forwards 0.3 0.0 0.0 0.0 0.0 0.0 Swaps 22.8 0.9 0.7 0.0 0.0 0.0 Options bought and sold (OTC) 181.4 5.2 7.5 0.0 0.0 0.0 Futures 42.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 469.3 18.9 18.5 0.0 0.0 0.0 Equity/index-related products 715.8 25.0 26.7 0.0 0.0 0.0 Credit derivatives 2 352.0 3.2 3.4 0.0 0.0 0.0 Forwards 6.9 0.1 0.1 0.0 0.0 0.0 Swaps 9.5 0.7 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 8.8 0.1 0.1 0.0 0.0 0.0 Futures 12.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.7 0.1 0.0 0.0 0.0 0.0 Other products 3 40.5 1.0 0.6 0.0 0.0 0.0 Total derivative instruments 14,391.3 88.9 88.9 147.8 0.2 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 14,539.1 billion, CHF 89.1 billion and CHF 90.9 billion, respectively, as of December 31, 2022. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or (losses) on fair value hedges in 6M23 6M22 Interest rate products (CHF million) Hedged items 1 392 2,508 Derivatives designated as hedging instruments 1 (400) (2,370) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M23 2022 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.9 (0.1) 0.0 0.8 (0.1) 0.0 Net loans 35.7 (0.1) (1.8) 29.0 (1.3) (0.7) Liabilities (CHF billion) Long-term debt 68.4 (0.5) (4.5) 72.0 (1.0) (4.4) 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 6M23 6M22 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 342 (821) Gains/(losses) reclassified from AOCI into interest and dividend income 104 177 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 17 (50) Total other operating expenses (10) (22) Gains/(losses) reclassified from AOCI into income (10) (22) |
Net investment hedges | Net investment hedges in 6M23 6M22 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (81) (57) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 4 0 |
Credit protection sold/purchased | Credit protection sold/purchased 6M23 2022 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (37.7) 34.2 (3.5) 6.7 0.1 (52.8) 48.6 (4.2) 10.6 0.2 Non-investment grade (14.5) 12.6 (1.9) 3.4 (0.1) (22.3) 20.7 (1.6) 4.9 (0.2) Total single-name instruments (52.2) 46.8 (5.4) 10.1 0.0 (75.1) 69.3 (5.8) 15.5 0.0 of which sovereign (11.8) 10.3 (1.5) 3.0 (0.1) (12.8) 11.3 (1.5) 4.4 (0.1) of which non-sovereign (40.4) 36.5 (3.9) 7.1 0.1 (62.3) 58.0 (4.3) 11.1 0.1 Multi-name instruments (CHF billion) Investment grade 2 (54.0) 51.9 (2.1) 3.2 0.2 (54.3) 50.8 (3.5) 8.9 0.1 Non-investment grade (18.0) 16.9 (1.1) 3.5 3 (0.5) (30.9) 28.4 (2.5) 9.5 3 (0.6) Total multi-name instruments (72.0) 68.8 (3.2) 6.7 (0.3) (85.2) 79.2 (6.0) 18.4 (0.5) of which non-sovereign (72.0) 68.8 (3.2) 6.7 (0.3) (85.2) 79.2 (6.0) 18.4 (0.5) Total instruments (CHF billion) Investment grade 2 (91.7) 86.1 (5.6) 9.9 0.3 (107.1) 99.4 (7.7) 19.5 0.3 Non-investment grade (32.5) 29.5 (3.0) 6.9 (0.6) (53.2) 49.1 (4.1) 14.4 (0.8) Total instruments (124.2) 115.6 (8.6) 16.8 (0.3) (160.3) 148.5 (11.8) 33.9 (0.5) of which sovereign (11.8) 10.3 (1.5) 3.0 (0.1) (12.8) 11.3 (1.5) 4.4 (0.1) of which non-sovereign (112.4) 105.3 (7.1) 13.8 (0.2) (147.5) 137.2 (10.3) 29.5 (0.4) 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. |
Contingent credit risk | Contingent credit risk 6M23 2022 Special Special Contingent credit risk (CHF billion) Current net exposure 1.1 0.1 0.0 1.2 1.2 0.1 0.1 1.4 Collateral posted 0.9 0.1 – 1.0 1.0 0.1 – 1.1 Impact of a one-notch downgrade event 0.3 0.0 0.0 0.3 0.4 0.0 0.1 0.5 Impact of a two-notch downgrade event 0.4 0.0 0.0 0.4 0.5 0.1 0.2 0.8 Impact of a three-notch downgrade event 0.5 0.1 0.0 0.6 0.5 0.1 0.2 0.8 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 6M23 2022 Credit derivatives (CHF billion) Credit protection sold 124.2 160.3 Credit protection purchased 115.6 148.5 Other protection purchased 16.8 33.9 Other instruments 1 4.1 9.3 Total credit derivatives 260.7 352.0 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M23 (CHF billion) Single-name instruments 10.3 39.4 2.5 52.2 Multi-name instruments 5.6 60.5 5.9 72.0 Total instruments 15.9 99.9 8.4 124.2 2022 (CHF billion) Single-name instruments 10.0 61.8 3.3 75.1 Multi-name instruments 6.5 71.5 7.2 85.2 Total instruments 16.5 133.3 10.5 160.3 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Guarantees | Maturity Maturity 1 6M23 (CHF million) Credit guarantees and similar instruments 1,558 990 2,548 2,490 18 1,636 Performance guarantees and similar instruments 3,489 2,310 5,799 5,155 39 2,843 Derivatives 2 1,966 2,061 4,027 4,027 59 – Other guarantees 3,697 2,141 5,838 5,837 60 2,628 Total guarantees 10,710 7,502 18,212 17,509 176 7,107 2022 (CHF million) Credit guarantees and similar instruments 2,261 1,049 3,310 3,197 22 2,068 Performance guarantees and similar instruments 4,280 2,992 7,272 6,527 61 3,778 Derivatives 2 2,646 2,596 5,242 5,242 101 – Other guarantees 4,455 2,213 6,668 6,668 56 3,292 Total guarantees 13,642 8,850 22,492 21,634 240 9,138 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. |
Other commitments | Other commitments 6M23 2022 Maturity Maturity 1 Maturity Maturity Other commitments (CHF million) Irrevocable commitments under documentary credits 2,910 26 2,936 2,852 3,378 42 3,420 3,233 Irrevocable loan commitments 12,982 69,115 82,097 2 78,441 19,272 92,857 112,129 2 108,118 Forward reverse repurchase agreements 2,686 0 2,686 2,686 1,021 0 1,021 1,021 Other commitments 181 239 420 420 212 286 498 498 Total other commitments 18,759 69,380 88,139 84,399 23,883 93,185 117,068 112,870 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 112,275 million and CHF 129,224 million of unused credit limits as of the end of 6M23 and 2022, respectively, which were revocable at the Bank's sole discretion upon notice to the client. |
Transfers of financial assets_2
Transfers of financial assets and variable interest entities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Securitizations | Securitizations and asset-backed financings in 6M23 6M22 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 5 Proceeds from transfer of assets 2 0 2,819 Cash received on interests that continue to be held 13 22 RMBS Net gain/(loss) 1 0 (1) Proceeds from transfer of assets 3 0 6,799 Servicing fees 7 0 Cash received on interests that continue to be held 29 531 Other asset-backed financings Net gain 1 7 23 Proceeds from transfer of assets 4 6,677 3,808 Purchases of previously transferred financial assets or its underlying collateral (177) (997) Fees 5 98 97 Cash received on interests that continue to be held 121 36 1 Includes primarily underwriting revenues, deferred origination fees and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. 2 Included the receipt of non-cash beneficial interests (including risk retention securities) of CHF 0 and CHF 272 million in 6M23 6M22 3 Included the receipt of non-cash beneficial interests (including risk retention securities) of CHF 0 and CHF 635 million in 6M23 6M22 4 Includes the receipt of non-cash beneficial interests (including risk retention securities) and seller financing of CHF 4,251 and CHF 65 million in 6M23 6M22 5 Represents primarily management fees and performance fees earned for investment management services provided to managed CLOs. |
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | Principal amounts outstanding resulting from continuing involvement end of 6M23 2022 CHF million CMBS 5,170 17,193 RMBS 23,869 41,552 Other asset-backed financings 22,895 21,939 Principal amount outstanding relates to assets transferred from the Bank and does not include principal amounts for assets transferred from third parties. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M23 2022 CHF million Other asset-backed financings Trading assets 22 366 Other assets 209 154 Liability to SPEs, included in other liabilities (231) (520) |
Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M23 2022 CHF billion Government debt securities 6.2 17.1 Corporate debt securities 2.0 6.9 Asset-backed securities 0.0 0.9 Equity securities 0.1 0.2 Other 0.0 5.1 Securities sold under repurchase agreements 8.3 30.2 Government debt securities 0.0 0.2 Corporate debt securities 0.0 0.3 Asset-backed securities 0.0 0.2 Equity securities 0.1 0.1 Other 0.0 0.1 Securities lending transactions 0.1 0.9 Government debt securities 1.0 1.2 Corporate debt securities 0.1 0.4 Asset-backed securities 0.0 0.1 Equity securities 1.1 1.3 Other 0.0 0.0 Obligation to return securities received as collateral, at fair value 2.2 3.0 Total 10.6 34.1 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated Up to 1 31-90 More than 6M23 (CHF billion) Securities sold under repurchase agreements 0.7 5.6 1.2 0.8 8.3 Securities lending transactions 0.1 0.0 0.0 0.0 0.1 Obligation to return securities received as collateral, at fair value 2.2 0.0 0.0 0.0 2.2 Total 3.0 5.6 1.2 0.8 10.6 2022 (CHF billion) Securities sold under repurchase agreements 4.1 12.8 5.9 7.4 30.2 Securities lending transactions 0.5 0.2 0.0 0.2 0.9 Obligation to return securities received as collateral, at fair value 3.0 0.0 0.0 0.0 3.0 Total 7.6 13.0 5.9 7.6 34.1 1 Includes overnight transactions. |
Consolidated VIEs in which the Group was primary beneficiary | Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M23 (CHF million) Cash and due from banks 0 326 75 9 28 16 454 Trading assets 0 0 885 20 436 1 1,342 Other investments 0 0 0 52 510 132 694 Net loans 0 1,499 0 0 15 0 1,514 Other assets 0 8 1,143 34 58 411 1,654 of which loans held-for-sale 0 8 83 20 0 0 111 of which premises and equipment 0 0 0 0 0 0 0 Total assets of consolidated VIEs 0 1,833 2,103 115 1,047 560 5,658 Trading liabilities 0 7 0 0 5 1 13 Short-term borrowings 0 31 0 11 0 1 43 Long-term debt 0 0 1,566 0 0 43 1,609 Other liabilities 0 32 3 16 44 1,026 1,121 Total liabilities of consolidated VIEs 0 70 1,569 27 49 1,071 2,785 2022 (CHF million) Cash and due from banks 15 94 68 17 24 11 229 Trading assets 0 954 1,154 23 457 0 2,588 Other investments 0 0 0 58 587 136 781 Net loans 0 3,260 0 0 16 134 3,410 Other assets 281 2,466 1,349 39 42 417 4,594 of which loans held-for-sale 279 2,445 119 21 0 0 2,864 Total assets of consolidated VIEs 296 6,774 2,571 137 1,126 698 11,602 Trading liabilities 0 1,057 0 0 6 0 1,063 Short-term borrowings 0 3,124 0 13 0 0 3,137 Long-term debt 84 0 1,860 0 0 152 2,096 Other liabilities 0 49 2 19 49 70 189 Total liabilities of consolidated VIEs 84 4,230 1,862 32 55 222 6,485 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M23 (CHF million) Trading assets 227 0 2,126 583 7 1,636 4,579 Net loans 138 66 3,152 1,983 10,142 1,531 17,012 Other assets 9 0 0 119 77 702 907 Total variable interest assets 374 66 5,278 2,685 10,226 3,869 22,498 Maximum exposure to loss 377 133 6,554 2,685 13,603 4,140 27,492 Total assets of non-consolidated VIEs 8,640 274 42,842 161,867 36,439 11,034 261,096 2022 (CHF million) Trading assets 214 0 3,877 750 7 1,816 6,664 Net loans 314 1,440 2,521 1,934 7,617 2,201 16,027 Other assets 6 0 3 122 4 884 1,019 Total variable interest assets 534 1,440 6,401 2,806 7,628 4,901 23,710 Maximum exposure to loss 547 4,374 9,514 2,806 9,999 5,490 32,730 Total assets of non-consolidated VIEs 9,713 7,297 79,322 115,900 38,632 14,620 265,484 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 127 0 – – 127 Interest-bearing deposits with banks 0 16 0 – – 16 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 31,683 0 – – 31,683 Securities received as collateral 1,852 368 0 – – 2,220 Trading assets 21,567 72,949 2,712 (60,268) 278 37,238 of which debt securities 9,264 9,326 802 – 60 19,452 of which foreign governments 7,615 5,533 48 – – 13,196 of which corporates 1,572 1,956 504 – 32 4,064 of which RMBS 0 1,069 87 – – 1,156 of which CDO 13 581 159 – – 753 of which equity securities 6,413 651 153 – 218 7,435 of which derivatives 4,663 61,962 1,195 (60,268) – 7,552 of which interest rate products 16 26,333 47 – – – of which foreign exchange products 26 15,824 25 – – – of which equity/index-related products 4,615 17,458 488 – – – of which credit derivatives 0 1,989 140 – – – of which other derivatives 0 190 495 – – – of which other trading assets 1,227 1,010 562 – – 2,799 Investment securities 0 854 0 – – 854 Other investments 0 15 1,942 – 448 2,405 of which other equity investments 0 15 1,428 – 336 1,779 of which life finance instruments 0 0 510 – – 510 Loans 0 3,741 815 – – 4,556 of which commercial and industrial loans 0 1,928 219 – – 2,147 of which financial institutions 0 810 287 – – 1,097 of which government and public institutions 0 910 219 – – 1,129 Other intangible assets (mortgage servicing rights) 0 0 337 – – 337 Other assets 66 4,620 907 (146) – 5,447 of which failed purchases 50 479 12 – – 541 of which loans held-for-sale 0 3,674 799 – – 4,473 Total assets at fair value 23,485 114,373 6,713 (60,414) 726 84,883 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 101 0 – – 101 Customer deposits 0 1,493 274 – – 1,767 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 1,330 0 – – 1,330 Obligation to return securities received as collateral 1,852 368 0 – – 2,220 Trading liabilities 9,898 63,196 2,461 (62,622) – 12,933 of which short positions 5,048 826 10 – – 5,884 of which debt securities 1,630 643 1 – – 2,274 of which foreign governments 1,540 168 0 – – 1,708 of which corporates 36 472 1 – – 509 of which equity securities 3,418 183 9 – – 3,610 of which derivatives 4,850 62,370 2,132 (62,622) – 6,730 of which interest rate products 12 25,415 161 – – – of which foreign exchange products 27 16,769 1 – – – of which equity/index-related products 4,804 17,541 1,452 – – – of which credit derivatives 0 2,460 239 – – – of which other derivatives 1 39 279 – – – of which other trading liabilities 0 0 319 – – 319 Short-term borrowings 0 4,205 204 – – 4,409 Long-term debt 0 33,716 6,355 – – 40,071 of which structured notes over one year and up to two years 0 6,790 428 – – 7,218 of which structured notes over two years 0 21,332 4,263 – – 25,595 of which other debt instruments over two years 0 2,548 1,564 – – 4,112 Other liabilities 45 3,053 277 (1,743) – 1,632 Total liabilities at fair value 11,795 107,462 9,571 (64,365) – 64,463 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 198 0 – – 198 Interest-bearing deposits with banks 0 14 0 – – 14 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 100 40,693 0 – – 40,793 Securities received as collateral 2,318 660 0 – – 2,978 Trading assets 33,724 105,555 3,828 (77,695) 543 65,955 of which debt securities 13,084 23,288 1,211 – 31 37,614 of which foreign governments 10,117 5,597 86 – – 15,800 of which corporates 2,718 4,998 413 – 31 8,160 of which RMBS 5 10,417 444 – – 10,866 of which CDO 197 941 216 – – 1,354 of which equity securities 11,772 676 222 – 512 13,182 of which derivatives 7,571 79,606 1,661 (77,695) – 11,143 of which interest rate products 1,617 31,900 671 – – – of which foreign exchange products 24 25,512 17 – – – of which equity/index-related products 5,927 18,669 295 – – – of which credit derivatives 0 3,059 130 – – – of which other derivatives 0 197 548 – – – of which other trading assets 1,297 1,985 734 – – 4,016 Investment securities 0 796 0 – – 796 Other investments 0 17 3,313 – 400 3,730 of which other equity investments 0 17 2,725 – 328 3,070 of which life finance instruments 0 0 587 – – 587 Loans 0 6,318 1,040 – – 7,358 of which commercial and industrial loans 0 2,381 300 – – 2,681 of which financial institutions 0 2,591 398 – – 2,989 of which government and public institutions 0 1,112 254 – – 1,366 Other intangible assets (mortgage servicing rights) 0 44 359 – – 403 Other assets 78 8,316 773 (220) – 8,947 of which failed purchases 54 664 12 – – 730 of which loans held-for-sale 0 7,165 648 – – 7,813 Total assets at fair value 36,220 162,611 9,313 (77,915) 943 131,172 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 490 0 – – 490 Customer deposits 0 2,212 252 – – 2,464 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,133 0 – – 14,133 Obligation to return securities received as collateral 2,318 660 0 – – 2,978 Trading liabilities 13,131 83,351 1,881 (80,026) – 18,337 of which short positions 6,556 2,595 16 – – 9,167 of which debt securities 3,228 2,232 1 – – 5,461 of which foreign governments 3,150 272 0 – – 3,422 of which corporates 53 1,957 1 – – 2,011 of which equity securities 3,328 363 15 – – 3,706 of which derivatives 6,575 80,756 1,640 (80,026) – 8,945 of which interest rate products 1,566 30,288 118 – – – of which foreign exchange products 20 26,180 1 – – – of which equity/index-related products 4,981 20,731 1,083 – – – of which credit derivatives 0 3,157 242 – – – of which other derivatives 5 210 196 – – – of which other trading liabilities 0 0 225 – – 225 Short-term borrowings 0 6,330 453 – – 6,783 Long-term debt 0 51,185 6,734 – – 57,919 of which structured notes over one year and up to two years 0 10,697 439 – – 11,136 of which structured notes over two years 0 23,409 4,307 – – 27,716 of which other debt instruments over two years 0 2,961 1,728 – – 4,689 of which high-trigger instruments 0 7,484 28 – – 7,512 Other liabilities 133 3,794 203 (1,844) – 2,286 Total liabilities at fair value 15,582 162,155 9,523 (81,870) – 105,390 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Trading assets 3,828 708 (465) 807 (1,550) 406 (349) 44 (611) 0 2 0 0 (108) 2,712 (251) of which debt securities 1,211 509 (226) 660 (1,283) 0 (21) (12) 0 0 2 0 0 (38) 802 36 of which corporates 413 347 (99) 604 (757) 0 0 (10) 25 0 0 0 0 (19) 504 67 of which RMBS 444 61 (114) 27 (313) 0 (6) 0 (2) 0 0 0 0 (10) 87 9 of which CDO 216 86 (6) 29 (158) 0 (6) 0 (1) 0 2 0 0 (3) 159 (20) of which derivatives 1,661 172 (173) 0 0 406 (293) 25 (558) 0 0 0 0 (45) 1,195 (257) of which interest rate products 671 4 (30) 0 0 33 (48) (1) (553) 0 0 0 0 (29) 47 (396) of which equity/index-related products 295 70 (79) 0 0 233 (74) 19 18 0 0 0 0 6 488 111 of which credit derivatives 130 82 (45) 0 0 28 (55) 4 (1) 0 0 0 0 (3) 140 9 of which other derivatives 548 0 0 0 0 103 (112) 1 (27) 0 0 0 0 (18) 495 21 of which other trading assets 734 10 (63) 135 (164) 0 (35) 3 (37) 0 0 0 0 (21) 562 (12) Other investments 3,313 6 (921) 15 (97) 0 0 0 (234) 0 (73) 0 0 (67) 1,942 (234) of which other equity investments 2,725 3 (921) 3 (33) 0 0 0 (226) 0 (73) 0 0 (50) 1,428 (244) of which life finance instruments 587 0 0 12 (64) 0 0 0 (8) 0 0 0 0 (17) 510 13 Loans 1,040 222 (81) 1 (17) 5 (238) 27 (125) 0 0 0 0 (19) 815 (38) of which commercial and industrial loans 300 164 (81) 0 (15) 5 (75) 25 (106) 0 0 0 0 2 219 (44) of which financial institutions 398 1 0 0 0 0 (95) 1 (6) 0 0 0 0 (12) 287 10 of which government and public institutions 254 41 0 0 (1) 0 (65) 1 (6) 0 0 0 0 (5) 219 3 Other intangible assets (mortgage servicing rights) 359 43 0 0 0 0 0 0 (54) 0 0 0 0 (11) 337 (54) Other assets 773 305 (143) 192 (179) 28 (78) 7 5 0 (2) 0 0 (1) 907 (19) of which loans held-for-sale 648 302 (142) 156 (152) 28 (77) 7 27 0 0 0 0 2 799 (1) Total assets at fair value 9,313 1,284 (1,610) 1,015 (1,843) 439 (665) 78 (1,019) 0 (73) 0 0 (206) 6,713 (596) Liabilities (CHF million) Customer deposits 252 0 0 0 0 309 (38) 0 (210) 0 0 0 (19) (20) 274 (12) Trading liabilities 1,881 401 (378) 75 (47) 417 (392) 69 490 0 0 0 0 (55) 2,461 462 of which derivatives 1,640 400 (377) 0 0 417 (392) 69 421 0 0 0 0 (46) 2,132 409 of which equity/index-related products 1,083 204 (320) 0 0 336 (122) 63 237 0 0 0 0 (29) 1,452 341 of which credit derivatives 242 167 (41) 0 0 17 (194) 4 48 0 0 0 0 (4) 239 29 of which other derivatives 196 (1) 1 0 0 49 (46) (1) 89 0 0 0 0 (8) 279 4 Short-term borrowings 453 129 (112) 0 0 128 (380) 5 (11) 0 0 0 1 (9) 204 (54) Long-term debt 6,734 2,069 (1,971) 0 0 1,552 (2,101) 103 (39) 0 (28) 29 223 (216) 6,355 47 of which structured notes over two years 4,307 1,559 (1,527) 0 0 1,426 (1,812) 97 115 0 0 27 216 (145) 4,263 225 of which other debt instruments over two years 1,728 101 0 0 0 0 (45) 0 (169) 0 0 0 0 (51) 1,564 (191) Other liabilities 203 394 (2) 24 (34) 51 (57) (2) 63 (4) (356) 0 0 (3) 277 21 Total liabilities at fair value 9,523 2,993 (2,463) 99 (81) 2,457 (2,968) 175 293 (4) (384) 29 205 (303) 9,571 464 Net assets/(liabilities) at fair value (210) (1,709) 853 916 (1,762) (2,018) 2,303 (97) (1,312) 4 311 (29) (205) 97 (2,858) (1,060) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M23, changes in net unrealized gains/(losses) of CHF (582) (246) (232) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (118) 0 0 0 (162) 0 (52) 0 0 118 3,574 (99) of which other equity investments 2,863 71 0 37 (5) 0 0 0 (115) 0 (60) 0 0 84 2,875 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) of which government and public institutions 289 95 0 0 0 0 1 (1) (25) 0 0 0 0 12 371 (26) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,988) 700 (1,119) 63 (582) 0 (56) 0 0 486 10,140 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related products 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 517 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 23 495 16 Total liabilities at fair value 14,442 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 667 10,622 (980) Net assets/(liabilities) at fair value (3,864) (717) 4,664 4,074 (3,870) (5,030) 3,056 570 560 (1) (21) 35 243 (181) (482) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 2,712 of which debt securities 802 of which corporates 504 of which 97 Discounted cash flow Credit spread, in bp 35 750 407 Price, in % 0 101 52 of which 58 Market comparable Price, in % 0 97 49 Price, in actuals 100 100 100 of which 349 Price Price, in % 30 126 97 Price, in actuals 1 11,600 6,179 of which CDO 159 of which 85 Discounted cash flow Discount rate, in % 8 20 15 of which 43 Market comparable Price, in % 26 100 81 of which derivatives 1,195 of which equity/index-related products 488 of which 373 Option model Buyback probability, in % 2 50 100 69 Correlation, in % 0 100 78 Fund gap risk, in % 3 1 1 1 Volatility, in % 5 124 37 of which 94 Price Price, in % 95 95 95 Price, in actuals 0 125 19 of which other derivatives 495 Discounted cash flow Market implied life expectancy, in years 2 13 6 UK Mortality, in % 74 139 99 of which other trading assets 562 of which 436 Discounted cash flow Market implied life expectancy, in years 3 12 6 Tax swap rate, in % 30 30 30 of which 104 Market comparable Price, in % 0 104 12 of which 20 Option model Mortality rate, in % 0 70 6 Other investments 1,942 of which other equity investments 1,428 of which 1,250 Market comparable Price, in actuals 0 100 8 of which 147 Price Price, in actuals 0 524 101 of which 1 Option model Price, in actuals 98 693 396 of which life finance instruments 510 Discounted cash flow Market implied life expectancy, in years 2 14 6 Loans 815 of which commercial and industrial loans 219 of which 55 Discounted cash flow Credit spread, in bp 252 3,263 432 of which 17 Market comparable Price, in % 75 75 75 of which 146 Price Price, in % 4 100 38 of which financial institutions 287 of which 201 Discounted cash flow Credit spread, in bp 236 544 314 of which 86 Price Price, in % 23 63 56 of which government and public institutions 219 of which 125 Discounted cash flow Credit spread, in bp 231 650 357 of which 94 Price Price, in % 36 53 37 Other assets 907 of which loans held-for-sale 799 of which 281 Discounted cash flow Credit spread, in bp 244 3,263 527 Recovery rate, in % 65 65 65 of which 494 Market comparable Price, in % 0 200 77 of which 5 Price Price, in % 0 53 34 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 3,828 of which debt securities 1,211 of which corporates 413 of which 118 Discounted cash flow Credit spread, in bp 10 7,589 620 Price, in % 0 101 53 of which 75 Market comparable Price, in % 0 101 51 Price, in actuals 1 218 29 of which 216 Price Price, in % 30 126 87 Price, in actuals 0 11,640 2,203 of which RMBS 444 Discounted cash flow Discount rate, in % 3 33 12 of which derivatives 1,661 of which interest rate products 671 of which 1 Discounted cash flow Volatility, in % 95 110 103 of which 662 Option model Contingent probability, in % 95 95 95 Mean reversion, in % 2 25 25 25 Prepayment rate, in % 14 19 17 Volatility, in % (3) 1 (1) of which other derivatives 548 Discounted cash flow Market implied life expectancy, in years 2 13 6 UK Mortality, in % 74 139 99 of which other trading assets 734 of which 458 Discounted cash flow Market implied life expectancy, in years 3 13 6 Tax swap rate, in % 30 30 30 of which 251 Market comparable Price, in % 0 109 27 of which 25 Option model Mortality rate, in % 0 70 6 Other investments 3,313 of which other equity investments 2,725 of which 2,443 Market comparable Price, in actuals 0 275 109 of which 174 Price Price, in actuals 1 15 13 of which 46 Discounted cash flow Discount rate, in % 8 8 8 of which life finance instruments 587 Discounted cash flow Market implied life expectancy, in years 2 15 6 Loans 1,040 of which commercial and industrial loans 300 of which 124 Discounted cash flow Credit spread, in bp 280 2,596 756 of which 22 Market comparable Price, in % 74 74 74 of which 153 Price Price, in % 6 100 53 of which financial institutions 398 of which 282 Discounted cash flow Credit spread, in bp 242 1,278 497 of which 115 Price Price, in % 22 72 66 of which government and public institutions 254 of which 158 Discounted cash flow Credit spread, in bp 534 1,339 680 of which 96 Price Price, in % 35 42 36 Other assets 773 of which loans held-for-sale 648 of which 258 Discounted cash flow Credit spread, in bp 299 594 368 Recovery rate, in % 55 55 55 of which 363 Market comparable Price, in % 0 145 78 of which 14 Price Price, in % 0 79 59 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,461 of which derivatives 2,132 of which equity/index-related products 1,452 of which 1,416 Option model Correlation, in % 0 100 78 Dividend yield, in % 0 8 4 Volatility, in % 5 124 42 of which 20 Price Price, in actuals 0 1,562 48 of which credit derivatives 239 of which 115 Discounted cash flow Credit spread, in bp 6 752 176 Discount rate, in % 6 31 11 Recovery rate, in % 25 100 73 of which 114 Price Price, in % 99 101 100 of which other derivatives 279 Discounted cash flow Market implied life expectancy, in years 2 17 5 UK Mortality, in % 74 103 97 Short-term borrowings 204 of which 65 Discounted cash flow Credit spread, in bp 4 118 17 of which 119 Option model Correlation, in % 0 100 78 Buyback probability, in % 2 50 100 69 Fund gap risk, in % 3 1 1 1 Unadjusted NAV, in actuals 88 2,267 372 Volatility, in % 5 124 43 of which 4 Price Price, in % 20 20 20 Long-term debt 6,355 of which structured notes over two years 4,263 of which 578 Discounted cash flow Credit spread, in bp 5 363 104 of which 3,658 Option model Buyback probability, in % 2 50 100 69 Correlation, in % (10) 100 78 Credit spread, in bp 100 216 168 Fund gap risk, in % 3 1 1 1 Mean reversion, in % 4 25 25 25 Unadjusted NAV, in actuals 88 2,267 372 Volatility, in % 0 124 42 of which 4 Price Price, in % 12 12 12 of which other debt instruments over two years 1,564 of which 342 Option model Credit spread, in bp 30 707 253 of which 1,222 Price Price, in actuals 0 121 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 1,881 of which derivatives 1,640 of which equity/index-related products 1,083 of which 1,040 Option model Correlation, in % (50) 100 71 Dividend yield, in % 0 13 5 Fund gap risk, in % 2 0 2 0 Volatility, in % 5 148 29 of which 31 Price Price, in actuals 0 1,197 34 of which credit derivatives 242 of which 162 Discounted cash flow Credit spread, in bp 3 2,149 341 Discount rate, in % 6 17 11 Recovery rate, in % 10 100 69 of which 9 Market comparable Price, in % 71 101 86 of which 10 Option model Credit spread, in bp 47 1,528 194 of which 3 Price Price, in % 74 102 101 of which other derivatives 196 Discounted cash flow Market implied life expectancy, in years 2 18 6 UK Mortality, in % 74 103 97 Short-term borrowings 453 of which 8 Discounted cash flow Credit spread, in bp 142 276 267 of which 338 Option model Correlation, in % (50) 100 75 Buyback probability, in % 3 50 100 76 Volatility, in % 5 148 27 of which 94 Price Price, in % 20 20 20 Price, in actuals 1,296 1,296 1,296 Long-term debt 6,734 of which structured notes over two years 4,307 of which 508 Discounted cash flow Credit spread, in bp 10 430 142 of which 3,793 Option model Buyback probability, in % 3 50 100 76 Correlation, in % (50) 100 75 Credit spread, in bp 27 358 326 Fund gap risk, in % 2 0 2 0 Mean reversion, in % 4 25 25 25 Unadjusted NAV, in actuals 389 416 412 Volatility, in % 0 148 27 of which 6 Price Price, in % 17 17 17 of which other debt instruments over two years 1,728 of which 358 Option model Buyback probability, in % 3 50 100 76 Credit spread, in bp 50 770 317 Price, in actuals 8 8 8 of which 1,370 Price Price, in actuals 8 8 8 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Gains/(losses) attributable to changes in instrument-specific credit risk 1 Gains/(losses) recorded 1 in 6M23 Cumulative 6M22 6M23 6M22 Financial instruments (CHF million) Customer deposits (26) (25) 41 0 0 Short-term borrowings (33) (59) 0 2 0 Long-term debt 4,570 56 3,944 (9,174) 17 of which treasury debt over two years 6,454 36 2,041 (9,048) 0 of which structured notes over two years (1,583) (164) 1,476 (126) 17 Total 4,511 (28) 3,985 (9,172) 17 1 Amounts are reflected gross of tax. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments 6M23 2022 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 31,683 31,663 20 40,793 40,665 128 Loans 4,556 5,513 (957) 7,358 8,241 (883) Other assets 1 5,014 7,063 (2,049) 8,544 10,937 (2,393) Due to banks and customer deposits (316) (388) 72 (458) (562) 104 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (1,330) (1,342) 12 (14,133) (14,024) (109) Short-term borrowings (4,409) (4,445) 36 (6,783) (6,892) 109 Long-term debt 2 (40,071) (45,985) 5,914 (57,919) (71,891) 13,972 Other liabilities (428) (573) 145 (888) (1,043) 155 Non-accrual loans 3, 4 554 2,099 (1,545) 733 2,213 (1,480) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Generally, a loan is deemed non-accrual when the contractual payments of principal and/or interest are more than 90 days past due. 4 Included in loans or other assets. Gains and losses on financial instruments Net gains/(losses) in 6M23 6M22 Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 772 1 412 1 Other investments (186) 2 (11) 2 of which related to credit risk 0 (3) Loans 55 1 (24) 1 of which related to credit risk (79) (224) Other assets 2 2 183 1 of which related to credit risk (86) (85) Due to banks and customer deposits (97) 2 (43) 2 of which related to credit risk (3) (1) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (93) 1 (32) 1 Short-term borrowings (187) 2 1,069 2 of which related to credit risk 0 1 Long-term debt 10,430 3 6,098 2 of which related to credit risk 2 1 Other liabilities (188) 2 (66) 2 of which related to credit risk (210) (158) 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M23 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,086 0 21,085 0 21,085 Investment securities 1,498 1,310 159 0 1,469 Loans 1 242,703 0 97,286 138,655 235,941 Other financial assets 2 116,172 100,567 12,094 3,525 116,186 Financial liabilities Due to banks and customer deposits 189,864 114,038 75,764 0 189,802 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 1,619 0 1,619 0 1,619 Short-term borrowings 71,675 0 71,675 0 71,675 Long-term debt 94,507 0 90,982 3,260 94,242 Other financial liabilities 3 7,388 0 7,093 306 7,399 2022 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 18,005 0 18,005 0 18,005 Investment securities 921 911 0 0 911 Loans 256,825 0 107,101 4 146,677 4 253,778 Other financial assets 2 91,451 68,104 20,246 2,922 91,272 Financial liabilities Due to banks and customer deposits 243,506 149,696 93,714 0 243,410 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 6,238 0 6,238 0 6,238 Short-term borrowings 7,705 0 7,703 0 7,703 Long-term debt 92,742 0 73,596 13,366 86,962 Other financial liabilities 3 8,551 0 7,984 523 8,507 1 As a result of the acquisition, Credit Suisse has applied a change in estimate to align the discount rate for the fair value determination of the Swiss accrual loan book to that of UBS. 2 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 3 Primarily includes cash collateral on derivative instruments and interest and fee payables. 4 Credit Suisse has aligned the fair value levelling of the Swiss accrual loan book to that of UBS, resulting in a reclassification of CHF 133.9 billion from level 2 to level 3. |
Assets pledged and collateral (
Assets pledged and collateral (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Assets pledged and collateral | Assets pledged end of 6M23 2022 CHF million Total assets pledged or assigned as collateral 113,063 1 63,111 of which encumbered 14,501 25,445 1 Includes Swiss mortgages pledged to SNB in connection with the Emergency Liquidity Assistance (ELA) facility. |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M23 2022 CHF million Fair value of collateral received with the right to sell or repledge 91,345 150,198 of which sold or repledged 32,009 75,819 |
Business developments (Details)
Business developments (Details) | 6 Months Ended |
Jun. 30, 2023 | |
Acquisition by UBS [Member] | |
Business development, Description | Acquisition by UBS On June 12, 2023, the acquisition of Credit Suisse Group AG (the former parent company of Credit Suisse AG) by UBS Group AG (UBS) was consummated. The acquisition of Credit Suisse Group AG resulted in changes that had significant impacts on Credit Suisse’s US GAAP results in 6M23. These acquisition-related effects included fair valuation adjustments, impairments of internally developed software, integration costs, acquisition-related compensation expenses, the write-down of intangible assets and other acquisition-related adjustments. The acquisition resulted in changes in exit strategies and principal markets as well as changes of intent in connection with UBS’s plans for underlying positions or portfolios. The effect of these changes were fair valuation adjustments of CHF 2.2 billion in 6M23, including from asset reclassifications to held-for-sale and certain specific equity impairments. As a result of the acquisition, a detailed review of internally developed software applications and an assessment of their fair value has been performed reflecting the usability and useful life for UBS. Following this assessment, which included a number of applications that were found to be overlapping with UBS systems, an impairment of CHF 1.8 billion was recorded in 6M23. 6M23 was further impacted by certain compensation-related developments in connection with the acquisition. Credit Suisse recorded integration costs, which are defined as expenses that are temporary, incremental and directly related to the integration of UBS and Credit Suisse, of CHF 0.3 billion. The integration costs primarily related to compensation costs of internal staff and contractors substantially dedicated to integration activities and certain retention awards granted during the period. As a result of the alignment of certain Credit Suisse processes to those of UBS, including the variable incentive framework, acquisition-related compensation expenses were CHF 0.2 billion. |
Litigation provisions [Member] | |
Business development, Description | Litigation provisions In 6M23, net litigation provisions of CHF 1.5 billion were recorded, mainly related to developments including settlements and new information in a number of previously disclosed legal matters. > Refer to “Note 25 - Litigation” for further information. |
Goodwill impairment [Member] | |
Business development, Description | Goodwill impairment Credit Suisse reported goodwill impairment charges of CHF 2.3 billion in 6M23, mostly recognized in Wealth Management and Asset Management. > Refer to “Note 14 - Goodwill” for further information. |
Compensation matters [Member] | |
Business development, Description | Compensation On April 5, 2023, the Swiss Federal Council instructed the Swiss Federal Department of Finance to cancel or reduce the outstanding variable remuneration for the top three levels of management at Credit Suisse. Under US GAAP accounting guidance, the nature of such a cancellation of deferred compensation required an acceleration of deferred compensation expense in 6M23 for the outstanding share-based portion of the compensation awards, with a corresponding credit to shareholders’ equity, and for the smaller impact from the cancellation of cash-based awards, a credit to the income statement for previously accrued expenses. The net impact of these cancellations and reductions of variable remuneration on Credit Suisse’s compensation expenses in 6M23 was CHF 90 million. Furthermore, 6M23 included the cancellation of the prior-year contingent capital awards (CCA) resulting in a credit of CHF 408 million recognized in deferred compensation. |
AT1-Write Down [Member] | |
Business development, Description | Write-down of additional tier 1 capital notes In March 2023, FINMA ordered that former Credit Suisse Group’s outstanding amount of additional tier 1 capital notes of nominal value of approximately CHF 16 billion and a fair value of approximately CHF 15 billion be written down to zero. At the Credit Suisse level, this led to a corresponding gain in 6M23 of CHF 14.1 billion recognized in other revenues. |
Liquidity matters [Member] | |
Business development, Description | Liquidity developments Following the completion of the acquisition by UBS, Credit Suisse became part of the overall UBS liquidity and funding management. Credit Suisse now leverages the market access of UBS and engages in secured and unsecured intercompany transactions to facilitate funding between entities. After the deposit outflows experienced in the first half of 6M23, Credit Suisse saw deposit inflows of CHF 15 billion in the second half of 6M23. The SNB granted Credit Suisse access to liquidity facilities, including Emergency Liquidity Assistance (ELA), Emergency Liquidity Assistance Plus (ELA+) and the Public Liquidity Backstop (PLB), which has provided liquidity support to Credit Suisse, a portion of which was supported by default guarantees provided by the Swiss government. The liquidity situation and the ability to transfer funding between the UBS and Credit Suisse entities have allowed Credit Suisse to continue to repay the various liquidity facilities. All loans under the PLB were fully repaid by Credit Suisse as of the end of May 2023. As of June 30, 2023, the net amount of borrowings under the liquidity facilities was CHF 63 billion, which consisted of CHF 38 billion under ELA, fully collateralized by Swiss mortgages, and CHF 25 billion under ELA+. Credit Suisse AG fully repaid the ELA+ loans as of August 10, 2023. Credit Suisse AG is reliant on funding from UBS Group AG, which has provided a letter of support that confirms its intent to keep Credit Suisse AG in good standing and in compliance with its regulatory capital, liquidity requirements and debt covenants and to fully support its operating, investing and financing activities through at least September 30, 2024. |
AuM-Net asset outflows [Member] | |
Business development, Description | Outflows in assets under management At the Credit Suisse level, net asset outflows in 6M23 were CHF 100 billion or 8% of assets under management as of the end of 2022. Net assets outflows slowed considerably following the March announcement of the acquisition by UBS. In the second half of 6M23, net asset outflows were CHF 39 billion. |
Sale of business [Member] | |
Business development, Description | Securitized Products Group In 6M23, Credit Suisse completed the sale of a significant part of SPG to entities and funds managed by affiliates of Apollo. In connection with the initial closing of this transaction, Credit Suisse and Apollo entered into various ancillary agreements related to the transaction, including an investment management agreement, certain financing arrangements and a transition services agreement. In the first half of 6M23, Credit Suisse recognized a pre-tax gain of USD 0.8 billion as a result of the Apollo transaction. This gain was partially offset by losses on the valuation of certain financing arrangements associated with the Apollo transaction in the second half of 6M23. |
Contract termination [Member] | |
Business development, Description | CS First Boston In April 2023, Credit Suisse Group AG and M. Klein & Co LLC mutually agreed to terminate the acquisition of The Klein Group, LLC (i.e., the investment banking business of M. Klein & Co. LLC) by Credit Suisse Group AG considering UBS’s acquisition of Credit Suisse Group AG. |
Business developments - Subsequ
Business developments - Subsequent events (Details 4) - Subsequent Event $ in Billions | 3 Months Ended |
Sep. 30, 2023 USD ($) | |
Subsequent Event [Line Items] | |
Subsequent Event, Description | On August 31, 2023, UBS announced the creation of a Non-Core and Legacy (NCL) business division, which is expected to include Credit Suisse positions and businesses not aligned with UBS’s strategy and policies, such as the assets and liabilities of the Capital Release Unit and certain assets and liabilities of the Investment Bank, Wealth Management and Asset Management divisions. UBS aims to substantially complete the integration of Credit Suisse into UBS by the end of 2026. Also, as part of the integration of Credit Suisse, UBS plans to simplify the legal structure, including the merger of UBS AG and Credit Suisse AG planned for 2024. UBS also announced the proposed integration of Credit Suisse (Schweiz) AG with UBS Switzerland AG through a merger of the two banks. UBS expects to merge the two banks in 2024. The announced measures will have an impact on Credit Suisse’s divisions and may result in further impairments and write-downs, including relating to goodwill, software and real estate, certain fair value adjustments related to portfolios classified as held-for-sale, as well as tax impacts. In 3Q23, management decided to exit certain loan portfolios held in the NCL, which will result in a reclassification of these loans from held at amortized cost to held-for-sale and an expected loss in 3Q23 of approximately USD 1.6 billion. In addition, a decision was made to wind down certain management arrangements, which may result in a loss of up to USD 0.6 billion in 3Q23. |
Forecast/Estimate | |
Subsequent Event [Line Items] | |
Estimated Loss From Reclassification Of Financial Assets From Amort Cost To HFS | $ 1.6 |
Estimated Loss From Wind down Of Management Arrangements | $ 0.6 |
Business developments - Busines
Business developments - Business developments (Details 5) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Subsidiary, Sale of Stock [Line Items] | ||
Net revenues | SFr 17,102 | SFr 8,130 |
Total operating expenses | SFr 13,946 | SFr 9,931 |
Segment information - Income st
Segment information - Income statement related (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Segment Reporting Information | ||
Net revenues | SFr 17,102 | SFr 8,130 |
Gain From Write-down Of AT1 Capital Notes Relating To Credit Suisse Group AG | 894 | |
Income/(loss) before taxes | 2,939 | (1,754) |
Operating Segments [Member] | Investment Bank | ||
Segment Reporting Information | ||
Net revenues | 933 | 2,450 |
Income/(loss) before taxes | (2,400) | (596) |
Operating Segments [Member] | Asset Management | ||
Segment Reporting Information | ||
Net revenues | 155 | 630 |
Income/(loss) before taxes | (1,401) | 98 |
Operating Segments [Member] | Capital Release Unit | ||
Segment Reporting Information | ||
Net revenues | (1,275) | 437 |
Income/(loss) before taxes | (3,181) | (1,022) |
Operating Segments [Member] | Swiss Universal Bank (old) | ||
Segment Reporting Information | ||
Net revenues | 1,845 | 2,223 |
Income/(loss) before taxes | 156 | 888 |
Operating Segments [Member] | International Wealth Management (old) | ||
Segment Reporting Information | ||
Net revenues | 1,655 | 2,641 |
Income/(loss) before taxes | (2,723) | 147 |
Corporate Center | ||
Segment Reporting Information | ||
Net revenues | 14,566 | (324) |
Income/(loss) before taxes | 13,339 | (1,116) |
Adjustments | ||
Segment Reporting Information | ||
Net revenues | (777) | 73 |
Income/(loss) before taxes | SFr (851) | SFr (153) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Segment Reporting Information | ||
Total assets | SFr 483,735 | SFr 530,039 |
Operating Segments | Investment Bank | ||
Segment Reporting Information | ||
Total assets | 86,514 | 74,932 |
Operating Segments | Asset Management | ||
Segment Reporting Information | ||
Total assets | 1,538 | 3,382 |
Operating Segments | Capital Release Unit | ||
Segment Reporting Information | ||
Total assets | 67,046 | 102,648 |
Operating Segments | Swiss Universal Bank (old) | ||
Segment Reporting Information | ||
Total assets | 189,213 | 197,627 |
Operating Segments | International Wealth Management (old) | ||
Segment Reporting Information | ||
Total assets | 95,610 | 128,192 |
Corporate Center | ||
Segment Reporting Information | ||
Total assets | 47,734 | 24,577 |
Adjustments | ||
Segment Reporting Information | ||
Total assets | SFr (3,920) | SFr (1,319) |
Net interest income (Details)
Net interest income (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net interest income | ||
Loans | SFr 4,105 | SFr 2,479 |
Investment securities | 38 | (12) |
Trading assets | 823 | 1,264 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 1,565 | 619 |
Other | 2,107 | 335 |
Interest and dividend income | 8,638 | 4,685 |
Deposits | (1,585) | (330) |
Short-term borrowings | (1,264) | (28) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (481) | (240) |
Long-term debt | (3,023) | (1,205) |
Other | (486) | (197) |
Interest expense | (6,839) | (2,000) |
Net interest income | SFr 1,799 | SFr 2,685 |
Trading revenues (Details)
Trading revenues (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Trading revenues | ||
Trading revenues | SFr (2,146) | SFr (46) |
Interest rate products | ||
Trading revenues | ||
Trading revenues | (1,728) | (896) |
Foreign exchange products | ||
Trading revenues | ||
Trading revenues | 332 | (132) |
Equity/index-related products | ||
Trading revenues | ||
Trading revenues | 92 | 380 |
Credit products | ||
Trading revenues | ||
Trading revenues | (311) | 1,039 |
Commodity, emission and energy products | ||
Trading revenues | ||
Trading revenues | (23) | 40 |
Other trading securities | ||
Trading revenues | ||
Trading revenues | SFr (508) | SFr (477) |
Provision for credit losses (De
Provision for credit losses (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Provision for credit losses | ||
Loans held at amortized cost | SFr 206 | SFr 114 |
Other financial assets held at amortized cost | 12 | (147) |
Off-balance sheet credit exposures | (1) | (14) |
Provision for credit losses | SFr 217 | (47) |
Archegos Capital Management [Member] | ||
Provision for credit losses | ||
Other financial assets held at amortized cost | SFr (155) |
Restructuring expenses (Details
Restructuring expenses (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | SFr 391 | SFr 120 |
General and Administrative Expense [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 231 | 15 |
of which pensions | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 15 | 1 |
Compensation and benefits | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 160 | 105 |
of which severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 88 | 27 |
of which accelerated deferred compensation | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 65 | 70 |
Operating Segments | Wealth Management | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 46 | 22 |
Operating Segments | Investment Bank | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 150 | 32 |
Operating Segments | Swiss Bank | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 36 | 3 |
Operating Segments | Asset Management | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 5 | 1 |
Operating Segments | Capital Release Unit | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 137 | 67 |
Corporate Center | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 48 | 1 |
Adjustments | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | SFr (31) | SFr (6) |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Restructuring provision | ||
Restructuring Reserve, Beginning Balance | SFr 114 | SFr 19 |
Restructuring expenses | 391 | 120 |
Utilization | 270 | 30 |
Restructuring Reserve, Ending Balance | SFr 51 | 29 |
Stock compensation plan | Share awards | ||
Restructuring provision | ||
Vesting period | 3 years | |
General and Administrative Expense [Member] | ||
Restructuring provision | ||
Restructuring Reserve, Beginning Balance | SFr 0 | 0 |
Restructuring expenses | 231 | 15 |
Utilization | 114 | 13 |
Restructuring Reserve, Ending Balance | 5 | 0 |
of which pensions | ||
Restructuring provision | ||
Restructuring expenses | 15 | 1 |
Compensation and benefits | ||
Restructuring provision | ||
Restructuring Reserve, Beginning Balance | 114 | 19 |
Restructuring expenses | 88 | 27 |
Utilization | 156 | 17 |
Restructuring Reserve, Ending Balance | 46 | 29 |
Unsettled share-based compensation obligations classified as a component of total shareholders equity | ||
Restructuring provision | ||
Restructuring expenses | 4 | 30 |
Other personnel-related charges | ||
Restructuring provision | ||
Restructuring expenses | 68 | 48 |
Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | ||
Restructuring provision | ||
Restructuring expenses | 207 | 40 |
General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | ||
Restructuring provision | ||
Restructuring expenses | 119 | 13 |
Accelerated accumulated depreciation | ||
Restructuring provision | ||
Restructuring expenses | SFr 97 | SFr 1 |
Revenue from contracts with c_3
Revenue from contracts with customers (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | SFr 2,692 | SFr 4,040 |
Other securities business [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 33 | 29 |
Underwriting [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 117 | 370 |
Brokerage [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 765 | 1,277 |
Investment Advice [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 1,308 | 1,578 |
Service, Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | SFr 469 | SFr 786 |
Revenue from contracts with c_4
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | |
Jun. 30, 2023 | Mar. 31, 2023 | |
Contract balances [Line Items] | ||
Accounts Receivable, Net | SFr 580 | SFr 686 |
Contract with Customer, Liability | 47 | 54 |
Contract with Customer, Liability, Revenue Recognized | SFr 7 | SFr 10 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Investment securities disclosures | ||
Debt securities held-to-maturity, Net carrying value | SFr 1,498 | SFr 921 |
Available-for-sale Securities, Debt Securities | 854 | 796 |
Total investment securities | SFr 2,352 | SFr 1,717 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Held-to-maturity securities | ||
Debt securities held-to-maturity | SFr 0 | SFr 0 |
Debt securities held-to-maturity, before allowance for credit losses | 1,498 | 921 |
Accrued interest excluded from amortized cost base of total Debt securities held-to-maturity | 18 | 10 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 31 | 40 |
Fair value | 1,467 | 881 |
Available-for-sale securities | ||
Amortized cost, before allowance for credit losses, Debt Securities | 1,004 | 952 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | 0 |
Gross unrealized gains, Debt securities | 0 | 0 |
Gross unrealized losses, Debt securities | 150 | 156 |
Fair value, Debt securities | 854 | 796 |
Debt Securities Available-for-Sale Financing Receivable, Accrued Interest, Before Allowance for Credit Loss | 4 | 1 |
Debt securities issued by foreign governments | ||
Held-to-maturity securities | ||
Debt securities held-to-maturity | 0 | 0 |
Debt securities held-to-maturity, before allowance for credit losses | 1,498 | 921 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 31 | 40 |
Fair value | 1,467 | 881 |
Corporate debt securities | ||
Available-for-sale securities | ||
Amortized cost, before allowance for credit losses, Debt Securities | 1,004 | 952 |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | 0 |
Gross unrealized gains, Debt securities | 0 | 0 |
Gross unrealized losses, Debt securities | 150 | 156 |
Fair value, Debt securities | SFr 854 | SFr 796 |
Investment securities - Unreali
Investment securities - Unrealized losses/fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | SFr 179 | SFr 374 |
Fair value, 12 months or more | 666 | 404 |
Fair value, total | 845 | 778 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 6 | 58 |
Gross unrealized losses, 12 months or more | 144 | 98 |
Gross unrealized losses, total | 150 | 156 |
Corporate debt securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | 179 | 374 |
Fair value, 12 months or more | 666 | 404 |
Fair value, total | 845 | 778 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 6 | 58 |
Gross unrealized losses, 12 months or more | 144 | 98 |
Gross unrealized losses, total | SFr 150 | SFr 156 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 0 | SFr 45 |
Realized losses | SFr 0 | SFr 6 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 5) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due within 1 year, amortized cost | SFr 0 | |
Due from 1 to 5 years, amortized cost | 1,498 | |
Due from 5 to 10 years, amortized cost | 0 | |
Debt securities held-to-maturity, amortized cost | 1,498 | |
Accrued interest excluded from amortized cost base of total Debt securities held-to-maturity | 18 | SFr 10 |
Due within 1 year, fair value | 0 | |
Due from 1 to 5 years, fair value | 1,467 | |
Due from 5 to 10 years, fair value | 0 | |
Debt securities held-to-maturity, fair value | SFr 1,467 | |
Due within 1 year, average yield (as a percent) | 0% | |
Due from 1 to 5 years, average yield (as a percent) | 3.67% | |
Due from 5 to 10 years, average yield (as a percent) | 0% | |
Total, average yield (as a percent) | 3.67% |
Investment securities - Matur_2
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale [Line Items] | ||
Due within 1 year, amortized cost | SFr 8 | |
Due from 1 to 5 years, amortized cost | 285 | |
Due from 5 to 10 years, amortized cost | 711 | |
Total, amortized cost, before allowance for credit losses | 1,004 | SFr 952 |
Due within 1 year, fair value | 8 | |
Due from 1 to 5 years, fair value | 251 | |
Due from 5 to 10 years, fair value | 595 | |
Total, fair value | SFr 854 | 796 |
Due within 1 year, average yield (as a percent) | 0.53% | |
Due from 1 to 5 years, average yield (as a percent) | 0.14% | |
Due from 5 to 10 years, average yield (as a percent) | 0.70% | |
Total, average yield (as a percent) | 0.54% | |
Debt Securities Available-for-Sale Financing Receivable, Accrued Interest, Before Allowance for Credit Loss | SFr 4 | SFr 1 |
Investment securities - Allowan
Investment securities - Allowance for credit loss (Details 7) | Jun. 30, 2023 |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 13 |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Other investments | |||
Other investments | SFr 4,667 | SFr 5,463 | |
Accumulated depreciation, real estate held for investment | 25 | 24 | |
Impairment charges | 0 | SFr 0 | |
Foreclosed or Repossessed, Real Estate [Member] | |||
Other investments | |||
Other investments | 21 | 20 | |
Equity method investments | |||
Other investments | |||
Other investments | 2,151 | 1,618 | |
Equity securities (without a readily determinable fair value) | |||
Other investments | |||
Other investments | 1,959 | 3,212 | |
of which at net asset value | |||
Other investments | |||
Other investments | 112 | 72 | |
of which at measurement alternative | |||
Other investments | |||
Other investments | 375 | 366 | |
of which at fair value | |||
Other investments | |||
Other investments | 1,430 | 2,727 | |
of which at cost less impairment | |||
Other investments | |||
Other investments | 42 | 47 | |
Real estate held for investment | |||
Other investments | |||
Other investments | 47 | 46 | |
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | |||
Other investments | |||
Other investments | 21 | 20 | |
Life finance instruments | |||
Other investments | |||
Other investments | SFr 510 | SFr 587 |
Other investments (Details 2)
Other investments (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other investments | ||
Impairments and downward adjustments | SFr (66) | |
Impairments and downward adjustments, Annual Amount | (12) | SFr (4) |
Upward adjustments | 147 | |
Upward adjustments, Annual Amount | SFr 0 | SFr 0 |
Loans, allowance for loan los_3
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Loans | |||||
Gross loans | SFr 252,895 | SFr 269,537 | |||
of which held at amortized cost | 248,339 | 262,179 | |||
of which held at fair value | 4,556 | 7,358 | |||
Net (unearned income)/deferred expenses | (86) | (71) | |||
Allowance for credit losses | (1,522) | SFr (1,366) | (1,362) | SFr (1,359) | SFr (1,296) |
Net loans | 251,287 | 268,104 | |||
Non-performing loans | 1,626 | 1,614 | |||
Non-interest-earning loans | 286 | 338 | |||
Non-accrual loans | 1,912 | 1,952 | 1,983 | 1,952 | |
Restructured loans | 484 | ||||
Potential problem loans | 1,323 | 977 | |||
Total other impaired loans | 1,323 | 1,461 | |||
Gross impaired loans | 3,235 | 3,413 | |||
Switzerland | |||||
Loans | |||||
Gross loans | 158,830 | 166,982 | |||
Foreign | |||||
Loans | |||||
Gross loans | 94,065 | 102,555 | |||
Corporate and institutional | |||||
Loans | |||||
Gross loans | 111,040 | 118,713 | |||
of which held at amortized cost | 105,039 | 107,421 | |||
Allowance for credit losses | (1,120) | (1,007) | (976) | (939) | |
Non-accrual loans | 1,034 | 1,098 | 1,042 | 913 | |
Corporate and institutional | Real estate | |||||
Loans | |||||
Gross loans | 23,153 | 25,463 | |||
of which held at amortized cost | 22,984 | 25,157 | |||
Non-accrual loans | 334 | 127 | 143 | 167 | |
Corporate and institutional | Commercial and industrial loans | |||||
Loans | |||||
Gross loans | 58,665 | 62,740 | |||
of which held at amortized cost | 55,816 | 59,366 | |||
Non-accrual loans | 551 | 801 | 696 | 686 | |
Corporate and institutional | Financial institutions | |||||
Loans | |||||
Gross loans | 26,964 | 27,955 | |||
of which held at amortized cost | 25,111 | 21,711 | |||
Non-accrual loans | 138 | 159 | 192 | 41 | |
Corporate and institutional | Governments and public institutions | |||||
Loans | |||||
Gross loans | 2,258 | 2,555 | |||
of which held at amortized cost | 1,128 | 1,187 | |||
Non-accrual loans | 11 | 11 | 11 | 19 | |
Consumer | |||||
Loans | |||||
Gross loans | 141,855 | 150,824 | |||
of which held at amortized cost | 141,841 | 150,808 | |||
Allowance for credit losses | (402) | SFr (359) | (383) | (357) | |
Non-accrual loans | 878 | 854 | 941 | 1,039 | |
Consumer | Mortgages | |||||
Loans | |||||
Gross loans | 104,202 | 107,484 | |||
of which held at amortized cost | 104,202 | 107,484 | |||
Non-accrual loans | 396 | 383 | 503 | 572 | |
Consumer | Loans collateralized by securities | |||||
Loans | |||||
Gross loans | 31,776 | 37,639 | |||
of which held at amortized cost | 31,776 | 37,639 | |||
Non-accrual loans | 285 | 283 | 238 | 262 | |
Consumer | Consumer finance | |||||
Loans | |||||
Gross loans | 5,877 | 5,701 | |||
of which held at amortized cost | 5,863 | 5,685 | |||
Non-accrual loans | 197 | 188 | SFr 200 | SFr 205 | |
Bank | |||||
Loans | |||||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | SFr 102 | SFr 130 |
CECL - Financial instruments _3
CECL - Financial instruments measured at amortized cost and credit losses (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||||
Cash and due from banks, Amortized cost basis | SFr 100,001 | SFr 67,548 | |||
Cash and due from banks, Allowance for credit losses | (4) | 0 | |||
Cash and due from banks, Net carrying value | 99,997 | 67,548 | |||
Interest-bearing deposits with banks, Amortized cost basis | 323 | 373 | |||
Interest-bearing deposits with banks, Allowance for credit losses | 0 | 0 | |||
Interest-bearing deposits with banks, Net carrying value | 323 | 373 | |||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 21,086 | 18,005 | |||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | 0 | |||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 21,086 | 18,005 | |||
Debt securities held-to-maturity, Amortized cost basis | 1,498 | 921 | |||
Debt securities held-to-maturity, Allowance for credit losses | 0 | 0 | |||
Debt securities held-to-maturity, Net carrying value | 1,498 | 921 | |||
Loans, Amortized cost basis | 248,253 | 262,108 | |||
Allowance for credit losses | (1,522) | SFr (1,366) | (1,362) | SFr (1,359) | SFr (1,296) |
Loans, Net carrying value | 246,731 | 260,746 | |||
Brokerage receivables, Amortized cost basis | 4,005 | 17,899 | |||
Brokerage receivables, Allowance for credit losses | 0 | (4,081) | |||
Brokerage receivables, Net carrying value | 4,005 | 13,818 | |||
Other assets, Amortized cost basis | 15,848 | 23,521 | |||
Other assets, Allowance for credit losses | (39) | (37) | |||
Other assets, Net carrying value | 15,809 | 23,484 | |||
Total, Amortized cost basis | 391,014 | 390,375 | |||
Total, Allowance for credit losses | (1,565) | (5,480) | |||
Total, Net carrying value | SFr 389,449 | SFr 384,895 |
CECL - Financial instruments _4
CECL - Financial instruments measured at amortized cost and credit losses (Details 1) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 592 | SFr 549 |
Allowance for credit losses on accrued interest excluded from amortized cost base of total Financial assets held at amortized cost | 0 | 0 |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | 1 | 1 |
Accrued interest excluded from amortized cost base of total Securities purchased under resale agreements and securities borrowing transactions | 4 | |
Accrued interest excluded from amortized cost base of total Debt securities held-to-maturity | 18 | 10 |
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | 573 | 534 |
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 106 | SFr 102 |
CECL (Details 2)
CECL (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 1,362 | SFr 1,296 |
Current-period provision for expected credit losses | 253 | 135 |
of which provisions for interest | 47 | 21 |
Gross write-offs | (79) | (95) |
Recoveries | 4 | 7 |
Net write-offs | (75) | (88) |
Foreign currency translation impact and other adjustments, net | (22) | 16 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,522 | 1,359 |
of which individually evaluated | 939 | 825 |
of which collectively evaluated | 583 | 534 |
Loans held at amortized cost | ||
Purchases | 2,321 | 2,328 |
Reclassifications from loans held-for-sale | 621 | 95 |
Reclassifications to loans held-for-sale | 1,312 | 1,480 |
Sales | 606 | 1,283 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Current-period provision for expected credit losses | 4 | |
Corporate and institutional | ||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 939 | |
Current-period provision for expected credit losses | 172 | 92 |
of which provisions for interest | 30 | 11 |
Gross write-offs | (44) | (69) |
Recoveries | 0 | 3 |
Net write-offs | (44) | (66) |
Foreign currency translation impact and other adjustments, net | (15) | 11 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,120 | 976 |
of which individually evaluated | 664 | 544 |
of which collectively evaluated | 456 | 432 |
Loans held at amortized cost | ||
Purchases | 2,302 | 2,312 |
Reclassifications from loans held-for-sale | 621 | 95 |
Reclassifications to loans held-for-sale | 1,312 | 1,480 |
Sales | 606 | 1,283 |
Consumer | ||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 357 | |
Current-period provision for expected credit losses | 81 | 43 |
of which provisions for interest | 17 | 10 |
Gross write-offs | (35) | (26) |
Recoveries | 4 | 4 |
Net write-offs | (31) | (22) |
Foreign currency translation impact and other adjustments, net | (7) | 5 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 402 | 383 |
of which individually evaluated | 275 | 281 |
of which collectively evaluated | 127 | 102 |
Loans held at amortized cost | ||
Purchases | 19 | 16 |
Reclassifications from loans held-for-sale | 0 | 0 |
Reclassifications to loans held-for-sale | 0 | 0 |
Sales | SFr 0 | SFr 0 |
CECL (Details 3)
CECL (Details 3) SFr in Millions | Jun. 30, 2023 CHF (SFr) |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | SFr 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 0 |
Debt securities issued by foreign governments | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | SFr 0 |
CECL (Details 4)
CECL (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 0 | |
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | |
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | |
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,081 | |
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 37 | |
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,118 | SFr 4,214 |
Other financial assets, Current-period provision for expected credit losses | 12 | (147) |
Other financial assets, Gross write-offs | (4,031) | (4) |
Other financial assets, Recovery | 0 | 0 |
Other financial assets, Net write-offs | (4,031) | (4) |
Other financial assets, Foreign currency translation impact and other adjustments, net | (56) | 186 |
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4 | |
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | |
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | |
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | |
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 39 | |
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 43 | 4,249 |
Other financial assets, individually evaluated | 20 | 4,230 |
Other financial assets, collectively evaluated | SFr 23 | 19 |
Archegos Capital Management [Member] | ||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | ||
Other financial assets, Current-period provision for expected credit losses | SFr (155) |
CECL (Details 5)
CECL (Details 5) SFr in Millions | 6 Months Ended |
Jun. 30, 2023 CHF (SFr) | |
Debt securities issued by foreign governments | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |
Purchases | SFr 630 |
CECL (Details 6)
CECL (Details 6) - CHF (SFr) SFr in Millions | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | SFr 1,912 | SFr 1,983 | SFr 1,952 | SFr 1,952 |
Interest income recognized | 36 | 10 | ||
Amortized cost of non-accrual assets with no specific allowance | 81 | 139 | ||
Corporate and institutional | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 1,034 | 1,042 | 1,098 | 913 |
Interest income recognized | 30 | 6 | ||
Amortized cost of non-accrual assets with no specific allowance | 15 | 62 | ||
Corporate and institutional | Real estate | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 334 | 143 | 127 | 167 |
Interest income recognized | 6 | 0 | ||
Amortized cost of non-accrual assets with no specific allowance | 1 | 0 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 551 | 696 | 801 | 686 |
Interest income recognized | 10 | 6 | ||
Amortized cost of non-accrual assets with no specific allowance | 12 | 57 | ||
Corporate and institutional | Financial institutions | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 138 | 192 | 159 | 41 |
Interest income recognized | 13 | 0 | ||
Amortized cost of non-accrual assets with no specific allowance | 0 | 3 | ||
Corporate and institutional | Governments and public institutions | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 11 | 11 | 11 | 19 |
Interest income recognized | 1 | 0 | ||
Amortized cost of non-accrual assets with no specific allowance | 2 | 2 | ||
Consumer | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 878 | 941 | 854 | 1,039 |
Interest income recognized | 6 | 4 | ||
Amortized cost of non-accrual assets with no specific allowance | 66 | 77 | ||
Consumer | Mortgages | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 396 | 503 | 383 | 572 |
Interest income recognized | 5 | 1 | ||
Amortized cost of non-accrual assets with no specific allowance | 64 | 74 | ||
Consumer | Loans collateralized by securities | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 285 | 238 | 283 | 262 |
Interest income recognized | 0 | 2 | ||
Amortized cost of non-accrual assets with no specific allowance | 2 | 2 | ||
Consumer | Consumer finance | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 197 | 200 | SFr 188 | SFr 205 |
Interest income recognized | 1 | 1 | ||
Amortized cost of non-accrual assets with no specific allowance | SFr 0 | SFr 1 |
CECL (Details 7)
CECL (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | SFr 248,253 | SFr 262,108 |
Total | 248,339 | 262,179 |
Past due more than 90 days and still accruing | 0 | 0 |
Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 245,296 | 259,302 |
Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 3,043 | 2,877 |
Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 958 | 789 |
Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 468 | 220 |
Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 209 | 98 |
Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,408 | 1,770 |
Corporate and institutional | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 105,039 | 107,421 |
Corporate and institutional | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 103,264 | 105,864 |
Corporate and institutional | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,775 | 1,557 |
Corporate and institutional | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 579 | 432 |
Corporate and institutional | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 368 | 91 |
Corporate and institutional | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 133 | 24 |
Corporate and institutional | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 695 | 1,010 |
Corporate and institutional | Real estate | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 22,984 | 25,157 |
Corporate and institutional | Real estate | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 22,679 | 24,946 |
Corporate and institutional | Real estate | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 305 | 211 |
Corporate and institutional | Real estate | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 31 | 35 |
Corporate and institutional | Real estate | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 101 | 49 |
Corporate and institutional | Real estate | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Corporate and institutional | Real estate | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 173 | 127 |
Corporate and institutional | Commercial and industrial loans | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 55,816 | 59,366 |
Corporate and institutional | Commercial and industrial loans | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 54,743 | 58,267 |
Corporate and institutional | Commercial and industrial loans | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,073 | 1,099 |
Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 424 | 320 |
Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 235 | 42 |
Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 40 | 24 |
Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 374 | 713 |
Corporate and institutional | Financial institutions | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 25,111 | 21,711 |
Corporate and institutional | Financial institutions | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 24,729 | 21,480 |
Corporate and institutional | Financial institutions | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 382 | 231 |
Corporate and institutional | Financial institutions | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 121 | 72 |
Corporate and institutional | Financial institutions | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 31 | 0 |
Corporate and institutional | Financial institutions | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 93 | 0 |
Corporate and institutional | Financial institutions | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 137 | 159 |
Corporate and institutional | Governments and public institutions | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 1,128 | 1,187 |
Corporate and institutional | Governments and public institutions | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,113 | 1,171 |
Corporate and institutional | Governments and public institutions | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 15 | 16 |
Corporate and institutional | Governments and public institutions | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 3 | 5 |
Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1 | 0 |
Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Corporate and institutional | Governments and public institutions | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 11 | 11 |
Consumer | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 141,841 | 150,808 |
Consumer | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 140,573 | 149,488 |
Consumer | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,268 | 1,320 |
Consumer | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 379 | 357 |
Consumer | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 100 | 129 |
Consumer | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 76 | 74 |
Consumer | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 713 | 760 |
Consumer | Mortgages | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 104,202 | 107,484 |
Consumer | Mortgages | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 103,687 | 107,033 |
Consumer | Mortgages | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 515 | 451 |
Consumer | Mortgages | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 143 | 66 |
Consumer | Mortgages | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 85 | 43 |
Consumer | Mortgages | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 16 | 8 |
Consumer | Mortgages | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 271 | 334 |
Consumer | Loans collateralized by securities | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 31,776 | 37,639 |
Consumer | Loans collateralized by securities | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 31,483 | 37,308 |
Consumer | Loans collateralized by securities | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 293 | 331 |
Consumer | Loans collateralized by securities | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 4 | 43 |
Consumer | Loans collateralized by securities | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1 | 4 |
Consumer | Loans collateralized by securities | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 4 | 3 |
Consumer | Loans collateralized by securities | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 284 | 281 |
Consumer | Consumer finance | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 5,863 | 5,685 |
Consumer | Consumer finance | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 5,403 | 5,147 |
Consumer | Consumer finance | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 460 | 538 |
Consumer | Consumer finance | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 232 | 248 |
Consumer | Consumer finance | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 14 | 82 |
Consumer | Consumer finance | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 56 | 63 |
Consumer | Consumer finance | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 158 | 145 |
Total loans to third parties | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 246,880 | 258,229 |
Total loans to third parties | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 243,837 | 255,352 |
Total loans to third parties | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 3,043 | 2,877 |
Total loans to third parties | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 958 | 789 |
Total loans to third parties | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 468 | 220 |
Total loans to third parties | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 209 | 98 |
Total loans to third parties | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,408 | 1,770 |
Total loans to entities under common control | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Total | 1,459 | 3,950 |
Total loans to entities under common control | Financial Asset, Not Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 1,459 | 3,950 |
Total loans to entities under common control | Financial Asset, Past Due [Member] | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Total loans to entities under common control | Past due up to 30 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Total loans to entities under common control | Past due 31 - 60 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Total loans to entities under common control | Past due 61 - 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | 0 | 0 |
Total loans to entities under common control | Past due more than 90 days | ||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | ||
Gross loans held at amortized cost | SFr 0 | SFr 0 |
CECL (Details 8)
CECL (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Financial Asset, Past Due [Member] | ||
Debt Securities Held-To-Maturity, Amortized Cost, Past Due [Line Items] | ||
Total debt securities held-to-maturity, amortized cost | SFr 0 | SFr 0 |
CECL (Details 9)
CECL (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Other financial assets held at amortized cost, past due | SFr 0 | SFr 0 |
Other financial assets held at amortized cost, total | SFr 1,455 | SFr 1,765 |
CECL (Details 10)
CECL (Details 10) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | SFr 31,489 | SFr 49,483 | |
Origination in current year-1 | 30,029 | 47,577 | |
Origination in current year-2 | 39,242 | 24,985 | |
Origination in current year-3 | 22,104 | 17,950 | |
Origination in current year-4 | 15,999 | 11,207 | |
Origination in current year-5 or more | 50,494 | 43,642 | |
Total term loans | 189,357 | 194,844 | |
Revolving loans | 57,523 | 63,385 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 248,339 | 262,179 | |
Gross write-offs | (79) | SFr (95) | |
Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (24) | ||
Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (12) | ||
Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (19) | ||
Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (18) | ||
Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (73) | ||
Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (6) | ||
Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 20,506 | 31,284 | |
Origination in current year-1 | 20,562 | 37,658 | |
Origination in current year-2 | 31,596 | 19,524 | |
Origination in current year-3 | 17,940 | 13,408 | |
Origination in current year-4 | 12,167 | 8,667 | |
Origination in current year-5 or more | 44,604 | 38,301 | |
Total term loans | 147,375 | 148,842 | |
Revolving loans | 46,296 | 51,661 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 195,097 | 204,423 | |
Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 10,750 | 17,825 | |
Origination in current year-1 | 9,198 | 9,647 | |
Origination in current year-2 | 7,483 | 5,245 | |
Origination in current year-3 | 3,902 | 4,261 | |
Origination in current year-4 | 3,662 | 2,326 | |
Origination in current year-5 or more | 5,382 | 4,857 | |
Total term loans | 40,377 | 44,161 | |
Revolving loans | 10,350 | 10,875 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 50,760 | 55,066 | |
Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 233 | 374 | |
Origination in current year-1 | 269 | 272 | |
Origination in current year-2 | 163 | 216 | |
Origination in current year-3 | 262 | 281 | |
Origination in current year-4 | 170 | 214 | |
Origination in current year-5 or more | 508 | 484 | |
Total term loans | 1,605 | 1,841 | |
Revolving loans | 877 | 849 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,482 | 2,690 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 22,801 | 31,172 | |
Origination in current year-1 | 14,712 | 21,633 | |
Origination in current year-2 | 16,087 | 9,436 | |
Origination in current year-3 | 8,216 | 6,084 | |
Origination in current year-4 | 4,805 | 3,743 | |
Origination in current year-5 or more | 9,732 | 5,847 | |
Total term loans | 76,353 | 77,915 | |
Revolving loans | 28,686 | 29,506 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 105,039 | 107,421 | |
Gross write-offs | (44) | (69) | |
Corporate and institutional | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (5) | ||
Corporate and institutional | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (12) | ||
Corporate and institutional | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (19) | ||
Corporate and institutional | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (2) | ||
Corporate and institutional | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (38) | ||
Corporate and institutional | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (6) | ||
Corporate and institutional | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,273 | 16,086 | |
Origination in current year-1 | 7,266 | 13,885 | |
Origination in current year-2 | 10,290 | 6,041 | |
Origination in current year-3 | 5,422 | 3,224 | |
Origination in current year-4 | 2,548 | 2,016 | |
Origination in current year-5 or more | 6,230 | 2,959 | |
Total term loans | 45,029 | 44,211 | |
Revolving loans | 20,827 | 21,091 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 65,856 | 65,302 | |
Corporate and institutional | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 9,312 | 14,728 | |
Origination in current year-1 | 7,204 | 7,536 | |
Origination in current year-2 | 5,707 | 3,213 | |
Origination in current year-3 | 2,623 | 2,664 | |
Origination in current year-4 | 2,169 | 1,564 | |
Origination in current year-5 or more | 3,214 | 2,658 | |
Total term loans | 30,229 | 32,363 | |
Revolving loans | 7,328 | 7,902 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 37,557 | 40,265 | |
Corporate and institutional | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 216 | 358 | |
Origination in current year-1 | 242 | 212 | |
Origination in current year-2 | 90 | 182 | |
Origination in current year-3 | 171 | 196 | |
Origination in current year-4 | 88 | 163 | |
Origination in current year-5 or more | 288 | 230 | |
Total term loans | 1,095 | 1,341 | |
Revolving loans | 531 | 513 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,626 | 1,854 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,870 | 6,105 | |
Origination in current year-1 | 4,066 | 9,442 | |
Origination in current year-2 | 7,342 | 3,930 | |
Origination in current year-3 | 3,604 | 1,312 | |
Origination in current year-4 | 1,213 | 918 | |
Origination in current year-5 or more | 2,930 | 2,350 | |
Total term loans | 22,025 | 24,057 | |
Revolving loans | 959 | 1,100 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 22,984 | 25,157 | |
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Real estate | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,481 | 3,601 | |
Origination in current year-1 | 2,538 | 7,001 | |
Origination in current year-2 | 5,422 | 3,071 | |
Origination in current year-3 | 2,726 | 959 | |
Origination in current year-4 | 909 | 698 | |
Origination in current year-5 or more | 2,522 | 2,109 | |
Total term loans | 15,598 | 17,439 | |
Revolving loans | 502 | 694 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 16,100 | 18,133 | |
Corporate and institutional | Real estate | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,358 | 2,499 | |
Origination in current year-1 | 1,405 | 2,441 | |
Origination in current year-2 | 1,920 | 855 | |
Origination in current year-3 | 873 | 297 | |
Origination in current year-4 | 263 | 219 | |
Origination in current year-5 or more | 384 | 217 | |
Total term loans | 6,203 | 6,528 | |
Revolving loans | 309 | 281 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,512 | 6,809 | |
Corporate and institutional | Real estate | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 31 | 5 | |
Origination in current year-1 | 123 | 0 | |
Origination in current year-2 | 0 | 4 | |
Origination in current year-3 | 5 | 56 | |
Origination in current year-4 | 41 | 1 | |
Origination in current year-5 or more | 24 | 24 | |
Total term loans | 224 | 90 | |
Revolving loans | 148 | 125 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 372 | 215 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,163 | 19,302 | |
Origination in current year-1 | 8,523 | 7,992 | |
Origination in current year-2 | 6,240 | 4,239 | |
Origination in current year-3 | 3,444 | 4,055 | |
Origination in current year-4 | 3,140 | 2,246 | |
Origination in current year-5 or more | 5,403 | 4,178 | |
Total term loans | 39,913 | 42,012 | |
Revolving loans | 15,903 | 17,354 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 55,816 | 59,366 | |
Gross write-offs | (43) | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (5) | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (12) | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (19) | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Commercial and industrial loans | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (2) | ||
Corporate and institutional | Commercial and industrial loans | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (38) | ||
Corporate and institutional | Commercial and industrial loans | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (5) | ||
Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,766 | 7,858 | |
Origination in current year-1 | 3,208 | 3,576 | |
Origination in current year-2 | 2,791 | 1,810 | |
Origination in current year-3 | 1,604 | 1,566 | |
Origination in current year-4 | 1,203 | 742 | |
Origination in current year-5 or more | 2,360 | 1,619 | |
Total term loans | 16,932 | 17,171 | |
Revolving loans | 9,408 | 10,277 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 26,340 | 27,448 | |
Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,253 | 11,181 | |
Origination in current year-1 | 5,198 | 4,204 | |
Origination in current year-2 | 3,359 | 2,251 | |
Origination in current year-3 | 1,674 | 2,359 | |
Origination in current year-4 | 1,901 | 1,343 | |
Origination in current year-5 or more | 2,781 | 2,355 | |
Total term loans | 22,166 | 23,693 | |
Revolving loans | 6,208 | 6,799 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 28,374 | 30,492 | |
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 144 | 263 | |
Origination in current year-1 | 117 | 212 | |
Origination in current year-2 | 90 | 178 | |
Origination in current year-3 | 166 | 130 | |
Origination in current year-4 | 36 | 161 | |
Origination in current year-5 or more | 262 | 204 | |
Total term loans | 815 | 1,148 | |
Revolving loans | 287 | 278 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,102 | 1,426 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 6,686 | 5,596 | |
Origination in current year-1 | 1,677 | 3,706 | |
Origination in current year-2 | 2,373 | 1,101 | |
Origination in current year-3 | 1,011 | 609 | |
Origination in current year-4 | 344 | 524 | |
Origination in current year-5 or more | (868) | ||
Origination in current year-5 or more | 1,207 | ||
Total term loans | 13,298 | 10,668 | |
Revolving loans | 11,813 | 11,043 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 25,111 | 21,711 | |
Gross write-offs | (1) | ||
Corporate and institutional | Financial institutions | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Financial institutions | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (1) | ||
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,964 | 4,480 | |
Origination in current year-1 | 1,078 | 2,850 | |
Origination in current year-2 | 1,976 | 1,034 | |
Origination in current year-3 | 968 | 602 | |
Origination in current year-4 | 340 | 521 | |
Origination in current year-5 or more | (940) | ||
Origination in current year-5 or more | 1,166 | ||
Total term loans | 11,492 | 8,547 | |
Revolving loans | 10,907 | 10,111 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 22,399 | 18,658 | |
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 681 | 1,026 | |
Origination in current year-1 | 597 | 856 | |
Origination in current year-2 | 397 | 67 | |
Origination in current year-3 | 43 | 7 | |
Origination in current year-4 | 4 | 2 | |
Origination in current year-5 or more | 40 | 71 | |
Total term loans | 1,762 | 2,029 | |
Revolving loans | 810 | 822 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,572 | 2,851 | |
Corporate and institutional | Financial institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 41 | 90 | |
Origination in current year-1 | 2 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 1 | |
Origination in current year-5 or more | 1 | 1 | |
Total term loans | 44 | 92 | |
Revolving loans | 96 | 110 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 140 | 202 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 82 | 169 | |
Origination in current year-1 | 446 | 493 | |
Origination in current year-2 | 132 | 166 | |
Origination in current year-3 | 157 | 108 | |
Origination in current year-4 | 108 | 55 | |
Origination in current year-5 or more | 192 | 187 | |
Total term loans | 1,117 | 1,178 | |
Revolving loans | 11 | 9 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,128 | 1,187 | |
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 62 | 147 | |
Origination in current year-1 | 442 | 458 | |
Origination in current year-2 | 101 | 126 | |
Origination in current year-3 | 124 | 97 | |
Origination in current year-4 | 96 | 55 | |
Origination in current year-5 or more | 182 | 171 | |
Total term loans | 1,007 | 1,054 | |
Revolving loans | 10 | 9 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,017 | 1,063 | |
Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 20 | 22 | |
Origination in current year-1 | 4 | 35 | |
Origination in current year-2 | 31 | 40 | |
Origination in current year-3 | 33 | 1 | |
Origination in current year-4 | 1 | 0 | |
Origination in current year-5 or more | 9 | 15 | |
Total term loans | 98 | 113 | |
Revolving loans | 1 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 99 | 113 | |
Corporate and institutional | Governments and public institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 10 | |
Origination in current year-4 | 11 | 0 | |
Origination in current year-5 or more | 1 | 1 | |
Total term loans | 12 | 11 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 12 | 11 | |
Consumer | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 8,688 | 18,311 | |
Origination in current year-1 | 15,317 | 25,944 | |
Origination in current year-2 | 23,155 | 15,549 | |
Origination in current year-3 | 13,888 | 11,866 | |
Origination in current year-4 | 11,194 | 7,464 | |
Origination in current year-5 or more | 40,762 | 37,795 | |
Total term loans | 113,004 | 116,929 | |
Revolving loans | 28,837 | 33,879 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 141,841 | 150,808 | |
Gross write-offs | (35) | SFr (26) | |
Consumer | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (19) | ||
Consumer | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (16) | ||
Consumer | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (35) | ||
Consumer | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,233 | 15,198 | |
Origination in current year-1 | 13,296 | 23,773 | |
Origination in current year-2 | 21,306 | 13,483 | |
Origination in current year-3 | 12,518 | 10,184 | |
Origination in current year-4 | 9,619 | 6,651 | |
Origination in current year-5 or more | 38,374 | 35,342 | |
Total term loans | 102,346 | 104,631 | |
Revolving loans | 25,469 | 30,570 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 127,815 | 135,201 | |
Consumer | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,438 | 3,097 | |
Origination in current year-1 | 1,994 | 2,111 | |
Origination in current year-2 | 1,776 | 2,032 | |
Origination in current year-3 | 1,279 | 1,597 | |
Origination in current year-4 | 1,493 | 762 | |
Origination in current year-5 or more | 2,168 | 2,199 | |
Total term loans | 10,148 | 11,798 | |
Revolving loans | 3,022 | 2,973 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 13,170 | 14,771 | |
Consumer | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 17 | 16 | |
Origination in current year-1 | 27 | 60 | |
Origination in current year-2 | 73 | 34 | |
Origination in current year-3 | 91 | 85 | |
Origination in current year-4 | 82 | 51 | |
Origination in current year-5 or more | 220 | 254 | |
Total term loans | 510 | 500 | |
Revolving loans | 346 | 336 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 856 | 836 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,528 | 14,049 | |
Origination in current year-1 | 13,319 | 23,068 | |
Origination in current year-2 | 20,688 | 13,999 | |
Origination in current year-3 | 13,245 | 11,367 | |
Origination in current year-4 | 10,813 | 7,295 | |
Origination in current year-5 or more | 39,696 | 36,666 | |
Total term loans | 103,289 | 106,444 | |
Revolving loans | 913 | 1,040 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 104,202 | 107,484 | |
Gross write-offs | (4) | ||
Consumer | Mortgages | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (4) | ||
Consumer | Mortgages | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (4) | ||
Consumer | Mortgages | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Mortgages | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,118 | 12,501 | |
Origination in current year-1 | 11,914 | 21,627 | |
Origination in current year-2 | 19,465 | 12,869 | |
Origination in current year-3 | 12,173 | 10,029 | |
Origination in current year-4 | 9,539 | 6,609 | |
Origination in current year-5 or more | 37,618 | 34,525 | |
Total term loans | 95,827 | 98,160 | |
Revolving loans | 187 | 229 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 96,014 | 98,389 | |
Consumer | Mortgages | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 394 | 1,540 | |
Origination in current year-1 | 1,394 | 1,396 | |
Origination in current year-2 | 1,167 | 1,111 | |
Origination in current year-3 | 996 | 1,271 | |
Origination in current year-4 | 1,209 | 650 | |
Origination in current year-5 or more | 1,910 | 1,931 | |
Total term loans | 7,070 | 7,899 | |
Revolving loans | 720 | 807 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 7,790 | 8,706 | |
Consumer | Mortgages | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 16 | 8 | |
Origination in current year-1 | 11 | 45 | |
Origination in current year-2 | 56 | 19 | |
Origination in current year-3 | 76 | 67 | |
Origination in current year-4 | 65 | 36 | |
Origination in current year-5 or more | 168 | 210 | |
Total term loans | 392 | 385 | |
Revolving loans | 6 | 4 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 398 | 389 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 751 | 1,114 | |
Origination in current year-1 | 406 | 1,877 | |
Origination in current year-2 | 1,671 | 1,028 | |
Origination in current year-3 | 201 | 178 | |
Origination in current year-4 | 151 | 41 | |
Origination in current year-5 or more | 860 | 991 | |
Total term loans | 4,040 | 5,229 | |
Revolving loans | 27,736 | 32,410 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 31,776 | 37,639 | |
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 291 | 562 | |
Origination in current year-1 | 321 | 1,496 | |
Origination in current year-2 | 1,341 | 307 | |
Origination in current year-3 | 101 | 35 | |
Origination in current year-4 | 1 | 16 | |
Origination in current year-5 or more | 730 | 803 | |
Total term loans | 2,785 | 3,219 | |
Revolving loans | 25,194 | 30,023 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 27,979 | 33,242 | |
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 460 | 552 | |
Origination in current year-1 | 85 | 381 | |
Origination in current year-2 | 330 | 721 | |
Origination in current year-3 | 100 | 143 | |
Origination in current year-4 | 150 | 25 | |
Origination in current year-5 or more | 130 | 188 | |
Total term loans | 1,255 | 2,010 | |
Revolving loans | 2,278 | 2,124 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,533 | 4,134 | |
Consumer | Loans collateralized by securities | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 0 | 0 | |
Revolving loans | 264 | 263 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 264 | 263 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,409 | 3,148 | |
Origination in current year-1 | 1,592 | 999 | |
Origination in current year-2 | 796 | 522 | |
Origination in current year-3 | 442 | 321 | |
Origination in current year-4 | 230 | 128 | |
Origination in current year-5 or more | 206 | 138 | |
Total term loans | 5,675 | 5,256 | |
Revolving loans | 188 | 429 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,863 | 5,685 | |
Gross write-offs | (31) | ||
Consumer | Consumer finance | Origination In Current Year | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (19) | ||
Consumer | Consumer finance | Origination In Current Year -1 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Consumer finance | Origination In Current Year -2 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Consumer finance | Origination In Current Year -3 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Consumer finance | Origination In Current Year -4 | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Consumer finance | Origination In Current Year -5 or more | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (12) | ||
Consumer | Consumer finance | Total term positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | (31) | ||
Consumer | Consumer finance | Revolving positions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Gross write-offs | 0 | ||
Consumer | Consumer finance | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,824 | 2,135 | |
Origination in current year-1 | 1,061 | 650 | |
Origination in current year-2 | 500 | 307 | |
Origination in current year-3 | 244 | 120 | |
Origination in current year-4 | 79 | 26 | |
Origination in current year-5 or more | 26 | 14 | |
Total term loans | 3,734 | 3,252 | |
Revolving loans | 88 | 318 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,822 | 3,570 | |
Consumer | Consumer finance | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 584 | 1,005 | |
Origination in current year-1 | 515 | 334 | |
Origination in current year-2 | 279 | 200 | |
Origination in current year-3 | 183 | 183 | |
Origination in current year-4 | 134 | 87 | |
Origination in current year-5 or more | 128 | 80 | |
Total term loans | 1,823 | 1,889 | |
Revolving loans | 24 | 42 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,847 | 1,931 | |
Consumer | Consumer finance | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 8 | |
Origination in current year-1 | 16 | 15 | |
Origination in current year-2 | 17 | 15 | |
Origination in current year-3 | 15 | 18 | |
Origination in current year-4 | 17 | 15 | |
Origination in current year-5 or more | 52 | 44 | |
Total term loans | 118 | 115 | |
Revolving loans | 76 | 69 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 194 | 184 | |
Total loans to third parties | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 246,880 | 258,229 | |
Gross write-offs | (79) | ||
Total loans to third parties | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 193,671 | 200,503 | |
Total loans to third parties | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 50,727 | 55,036 | |
Total loans to third parties | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,482 | 2,690 | |
Total loans to entities under common control | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,459 | 3,950 | |
Gross write-offs | 0 | ||
Total loans to entities under common control | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,426 | 3,920 | |
Total loans to entities under common control | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 33 | 30 | |
Total loans to entities under common control | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | SFr 0 | SFr 0 |
CECL (Details 12)
CECL (Details 12) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Origination in current year | SFr 0 | SFr 0 | |
Origination in current year-1 | 9 | 7 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 47 | |
Origination 5 years or more | 29 | 0 | |
Total term positions | 38 | 54 | |
Revolving positions | 1,417 | 1,711 | |
Other financial assets held at amortized cost, total | 1,455 | 1,765 | |
Other financial assets, Gross write-offs | (4,031) | SFr (4) | |
Origination In Current Year | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Origination In Current Year -1 | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Origination In Current Year -2 | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Origination In Current Year -3 | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Origination In Current Year -4 | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Origination In Current Year -5 or more | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Total term positions | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Revolving positions | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Financing receivable, before Allowance for Credit Loss and Fee | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other financial assets, Gross write-offs | 0 | ||
Investment grade | AAA to BBB | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination 5 years or more | 0 | 0 | |
Total term positions | 0 | 0 | |
Revolving positions | 0 | 0 | |
Other financial assets held at amortized cost, total | 0 | 0 | |
Non-investment grade | BB to C | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 9 | 7 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 47 | |
Origination 5 years or more | 29 | 0 | |
Total term positions | 38 | 54 | |
Revolving positions | 1,417 | 1,711 | |
Other financial assets held at amortized cost, total | 1,455 | 1,765 | |
Non-investment grade | D | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination 5 years or more | 0 | 0 | |
Total term positions | 0 | 0 | |
Revolving positions | 0 | 0 | |
Other financial assets held at amortized cost, total | SFr 0 | SFr 0 |
CECL (Details 14)
CECL (Details 14) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 CHF (SFr) year | Jun. 30, 2022 CHF (SFr) contract | |
Restructured loans | ||
Restructured loans, Modifications, Number of contracts | contract | 12 | |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 299 | |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 257 | |
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 301.2 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.12% | |
PF Principal Forgiveness [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 1 | |
Financing Receivable Troubled Debt Restructuring Decrease From Modification | 18.9 | |
IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 24.2 | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1.76% | |
TE Term Extension [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 214.3 | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 0.93 | |
Consumer | Mortgages | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 49.9 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.05% | |
Consumer | Mortgages | PF Principal Forgiveness [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 0.6 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Financing Receivable Troubled Debt Restructuring Decrease From Modification | SFr 11.7 | |
Consumer | Mortgages | IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 3.6 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1.28% | |
Consumer | Mortgages | TE Term Extension [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 45.7 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.04% | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 0.09 | |
Consumer | Loans collateralized by securities | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 4.7 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.01% | |
Consumer | Loans collateralized by securities | IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 4.7 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.01% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1.98% | |
Consumer | Consumer finance | IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 0 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 2.71% | |
Corporate and institutional | Real estate | ||
Restructured loans | ||
Restructured loans, Modifications, Number of contracts | contract | 1 | |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 102 | |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 82 | |
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 65.1 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.28% | |
Corporate and institutional | Real estate | IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 1.2 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.01% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1.50% | |
Corporate and institutional | Real estate | TE Term Extension [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 63.9 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.28% | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 1.25 | |
Corporate and institutional | Commercial and industrial loans | ||
Restructured loans | ||
Restructured loans, Modifications, Number of contracts | contract | 11 | |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 197 | |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 175 | |
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 180.3 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.32% | |
Corporate and institutional | Commercial and industrial loans | PF Principal Forgiveness [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 0.4 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Financing Receivable Troubled Debt Restructuring Decrease From Modification | SFr 7.2 | |
Corporate and institutional | Commercial and industrial loans | IRR Interest Rate Reduction [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 14.7 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.03% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 1.84% | |
Corporate and institutional | Commercial and industrial loans | TE Term Extension [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 103.5 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.19% | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 1.10 | |
Corporate and institutional | Commercial and industrial loans | OtIPD Payment Deferral [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 14.4 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.03% | |
Financing Receivable Troubled Debt Restructuring Amortized Cost Amount Of Payment Deferral From Modification | SFr 3.3 | |
Corporate and institutional | Commercial and industrial loans | Co4_IRR and TE [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 9.7 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.02% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 0.10% | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 0.87 | |
Corporate and institutional | Commercial and industrial loans | Co6_TE and OtIPD [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 37.6 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0.07% | |
Financing Receivable Troubled Debt Restructuring Amortized Cost Amount Of Payment Deferral From Modification | SFr 22 | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 2.72 | |
Corporate and institutional | Financial institutions | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 1.2 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Corporate and institutional | Financial institutions | TE Term Extension [Member] | ||
Restructured loans | ||
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount | SFr 1.2 | |
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage | 0% | |
Financing Receivable Modified Weighted Average Term Increase From Modification | year | 0.58 |
CECL (Details 15)
CECL (Details 15) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Number of Macroeconomic Scenarios | 3 | |
Number of Macroeconomic Factors | 37 | |
Scenario, Macroeconomic scenario, Downside [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Macroeconomic Scenario Probability, in percent | 40% | |
Scenario, Macroeconomic scenario, Mild Downside [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Macroeconomic Scenario Probability, in percent | 15% | |
Scenario, Macroeconomic scenario, Severe Downside [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Macroeconomic Scenario Probability, in percent | 25% | |
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (1.70%) | |
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.90%) | |
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0% | |
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.40% | |
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (6.80%) | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.40% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.70% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.70% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.80% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (2.00%) | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (1.20%) | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.40% | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.40% | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 5.30% | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (4.50%) | |
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.50% | |
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.10% | |
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1% | |
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.30% | |
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.40% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.70%) | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.40% | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.90%) | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.70%) | |
Scenario, Macroeconomic scenario, Mild Downside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (2.00%) | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (3.00%) | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.90%) | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.60% | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.90% | |
Scenario, Macroeconomic scenario, Severe Downside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (1.40%) | |
Scenario, Macroeconomic scenario, Baseline [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Macroeconomic Scenario Probability, in percent | 60% | 50% |
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.70% | 0.90% |
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 5.20% | 4.50% |
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.30% | 2.70% |
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 4.10% | 5.20% |
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.20% | 1.20% |
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.30% | 1.50% |
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 4.70% | 4.90% |
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.70% | 2% |
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.70% | 4.10% |
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.30% | 1.90% |
Scenario, Macroeconomic scenario, Upside [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Macroeconomic Scenario Probability, in percent | 10% | |
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.20% | |
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 6.20% | |
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.20% | |
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 5.50% | |
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.90% | |
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2% | |
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | CHINA [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 5.80% | |
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.10% | |
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Nominal GDP growth rate (%YoY) [Member] | European Union (EU) [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.80% | |
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.90% |
CECL (Details 16)
CECL (Details 16) SFr in Millions | 6 Months Ended |
Jun. 30, 2022 CHF (SFr) | |
Other financial assets, held at amortized cost, Allowance for Credit Loss [Line Items] | |
Purchases | SFr 381 |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Gross amount of goodwill | |||
Balance at beginning of period | SFr 7,758 | ||
Foreign currency translation impact | (50) | ||
Other | 0 | ||
Balance at end of period | 7,708 | ||
Accumulated impairment | |||
Balance at beginning of period | 4,890 | ||
Goodwill impairment | 2,346 | SFr 23 | |
Balance at end of period | 7,236 | ||
Net book value | |||
Net book value | 472 | SFr 2,868 | |
Operating Segments | Wealth Management | |||
Gross amount of goodwill | |||
Balance at beginning of period | 1,281 | ||
Foreign currency translation impact | (10) | ||
Other | 0 | ||
Balance at end of period | 1,271 | ||
Accumulated impairment | |||
Balance at beginning of period | 0 | ||
Goodwill impairment | 1,271 | ||
Balance at end of period | 1,271 | ||
Net book value | |||
Net book value | 0 | ||
Operating Segments | Investment Bank | |||
Gross amount of goodwill | |||
Balance at beginning of period | 4,878 | ||
Foreign currency translation impact | 0 | ||
Other | 30 | ||
Balance at end of period | 4,908 | ||
Accumulated impairment | |||
Balance at beginning of period | 4,878 | ||
Goodwill impairment | 30 | ||
Balance at end of period | 4,908 | ||
Net book value | |||
Net book value | 0 | ||
Operating Segments | Swiss Bank | |||
Gross amount of goodwill | |||
Balance at beginning of period | 481 | ||
Foreign currency translation impact | (9) | ||
Other | 0 | ||
Balance at end of period | 472 | ||
Accumulated impairment | |||
Balance at beginning of period | 0 | ||
Goodwill impairment | 0 | ||
Balance at end of period | 0 | ||
Net book value | |||
Net book value | 472 | ||
Operating Segments | Asset Management | |||
Gross amount of goodwill | |||
Balance at beginning of period | 1,106 | ||
Foreign currency translation impact | (31) | ||
Other | (30) | ||
Balance at end of period | 1,045 | ||
Accumulated impairment | |||
Balance at beginning of period | 0 | ||
Goodwill impairment | 1,045 | ||
Balance at end of period | 1,045 | ||
Net book value | |||
Net book value | 0 | ||
Operating Segments | Strategic Resolution Unit (old) | |||
Gross amount of goodwill | |||
Balance at end of period | 12 | ||
Adjustments | Wealth Management | |||
Accumulated impairment | |||
Goodwill impairment | 23 | ||
Adjustments | Asset Management | |||
Accumulated impairment | |||
Goodwill impairment | SFr 6 |
Other assets and other liabil_3
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Other assets | ||||
Cash collateral on derivative instruments | SFr 5,917 | SFr 7,723 | ||
Cash collateral on non-derivative transactions | 505 | 647 | ||
Derivative instruments used for hedging | 59 | 0 | ||
Assets held-for-sale | 8,249 | 16,112 | ||
of which loans | 8,222 | 16,090 | ||
allowance for loans held-for-sale | (269) | (101) | ||
of which real estate | 26 | 22 | ||
of which long-lived assets | 1 | 0 | ||
Premises, equipment and right-of-use assets | 3,684 | 5,799 | ||
Assets held for separate accounts | 62 | 64 | ||
Interest and fees receivable | 2,379 | 2,609 | ||
Deferred tax assets | 83 | 259 | ||
Prepaid expenses | 863 | 812 | ||
of which cloud computing arrangement implementation costs | 27 | 65 | ||
Failed purchases | 569 | 801 | ||
Defined benefit pension and post-retirement plan assets | 538 | 560 | ||
Other | 4,996 | 6,367 | ||
of which digital asset safeguarding assets | 118 | 102 | ||
Other assets | 27,904 | 41,753 | ||
Other liabilities | ||||
Cash collateral on derivative instruments | 1,046 | 2,079 | ||
Cash collateral on non-derivative transactions | 332 | 431 | ||
Derivative instruments used for hedging | 16 | 154 | ||
Operating Lease, Liability | 1,603 | 1,749 | ||
Provisions | 2,727 | 1,494 | ||
of which off-balance sheet risk | 207 | 217 | ||
Restructuring liabilities | 51 | 114 | SFr 29 | SFr 19 |
Liabilities held for separate accounts | 62 | 64 | ||
Interest and fees payable | 3,867 | 3,779 | ||
Current tax liabilities | 517 | 524 | ||
Deferred tax liabilities | 178 | 670 | ||
Failed sales | 864 | 1,471 | ||
Defined benefit pension and post-retirement plan liabilities | 255 | 258 | ||
Other | 3,790 | 4,039 | ||
of which digital asset safeguarding liabilities | 118 | 102 | ||
Other liabilities | 15,308 | 16,826 | ||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 272 | 458 | ||
Foreclosed or repossessed real estate | 26 | 21 | ||
Foreclosed or repossessed residential real estate | 26 | 21 | ||
Other assets, held at amortized cost, Allowance for Credit Loss | SFr 39 | SFr 37 |
Other assets and other liabil_4
Other assets and other liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Right-of-use assets [Abstract] | ||
Premises, equipment and right-of-use assets | SFr 3,684 | SFr 5,799 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | SFr (15,067) | |
Balance at end of period | (19,900) | |
Gains/(losses) on cash flow hedges | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (1,317) | SFr (95) |
Increase/(decrease) | 289 | (727) |
Reclassification adjustments, included in net income | (82) | (121) |
Total increase/(decrease) | 207 | (848) |
Balance at end of period | (1,110) | (943) |
Cumulative translation adjustments | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (17,020) | (16,760) |
Increase/(decrease) | (1,072) | 934 |
Reclassification adjustments, included in net income | 59 | 0 |
Total increase/(decrease) | (1,013) | 934 |
Balance at end of period | (18,033) | (15,826) |
Unrealized gains/(losses) on securities | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (13) | 13 |
Increase/(decrease) | 1 | (6) |
Reclassification adjustments, included in net income | 0 | 0 |
Total increase/(decrease) | 1 | (6) |
Balance at end of period | (12) | 7 |
Actuarial gains/(losses) | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (582) | (429) |
Increase/(decrease) | (47) | 0 |
Reclassification adjustments, included in net income | 3 | 4 |
Total increase/(decrease) | (44) | 4 |
Balance at end of period | (626) | (425) |
Net prior service credit/ (cost) | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (9) | (6) |
Increase/(decrease) | 0 | (1) |
Reclassification adjustments, included in net income | 1 | 1 |
Total increase/(decrease) | 1 | 0 |
Balance at end of period | (8) | (6) |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | 3,874 | (2,082) |
Increase/(decrease) | 3,746 | 3,516 |
Reclassification adjustments, included in net income | (7,731) | 17 |
Reclassification from accumulated other comprehensive income current period impact write down additional tier 1 capital income tax expense benefit | 1,440 | |
Reclassification from accumulated other comprehensive income, current period, write down additional tier 1 capital gross of tax | (9,048) | |
Total increase/(decrease) | (3,985) | 3,533 |
Balance at end of period | (111) | 1,451 |
Accumulated other comprehensive income | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
Balance at beginning of period | (15,067) | (19,359) |
Increase/(decrease) | 2,917 | 3,716 |
Reclassification adjustments, included in net income | (7,750) | (99) |
Total increase/(decrease) | (4,833) | 3,617 |
Balance at end of period | SFr (19,900) | SFr (15,742) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | Jun. 30, 2023 | Dec. 31, 2022 | |
Treasury shares | |||
Common shares outstanding | [1] | 4,399,680,200 | 4,399,680,200 |
Par value (in CHF per share) | [1] | SFr 1 | SFr 1 |
[1]The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2023. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
AOCI - Significant reclassifica
AOCI - Significant reclassification adjustments (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Reclassification adjustments, included in net income | ||
Income tax expense/(benefit) | SFr 765 | SFr 221 |
Gains/(losses) on cash flow hedges | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | (82) | (121) |
Gains/(losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income, before tax | (94) | (156) |
Income tax expense/(benefit) | 12 | 35 |
Cumulative translation adjustments | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | 59 | 0 |
Unrealized gains/(losses) on securities | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | 0 | 0 |
Accumulated other comprehensive income | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | (7,750) | (99) |
Net prior service credit/ (cost) | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | 1 | 1 |
Actuarial gains/(losses) | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | 3 | 4 |
Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income, before tax | (6) | 5 |
Income tax expense/(benefit) | 9 | (1) |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income | (7,731) | 17 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification adjustments, included in net income | ||
Reclassification adjustments, included in net income, before tax | (9,171) | 17 |
Income tax expense/(benefit) | SFr 1,440 | SFr 0 |
Offsetting of financial asset_3
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 65,800 | SFr 85,800 |
Offsetting | (60,400) | (78,000) |
of which counterparty netting | (52,900) | (68,300) |
of which cash collateral netting | (7,500) | (9,700) |
Total net derivatives subject to enforceable master netting agreements | 5,400 | 7,800 |
Total derivatives not subject to enforceable master netting agreements | 2,300 | 3,300 |
Total net derivatives presented in the consolidated balance sheets | 7,700 | 11,100 |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | ||
Securities purchased under resale agreements, gross | 36,900 | 47,900 |
Securities purchased under resale agreements, offsetting | (5,500) | (10,700) |
Securities purchased under resale agreements, net | 31,400 | 37,200 |
Securities borrowing transactions, gross | 3,000 | 4,500 |
Securities borrowing transactions, offsetting | 0 | 0 |
Securities borrowing transactions, net | 3,000 | 4,500 |
Total subject to enforceable master netting agreements, gross | 39,900 | 52,400 |
Total subject to enforceable master netting agreements, offsetting | (5,500) | (10,700) |
Total subject to enforceable master netting agreements, net | 34,400 | 41,700 |
Total not subject to enforceable master netting agreements | 18,400 | 17,100 |
Total, gross | 58,300 | 69,500 |
Total, net | 52,800 | 58,800 |
of which reported at fair value | 31,683 | 40,793 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 5,400 | 7,800 |
Derivatives, financial instruments | 2,100 | 3,200 |
Derivatives, cash collateral received/pledged | 0 | 0 |
Derivatives, net exposure | 3,300 | 4,600 |
Securities purchased under resale agreements, net | 31,400 | 37,200 |
Securities purchased under resale agreements, financial instruments | 31,400 | 37,100 |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 100 |
Securities purchased under resale agreements, net exposure | 0 | 0 |
Securities borrowing transactions, net | 3,000 | 4,500 |
Securities borrowing transactions, financial instruments | 2,900 | 4,300 |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 |
Securities borrowing transactions, net exposure | 100 | 200 |
Total financial assets subject to enforceable master netting agreements, net | 39,800 | 49,500 |
Total financial assets subject to enforceable master netting agreements, financial instruments | 36,400 | 44,600 |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 |
Total financial assets subject to enforceable master netting agreements, net exposure | 3,400 | 4,800 |
Cash collateral - netted | ||
Cash collateral paid | 9,813 | 11,924 |
Trading assets | ||
Offsetting of derivatives | ||
Total net derivatives presented in the consolidated balance sheets | 7,600 | 11,100 |
Other assets | ||
Offsetting of derivatives | ||
Total net derivatives presented in the consolidated balance sheets | 100 | 0 |
OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 7,400 | 9,600 |
Offsetting | (7,400) | (9,500) |
Total net derivatives subject to enforceable master netting agreements | 0 | 100 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 0 | 100 |
OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 42,100 | 57,600 |
Offsetting | (37,500) | (50,500) |
Total net derivatives subject to enforceable master netting agreements | 4,600 | 7,100 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 4,600 | 7,100 |
Exchange-traded | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 16,300 | 18,600 |
Offsetting | (15,500) | (18,000) |
Total net derivatives subject to enforceable master netting agreements | 800 | 600 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 800 | 600 |
Interest rate derivatives | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 26,300 | 33,700 |
Interest rate derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 6,800 | 8,600 |
Interest rate derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 19,500 | 25,100 |
Foreign exchange derivatives | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 15,700 | 25,200 |
Foreign exchange derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 300 |
Foreign exchange derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 15,500 | 24,900 |
Foreign exchange derivatives | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 0 |
Equity/index-related derivatives | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 20,900 | 22,900 |
Equity/index-related derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 0 |
Equity/index-related derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 4,600 | 4,300 |
Equity/index-related derivatives | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 16,200 | 18,600 |
Credit derivatives | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 2,100 | 3,000 |
Credit derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 300 | 600 |
Credit derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 1,800 | 2,400 |
Other products | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 800 | 1,000 |
Other products | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 100 |
Other products | OTC | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 900 |
Other products | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 100 | SFr 0 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 69,100 | SFr 88,300 |
Offsetting | (64,300) | (81,800) |
of which counterparty netting | (52,900) | (68,300) |
of which cash collateral netting | (11,400) | (13,500) |
Total net derivatives subject to enforceable master netting agreements | 4,800 | 6,500 |
Total derivatives not subject to enforceable master netting agreements | 1,900 | 2,600 |
Total net derivatives presented in the consolidated balance sheets | 6,700 | 9,100 |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | ||
Securities sold under repurchase agreements, gross | 7,100 | 27,800 |
Securities sold under repurchase agreements, offsetting | (5,500) | (10,700) |
Securities sold under repurchase agreements, net | 1,600 | 17,100 |
Securities lending transactions, gross | 100 | 900 |
Securities lending transactions, offsetting | 0 | 0 |
Securities lending transactions, net | 100 | 900 |
Obligation to return securities received as collateral, at fair value, gross | 2,200 | 2,900 |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 |
Obligation to return securities received as collateral, at fair value, net | 2,200 | 2,900 |
Total subject to enforceable master netting agreements, gross | 9,400 | 31,600 |
Total subject to enforceable master netting agreements, offsetting | (5,500) | (10,700) |
Total subject to enforceable master netting agreements, net | 3,900 | 20,900 |
Total not subject to enforceable master netting agreements | 1,200 | 2,500 |
Total, gross | 10,600 | 34,100 |
Total, net | 5,100 | 23,400 |
of which reported at fair value | 1,330 | 14,133 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 4,800 | 6,500 |
Derivatives, financial instruments | 1,000 | 1,200 |
Derivatives, cash collateral received/pledged | 0 | 0 |
Derivatives, net exposure | 3,800 | 5,300 |
Securities sold under repurchase agreements, net | 1,600 | 17,100 |
Securities sold under repurchase agreements, financial instruments | 1,600 | 17,100 |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 |
Securities sold under repurchase agreements, net exposure | 0 | 0 |
Securities lending transactions, net | 100 | 900 |
Securities lending transactions, financial instruments | 100 | 800 |
Securities lending transactions, cash collateral received/pledged | 0 | 0 |
Securities lending transactions, net exposure | 0 | 100 |
Obligation to return securities received as collateral, at fair value, net | 2,200 | 2,900 |
Obligation to return securities received as collateral, financial instruments | 2,000 | 2,700 |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 |
Obligation to return securities received as collateral, at fair value, net exposure | 200 | 200 |
Total financial liabilities subject to enforceable master netting agreements, net | 8,700 | 27,400 |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 4,700 | 21,800 |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 4,000 | 5,600 |
Trading liabilities | ||
Offsetting of derivatives | ||
Total net derivatives presented in the consolidated balance sheets | 6,700 | 8,900 |
Other liabilities | ||
Offsetting of derivatives | ||
Total net derivatives presented in the consolidated balance sheets | 0 | 200 |
Securities sold under repurchase agreements and securities | ||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | ||
Total subject to enforceable master netting agreements, offsetting | (5,500) | (10,700) |
Total, gross | 8,400 | 31,100 |
Total, net | 2,900 | 20,400 |
Obligation to return securities received as collateral | ||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | ||
Total subject to enforceable master netting agreements, offsetting | 0 | 0 |
Total, gross | 2,200 | 3,000 |
Total, net | 2,200 | 3,000 |
OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 8,600 | 10,800 |
Offsetting | (8,600) | (10,700) |
Total net derivatives subject to enforceable master netting agreements | 0 | 100 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 0 | 100 |
OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 45,200 | 59,100 |
Offsetting | (40,400) | (52,900) |
Total net derivatives subject to enforceable master netting agreements | 4,800 | 6,200 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 4,800 | 6,200 |
Exchange-traded | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 15,300 | 18,400 |
Offsetting | (15,300) | (18,200) |
Total net derivatives subject to enforceable master netting agreements | 0 | 200 |
Amounts not offset in the consolidated balance sheets | ||
Derivatives, net | 0 | 200 |
Interest rate derivatives | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,900 | 33,300 |
Interest rate derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 8,000 | 9,800 |
Interest rate derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 18,900 | 23,500 |
Foreign exchange derivatives | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 16,600 | 25,900 |
Foreign exchange derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 300 |
Foreign exchange derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 16,400 | 25,500 |
Foreign exchange derivatives | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 100 |
Equity/index-related derivatives | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,800 | 25,400 |
Equity/index-related derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 0 |
Equity/index-related derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,400 | 7,100 |
Equity/index-related derivatives | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 15,300 | 18,300 |
Credit derivatives | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 2,600 | 3,200 |
Credit derivatives | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 300 | 600 |
Credit derivatives | OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 2,300 | 2,600 |
Other products | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 500 |
Other products | OTC-cleared | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 100 |
Other products | OTC | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 400 |
Other products | Exchange-traded | ||
Offsetting of derivatives | ||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 0 | SFr 0 |
Tax - Income statement related_
Tax - Income statement related/reconciliation of tax rate (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income from continuing operations before taxes (CHF) | ||
Income/(loss) before taxes | SFr 2,939 | SFr (1,754) |
Current and deferred taxes | ||
Deferred income tax expense | 331 | (48) |
Income tax expense | 765 | 221 |
Of which impact from geographical mix of results adjusted by certain non-deductible expenses | 233 | |
Of which reassessment of DTA/DTL | 448 | |
Increase/(decrease) in income taxes resulting from: | ||
Income tax expense | SFr 765 | SFr 221 |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Tax effect of temporary differences | ||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 12 | SFr 138 |
Net deferred tax assets | SFr (95) | SFr (411) |
Tax - Net deferred tax assets_l
Tax - Net deferred tax assets/liabilities by type (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Net deferred tax assets | ||
Deferred tax assets | SFr 83 | SFr 259 |
Net operating loss carry-forwards, after allocation of valuation allowances | 12 | 138 |
Temporary differences | 71 | 121 |
Deferred tax liabilities | 178 | 670 |
Deferred Tax Assets (Liabilities), Net | (95) | SFr (411) |
Increase (Decrease) Deferred Tax Assets | SFr 316 |
Pension and other post-retire_3
Pension and other post-retirement benefits - Obligation and funded status (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Total amount recognized | |||
Noncurrent assets | SFr 538 | SFr 560 | |
International | |||
Total benefit costs | |||
Service costs on benefit obligation | 6 | SFr 8 | |
Interest costs on benefit obligation | 48 | 30 | |
Expected return on plan assets | (66) | (33) | |
Amortization of recognized prior service cost/(credit) | 1 | 1 | |
Amortization of recognized actuarial losses/(gains) | (6) | 5 | |
Net periodic benefit/(costs) | (17) | 11 | |
PBO | |||
Service costs | 6 | 8 | |
Interest costs | 48 | SFr 30 | |
International | Defined benefit pension plans | |||
Pension and Other Postretirement Benefit Contributions | |||
Contributions expected to be made by the company by the end of the current fiscal year | 17 | ||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 9 | ||
International | Other post-retirement defined benefit plans | |||
Pension and Other Postretirement Benefit Contributions | |||
Contributions expected to be made by the company by the end of the current fiscal year | 12 | ||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | SFr 6 |
Pension and other post-retire_4
Pension and other post-retirement benefits - Contributions (Details 7) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure | ||
Contributions made by the Entity to defined contribution pension plans | SFr 222 | SFr 222 |
Pension and other post-retire_5
Pension and other post-retirement benefits (Details 11) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Actuarial gains/(losses) | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr (47) | SFr 0 |
Net prior service credit/ (cost) | ||
Increase (Decrease) in Accumulated other Comprehensive Income | ||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr (1) |
Derivatives and hedging activ_3
Derivatives and hedging activities - Fair value - balance sheet related (Details) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Fair value of derivative instruments | ||
Notional amount | SFr 12,110.1 | SFr 14,539.1 |
Positive replacement value (PRV) | 68.1 | 89.1 |
Negative replacement value (NRV) | SFr 71 | 90.9 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |
Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 11,952.8 | 14,391.3 |
Positive replacement value (PRV) | 67.9 | 88.9 |
Negative replacement value (NRV) | 69.3 | 88.9 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 10,299.6 | 12,053.7 |
Positive replacement value (PRV) | 26.4 | 34.2 |
Negative replacement value (NRV) | 25.6 | 32 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 2,196.6 | 2,088.2 |
Positive replacement value (PRV) | 0.1 | 1.7 |
Negative replacement value (NRV) | 0.1 | 1.7 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 7,405.9 | 9,140.3 |
Positive replacement value (PRV) | 19.9 | 24.3 |
Negative replacement value (NRV) | 18.8 | 21.7 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 554.2 | 644.4 |
Positive replacement value (PRV) | 6.4 | 8.2 |
Negative replacement value (NRV) | 6.7 | 8.6 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 142.1 | 144.9 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0.8 | 35.9 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 817.3 | 1,229.3 |
Positive replacement value (PRV) | 15.9 | 25.5 |
Negative replacement value (NRV) | 16.8 | 26.2 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 389.3 | 701.4 |
Positive replacement value (PRV) | 3.9 | 8.7 |
Negative replacement value (NRV) | 4 | 10 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 318.3 | 353.5 |
Positive replacement value (PRV) | 10 | 14.3 |
Negative replacement value (NRV) | 10.8 | 13.5 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 105 | 167.5 |
Positive replacement value (PRV) | 2 | 2.5 |
Negative replacement value (NRV) | 2 | 2.7 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 3 | 4.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 1.7 | 2.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 260.7 | 352 |
Positive replacement value (PRV) | 2.1 | 3.2 |
Negative replacement value (NRV) | 2.7 | 3.4 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 550.5 | 715.8 |
Positive replacement value (PRV) | 22.6 | 25 |
Negative replacement value (NRV) | 23.7 | 26.7 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0.1 | 0.3 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 17.6 | 22.8 |
Positive replacement value (PRV) | 0.9 | 0.9 |
Negative replacement value (NRV) | 0.4 | 0.7 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 145.5 | 181.4 |
Positive replacement value (PRV) | 5.4 | 5.2 |
Negative replacement value (NRV) | 7.9 | 7.5 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 13.6 | 42 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 373.7 | 469.3 |
Positive replacement value (PRV) | 16.3 | 18.9 |
Negative replacement value (NRV) | 15.4 | 18.5 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 24.7 | 40.5 |
Positive replacement value (PRV) | 0.9 | 1 |
Negative replacement value (NRV) | 0.5 | 0.6 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 5 | 6.9 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 6.7 | 9.5 |
Positive replacement value (PRV) | 0.6 | 0.7 |
Negative replacement value (NRV) | 0.3 | 0.4 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 7 | 8.8 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 3.1 | 12.6 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 2.9 | 2.7 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 157.3 | 147.8 |
Positive replacement value (PRV) | 0.2 | 0.2 |
Negative replacement value (NRV) | 1.7 | 2 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 129.8 | 130.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 1.7 | 1.8 |
Designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 129.8 | 130.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 1.7 | 1.8 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 27.5 | 17.7 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.2 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 27.5 | 17.7 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.2 |
Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | SFr 0 | SFr 0 |
Derivatives and hedging activ_4
Derivatives and hedging activities - Movements (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | ||
Derivative Instruments, Gain (Loss) | ||
Hedged items | SFr 392 | SFr 2,508 |
Derivatives designated as hedging instruments | (400) | (2,370) |
Cash flow hedges | ||
Derivative Instruments, Gain (Loss) | ||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (515) | |
Cash flow hedges | Interest rate derivatives | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 342 | (821) |
Cash flow hedges | Interest rate derivatives | Interest and dividend income [Member] | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 104 | 177 |
Cash flow hedges | Foreign exchange derivatives | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 17 | (50) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (10) | (22) |
Cash flow hedges | Foreign exchange derivatives | Other Expense [Member] | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (10) | (22) |
Net investment hedges | Foreign exchange derivatives | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (81) | (57) |
Net investment hedges | Foreign exchange derivatives | Other Income [Member] | ||
Derivative Instruments, Gain (Loss) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | SFr 4 | SFr 0 |
Derivatives and hedging activ_5
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2023 | Dec. 31, 2022 |
Contingent credit risk | ||
Current net exposure | SFr 1.2 | SFr 1.4 |
Collateral posted | 1 | 1.1 |
Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.5 |
Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.4 | 0.8 |
Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.8 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 1.1 | 1.2 |
Collateral posted | 0.9 | 1 |
Bilateral counterparties | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.4 |
Bilateral counterparties | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.4 | 0.5 |
Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.5 |
Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0.1 | 0.1 |
Collateral posted | 0.1 | 0.1 |
Special purpose entities | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0 | 0.1 |
Accelerated terminations | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Accelerated terminations | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.2 |
Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | SFr 0 | SFr 0.2 |
Derivatives and hedging activ_6
Derivatives and hedging activities - Credit protection sold/purchased (Details 4) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Credit protection sold/purchased | ||
Credit protection sold | SFr (124.2) | SFr (160.3) |
Credit protection purchased | 115.6 | 148.5 |
Net credit protection (sold)/purchased | (8.6) | (11.8) |
Other protection purchased | 16.8 | 33.9 |
Fair value of credit protection sold | (0.3) | (0.5) |
Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (3.2) | (5.9) |
Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (15.9) | (16.5) |
Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (99.9) | (133.3) |
Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (8.4) | (10.5) |
Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (11.8) | (12.8) |
Credit protection purchased | 10.3 | 11.3 |
Net credit protection (sold)/purchased | (1.5) | (1.5) |
Other protection purchased | 3 | 4.4 |
Fair value of credit protection sold | (0.1) | (0.1) |
Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (112.4) | (147.5) |
Credit protection purchased | 105.3 | 137.2 |
Net credit protection (sold)/purchased | (7.1) | (10.3) |
Other protection purchased | 13.8 | 29.5 |
Fair value of credit protection sold | (0.2) | (0.4) |
Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (91.7) | (107.1) |
Credit protection purchased | 86.1 | 99.4 |
Net credit protection (sold)/purchased | (5.6) | (7.7) |
Other protection purchased | 9.9 | 19.5 |
Fair value of credit protection sold | 0.3 | 0.3 |
Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (32.5) | (53.2) |
Credit protection purchased | 29.5 | 49.1 |
Net credit protection (sold)/purchased | (3) | (4.1) |
Other protection purchased | 6.9 | 14.4 |
Fair value of credit protection sold | (0.6) | (0.8) |
Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.2) | (75.1) |
Credit protection purchased | 46.8 | 69.3 |
Net credit protection (sold)/purchased | (5.4) | (5.8) |
Other protection purchased | 10.1 | 15.5 |
Fair value of credit protection sold | 0 | 0 |
Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (10.3) | (10) |
Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (39.4) | (61.8) |
Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (2.5) | (3.3) |
Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (11.8) | (12.8) |
Credit protection purchased | 10.3 | 11.3 |
Net credit protection (sold)/purchased | (1.5) | (1.5) |
Other protection purchased | 3 | 4.4 |
Fair value of credit protection sold | (0.1) | (0.1) |
Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (40.4) | (62.3) |
Credit protection purchased | 36.5 | 58 |
Net credit protection (sold)/purchased | (3.9) | (4.3) |
Other protection purchased | 7.1 | 11.1 |
Fair value of credit protection sold | 0.1 | 0.1 |
Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (37.7) | (52.8) |
Credit protection purchased | 34.2 | 48.6 |
Net credit protection (sold)/purchased | (3.5) | (4.2) |
Other protection purchased | 6.7 | 10.6 |
Fair value of credit protection sold | 0.1 | 0.2 |
Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.5) | (22.3) |
Credit protection purchased | 12.6 | 20.7 |
Net credit protection (sold)/purchased | (1.9) | (1.6) |
Other protection purchased | 3.4 | 4.9 |
Fair value of credit protection sold | (0.1) | (0.2) |
Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (72) | (85.2) |
Credit protection purchased | 68.8 | 79.2 |
Net credit protection (sold)/purchased | (3.2) | (6) |
Other protection purchased | 6.7 | 18.4 |
Fair value of credit protection sold | (0.3) | (0.5) |
Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (5.6) | (6.5) |
Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (60.5) | (71.5) |
Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (5.9) | (7.2) |
Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (72) | (85.2) |
Credit protection purchased | 68.8 | 79.2 |
Net credit protection (sold)/purchased | (3.2) | (6) |
Other protection purchased | 6.7 | 18.4 |
Fair value of credit protection sold | (0.3) | (0.5) |
Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (54) | (54.3) |
Credit protection purchased | 51.9 | 50.8 |
Net credit protection (sold)/purchased | (2.1) | (3.5) |
Other protection purchased | 3.2 | 8.9 |
Fair value of credit protection sold | 0.2 | 0.1 |
Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (18) | (30.9) |
Credit protection purchased | 16.9 | 28.4 |
Net credit protection (sold)/purchased | (1.1) | (2.5) |
Other protection purchased | 3.5 | 9.5 |
Fair value of credit protection sold | SFr (0.5) | SFr (0.6) |
Derivatives and hedging activ_7
Derivatives and hedging activities - Credit derivatives (Details 5) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Credit Derivatives [Line Items] | ||
Credit protection sold | SFr 124.2 | SFr 160.3 |
Credit protection purchased | 115.6 | 148.5 |
Other protection purchased | 16.8 | 33.9 |
Other instruments | 4.1 | 9.3 |
Total credit derivatives | SFr 260.7 | SFr 352 |
Derivatives and hedging activ_8
Derivatives and hedging activities (Details 6) - CHF (SFr) SFr in Billions | Jun. 30, 2023 | Dec. 31, 2022 |
Investment securities | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | SFr 0.9 | SFr 0.8 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | (0.1) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Long-term debt | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Liability, Fair Value Hedge | 68.4 | 72 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (0.5) | (1) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (4.5) | (4.4) |
Net loans | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 35.7 | 29 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | (1.3) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | SFr (1.8) | SFr (0.7) |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Guarantees | ||
Maturity less than 1 year | SFr 10,710 | SFr 13,642 |
Maturity greater than 1 year | 7,502 | 8,850 |
Total gross amount | 18,212 | 22,492 |
Total net amount | 17,509 | 21,634 |
Carrying value | 176 | 240 |
Collateral received | 7,107 | 9,138 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 1,558 | 2,261 |
Maturity greater than 1 year | 990 | 1,049 |
Total gross amount | 2,548 | 3,310 |
Total net amount | 2,490 | 3,197 |
Carrying value | 18 | 22 |
Collateral received | 1,636 | 2,068 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 3,489 | 4,280 |
Maturity greater than 1 year | 2,310 | 2,992 |
Total gross amount | 5,799 | 7,272 |
Total net amount | 5,155 | 6,527 |
Carrying value | 39 | 61 |
Collateral received | 2,843 | 3,778 |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 1,966 | 2,646 |
Maturity greater than 1 year | 2,061 | 2,596 |
Total gross amount | 4,027 | 5,242 |
Total net amount | 4,027 | 5,242 |
Carrying value | 59 | 101 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 3,697 | 4,455 |
Maturity greater than 1 year | 2,141 | 2,213 |
Total gross amount | 5,838 | 6,668 |
Total net amount | 5,837 | 6,668 |
Carrying value | 60 | 56 |
Collateral received | SFr 2,628 | SFr 3,292 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2024 | Jun. 30, 2024 | |
Guarantees | |||
Amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 6 | ||
Deposit Insurance Guarantee Scheme, Amount Guaranteed, Percentage | 1.60% | ||
Group's share in amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 0.6 | SFr 0.6 |
Guarantees and commitments - _2
Guarantees and commitments - Other commitments maturity (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Other commitments | ||
Maturity less than 1 year | SFr 18,759 | SFr 23,883 |
Maturity greater than 1 year | 69,380 | 93,185 |
Total gross amount | 88,139 | 117,068 |
Total net amount | 84,399 | 112,870 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 2,910 | 3,378 |
Maturity greater than 1 year | 26 | 42 |
Total gross amount | 2,936 | 3,420 |
Total net amount | 2,852 | 3,233 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 12,982 | 19,272 |
Maturity greater than 1 year | 69,115 | 92,857 |
Total gross amount | 82,097 | 112,129 |
Total net amount | 78,441 | 108,118 |
Unused revocable credit limits | 112,275 | 129,224 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 2,686 | 1,021 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 2,686 | 1,021 |
Total net amount | 2,686 | 1,021 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 181 | 212 |
Maturity greater than 1 year | 239 | 286 |
Total gross amount | 420 | 498 |
Total net amount | SFr 420 | SFr 498 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr 0 | SFr 5 |
Proceeds from transfer of assets | 0 | 2,819 |
Cash received on interests that continue to be held | 13 | 22 |
Cash flows between transferee and transferor non cash proceeds from new transfers | 0 | 272 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 0 | (1) |
Proceeds from transfer of assets | 0 | 6,799 |
Servicing fees | 7 | 0 |
Cash received on interests that continue to be held | 29 | 531 |
Cash flows between transferee and transferor non cash proceeds from new transfers | 0 | 635 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 7 | 23 |
Proceeds from transfer of assets | 6,677 | 3,808 |
Purchases of previously transferred financial assets or their underlying collateral | (177) | (997) |
Servicing fees | 98 | 97 |
Cash received on interests that continue to be held | 121 | 36 |
Cash flows between transferee and transferor non cash proceeds from new transfers | SFr 4,251 | SFr 65 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 5,170 | SFr 17,193 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 23,869 | 41,552 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 22,895 | SFr 21,939 |
TFA - Carrying amounts for sale
TFA - Carrying amounts for sale treatmen not achieved (Details 5) - Other asset-backed financings - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | SFr 22 | SFr 366 |
Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 209 | 154 |
Other liabilities | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Liability to SPE, transfer of financial interest, sale treatment not achieved | SFr (231) | SFr (520) |
TFA - Transfer of certain finan
TFA - Transfer of certain financial assets accounted for as secured borrowings (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | SFr 8,300 | SFr 30,200 |
Securities lending transactions | 100 | 900 |
Obligation to return securities received as collateral, at fair value | 2,220 | 2,978 |
Total | 10,600 | 34,100 |
Corporate debt securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 2,000 | 6,900 |
Securities lending transactions | 0 | 300 |
Obligation to return securities received as collateral, at fair value | 100 | 400 |
Asset-backed securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 0 | 900 |
Securities lending transactions | 0 | 200 |
Obligation to return securities received as collateral, at fair value | 0 | 100 |
Equity securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 100 | 200 |
Securities lending transactions | 100 | 100 |
Obligation to return securities received as collateral, at fair value | 1,100 | 1,300 |
Other | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 0 | 5,100 |
Securities lending transactions | 0 | 100 |
Obligation to return securities received as collateral, at fair value | 0 | 0 |
Government debt securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 6,200 | 17,100 |
Securities lending transactions | 0 | 200 |
Obligation to return securities received as collateral, at fair value | 1,000 | 1,200 |
No stated maturity [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 700 | 4,100 |
Securities lending transactions | 100 | 500 |
Obligation to return securities received as collateral, at fair value | 2,200 | 3,000 |
Total | 3,000 | 7,600 |
Maturity Less than 30 Days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 5,600 | 12,800 |
Securities lending transactions | 0 | 200 |
Obligation to return securities received as collateral, at fair value | 0 | 0 |
Total | 5,600 | 13,000 |
Maturity 30 to 90 Days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 1,200 | 5,900 |
Securities lending transactions | 0 | 0 |
Obligation to return securities received as collateral, at fair value | 0 | 0 |
Total | 1,200 | 5,900 |
Maturity Greater than 90 Days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Securities sold under repurchase agreements | 800 | 7,400 |
Securities lending transactions | 0 | 200 |
Obligation to return securities received as collateral, at fair value | 0 | 0 |
Total | SFr 800 | SFr 7,600 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 7) SFr in Millions | Jun. 30, 2023 CHF (SFr) day | Dec. 31, 2022 CHF (SFr) | Jun. 30, 2022 CHF (SFr) | Dec. 31, 2021 CHF (SFr) | |
VIE Disclosures | |||||
Cash and due from banks | [1] | SFr 100,124 | SFr 67,746 | SFr 158,700 | SFr 164,026 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 52,769 | 58,798 | |||
Trading assets | 37,238 | 65,955 | |||
Investment securities | 2,352 | 1,717 | |||
Other investments | 4,667 | 5,463 | |||
Net loans | 251,287 | 268,104 | |||
Other assets | 27,904 | 41,753 | |||
of which loans held-for-sale | 8,222 | 16,090 | |||
Assets | 483,735 | 530,039 | |||
Customer deposits | 182,557 | 234,554 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 2,949 | 20,371 | |||
Trading liabilities | 12,933 | 18,337 | |||
Short-term borrowings | 76,083 | 14,489 | |||
Long-term debt | 134,577 | 150,661 | |||
Other liabilities | 15,308 | 16,826 | |||
Liabilities | SFr 437,602 | 481,563 | |||
CP Conduit | |||||
VIE Disclosures | |||||
Average maturity of CP (in days) | day | 74 | ||||
Consolidated VIEs | |||||
VIE Disclosures | |||||
Cash and due from banks | SFr 454 | 229 | |||
Trading assets | 1,342 | 2,588 | |||
Other investments | 694 | 781 | |||
Net loans | 1,514 | 3,410 | |||
Other assets | 1,654 | 4,594 | |||
of which loans held-for-sale | 111 | 2,864 | |||
Premises and equipment | 0 | ||||
Assets | 5,658 | 11,602 | |||
Trading liabilities | 13 | 1,063 | |||
Short-term borrowings | 43 | 3,137 | |||
Long-term debt | 1,609 | 2,096 | |||
Other liabilities | 1,121 | 189 | |||
Liabilities | 2,785 | 6,485 | |||
Consolidated VIEs | Collateralized debt or loan obligations | |||||
VIE Disclosures | |||||
Cash and due from banks | 0 | 15 | |||
Trading assets | 0 | 0 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Other assets | 0 | 281 | |||
of which loans held-for-sale | 0 | 279 | |||
Premises and equipment | 0 | ||||
Assets | 0 | 296 | |||
Trading liabilities | 0 | 0 | |||
Short-term borrowings | 0 | 0 | |||
Long-term debt | 0 | 84 | |||
Other liabilities | 0 | 0 | |||
Liabilities | 0 | 84 | |||
Consolidated VIEs | CP Conduit | |||||
VIE Disclosures | |||||
Cash and due from banks | 326 | 94 | |||
Trading assets | 0 | 954 | |||
Other investments | 0 | 0 | |||
Net loans | 1,499 | 3,260 | |||
Other assets | 8 | 2,466 | |||
of which loans held-for-sale | 8 | 2,445 | |||
Premises and equipment | 0 | ||||
Assets | 1,833 | 6,774 | |||
Trading liabilities | 7 | 1,057 | |||
Short-term borrowings | 31 | 3,124 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 32 | 49 | |||
Liabilities | 70 | 4,230 | |||
Consolidated VIEs | Financial intermediation - Securitizations | |||||
VIE Disclosures | |||||
Cash and due from banks | 75 | 68 | |||
Trading assets | 885 | 1,154 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Other assets | 1,143 | 1,349 | |||
of which loans held-for-sale | 83 | 119 | |||
Premises and equipment | 0 | ||||
Assets | 2,103 | 2,571 | |||
Trading liabilities | 0 | 0 | |||
Short-term borrowings | 0 | 0 | |||
Long-term debt | 1,566 | 1,860 | |||
Other liabilities | 3 | 2 | |||
Liabilities | 1,569 | 1,862 | |||
Consolidated VIEs | Financial intermediation - Funds | |||||
VIE Disclosures | |||||
Cash and due from banks | 9 | 17 | |||
Trading assets | 20 | 23 | |||
Other investments | 52 | 58 | |||
Net loans | 0 | 0 | |||
Other assets | 34 | 39 | |||
of which loans held-for-sale | 20 | 21 | |||
Premises and equipment | 0 | ||||
Assets | 115 | 137 | |||
Trading liabilities | 0 | 0 | |||
Short-term borrowings | 11 | 13 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 16 | 19 | |||
Liabilities | 27 | 32 | |||
Consolidated VIEs | Financial intermediation - Loans | |||||
VIE Disclosures | |||||
Cash and due from banks | 28 | 24 | |||
Trading assets | 436 | 457 | |||
Other investments | 510 | 587 | |||
Net loans | 15 | 16 | |||
Other assets | 58 | 42 | |||
of which loans held-for-sale | 0 | 0 | |||
Premises and equipment | 0 | ||||
Assets | 1,047 | 1,126 | |||
Trading liabilities | 5 | 6 | |||
Short-term borrowings | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 44 | 49 | |||
Liabilities | 49 | 55 | |||
Consolidated VIEs | Financial intermediation - Other | |||||
VIE Disclosures | |||||
Cash and due from banks | 16 | 11 | |||
Trading assets | 1 | 0 | |||
Other investments | 132 | 136 | |||
Net loans | 0 | 134 | |||
Other assets | 411 | 417 | |||
of which loans held-for-sale | 0 | 0 | |||
Premises and equipment | 0 | ||||
Assets | 560 | 698 | |||
Trading liabilities | 1 | 0 | |||
Short-term borrowings | 1 | 0 | |||
Long-term debt | 43 | 152 | |||
Other liabilities | 1,026 | 70 | |||
Liabilities | SFr 1,071 | SFr 222 | |||
[1]Includes restricted cash. |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
VIE Disclosures | ||
Trading assets | SFr 37,238 | SFr 65,955 |
Net loans | 251,287 | 268,104 |
Other assets | 27,904 | 41,753 |
Assets | 483,735 | 530,039 |
Other liabilities | 15,308 | 16,826 |
Liabilities | 437,602 | 481,563 |
Non-consolidated VIEs | ||
VIE Disclosures | ||
Trading assets | 4,579 | 6,664 |
Net loans | 17,012 | 16,027 |
Other assets | 907 | 1,019 |
Assets | 22,498 | 23,710 |
Maximum exposure to loss | 27,492 | 32,730 |
Non-consolidated VIE assets | 261,096 | 265,484 |
Non-consolidated VIEs | Collateralized debt or loan obligations | ||
VIE Disclosures | ||
Trading assets | 227 | 214 |
Net loans | 138 | 314 |
Other assets | 9 | 6 |
Assets | 374 | 534 |
Maximum exposure to loss | 377 | 547 |
Non-consolidated VIE assets | 8,640 | 9,713 |
Non-consolidated VIEs | CP Conduit | ||
VIE Disclosures | ||
Trading assets | 0 | 0 |
Net loans | 66 | 1,440 |
Other assets | 0 | 0 |
Assets | 66 | 1,440 |
Maximum exposure to loss | 133 | 4,374 |
Non-consolidated VIE assets | 274 | 7,297 |
Non-consolidated VIEs | Financial intermediation - Securitizations | ||
VIE Disclosures | ||
Trading assets | 2,126 | 3,877 |
Net loans | 3,152 | 2,521 |
Other assets | 0 | 3 |
Assets | 5,278 | 6,401 |
Maximum exposure to loss | 6,554 | 9,514 |
Non-consolidated VIE assets | 42,842 | 79,322 |
Non-consolidated VIEs | Financial intermediation - Funds | ||
VIE Disclosures | ||
Trading assets | 583 | 750 |
Net loans | 1,983 | 1,934 |
Other assets | 119 | 122 |
Assets | 2,685 | 2,806 |
Maximum exposure to loss | 2,685 | 2,806 |
Non-consolidated VIE assets | 161,867 | 115,900 |
Non-consolidated VIEs | Financial intermediation - Loans | ||
VIE Disclosures | ||
Trading assets | 7 | 7 |
Net loans | 10,142 | 7,617 |
Other assets | 77 | 4 |
Assets | 10,226 | 7,628 |
Maximum exposure to loss | 13,603 | 9,999 |
Non-consolidated VIE assets | 36,439 | 38,632 |
Non-consolidated VIEs | Financial intermediation - Other | ||
VIE Disclosures | ||
Trading assets | 1,636 | 1,816 |
Net loans | 1,531 | 2,201 |
Other assets | 702 | 884 |
Assets | 3,869 | 4,901 |
Maximum exposure to loss | 4,140 | 5,490 |
Non-consolidated VIE assets | SFr 11,034 | SFr 14,620 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and Due from Banks | SFr 127 | SFr 198 |
Interest-bearing deposits with banks | 16 | 14 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683 | 40,793 |
Securities received as collateral | 2,220 | 2,978 |
Trading assets | 37,238 | 65,955 |
Available-for-sale Securities, Debt Securities | 854 | 796 |
Other investments | 2,405 | 3,730 |
Loans | 4,556 | 7,358 |
Other intangible assets (mortgage servicing rights), at fair value | 337 | 403 |
Other assets | 5,447 | 8,947 |
Other assets - of which failed purchases | 569 | 801 |
Netting impact | (60,400) | (78,000) |
Recurring basis | ||
Assets | ||
Cash and Due from Banks | 127 | 198 |
Interest-bearing deposits with banks | 16 | 14 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683 | 40,793 |
Securities received as collateral | 2,220 | 2,978 |
Trading assets | 37,238 | 65,955 |
Available-for-sale Securities, Debt Securities | 854 | 796 |
Other investments | 2,405 | 3,730 |
Loans | 4,556 | 7,358 |
Loans - of which commercial and industrial | 2,147 | 2,681 |
Loans - of which financial institutions | 1,097 | 2,989 |
Loans - of which government and public institutions | 1,129 | 1,366 |
Other intangible assets (mortgage servicing rights), at fair value | 337 | 403 |
Other assets | 5,447 | 8,947 |
Other assets - of which loans held-for-sale | 4,473 | 7,813 |
Other assets - of which failed purchases | 541 | 730 |
Netting impact | (60,414) | (77,915) |
Total assets at fair value | 84,883 | 131,172 |
Recurring basis | Other equity investments | ||
Assets | ||
Other investments | 1,779 | 3,070 |
Recurring basis | Life finance instruments | ||
Assets | ||
Other investments | 510 | 587 |
Recurring basis | Debt securities | ||
Assets | ||
Trading assets | 19,452 | 37,614 |
Recurring basis | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 13,196 | 15,800 |
Recurring basis | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 4,064 | 8,160 |
Recurring basis | Debt securities | RMBS | ||
Assets | ||
Trading assets | 1,156 | 10,866 |
Recurring basis | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 753 | 1,354 |
Recurring basis | Equity securities | ||
Assets | ||
Trading assets | 7,435 | 13,182 |
Recurring basis | Derivative instruments | ||
Assets | ||
Trading assets | 7,552 | 11,143 |
Netting impact | (60,268) | (77,695) |
Recurring basis | Trading assets | ||
Assets | ||
Netting impact | (60,268) | (77,695) |
Recurring basis | Other | ||
Assets | ||
Trading assets | 2,799 | 4,016 |
Recurring basis | Other assets | ||
Assets | ||
Netting impact | (146) | (220) |
Recurring basis | Level 1 | ||
Assets | ||
Cash and Due from Banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 100 |
Securities received as collateral | 1,852 | 2,318 |
Trading assets | 21,567 | 33,724 |
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other investments | 0 | 0 |
Loans | 0 | 0 |
Loans - of which commercial and industrial | 0 | 0 |
Loans - of which financial institutions | 0 | 0 |
Loans - of which government and public institutions | 0 | 0 |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 |
Other assets | 66 | 78 |
Other assets - of which loans held-for-sale | 0 | 0 |
Other assets - of which failed purchases | 50 | 54 |
Total assets at fair value | 23,485 | 36,220 |
Recurring basis | Level 1 | Other equity investments | ||
Assets | ||
Other investments | 0 | 0 |
Recurring basis | Level 1 | Life finance instruments | ||
Assets | ||
Other investments | 0 | 0 |
Recurring basis | Level 1 | Debt securities | ||
Assets | ||
Trading assets | 9,264 | 13,084 |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 7,615 | 10,117 |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 1,572 | 2,718 |
Recurring basis | Level 1 | Debt securities | RMBS | ||
Assets | ||
Trading assets | 0 | 5 |
Recurring basis | Level 1 | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 13 | 197 |
Recurring basis | Level 1 | Equity securities | ||
Assets | ||
Trading assets | 6,413 | 11,772 |
Recurring basis | Level 1 | Derivative instruments | ||
Assets | ||
Trading assets | 4,663 | 7,571 |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | ||
Assets | ||
Trading assets | 16 | 1,617 |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | ||
Assets | ||
Trading assets | 26 | 24 |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | ||
Assets | ||
Trading assets | 4,615 | 5,927 |
Recurring basis | Level 1 | Derivative instruments | Credit derivatives | ||
Assets | ||
Trading assets | 0 | 0 |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | ||
Assets | ||
Trading assets | 0 | 0 |
Recurring basis | Level 1 | Other | ||
Assets | ||
Trading assets | 1,227 | 1,297 |
Recurring basis | Level 2 | ||
Assets | ||
Cash and Due from Banks | 127 | 198 |
Interest-bearing deposits with banks | 16 | 14 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683 | 40,693 |
Securities received as collateral | 368 | 660 |
Trading assets | 72,949 | 105,555 |
Available-for-sale Securities, Debt Securities | 854 | 796 |
Other investments | 15 | 17 |
Loans | 3,741 | 6,318 |
Loans - of which commercial and industrial | 1,928 | 2,381 |
Loans - of which financial institutions | 810 | 2,591 |
Loans - of which government and public institutions | 910 | 1,112 |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 44 |
Other assets | 4,620 | 8,316 |
Other assets - of which loans held-for-sale | 3,674 | 7,165 |
Other assets - of which failed purchases | 479 | 664 |
Total assets at fair value | 114,373 | 162,611 |
Recurring basis | Level 2 | Other equity investments | ||
Assets | ||
Other investments | 15 | 17 |
Recurring basis | Level 2 | Life finance instruments | ||
Assets | ||
Other investments | 0 | 0 |
Recurring basis | Level 2 | Debt securities | ||
Assets | ||
Trading assets | 9,326 | 23,288 |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 5,533 | 5,597 |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 1,956 | 4,998 |
Recurring basis | Level 2 | Debt securities | RMBS | ||
Assets | ||
Trading assets | 1,069 | 10,417 |
Recurring basis | Level 2 | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 581 | 941 |
Recurring basis | Level 2 | Equity securities | ||
Assets | ||
Trading assets | 651 | 676 |
Recurring basis | Level 2 | Derivative instruments | ||
Assets | ||
Trading assets | 61,962 | 79,606 |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | ||
Assets | ||
Trading assets | 26,333 | 31,900 |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | ||
Assets | ||
Trading assets | 15,824 | 25,512 |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | ||
Assets | ||
Trading assets | 17,458 | 18,669 |
Recurring basis | Level 2 | Derivative instruments | Credit derivatives | ||
Assets | ||
Trading assets | 1,989 | 3,059 |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | ||
Assets | ||
Trading assets | 190 | 197 |
Recurring basis | Level 2 | Other | ||
Assets | ||
Trading assets | 1,010 | 1,985 |
Recurring basis | Level 3 | ||
Assets | ||
Cash and Due from Banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 |
Securities received as collateral | 0 | 0 |
Trading assets | 2,712 | 3,828 |
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other investments | 1,942 | 3,313 |
Loans | 815 | 1,040 |
Loans - of which commercial and industrial | 219 | 300 |
Loans - of which financial institutions | 287 | 398 |
Loans - of which government and public institutions | 219 | 254 |
Other intangible assets (mortgage servicing rights), at fair value | 337 | 359 |
Other assets | 907 | 773 |
Other assets - of which loans held-for-sale | 799 | 648 |
Other assets - of which failed purchases | 12 | 12 |
Total assets at fair value | 6,713 | 9,313 |
Recurring basis | Level 3 | Other equity investments | ||
Assets | ||
Other investments | 1,428 | 2,725 |
Recurring basis | Level 3 | Life finance instruments | ||
Assets | ||
Other investments | 510 | 587 |
Recurring basis | Level 3 | Debt securities | ||
Assets | ||
Trading assets | 802 | 1,211 |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 48 | 86 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 504 | 413 |
Recurring basis | Level 3 | Debt securities | RMBS | ||
Assets | ||
Trading assets | 87 | 444 |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 159 | 216 |
Recurring basis | Level 3 | Equity securities | ||
Assets | ||
Trading assets | 153 | 222 |
Recurring basis | Level 3 | Derivative instruments | ||
Assets | ||
Trading assets | 1,195 | 1,661 |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | ||
Assets | ||
Trading assets | 47 | 671 |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | ||
Assets | ||
Trading assets | 25 | 17 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | ||
Assets | ||
Trading assets | 488 | 295 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | ||
Assets | ||
Trading assets | 140 | 130 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | ||
Assets | ||
Trading assets | 495 | 548 |
Recurring basis | Level 3 | Other | ||
Assets | ||
Trading assets | 562 | 734 |
Recurring basis | Fair value measured at net asset value per share | ||
Assets | ||
Trading assets | 278 | 543 |
Other investments | 448 | 400 |
Total assets at fair value | 726 | 943 |
Recurring basis | Fair value measured at net asset value per share | Other equity investments | ||
Assets | ||
Other investments | 336 | 328 |
Recurring basis | Fair value measured at net asset value per share | Debt securities | ||
Assets | ||
Trading assets | 60 | 31 |
Recurring basis | Fair value measured at net asset value per share | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 32 | 31 |
Recurring basis | Fair value measured at net asset value per share | Equity securities | ||
Assets | ||
Trading assets | SFr 218 | SFr 512 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Liabilities | ||
Due to banks | SFr 101 | SFr 490 |
Customer deposits | 1,767 | 2,464 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,330 | 14,133 |
Obligation to return securities received as collateral | 2,220 | 2,978 |
Trading liabilities | 12,933 | 18,337 |
Short-term borrowings | 4,409 | 6,783 |
Long-term debt | 40,071 | 57,919 |
Other liabilities | 1,632 | 2,286 |
Netting impact | (64,300) | (81,800) |
Recurring basis | ||
Liabilities | ||
Due to banks | 101 | 490 |
Customer deposits | 1,767 | 2,464 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,330 | 14,133 |
Obligation to return securities received as collateral | 2,220 | 2,978 |
Trading liabilities | 12,933 | 18,337 |
Short-term borrowings | 4,409 | 6,783 |
Long-term debt | 40,071 | 57,919 |
Other liabilities | 1,632 | 2,286 |
Netting impact | (64,365) | (81,870) |
Total liabilities at fair value | 64,463 | 105,390 |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | 7,218 | 11,136 |
Recurring basis | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 25,595 | 27,716 |
Recurring basis | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | 4,112 | 4,689 |
Recurring basis | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | 7,512 | |
Recurring basis | Debt securities | ||
Liabilities | ||
Trading liabilities | 2,274 | 5,461 |
Recurring basis | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 1,708 | 3,422 |
Recurring basis | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 509 | 2,011 |
Recurring basis | Equity securities | ||
Liabilities | ||
Trading liabilities | 3,610 | 3,706 |
Recurring basis | Short positions | ||
Liabilities | ||
Trading liabilities | 5,884 | 9,167 |
Recurring basis | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 6,730 | 8,945 |
Netting impact | (62,622) | (80,026) |
Recurring basis | Trading liabilities | ||
Liabilities | ||
Netting impact | (62,622) | (80,026) |
Recurring basis | Other | ||
Liabilities | ||
Trading liabilities | 319 | 225 |
Recurring basis | Other liabilities | ||
Liabilities | ||
Netting impact | (1,743) | (1,844) |
Recurring basis | Level 1 | ||
Liabilities | ||
Due to banks | 0 | 0 |
Customer deposits | 0 | 0 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 |
Obligation to return securities received as collateral | 1,852 | 2,318 |
Trading liabilities | 9,898 | 13,131 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Other liabilities | 45 | 133 |
Total liabilities at fair value | 11,795 | 15,582 |
Recurring basis | Level 1 | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | 0 | 0 |
Recurring basis | Level 1 | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 0 | 0 |
Recurring basis | Level 1 | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | 0 | 0 |
Recurring basis | Level 1 | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | 0 | |
Recurring basis | Level 1 | Debt securities | ||
Liabilities | ||
Trading liabilities | 1,630 | 3,228 |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 1,540 | 3,150 |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 36 | 53 |
Recurring basis | Level 1 | Equity securities | ||
Liabilities | ||
Trading liabilities | 3,418 | 3,328 |
Recurring basis | Level 1 | Short positions | ||
Liabilities | ||
Trading liabilities | 5,048 | 6,556 |
Recurring basis | Level 1 | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 4,850 | 6,575 |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | ||
Liabilities | ||
Trading liabilities | 12 | 1,566 |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | ||
Liabilities | ||
Trading liabilities | 27 | 20 |
Recurring basis | Level 1 | Derivative instruments | Credit derivatives | ||
Liabilities | ||
Trading liabilities | 0 | 0 |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | ||
Liabilities | ||
Trading liabilities | 4,804 | 4,981 |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | ||
Liabilities | ||
Trading liabilities | 1 | 5 |
Recurring basis | Level 1 | Other | ||
Liabilities | ||
Trading liabilities | 0 | 0 |
Recurring basis | Level 2 | ||
Liabilities | ||
Due to banks | 101 | 490 |
Customer deposits | 1,493 | 2,212 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,330 | 14,133 |
Obligation to return securities received as collateral | 368 | 660 |
Trading liabilities | 63,196 | 83,351 |
Short-term borrowings | 4,205 | 6,330 |
Long-term debt | 33,716 | 51,185 |
Other liabilities | 3,053 | 3,794 |
Total liabilities at fair value | 107,462 | 162,155 |
Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | 6,790 | 10,697 |
Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 21,332 | 23,409 |
Recurring basis | Level 2 | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | 2,548 | 2,961 |
Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | 7,484 | |
Recurring basis | Level 2 | Debt securities | ||
Liabilities | ||
Trading liabilities | 643 | 2,232 |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 168 | 272 |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 472 | 1,957 |
Recurring basis | Level 2 | Equity securities | ||
Liabilities | ||
Trading liabilities | 183 | 363 |
Recurring basis | Level 2 | Short positions | ||
Liabilities | ||
Trading liabilities | 826 | 2,595 |
Recurring basis | Level 2 | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 62,370 | 80,756 |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | ||
Liabilities | ||
Trading liabilities | 25,415 | 30,288 |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | ||
Liabilities | ||
Trading liabilities | 16,769 | 26,180 |
Recurring basis | Level 2 | Derivative instruments | Credit derivatives | ||
Liabilities | ||
Trading liabilities | 2,460 | 3,157 |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | ||
Liabilities | ||
Trading liabilities | 17,541 | 20,731 |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | ||
Liabilities | ||
Trading liabilities | 39 | 210 |
Recurring basis | Level 2 | Other | ||
Liabilities | ||
Trading liabilities | 0 | 0 |
Recurring basis | Level 3 | ||
Liabilities | ||
Due to banks | 0 | 0 |
Customer deposits | 274 | 252 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 |
Obligation to return securities received as collateral | 0 | 0 |
Trading liabilities | 2,461 | 1,881 |
Short-term borrowings | 204 | 453 |
Long-term debt | 6,355 | 6,734 |
Other liabilities | 277 | 203 |
Total liabilities at fair value | 9,571 | 9,523 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | 428 | 439 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 4,263 | 4,307 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | 1,564 | 1,728 |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | 28 | |
Recurring basis | Level 3 | Debt securities | ||
Liabilities | ||
Trading liabilities | 1 | 1 |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 0 | 0 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 1 | 1 |
Recurring basis | Level 3 | Equity securities | ||
Liabilities | ||
Trading liabilities | 9 | 15 |
Recurring basis | Level 3 | Short positions | ||
Liabilities | ||
Trading liabilities | 10 | 16 |
Recurring basis | Level 3 | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 2,132 | 1,640 |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | ||
Liabilities | ||
Trading liabilities | 161 | 118 |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | ||
Liabilities | ||
Trading liabilities | 1 | 1 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | ||
Liabilities | ||
Trading liabilities | 239 | 242 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | ||
Liabilities | ||
Trading liabilities | 1,452 | 1,083 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | ||
Liabilities | ||
Trading liabilities | 279 | 196 |
Recurring basis | Level 3 | Other | ||
Liabilities | ||
Trading liabilities | SFr 319 | SFr 225 |
FI - Roll-forward of assets mea
FI - Roll-forward of assets measured at fair value on recurring basis (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Assets measured at fair value on a recurring basis for level 3 | |||
Retained Earnings (Accumulated Deficit) | SFr 9,868 | SFr 7,659 | |
Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | SFr 0 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 3 | ||
Settlements, assets | (3) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | 0 | ||
Balance at end of period, assets | 0 | ||
Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Recurring basis | Securities received as collateral | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 14 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | (14) | ||
Issuances, assets | 0 | ||
Settlements, assets | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | 0 | ||
Balance at end of period, assets | 0 | ||
Recurring basis | Securities received as collateral | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Recurring basis | Trading assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,828 | 4,503 | |
Transfers in, assets | 708 | 907 | |
Transfers out, assets | (465) | (1,174) | |
Purchases, assets | 807 | 3,539 | |
Sales, assets | (1,550) | (3,324) | |
Issuances, assets | 406 | 580 | |
Settlements, assets | (349) | (548) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 44 | 36 | |
Gain (loss) on all other activity included in trading revenues, assets | (611) | (338) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | (8) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (108) | 227 | |
Balance at end of period, assets | 2,712 | 4,400 | |
Recurring basis | Trading assets | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (251) | 477 | |
Recurring basis | Trading assets | Debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,211 | 1,225 | |
Transfers in, assets | 509 | 515 | |
Transfers out, assets | (226) | (733) | |
Purchases, assets | 660 | 2,899 | |
Sales, assets | (1,283) | (2,571) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (21) | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (12) | (106) | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | (313) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | (8) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (38) | 97 | |
Balance at end of period, assets | 802 | 1,005 | |
Recurring basis | Trading assets | Debt securities | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 36 | 562 | |
Recurring basis | Trading assets | Debt securities | Corporate debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 413 | 478 | |
Transfers in, assets | 347 | 161 | |
Transfers out, assets | (99) | (385) | |
Purchases, assets | 604 | 2,412 | |
Sales, assets | (757) | (2,048) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (10) | (106) | |
Gain (loss) on all other activity included in trading revenues, assets | 25 | (276) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (19) | 63 | |
Balance at end of period, assets | 504 | 299 | |
Recurring basis | Trading assets | Debt securities | Corporate debt securities | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 67 | 662 | |
Recurring basis | Trading assets | Debt securities | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 444 | 424 | |
Transfers in, assets | 61 | 77 | |
Transfers out, assets | (114) | (131) | |
Purchases, assets | 27 | 243 | |
Sales, assets | (313) | (326) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (6) | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 4 | |
Gain (loss) on all other activity included in trading revenues, assets | (2) | 100 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (10) | 19 | |
Balance at end of period, assets | 87 | 410 | |
Recurring basis | Trading assets | Debt securities | RMBS | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 9 | 28 | |
Recurring basis | Trading assets | Debt securities | Collateralized debt obligations | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 216 | ||
Transfers in, assets | 86 | ||
Transfers out, assets | (6) | ||
Purchases, assets | 29 | ||
Sales, assets | (158) | ||
Issuances, assets | 0 | ||
Settlements, assets | (6) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | (1) | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 2 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (3) | ||
Balance at end of period, assets | 159 | ||
Recurring basis | Trading assets | Debt securities | Collateralized debt obligations | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (20) | ||
Recurring basis | Trading assets | Derivative instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,661 | 2,187 | |
Transfers in, assets | 172 | 216 | |
Transfers out, assets | (173) | (326) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 406 | 580 | |
Settlements, assets | (293) | (409) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 25 | 98 | |
Gain (loss) on all other activity included in trading revenues, assets | (558) | (31) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (45) | 83 | |
Balance at end of period, assets | 1,195 | 2,398 | |
Recurring basis | Trading assets | Derivative instruments | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (257) | 17 | |
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 671 | 624 | |
Transfers in, assets | 4 | 4 | |
Transfers out, assets | (30) | (6) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 33 | 60 | |
Settlements, assets | (48) | (28) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | (553) | 252 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (29) | 20 | |
Balance at end of period, assets | 47 | 925 | |
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (396) | 141 | |
Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 295 | ||
Transfers in, assets | 70 | ||
Transfers out, assets | (79) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 233 | ||
Settlements, assets | (74) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 19 | ||
Gain (loss) on all other activity included in trading revenues, assets | 18 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | 6 | ||
Balance at end of period, assets | 488 | ||
Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 111 | ||
Recurring basis | Trading assets | Derivative instruments | Credit derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 130 | ||
Transfers in, assets | 82 | ||
Transfers out, assets | (45) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 28 | ||
Settlements, assets | (55) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 4 | ||
Gain (loss) on all other activity included in trading revenues, assets | (1) | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (3) | ||
Balance at end of period, assets | 140 | ||
Recurring basis | Trading assets | Derivative instruments | Credit derivatives | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 9 | ||
Recurring basis | Trading assets | Derivative instruments | Other derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 548 | 1,034 | |
Transfers in, assets | 0 | 10 | |
Transfers out, assets | 0 | (5) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 103 | 158 | |
Settlements, assets | (112) | (154) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 3 | |
Gain (loss) on all other activity included in trading revenues, assets | (27) | (381) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (18) | 41 | |
Balance at end of period, assets | 495 | 706 | |
Recurring basis | Trading assets | Derivative instruments | Other derivatives | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 21 | (373) | |
Recurring basis | Trading assets | Other | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 734 | 896 | |
Transfers in, assets | 10 | 57 | |
Transfers out, assets | (63) | (45) | |
Purchases, assets | 135 | 555 | |
Sales, assets | (164) | (727) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (35) | (139) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 6 | |
Gain (loss) on all other activity included in trading revenues, assets | (37) | 82 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (21) | 37 | |
Balance at end of period, assets | 562 | 722 | |
Recurring basis | Trading assets | Other | Other derivatives | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (12) | (112) | |
Recurring basis | Other investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,313 | 3,666 | |
Transfers in, assets | 6 | 71 | |
Transfers out, assets | (921) | 0 | |
Purchases, assets | 15 | 51 | |
Sales, assets | (97) | (118) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (234) | (162) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (73) | (52) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (67) | 118 | |
Balance at end of period, assets | 1,942 | 3,574 | |
Recurring basis | Other investments | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (234) | (99) | |
Recurring basis | Other investments | Other equity investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,725 | 2,863 | |
Transfers in, assets | 3 | 71 | |
Transfers out, assets | (921) | 0 | |
Purchases, assets | 3 | 37 | |
Sales, assets | (33) | (5) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (226) | (115) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (73) | (60) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (50) | 84 | |
Balance at end of period, assets | 1,428 | 2,875 | |
Recurring basis | Other investments | Other equity investments | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (244) | (77) | |
Recurring basis | Other investments | Life finance instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 587 | 789 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 12 | 14 | |
Sales, assets | (64) | (105) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (8) | (47) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (17) | 34 | |
Balance at end of period, assets | 510 | 685 | |
Recurring basis | Other investments | Life finance instruments | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 13 | (22) | |
Recurring basis | Loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,040 | 1,534 | |
Transfers in, assets | 222 | 313 | |
Transfers out, assets | (81) | (317) | |
Purchases, assets | 1 | 0 | |
Sales, assets | (17) | (20) | |
Issuances, assets | 5 | 3 | |
Settlements, assets | (238) | (369) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 27 | 21 | |
Gain (loss) on all other activity included in trading revenues, assets | (125) | (64) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (19) | 88 | |
Balance at end of period, assets | 815 | 1,189 | |
Recurring basis | Loans | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (38) | (97) | |
Recurring basis | Commercial and industrial loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 300 | 717 | |
Transfers in, assets | 164 | 74 | |
Transfers out, assets | (81) | (300) | |
Purchases, assets | 0 | 0 | |
Sales, assets | (15) | (8) | |
Issuances, assets | 5 | 3 | |
Settlements, assets | (75) | (123) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 25 | 12 | |
Gain (loss) on all other activity included in trading revenues, assets | (106) | (46) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | 39 | |
Balance at end of period, assets | 219 | 368 | |
Recurring basis | Commercial and industrial loans | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (44) | (54) | |
Recurring basis | Financial institutions loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 398 | 465 | |
Transfers in, assets | 1 | 75 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (95) | (219) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (6) | 10 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (12) | 33 | |
Balance at end of period, assets | 287 | 364 | |
Recurring basis | Financial institutions loans | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 10 | (17) | |
Recurring basis | Governments and public institutions loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 254 | 289 | |
Transfers in, assets | 41 | 95 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 0 | 0 | |
Sales, assets | (1) | 0 | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (65) | 1 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | (6) | (25) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (5) | 12 | |
Balance at end of period, assets | 219 | 371 | |
Recurring basis | Governments and public institutions loans | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 3 | (26) | |
Recurring basis | Other intangible assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 359 | 167 | |
Transfers in, assets | 43 | 102 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (54) | (21) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (11) | 7 | |
Balance at end of period, assets | 337 | 255 | |
Recurring basis | Other intangible assets | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (54) | (21) | |
Recurring basis | Other assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 773 | 694 | |
Transfers in, assets | 305 | 170 | |
Transfers out, assets | (143) | (114) | |
Purchases, assets | 192 | 510 | |
Sales, assets | (179) | (512) | |
Issuances, assets | 28 | 114 | |
Settlements, assets | (78) | (199) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 7 | 6 | |
Gain (loss) on all other activity included in trading revenues, assets | 5 | 3 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (2) | 4 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (1) | 46 | |
Balance at end of period, assets | 907 | 722 | |
Recurring basis | Other assets | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (19) | 0 | |
Recurring basis | Other assets - of which loans held-for-sale | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 648 | 562 | |
Transfers in, assets | 302 | 153 | |
Transfers out, assets | (142) | (109) | |
Purchases, assets | 156 | 493 | |
Sales, assets | (152) | (509) | |
Issuances, assets | 28 | 113 | |
Settlements, assets | (77) | (199) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 7 | 14 | |
Gain (loss) on all other activity included in trading revenues, assets | 27 | 9 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | 39 | |
Balance at end of period, assets | 799 | 566 | |
Recurring basis | Other assets - of which loans held-for-sale | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (1) | 2 | |
Recurring basis | Assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 9,313 | 10,578 | |
Transfers in, assets | 1,284 | 1,563 | |
Transfers out, assets | (1,610) | (1,605) | |
Purchases, assets | 1,015 | 4,100 | |
Sales, assets | (1,843) | (3,988) | |
Issuances, assets | 439 | 700 | |
Settlements, assets | (665) | (1,119) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 78 | 63 | |
Gain (loss) on all other activity included in trading revenues, assets | (1,019) | (582) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (73) | (56) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (206) | 486 | |
Balance at end of period, assets | 6,713 | 10,140 | |
Recurring basis | Assets | Net Revenue [Member] | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | SFr (596) | SFr 260 |
FI - Roll-forward of liabilitie
FI - Roll-forward of liabilities measured at fair value on recurring basis (Details 5) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Customer deposits | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | SFr 252 | SFr 394 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 309 | 0 |
Settlements, liabilities | (38) | (15) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (210) | (26) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (19) | (41) |
Foreign currency translation impact, liabilities | (20) | (13) |
Balance at end of period, liabilities | 274 | 299 |
Customer deposits | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (12) | (70) |
Obligation to return securities received as collateral | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 14 | |
Transfers in, liabilities | 0 | |
Transfers out, liabilities | 0 | |
Purchases, liabilities | 0 | |
Sales, liabilities | (14) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 0 | |
Obligation to return securities received as collateral | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 0 | |
Trading liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,881 | 2,809 |
Transfers in, liabilities | 401 | 856 |
Transfers out, liabilities | (378) | (882) |
Purchases, liabilities | 75 | 18 |
Sales, liabilities | (47) | (83) |
Issuances, liabilities | 417 | 502 |
Settlements, liabilities | (392) | (629) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 69 | 37 |
Gain (loss) on all other activity included in trading revenues, liabilities | 490 | (290) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (55) | 118 |
Balance at end of period, liabilities | 2,461 | 2,456 |
Trading liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 462 | (188) |
Trading liabilities | Derivative instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,640 | 2,784 |
Transfers in, liabilities | 400 | 746 |
Transfers out, liabilities | (377) | (870) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | (61) |
Issuances, liabilities | 417 | 502 |
Settlements, liabilities | (392) | (629) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 69 | 38 |
Gain (loss) on all other activity included in trading revenues, liabilities | 421 | (228) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (46) | 120 |
Balance at end of period, liabilities | 2,132 | 2,402 |
Trading liabilities | Derivative instruments | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 409 | (180) |
Trading liabilities | Derivative instruments | Equity/Index-related products | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,083 | 1,787 |
Transfers in, liabilities | 204 | 611 |
Transfers out, liabilities | (320) | (596) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 336 | 279 |
Settlements, liabilities | (122) | (232) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 63 | (9) |
Gain (loss) on all other activity included in trading revenues, liabilities | 237 | (468) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (29) | 75 |
Balance at end of period, liabilities | 1,452 | 1,447 |
Trading liabilities | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 341 | (348) |
Trading liabilities | Derivative instruments | Credit derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 242 | |
Transfers in, liabilities | 167 | |
Transfers out, liabilities | (41) | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | 17 | |
Settlements, liabilities | (194) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 48 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | (4) | |
Balance at end of period, liabilities | 239 | |
Trading liabilities | Derivative instruments | Credit derivatives | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 29 | |
Trading liabilities | Derivative instruments | Other derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 196 | 540 |
Transfers in, liabilities | (1) | 7 |
Transfers out, liabilities | 1 | (4) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | (61) |
Issuances, liabilities | 49 | 89 |
Settlements, liabilities | (46) | (113) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 3 |
Gain (loss) on all other activity included in trading revenues, liabilities | 89 | 73 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (8) | 26 |
Balance at end of period, liabilities | 279 | 560 |
Trading liabilities | Derivative instruments | Other derivatives | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 4 | (15) |
Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 453 | 1,032 |
Transfers in, liabilities | 129 | 124 |
Transfers out, liabilities | (112) | (522) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 128 | 639 |
Settlements, liabilities | (380) | (500) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 5 | (43) |
Gain (loss) on all other activity included in trading revenues, liabilities | (11) | (58) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 1 | 0 |
Foreign currency translation impact, liabilities | (9) | 44 |
Balance at end of period, liabilities | 204 | 716 |
Short-term borrowings | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (54) | 18 |
Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 6,734 | 9,676 |
Transfers in, liabilities | 2,069 | 1,259 |
Transfers out, liabilities | (1,971) | (4,863) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,552 | 4,531 |
Settlements, liabilities | (2,101) | (2,960) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 103 | (499) |
Gain (loss) on all other activity included in trading revenues, liabilities | (39) | (746) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | (28) | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 29 | (35) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 223 | (202) |
Foreign currency translation impact, liabilities | (216) | 495 |
Balance at end of period, liabilities | 6,355 | 6,656 |
Long-term debt | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 47 | (756) |
Long-term debt | Long-term debt - of which structured notes over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 4,307 | 6,318 |
Transfers in, liabilities | 1,559 | 1,106 |
Transfers out, liabilities | (1,527) | (3,441) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,426 | 3,888 |
Settlements, liabilities | (1,812) | (2,595) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 97 | (416) |
Gain (loss) on all other activity included in trading revenues, liabilities | 115 | (586) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 27 | (34) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 216 | (201) |
Foreign currency translation impact, liabilities | (145) | 344 |
Balance at end of period, liabilities | 4,263 | 4,383 |
Long-term debt | Long-term debt - of which structured notes over two years | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 225 | (740) |
Long-term debt | Long-term debt - of which other debt instruments over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,728 | 1,854 |
Transfers in, liabilities | 101 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | (45) | (26) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (169) | (84) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (51) | 82 |
Balance at end of period, liabilities | 1,564 | 1,826 |
Long-term debt | Long-term debt - of which other debt instruments over two years | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (191) | 0 |
Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 203 | 517 |
Transfers in, liabilities | 394 | 41 |
Transfers out, liabilities | (2) | (2) |
Purchases, liabilities | 24 | 8 |
Sales, liabilities | (34) | (21) |
Issuances, liabilities | 51 | 58 |
Settlements, liabilities | (57) | (71) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (2) | (2) |
Gain (loss) on all other activity included in trading revenues, liabilities | 63 | (22) |
Gain (loss) on transfers in/out included in other revenues, liabilities | (4) | 1 |
Gain (loss) on all other activity included in other revenues, liabilities | (356) | (35) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (3) | 23 |
Balance at end of period, liabilities | 277 | 495 |
Other liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 21 | 16 |
Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 9,523 | 14,442 |
Transfers in, liabilities | 2,993 | 2,280 |
Transfers out, liabilities | (2,463) | (6,269) |
Purchases, liabilities | 99 | 26 |
Sales, liabilities | (81) | (118) |
Issuances, liabilities | 2,457 | 5,730 |
Settlements, liabilities | (2,968) | (4,175) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 175 | (507) |
Gain (loss) on all other activity included in trading revenues, liabilities | 293 | (1,142) |
Gain (loss) on transfers in/out included in other revenues, liabilities | (4) | 1 |
Gain (loss) on all other activity included in other revenues, liabilities | (384) | (35) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 29 | (35) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 205 | (243) |
Foreign currency translation impact, liabilities | (303) | 667 |
Balance at end of period, liabilities | 9,571 | 10,622 |
Liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr 464 | SFr (980) |
FI - Roll-forward of net assets
FI - Roll-forward of net assets measured at fair value on recurring basis (Details 7) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr (210) | SFr (3,864) |
Transfers in, net assets/liabilities | (1,709) | (717) |
Transfers out, net assets/liabilities | 853 | 4,664 |
Purchases, net assets/liabilities | 916 | 4,074 |
Sales, net assets/liabilities | (1,762) | (3,870) |
Issuances, net assets/liabilities | (2,018) | (5,030) |
Settlements, net assets/liabilities | 2,303 | 3,056 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (97) | 570 |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | (1,312) | 560 |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | 4 | (1) |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | 311 | (21) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | (29) | 35 |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | (205) | 243 |
Foreign currency translation impact, net assets/liabilities | 97 | (181) |
Balance at beginning of period, net assets/liabilities | (2,858) | (482) |
Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (232) | 273 |
Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (582) | 1,044 |
Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (246) | (77) |
Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr (1,060) | SFr 1,240 |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Financial instruments | ||
Cash and Due from Banks | SFr 127 | SFr 198 |
Interest-bearing deposits with banks | 16 | 14 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683 | 40,793 |
Loans | 4,556 | 7,358 |
Other assets | 5,447 | 8,947 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1,330) | (14,133) |
Short-term borrowings | (4,409) | (6,783) |
Long-term debt | (40,071) | (57,919) |
Other liabilities | (1,632) | (2,286) |
Aggregate fair value | ||
Loans | ||
Non-interest-earning loans | 554 | 733 |
Financial instruments | ||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683 | 40,793 |
Loans | 4,556 | 7,358 |
Other assets | 5,014 | 8,544 |
Due to banks and customer deposits | (316) | (458) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1,330) | (14,133) |
Short-term borrowings | (4,409) | (6,783) |
Long-term debt | (40,071) | (57,919) |
Other liabilities | (428) | (888) |
Aggregate unpaid principal | ||
Loans | ||
Non-interest-earning loans | 2,099 | 2,213 |
Financial instruments | ||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,663 | 40,665 |
Loans | 5,513 | 8,241 |
Other assets | 7,063 | 10,937 |
Due to banks and customer deposits | (388) | (562) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1,342) | (14,024) |
Short-term borrowings | (4,445) | (6,892) |
Long-term debt | (45,985) | (71,891) |
Other liabilities | (573) | (1,043) |
Difference | ||
Loans | ||
Non-interest-earning loans, Difference | (1,545) | (1,480) |
Financial instruments | ||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 20 | 128 |
Loans | (957) | (883) |
Other assets | (2,049) | (2,393) |
Due to banks and customer deposits | 72 | 104 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 12 | (109) |
Short-term borrowings | 36 | 109 |
Long-term debt | 5,914 | 13,972 |
Other liabilities | SFr 145 | SFr 155 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 11) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | SFr 772 | SFr 412 |
Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (186) | (11) |
Net gains/(losses) of which related to credit risk - on assets | 0 | (3) |
Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 55 | (24) |
Net gains/(losses) of which related to credit risk - on assets | (79) | (224) |
Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 2 | 183 |
Net gains/(losses) of which related to credit risk - on assets | (86) | (85) |
Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (97) | (43) |
Net gains/(losses) of which related to credit risk - on liabilities | (3) | (1) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (93) | (32) |
Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (187) | 1,069 |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | 1 |
Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 10,430 | 6,098 |
Net gains/(losses) of which related to credit risk - on liabilities | 2 | 1 |
Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (188) | (66) |
Net gains/(losses) of which related to credit risk - on liabilities | SFr (210) | SFr (158) |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 14) | Jun. 30, 2023 CHF (SFr) | Dec. 31, 2022 CHF (SFr) |
Assets | ||
Cash and Due from Banks | SFr 127,000,000 | SFr 198,000,000 |
Interest-bearing deposits with banks | 16,000,000 | 14,000,000 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683,000,000 | 40,793,000,000 |
Securities received as collateral | 2,220,000,000 | 2,978,000,000 |
Trading assets | 37,238,000,000 | 65,955,000,000 |
Available-for-sale Securities, Debt Securities | 854,000,000 | 796,000,000 |
Other investments | 2,405,000,000 | 3,730,000,000 |
Loans | 4,556,000,000 | 7,358,000,000 |
Other intangible assets (mortgage servicing rights), at fair value | 337,000,000 | 403,000,000 |
Other assets | 5,447,000,000 | 8,947,000,000 |
Recurring basis | ||
Assets | ||
Cash and Due from Banks | 127,000,000 | 198,000,000 |
Interest-bearing deposits with banks | 16,000,000 | 14,000,000 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,683,000,000 | 40,793,000,000 |
Securities received as collateral | 2,220,000,000 | 2,978,000,000 |
Trading assets | 37,238,000,000 | 65,955,000,000 |
Available-for-sale Securities, Debt Securities | 854,000,000 | 796,000,000 |
Other investments | 2,405,000,000 | 3,730,000,000 |
Loans | 4,556,000,000 | 7,358,000,000 |
Loans - of which commercial and industrial | 2,147,000,000 | 2,681,000,000 |
Loans - of which financial institutions | 1,097,000,000 | 2,989,000,000 |
Loans - of which government and public institutions | 1,129,000,000 | 1,366,000,000 |
Other intangible assets (mortgage servicing rights), at fair value | 337,000,000 | 403,000,000 |
Other assets | 5,447,000,000 | 8,947,000,000 |
Other assets - of which loans held-for-sale | 4,473,000,000 | 7,813,000,000 |
Total assets at fair value | 84,883,000,000 | 131,172,000,000 |
Recurring basis | Other equity investments | ||
Assets | ||
Other investments | 1,779,000,000 | 3,070,000,000 |
Recurring basis | Life finance instruments | ||
Assets | ||
Other investments | 510,000,000 | 587,000,000 |
Recurring basis | Debt securities | ||
Assets | ||
Trading assets | 19,452,000,000 | 37,614,000,000 |
Recurring basis | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 13,196,000,000 | 15,800,000,000 |
Recurring basis | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 4,064,000,000 | 8,160,000,000 |
Recurring basis | Debt securities | RMBS | ||
Assets | ||
Trading assets | 1,156,000,000 | 10,866,000,000 |
Recurring basis | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 753,000,000 | 1,354,000,000 |
Recurring basis | Equity securities | ||
Assets | ||
Trading assets | 7,435,000,000 | 13,182,000,000 |
Recurring basis | Derivative instruments | ||
Assets | ||
Trading assets | 7,552,000,000 | 11,143,000,000 |
Recurring basis | Other | ||
Assets | ||
Trading assets | 2,799,000,000 | 4,016,000,000 |
Recurring basis | Level 3 | ||
Assets | ||
Cash and Due from Banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 |
Securities received as collateral | 0 | 0 |
Trading assets | 2,712,000,000 | 3,828,000,000 |
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other investments | 1,942,000,000 | 3,313,000,000 |
Loans | 815,000,000 | 1,040,000,000 |
Loans - of which commercial and industrial | 219,000,000 | 300,000,000 |
Loans - of which financial institutions | 287,000,000 | 398,000,000 |
Loans - of which government and public institutions | 219,000,000 | 254,000,000 |
Other intangible assets (mortgage servicing rights), at fair value | 337,000,000 | 359,000,000 |
Other assets | 907,000,000 | 773,000,000 |
Other assets - of which loans held-for-sale | 799,000,000 | 648,000,000 |
Total assets at fair value | 6,713,000,000 | 9,313,000,000 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Loans - of which commercial and industrial | 55,000,000 | 124,000,000 |
Loans - of which financial institutions | 201,000,000 | 282,000,000 |
Loans - of which government and public institutions | 125,000,000 | 158,000,000 |
Other assets - of which loans held-for-sale | SFr 281,000,000 | SFr 258,000,000 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 252 | 280 |
Loans - of which financial institutions, measurement input | 236 | 242 |
Loans - of which government and public institutions, measurement input | 231 | 534 |
Other assets - of which loans held-for-sale, measurement input | 244 | 299 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 3,263 | 2,596 |
Loans - of which financial institutions, measurement input | 544 | 1,278 |
Loans - of which government and public institutions, measurement input | 650 | 1,339 |
Other assets - of which loans held-for-sale, measurement input | 3,263 | 594 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 432 | 756 |
Loans - of which financial institutions, measurement input | 314 | 497 |
Loans - of which government and public institutions, measurement input | 357 | 680 |
Other assets - of which loans held-for-sale, measurement input | 527 | 368 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | ||
Assets | ||
Other assets - of which loans held-for-sale, measurement input | 65 | 55 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | ||
Assets | ||
Other assets - of which loans held-for-sale, measurement input | 65 | 55 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | ||
Assets | ||
Other assets - of which loans held-for-sale, measurement input | 65 | 55 |
Recurring basis | Level 3 | Price | ||
Assets | ||
Loans - of which commercial and industrial | SFr 146,000,000 | SFr 153,000,000 |
Loans - of which financial institutions | 86,000,000 | 115,000,000 |
Loans - of which government and public institutions | 94,000,000 | 96,000,000 |
Other assets - of which loans held-for-sale | SFr 5,000,000 | SFr 14,000,000 |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 4 | 6 |
Loans - of which financial institutions, measurement input | 23 | 22 |
Loans - of which government and public institutions, measurement input | 36 | 35 |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 100 | 100 |
Loans - of which financial institutions, measurement input | 63 | 72 |
Loans - of which government and public institutions, measurement input | 53 | 42 |
Other assets - of which loans held-for-sale, measurement input | 53 | 79 |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 38 | 53 |
Loans - of which financial institutions, measurement input | 56 | 66 |
Loans - of which government and public institutions, measurement input | 37 | 36 |
Other assets - of which loans held-for-sale, measurement input | 34 | 59 |
Recurring basis | Level 3 | Market comparable | ||
Assets | ||
Loans - of which commercial and industrial | SFr 17,000,000 | SFr 22,000,000 |
Other assets - of which loans held-for-sale | SFr 494,000,000 | SFr 363,000,000 |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 75 | 74 |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 75 | 74 |
Other assets - of which loans held-for-sale, measurement input | 200 | 145 |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Loans - of which commercial and industrial, measurement input | 75 | 74 |
Other assets - of which loans held-for-sale, measurement input | 77 | 78 |
Recurring basis | Level 3 | Other equity investments | ||
Assets | ||
Other investments | SFr 1,428,000,000 | SFr 2,725,000,000 |
Recurring basis | Level 3 | Other equity investments | Option model | ||
Assets | ||
Other investments | 1,000,000 | |
Recurring basis | Level 3 | Other equity investments | Option model | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Other investments | 98 | |
Recurring basis | Level 3 | Other equity investments | Option model | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Other investments | 693 | |
Recurring basis | Level 3 | Other equity investments | Option model | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Other investments | 396 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Other investments | 46,000,000 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | ||
Assets | ||
Other investments | 8 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | ||
Assets | ||
Other investments | 8 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | ||
Assets | ||
Other investments | 8 | |
Recurring basis | Level 3 | Other equity investments | Price | ||
Assets | ||
Other investments | 147,000,000 | 174,000,000 |
Recurring basis | Level 3 | Other equity investments | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Other investments | 0 | 1 |
Recurring basis | Level 3 | Other equity investments | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Other investments | 524 | 15 |
Recurring basis | Level 3 | Other equity investments | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Other investments | 101 | 13 |
Recurring basis | Level 3 | Other equity investments | Market comparable | ||
Assets | ||
Other investments | 1,250,000,000 | 2,443,000,000 |
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Other investments | 0 | 0 |
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Other investments | 100 | 275 |
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Other investments | 8 | 109 |
Recurring basis | Level 3 | Life finance instruments | ||
Assets | ||
Other investments | 510,000,000 | 587,000,000 |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | ||
Assets | ||
Other investments | 2 | 2 |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | ||
Assets | ||
Other investments | 14 | 15 |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | ||
Assets | ||
Other investments | 6 | 6 |
Recurring basis | Level 3 | Debt securities | ||
Assets | ||
Trading assets | 802,000,000 | 1,211,000,000 |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | ||
Assets | ||
Trading assets | 48,000,000 | 86,000,000 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | ||
Assets | ||
Trading assets | 504,000,000 | 413,000,000 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Trading assets | SFr 97,000,000 | SFr 118,000,000 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 35 | 10 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 750 | 7,589 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 407 | 620 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | 0 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 101 | 101 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 52 | 53 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | ||
Assets | ||
Trading assets | SFr 349,000,000 | SFr 216,000,000 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 1 | 0 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 11,600 | 11,640 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 6,179 | 2,203 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 30 | 30 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 126 | 126 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 97 | 87 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | ||
Assets | ||
Trading assets | SFr 58,000,000 | SFr 75,000,000 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 100 | 1 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 100 | 218 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 100 | 29 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | 0 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 97 | 101 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 49 | 51 |
Recurring basis | Level 3 | Debt securities | RMBS | ||
Assets | ||
Trading assets | SFr 87,000,000 | SFr 444,000,000 |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 3 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 33 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 12 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | ||
Assets | ||
Trading assets | 159,000,000 | SFr 216,000,000 |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Trading assets | SFr 85,000,000 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 8 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 20 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 15 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Market comparable | ||
Assets | ||
Trading assets | SFr 43,000,000 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Market comparable | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 26 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Market comparable | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 100 | |
Recurring basis | Level 3 | Debt securities | Collateralized debt obligations | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 81 | |
Recurring basis | Level 3 | Equity securities | ||
Assets | ||
Trading assets | SFr 153,000,000 | 222,000,000 |
Recurring basis | Level 3 | Derivative instruments | ||
Assets | ||
Trading assets | 1,195,000,000 | 1,661,000,000 |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | ||
Assets | ||
Trading assets | 47,000,000 | 671,000,000 |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | ||
Assets | ||
Trading assets | SFr 662,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Contingent probability [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Contingent probability [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Contingent probability [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Mean reversion [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 25 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Mean reversion [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 25 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Mean reversion [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 25 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 14 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 19 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 17 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | (3) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 1 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | (1) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Trading assets | SFr 1,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 110 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 103 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | ||
Assets | ||
Trading assets | 25,000,000 | SFr 17,000,000 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | ||
Assets | ||
Trading assets | 488,000,000 | 295,000,000 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | ||
Assets | ||
Trading assets | SFr 373,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 50 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 69 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 78 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 1 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 1 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 1 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 5 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 124 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 37 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | ||
Assets | ||
Trading assets | SFr 94,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 125 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 19 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 95 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | ||
Assets | ||
Trading assets | SFr 140,000,000 | 130,000,000 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | ||
Assets | ||
Trading assets | SFr 495,000,000 | SFr 548,000,000 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 2 | 2 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 13 | 13 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 6 | 6 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 74 | 74 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 139 | 139 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 99 | 99 |
Recurring basis | Level 3 | Other | ||
Assets | ||
Trading assets | SFr 562,000,000 | SFr 734,000,000 |
Recurring basis | Level 3 | Other | Option model | ||
Assets | ||
Trading assets | SFr 20,000,000 | SFr 25,000,000 |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | 0 |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 70 | 70 |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 6 | 6 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | ||
Trading assets | SFr 436,000,000 | SFr 458,000,000 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 3 | 3 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 12 | 13 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 6 | 6 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 30 | 30 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 30 | 30 |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 30 | 30 |
Recurring basis | Level 3 | Other | Market comparable | ||
Assets | ||
Trading assets | SFr 104,000,000 | SFr 251,000,000 |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price in percent [Member] | Minimum | ||
Assets | ||
Trading assets, measurement input | 0 | 0 |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price in percent [Member] | Maximum | ||
Assets | ||
Trading assets, measurement input | 104 | 109 |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | ||
Assets | ||
Trading assets, measurement input | 12 | 27 |
FI - Quantitative information_2
FI - Quantitative information about level 3 liabilities at fair value (Details 15) SFr in Millions | Jun. 30, 2023 CHF (SFr) | Dec. 31, 2022 CHF (SFr) |
Liabilities | ||
Due to banks | SFr 101 | SFr 490 |
Customer deposits | 1,767 | 2,464 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,330 | 14,133 |
Obligation to return securities received as collateral | 2,220 | 2,978 |
Trading liabilities | 12,933 | 18,337 |
Short-term borrowings | 4,409 | 6,783 |
Long-term debt | 40,071 | 57,919 |
Other liabilities | 1,632 | 2,286 |
Recurring basis | ||
Liabilities | ||
Due to banks | 101 | 490 |
Customer deposits | 1,767 | 2,464 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,330 | 14,133 |
Obligation to return securities received as collateral | 2,220 | 2,978 |
Trading liabilities | 12,933 | 18,337 |
Short-term borrowings | 4,409 | 6,783 |
Long-term debt | 40,071 | 57,919 |
Other liabilities | 1,632 | 2,286 |
Total liabilities at fair value | 64,463 | 105,390 |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | 7,218 | 11,136 |
Recurring basis | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 25,595 | 27,716 |
Recurring basis | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | 4,112 | 4,689 |
Recurring basis | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | 7,512 | |
Recurring basis | Debt securities | ||
Liabilities | ||
Trading liabilities | 2,274 | 5,461 |
Recurring basis | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 1,708 | 3,422 |
Recurring basis | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 509 | 2,011 |
Recurring basis | Equity securities | ||
Liabilities | ||
Trading liabilities | 3,610 | 3,706 |
Recurring basis | Short positions | ||
Liabilities | ||
Trading liabilities | 5,884 | 9,167 |
Recurring basis | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 6,730 | 8,945 |
Recurring basis | Other | ||
Liabilities | ||
Trading liabilities | 319 | 225 |
Recurring basis | Level 3 | ||
Liabilities | ||
Due to banks | 0 | 0 |
Customer deposits | 274 | 252 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 |
Obligation to return securities received as collateral | 0 | 0 |
Trading liabilities | 2,461 | 1,881 |
Short-term borrowings | 204 | 453 |
Long-term debt | 6,355 | 6,734 |
Other liabilities | 277 | 203 |
Total liabilities at fair value | 9,571 | 9,523 |
Recurring basis | Level 3 | Option model | ||
Liabilities | ||
Short-term borrowings | SFr 119 | SFr 338 |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 50 | 50 |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 100 | 100 |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 69 | 76 |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 0 | (50) |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 100 | 100 |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 78 | 75 |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 5 | 5 |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 124 | 148 |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 43 | 27 |
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 88 | |
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 2,267 | |
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 372 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | ||
Liabilities | ||
Short-term borrowings | SFr 65 | SFr 8 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 4 | 142 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 118 | 276 |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 17 | 267 |
Recurring basis | Level 3 | Price | ||
Liabilities | ||
Short-term borrowings | SFr 4 | SFr 94 |
Recurring basis | Level 3 | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 1,296 | |
Recurring basis | Level 3 | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 1,296 | |
Recurring basis | Level 3 | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 1,296 | |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Liabilities | ||
Short-term borrowings, measurement input | 20 | 20 |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Liabilities | ||
Short-term borrowings, measurement input | 20 | 20 |
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Liabilities | ||
Short-term borrowings, measurement input | 20 | 20 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities | ||
Long-term debt | SFr 428 | SFr 439 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | ||
Liabilities | ||
Long-term debt | 4,263 | 4,307 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | ||
Liabilities | ||
Long-term debt | SFr 3,658 | SFr 3,793 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 50 | 50 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 100 | 100 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 69 | 76 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 100 | 27 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 216 | 358 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 168 | 326 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | (10) | (50) |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 100 | 100 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 78 | 75 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 1 | 0 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 1 | 2 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 1 | 0 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 25 | 25 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 25 | 25 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 25 | 25 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 0 | 0 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 124 | 148 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 42 | 27 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 88 | 389 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 2,267 | 416 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 372 | 412 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | ||
Liabilities | ||
Long-term debt | SFr 578 | SFr 508 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 5 | 10 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 363 | 430 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 104 | 142 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | ||
Liabilities | ||
Long-term debt | SFr 4 | SFr 6 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 12 | 17 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 12 | 17 |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 12 | 17 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | ||
Liabilities | ||
Long-term debt | SFr 1,564 | SFr 1,728 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | ||
Liabilities | ||
Long-term debt | SFr 342 | SFr 358 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 50 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 100 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 76 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 30 | 50 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 707 | 770 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 253 | 317 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 8 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 8 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 8 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | ||
Liabilities | ||
Long-term debt | SFr 1,222 | SFr 1,370 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Liabilities | ||
Long-term debt, measurement input | 0 | 8 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Liabilities | ||
Long-term debt, measurement input | 121 | 8 |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Liabilities | ||
Long-term debt, measurement input | 9 | 8 |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | ||
Liabilities | ||
Long-term debt | SFr 28 | |
Recurring basis | Level 3 | Debt securities | ||
Liabilities | ||
Trading liabilities | SFr 1 | 1 |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | ||
Liabilities | ||
Trading liabilities | 0 | 0 |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | ||
Liabilities | ||
Trading liabilities | 1 | 1 |
Recurring basis | Level 3 | Equity securities | ||
Liabilities | ||
Trading liabilities | 9 | 15 |
Recurring basis | Level 3 | Short positions | ||
Liabilities | ||
Trading liabilities | 10 | 16 |
Recurring basis | Level 3 | Derivative instruments | ||
Liabilities | ||
Trading liabilities | 2,132 | 1,640 |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | ||
Liabilities | ||
Trading liabilities | 161 | 118 |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | ||
Liabilities | ||
Trading liabilities | 1 | 1 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | ||
Liabilities | ||
Trading liabilities | 239 | 242 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | ||
Liabilities | ||
Trading liabilities | SFr 10 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 47 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 1,528 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 194 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | ||
Liabilities | ||
Trading liabilities | SFr 115 | SFr 162 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 6 | 3 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 752 | 2,149 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 176 | 341 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 6 | 6 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 31 | 17 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 11 | 11 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 25 | 10 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 100 | 100 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 73 | 69 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Price | ||
Liabilities | ||
Trading liabilities | SFr 114 | SFr 3 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Price | Measurement Input, Price in percent [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 99 | 74 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Price | Measurement Input, Price in percent [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 101 | 102 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Price | Measurement Input, Price in percent [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 100 | 101 |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | ||
Liabilities | ||
Trading liabilities | SFr 9 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price in percent [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 71 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price in percent [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 101 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 86 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | ||
Liabilities | ||
Trading liabilities | SFr 1,452 | SFr 1,083 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | ||
Liabilities | ||
Trading liabilities | SFr 1,416 | SFr 1,040 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 0 | (50) |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 100 | 100 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 78 | 71 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 2 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 5 | 5 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 124 | 148 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 42 | 29 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 0 | 0 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 8 | 13 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 4 | 5 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | ||
Liabilities | ||
Trading liabilities | SFr 20 | SFr 31 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 0 | 0 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 1,562 | 1,197 |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 48 | 34 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | ||
Liabilities | ||
Trading liabilities | SFr 279 | SFr 196 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 2 | 2 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 17 | 18 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 5 | 6 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Minimum | ||
Liabilities | ||
Trading liabilities, measurement input | 74 | 74 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Maximum | ||
Liabilities | ||
Trading liabilities, measurement input | 103 | 103 |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, UK Mortality Rate [Member] | Weighted average | ||
Liabilities | ||
Trading liabilities, measurement input | 97 | 97 |
Recurring basis | Level 3 | Other | ||
Liabilities | ||
Trading liabilities | SFr 319 | SFr 225 |
FI - Carrying value and fair va
FI - Carrying value and fair value not held at fair value (Details 16) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Jun. 30, 2023 | ||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 40,793 | SFr 31,683 | |
Loans | 7,358 | 4,556 | |
Other assets | 8,947 | 5,447 | |
Prior period reclassification adjustment | [1] | 133,900 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,133 | 1,330 | |
Short-term borrowings | 6,783 | 4,409 | |
Long-term debt | 57,919 | 40,071 | |
Other liabilities | 2,286 | 1,632 | |
Carrying value of financial instruments not carried at fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 18,005 | 21,086 | |
Investment securities | 921 | 1,498 | |
Loans | 256,825 | 242,703 | |
Other assets | 91,451 | 116,172 | |
Financial liabilities | |||
Due to banks and deposits | 243,506 | 189,864 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 6,238 | 1,619 | |
Short-term borrowings | 7,705 | 71,675 | |
Long-term debt | 92,742 | 94,507 | |
Other liabilities | 8,551 | 7,388 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 18,005 | 21,085 | |
Investment securities | 911 | 1,469 | |
Loans | 253,778 | 235,941 | |
Other assets | 91,272 | 116,186 | |
Financial liabilities | |||
Due to banks and deposits | 243,410 | 189,802 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 6,238 | 1,619 | |
Short-term borrowings | 7,703 | 71,675 | |
Long-term debt | 86,962 | 94,242 | |
Other liabilities | 8,507 | 7,399 | |
Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Investment securities | 911 | 1,310 | |
Loans | 0 | 0 | |
Other assets | 68,104 | 100,567 | |
Financial liabilities | |||
Due to banks and deposits | 149,696 | 114,038 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 18,005 | 21,085 | |
Investment securities | 0 | 159 | |
Loans | 107,101 | 97,286 | |
Other assets | 20,246 | 12,094 | |
Financial liabilities | |||
Due to banks and deposits | 93,714 | 75,764 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 6,238 | 1,619 | |
Short-term borrowings | 7,703 | 71,675 | |
Long-term debt | 73,596 | 90,982 | |
Other liabilities | 7,984 | 7,093 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Investment securities | 0 | 0 | |
Loans | 146,677 | 138,655 | |
Other assets | 2,922 | 3,525 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 13,366 | 3,260 | |
Other liabilities | SFr 523 | SFr 306 | |
[1]Credit Suisse has aligned the fair value levelling of the Swiss accrual loan book to that of UBS, resulting in a reclassification of CHF 133.9 billion from level 2 to level 3. |
FI - Own credit gains_(losses)
FI - Own credit gains/(losses) on fair value option elected instruments (Details 17) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Financial instruments | ||
Gains/(losses) recorded into AOCI | SFr 4,511 | SFr 3,985 |
Gains/(losses) recorded into AOCI, Cumulatively | (28) | |
Gains/(losses) recorded into AOCI transferred to net income | (9,172) | 17 |
Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (26) | 41 |
Gains/(losses) recorded into AOCI, Cumulatively | (25) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (33) | 0 |
Gains/(losses) recorded into AOCI, Cumulatively | (59) | |
Gains/(losses) recorded into AOCI transferred to net income | 2 | 0 |
Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 4,570 | 3,944 |
Gains/(losses) recorded into AOCI, Cumulatively | 56 | |
Gains/(losses) recorded into AOCI transferred to net income | (9,174) | 17 |
Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1,583) | 1,476 |
Gains/(losses) recorded into AOCI, Cumulatively | (164) | |
Gains/(losses) recorded into AOCI transferred to net income | (126) | 17 |
Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 6,454 | 2,041 |
Gains/(losses) recorded into AOCI, Cumulatively | 36 | |
Gains/(losses) recorded into AOCI transferred to net income | SFr (9,048) | SFr 0 |
Assets pledged and collateral_2
Assets pledged and collateral (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Assets pledged and collateral | ||
Total assets pledged or assigned as collateral | SFr 113,063 | SFr 63,111 |
of which encumbered | 14,501 | 25,445 |
Fair value of collateral received with the right to sell or repledge | 91,345 | 150,198 |
of which sold or repledged | SFr 32,009 | SFr 75,819 |
Litigation (Details)
Litigation (Details) $ in Thousands, € in Millions, £ in Millions, SFr in Millions | 6 Months Ended | |||
Jun. 30, 2023 CHF (SFr) | Jun. 30, 2023 USD ($) | Jun. 30, 2023 EUR (€) | Jun. 30, 2023 GBP (£) | |
Pending Litigation | ||||
Litigation disclosures | ||||
Net litigation provisions recorded | SFr | SFr 1,480 | |||
Pending Litigation | Minimum | ||||
Litigation provisions | ||||
Range of possible losses that are not covered by existing provisions | SFr | 0 | |||
Pending Litigation | Maximum | ||||
Litigation provisions | ||||
Range of possible losses that are not covered by existing provisions | SFr | SFr 2,700 | |||
Mozambique matter | United States Department of Justice (DOJ) | Penalty, basic [Member] | ||||
Litigation disclosures | ||||
of which fines | $ 175,500 | |||
Mozambique matter | United States Department of Justice (DOJ) | Penalty, disgorgement [Member] | ||||
Litigation disclosures | ||||
of which fines | 34,000 | |||
Mozambique matter | United States Department of Justice (DOJ) | Penalty, pre-judgment interest [Member] | ||||
Litigation disclosures | ||||
of which fines | 65,000 | |||
Mozambique matter | United States Department of Justice (DOJ) | Minimum | Penalty, basic [Member] | ||||
Litigation disclosures | ||||
Loss contingency, damages paid, value | 175,600 | |||
Mozambique matter | US District Court for the Eastern District of New York (EDNY) | Penalty, final [Member] | ||||
Litigation disclosures | ||||
of which restitution | 22,600 | |||
Mozambique matter | US Department of Justice (DOJ) and Securities and Exchange Commission (SEC) | ||||
Litigation disclosures | ||||
of which fines | $ 275,000 | |||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Government and regulatory related | United States Department of Justice (DOJ) | ||||
Litigation disclosures | ||||
Litigation, Increase of Consumer Relief per Annum | 5% | 5% | 5% | 5% |
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-5 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | $ 500,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-1, 2006-3 and 2006-4 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 730,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Loan Trust Series 2006-HE7 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 374,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Asset Trust Series 2006-8 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 436,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Asset Trust Series 2007-1 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 420,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Asset Trust Series 2007-2 | New York state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 495,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Asset Trust Series 2007-3 | Minnesota state court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 206,000 | |||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-1, 2006-3, 2006-4 and 2006-5 | New York state court | ||||
Litigation disclosures | ||||
Litigation Settlement, Amount Awarded to Other Party | 500,000 | |||
Credit Suisse AG | Customer acount matters, against former relationship manager | Geneva Prosecutor's Office | ||||
Litigation disclosures | ||||
Estimated damages | 130,000 | |||
Credit Suisse AG | Litigation Bulgarian former clients matter | Swiss Federal Criminal Court | ||||
Litigation disclosures | ||||
Estimated damages | SFr | SFr 19 | |||
of which fines | SFr | 2 | |||
Seized client assets | SFr | SFr 12 | |||
Credit Suisse AG and certain affiliates | Mortgage-related matters | Litigation, Plaintiff, Loreley | English Court | Minimum | ||||
Litigation disclosures | ||||
Estimated damages | 100,000 | |||
Credit Suisse Group AG, Credit Suisse AG, Credit Suisse Securities (Europe) Limited | Rates Related Matters - regulatory matters - foreign exchange trading business | European Commission | ||||
Litigation disclosures | ||||
of which fines | € | € 83.3 | |||
Credit Suisse Group AG, Credit Suisse Securities (Europe) Limited | Rates Related Matters - regulatory matters - SSA bonds trading business | European Commission | ||||
Litigation disclosures | ||||
of which fines | € | € 11.9 | |||
CSSEL, CSI, Credit Suisse AG, London Branch | Mozambique matter | UK Financial Services Authority | ||||
Litigation disclosures | ||||
Debt Relief | 200,000 | |||
CSSEL, CSI, Credit Suisse AG, London Branch | Mozambique matter | UK Financial Services Authority | Minimum | Penalty, basic [Member] | ||||
Litigation disclosures | ||||
Loss contingency, damages paid, value | 200,000 | |||
Credit Suisse Life Bermuda Ltd [Member] | Customer acount matters, against former relationship manager | Supreme Court of Bermuda | ||||
Litigation disclosures | ||||
Estimated damages | $ 607,350 | |||
Bermuda Statutory Rate Of Interest | 3.50% | 3.50% | 3.50% | 3.50% |
UBS Group, Credit Suisse AG, Credit Suisse Holdings (USA) and Credit Suisse AG, New York Branch | Archegos Capital Management | Board of Governors of the Federal Reserve System (Fed) | Penalty, final [Member] | ||||
Litigation disclosures | ||||
of which fines | $ 269,000 | |||
Credit Suisse Trust Limited, a Credit Suisse AG affiliate | Customer acount matters, against former relationship manager | Signapore International Commercial Court | ||||
Litigation disclosures | ||||
Estimated damages | 742,730 | |||
Credit Suisse Securities LLC and certain of its affiliates | Bank loan litigation | Highland Capital Management LP | Texas State Court | Original [Member] | ||||
Litigation disclosures | ||||
Litigation Settlement, Amount Awarded to Other Party | 287,000 | |||
Credit Suisse Securities LLC and certain of its affiliates | Bank loan litigation | Highland Capital Management LP | Texas State Court | Revised [Member] | ||||
Litigation disclosures | ||||
Litigation Settlement, Amount Awarded to Other Party | 121,000 | |||
Credit Suisse Securities LLC and certain of its affiliates | Bank loan litigation | Highland Capital Management LP | Texas supreme court | Reversed [Member] | ||||
Litigation disclosures | ||||
Litigation Settlement, Amount Awarded to Other Party | $ 212,000 | |||
Credit Suisse International and Credit Suisse Securities (Europe) Limited | Archegos Capital Management | Prudential Regulation Authority (PRA) | Penalty, final [Member] | ||||
Litigation disclosures | ||||
of which fines | £ | £ 87 |