Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Entity Information [Line Items] | |
Entity registrant name | UBS Group AG |
Entity central index key | 0001610520 |
Entity current reporting status | Yes |
Entity voluntary filers | No |
Current fiscal year end date | --12-31 |
Entity filer category | Large Accelerated Filer |
Entity well known seasoned issuer | No |
Entity common stock shares outstanding | 3,855,634,749 |
Document type | 20-F |
Document period end date | Dec. 31, 2018 |
Amendment flag | false |
Document fiscal year focus | 2018 |
Document fiscal period focus | FY |
Entity emerging growth company | false |
Entity shell company | false |
UBS AG | |
Entity Information [Line Items] | |
Entity registrant name | UBS AG |
Entity central index key | 0001114446 |
Entity current reporting status | Yes |
Entity voluntary filers | No |
Current fiscal year end date | --12-31 |
Entity filer category | Non-accelerated Filer |
Entity well known seasoned issuer | No |
Entity common stock shares outstanding | 3,858,408,466 |
Document type | 20-F |
Document period end date | Dec. 31, 2018 |
Amendment flag | false |
Document fiscal year focus | 2018 |
Document fiscal period focus | FY |
Entity emerging growth company | false |
Entity shell company | false |
Consolidated Income Statement
Consolidated Income Statement - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Income Statement [Line Items] | ||||||
Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [1] | $ 10,100 | $ 10,422 | $ 10,379 | ||
Interest expense from financial instruments measured at amortized cost | [1] | (6,391) | (5,404) | (4,976) | ||
Interest income from financial instruments measured at fair value through profit or loss | [1] | 6,968 | 4,056 | 3,579 | ||
Interest expense from financial instruments measured at fair value through profit or loss | [1] | (4,653) | (2,418) | (2,495) | ||
Net interest income | 6,025 | 6,656 | 6,487 | |||
Other net income from fair value changes on financial instruments | 5,984 | 5,065 | 5,023 | |||
Credit loss (expense) / recovery | [2] | (118) | (131) | (38) | ||
Fee and commission income | [3],[4] | 19,598 | 19,362 | 18,374 | ||
Fee and commission expense | [4] | (1,703) | (1,840) | (1,781) | ||
Net fee and commission income | [4] | 17,895 | 17,522 | 16,593 | ||
Other income | 427 | 511 | 663 | |||
Total operating income | [2] | 30,213 | 29,622 | [5] | 28,729 | [5] |
Personnel expenses | [2] | 16,132 | 16,199 | 15,913 | ||
General and administrative expenses | [2] | 6,797 | 6,949 | 7,517 | ||
Depreciation and impairment of property, equipment and software | [2] | 1,228 | 1,053 | 997 | ||
Amortization and impairment of intangible assets | [2] | 65 | 71 | 93 | ||
Total operating expenses | [2] | 24,222 | 24,272 | 24,519 | ||
Operating profit / (loss) before tax | [2] | 5,991 | 5,351 | 4,209 | ||
Tax expense / (benefit) | [2] | 1,468 | 4,305 | 777 | ||
Net profit / (loss) | [2],[6] | 4,522 | 1,046 | 3,432 | ||
Net profit / (loss) attributable to non-controlling interests | 7 | 77 | 84 | |||
Net profit / (loss) attributable to shareholders | $ 4,516 | $ 969 | $ 3,348 | |||
Earnings per share | ||||||
Basic | $ 1.21 | $ 0.26 | $ 0.9 | |||
Diluted | $ 1.18 | $ 0.25 | $ 0.88 | |||
UBS AG | ||||||
Income Statement [Line Items] | ||||||
Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [1] | $ 10,121 | $ 10,437 | $ 10,375 | ||
Interest expense from financial instruments measured at amortized cost | [1] | (6,494) | (5,468) | (5,002) | ||
Interest income from financial instruments measured at fair value through profit or loss | [1] | 6,974 | 4,056 | 3,579 | ||
Interest expense from financial instruments measured at fair value through profit or loss | [1] | (4,653) | (2,418) | (2,495) | ||
Net interest income | 5,949 | 6,607 | 6,457 | |||
Other net income from fair value changes on financial instruments | 5,977 | 5,067 | 5,018 | |||
Credit loss (expense) / recovery | [2] | (117) | (131) | (38) | ||
Fee and commission income | [7],[8] | 19,632 | 19,390 | 18,425 | ||
Fee and commission expense | [8] | (1,703) | (1,840) | (1,781) | ||
Net fee and commission income | [8] | 17,930 | 17,550 | 16,644 | ||
Other income | 905 | 952 | 749 | |||
Total operating income | [2] | 30,642 | 30,044 | [5] | 28,831 | [5] |
Personnel expenses | [2],[9] | 13,992 | 14,952 | 15,782 | ||
General and administrative expenses | [2] | 10,075 | 9,001 | 7,776 | ||
Depreciation and impairment of property, equipment and software | [2] | 1,052 | 945 | 992 | ||
Amortization and impairment of intangible assets | [2] | 65 | 71 | 93 | ||
Total operating expenses | [2] | 25,184 | 24,969 | 24,643 | ||
Operating profit / (loss) before tax | [2] | 5,458 | 5,076 | 4,188 | ||
Tax expense / (benefit) | [2] | 1,345 | 4,242 | 753 | ||
Net profit / (loss) | [2],[6] | 4,113 | 834 | 3,435 | ||
Net profit / (loss) attributable to preferred noteholders | 73 | 80 | ||||
Net profit / (loss) attributable to non-controlling interests | 7 | 4 | 4 | |||
Net profit / (loss) attributable to shareholders | $ 4,107 | $ 758 | $ 3,351 | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). | |||||
[2] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||
[3] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,525 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 97 million for Corporate Center. | |||||
[4] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||||
[5] | 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. | |||||
[6] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | |||||
[7] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,557 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 100 million for Corporate Center. | |||||
[8] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||||
[9] | The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | [1],[2] | $ 4,522 | $ 1,046 | $ 3,432 |
Total other comprehensive income | (292) | 1,068 | (2,181) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (855) | 838 | (1,200) | |
Total comprehensive income | 4,231 | 2,113 | 1,251 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (1) | 250 | (22) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (220) | 286 | (880) | |
Income tax relating to defined benefit plans | 276 | 11 | 51 | |
Subtotal defined benefit plans, net of tax | 56 | 296 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
OCI that may be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | (855) | 838 | (1,200) | |
OCI that will not be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | 563 | 229 | (981) | |
Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 4,516 | 969 | 3,348 | |
Total other comprehensive income | (290) | 818 | (2,159) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (855) | 838 | (1,200) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 565 | (20) | (959) | |
Total comprehensive income | 4,225 | 1,787 | 1,189 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 0 | 0 | 0 | |
Defined benefit plans | ||||
Subtotal defined benefit plans, net of tax | 56 | 296 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | ||||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (725) | 1,595 | (888) | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedges, before tax | 181 | (55) | 356 | |
Foreign currency translation differences on foreign operations reclassified to the income statement | 3 | 32 | 77 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedge reclassified to the income statement | 2 | (6) | (5) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | (2) | (2) | 2 | |
Subtotal foreign currency translation, net of tax | (541) | 1,564 | (458) | |
Financial assets measured at fair value through other comprehensive income | ||||
Net unrealized gains / (losses), before tax | (56) | 96 | 261 | |
Impairment charges reclassified to the income statement from equity | 0 | 15 | 5 | |
Realized gains reclassified to the income statement from equity | 0 | (209) | (376) | |
Realized losses reclassified to the income statement from equity | 0 | 14 | 26 | |
Income tax relating to net unrealized gains / (losses) | 12 | (6) | 26 | |
Subtotal financial assets measured at fair value through other comprehensive income, net of tax | (45) | (91) | (58) | |
Cash flow hedges of interest rate risk | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | (42) | 45 | 234 | |
Net realized (gains) / losses reclassified to the income statement from equity | (294) | (843) | (1,094) | |
Income tax related to cash flow hedges | 67 | 163 | 176 | |
Subtotal cash flow hedges, net of tax | (269) | (635) | (684) | |
Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | ||||
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (220) | 286 | (880) | |
Income tax relating to defined benefit plans | 276 | 11 | 51 | |
Subtotal defined benefit plans, net of tax | 56 | 296 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | 517 | (315) | (134) | |
Income tax relating to own credit on financial liabilities designated at fair value | (8) | (2) | 4 | |
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 7 | 77 | 84 | |
Total other comprehensive income | (1) | 250 | (22) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (1) | 250 | (22) | |
Total comprehensive income | 5 | 326 | 62 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (1) | 250 | (22) | |
Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | ||||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (1) | 250 | (22) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | (1) | 250 | (22) | |
UBS AG | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | [1],[2] | 4,113 | 834 | 3,435 |
Total other comprehensive income | (147) | 1,044 | (2,127) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (829) | 797 | (1,146) | |
Total comprehensive income | 3,967 | 1,878 | 1,308 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (1) | 250 | (22) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (70) | 308 | (880) | |
Income tax relating to defined benefit plans | 245 | 6 | 51 | |
Subtotal defined benefit plans, net of tax | 175 | 314 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
UBS AG | OCI that may be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | (829) | 797 | (1,146) | |
UBS AG | OCI that will not be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | 682 | 247 | (981) | |
UBS AG | Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 4,107 | 758 | 3,351 | |
Total other comprehensive income | (145) | 794 | (2,105) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (829) | 797 | (1,146) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 684 | (3) | (959) | |
Total comprehensive income | 3,961 | 1,552 | 1,246 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 0 | 0 | 0 | |
Defined benefit plans | ||||
Subtotal defined benefit plans, net of tax | 175 | 314 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
UBS AG | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | ||||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (701) | 1,553 | (835) | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedges, before tax | 181 | (55) | 356 | |
Foreign currency translation differences on foreign operations reclassified to the income statement | 4 | 32 | 77 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedge reclassified to the income statement | 2 | (6) | (5) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | (2) | (2) | 2 | |
Subtotal foreign currency translation, net of tax | (515) | 1,522 | (404) | |
Financial assets measured at fair value through other comprehensive income | ||||
Net unrealized gains / (losses), before tax | (56) | 96 | 261 | |
Impairment charges reclassified to the income statement from equity | 0 | 15 | 5 | |
Realized gains reclassified to the income statement from equity | 0 | (209) | (376) | |
Realized losses reclassified to the income statement from equity | 0 | 14 | 26 | |
Income tax relating to net unrealized gains / (losses) | 12 | (6) | 26 | |
Subtotal financial assets measured at fair value through other comprehensive income, net of tax | (45) | (91) | (58) | |
Cash flow hedges of interest rate risk | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | (42) | 45 | 234 | |
Net realized (gains) / losses reclassified to the income statement from equity | (294) | (843) | (1,094) | |
Income tax related to cash flow hedges | 67 | 163 | 176 | |
Subtotal cash flow hedges, net of tax | (269) | (635) | (684) | |
UBS AG | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | ||||
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (70) | 308 | (880) | |
Income tax relating to defined benefit plans | 245 | 6 | 51 | |
Subtotal defined benefit plans, net of tax | 175 | 314 | (829) | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | 517 | (315) | (134) | |
Income tax relating to own credit on financial liabilities designated at fair value | (8) | (2) | 4 | |
Subtotal own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | |
UBS AG | Comprehensive income attributable to preferred noteholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 0 | 73 | 80 | |
Total other comprehensive income | 0 | 247 | (21) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 247 | (21) | |
Total comprehensive income | 0 | 320 | 59 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 247 | (21) | ||
UBS AG | Comprehensive income attributable to preferred noteholders | OCI that will not be reclassified to the income statement | ||||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 0 | 247 | (21) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | 0 | 247 | (21) | |
UBS AG | Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 7 | 4 | 4 | |
Total other comprehensive income | (1) | 2 | (1) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (1) | 2 | (1) | |
Total comprehensive income | 5 | 6 | 3 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (1) | 2 | (1) | |
UBS AG | Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | ||||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (1) | 2 | (1) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | $ (1) | $ 2 | $ (1) | |
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | |||
Assets | ||||||||
Cash and balances at central banks | $ 108,370 | $ 90,045 | $ 90,045 | $ 105,883 | ||||
Loans and advances to banks | 16,868 | 14,074 | 14,094 | 12,926 | ||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | ||||
Cash collateral receivables on derivative instruments | 23,602 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers | 320,352 | 318,480 | 326,746 | 300,010 | ||||
Other financial assets measured at amortized cost | 22,563 | 18,775 | 37,815 | 27,115 | ||||
Total financial assets measured at amortized cost | 587,104 | 552,277 | 584,691 | 552,068 | ||||
Financial assets at fair value held for trading | 104,370 | [1] | 118,256 | 129,407 | [1] | 90,416 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments | 126,210 | [2],[3],[4],[5] | 121,285 | 121,285 | [2],[3],[4],[5] | 155,642 | ||
Brokerage receivables | 16,840 | 24,403 | ||||||
Financial assets at fair value not held for trading | 82,690 | [6] | 80,985 | 60,457 | [6] | 64,210 | ||
Total financial assets measured at fair value through profit or loss | 330,110 | 344,928 | 311,148 | 310,269 | ||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | ||
Investments in associates | 1,099 | 1,045 | 947 | $ 947 | ||||
Property, equipment and software | 9,348 | [8],[9] | 9,057 | 9,057 | [8],[9] | 8,186 | 8,186 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,105 | [10] | 10,182 | 10,056 | [10] | 13,158 | ||
Other non-financial assets | 7,410 | 7,830 | 7,830 | 12,434 | ||||
Total assets | 958,489 | [11] | 938,812 | 939,279 | [11] | 918,906 | 918,906 | [11] |
Liabilities | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Payables from securities financing transactions | 10,296 | 12,273 | 17,485 | 9,266 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits | 419,838 | 414,172 | 419,577 | 416,267 | ||||
Debt issued measured at amortized cost | 132,271 | [12] | 143,160 | 143,160 | [12] | 101,837 | ||
Other financial liabilities measured at amortized cost | 6,885 | 37,276 | 37,729 | |||||
Total financial liabilities measured at amortized cost | 609,158 | 656,255 | 610,410 | |||||
Financial liabilities at fair value held for trading | 28,943 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,425 | ||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,196 | 119,137 | [2],[3],[5],[13],[15] | 151,121 | ||
Brokerage payables designated at fair value | 38,420 | |||||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | |||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | |||
Total financial liabilities measured at fair value through profit or loss | 283,711 | 217,813 | 236,725 | |||||
Provisions | 3,494 | 3,290 | 3,214 | 4,101 | ||||
Other non-financial liabilities | 9,022 | 9,443 | 9,443 | 14,083 | ||||
Total liabilities | 905,386 | 886,851 | 886,725 | 865,320 | ||||
Equity | ||||||||
Share capital | 338 | 338 | 338 | 338 | ||||
Share premium | 20,843 | 23,598 | 23,598 | 25,958 | ||||
Treasury shares | (2,631) | (2,210) | (2,210) | (2,362) | ||||
Retained earnings | 30,448 | 25,415 | 25,932 | 25,029 | ||||
Other comprehensive income recognized directly in equity, net of tax | 3,930 | 4,764 | 4,838 | 3,953 | ||||
Equity attributable to shareholders | 52,928 | 51,905 | 52,495 | 52,916 | ||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 670 | ||||
Total equity | 53,103 | 51,938 | 52,554 | 53,586 | ||||
Total liabilities and equity | 958,489 | 938,812 | 939,279 | 918,906 | ||||
UBS AG | ||||||||
Assets | ||||||||
Cash and balances at central banks | 108,370 | 90,045 | 90,045 | 105,883 | ||||
Loans and advances to banks | 16,642 | 14,027 | 14,047 | 12,896 | ||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | ||||
Cash collateral receivables on derivative instruments | 23,603 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers | 321,482 | 320,687 | 328,952 | 300,678 | ||||
Other financial assets measured at amortized cost | 22,637 | 18,850 | 37,890 | 27,130 | ||||
Total financial assets measured at amortized cost | 588,084 | 554,512 | 586,925 | 552,721 | ||||
Financial assets at fair value held for trading | 104,513 | [1] | 118,359 | 129,509 | [1] | 90,501 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments | 126,212 | [2],[3],[4],[5] | 121,286 | 121,286 | [2],[3],[4],[5] | 155,642 | ||
Brokerage receivables | 16,840 | 24,403 | ||||||
Financial assets at fair value not held for trading | 82,387 | [6] | 80,598 | 60,070 | [6] | 63,888 | ||
Total financial assets measured at fair value through profit or loss | 329,953 | 344,646 | 310,865 | 310,031 | ||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | ||
Investments in associates | 1,099 | 1,045 | 947 | 947 | ||||
Property, equipment and software | 8,479 | [17],[18] | 8,191 | 8,191 | [17],[18] | 8,152 | 8,152 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,066 | [10] | 10,118 | 9,993 | [10] | 13,147 | ||
Other non-financial assets | 7,062 | 7,548 | 7,548 | 12,395 | ||||
Total assets | 958,055 | [11] | 939,554 | 940,020 | [11] | 919,236 | $ 919,236 | [11] |
Liabilities | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Payables from securities financing transactions | 10,296 | 12,272 | 17,485 | 9,266 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits | 421,986 | 417,653 | 423,058 | 418,129 | ||||
Funding from UBS Group AG and its subsidiaries | 41,202 | [19] | 35,648 | 35,648 | [19] | 24,201 | ||
Debt issued measured at amortized cost | 91,245 | [12] | 107,458 | 107,458 | [12] | 77,617 | ||
Other financial liabilities measured at amortized cost | 7,576 | 38,092 | 38,361 | |||||
Total financial liabilities measured at amortized cost | 612,174 | 660,498 | 612,884 | |||||
Financial liabilities at fair value held for trading | 28,949 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,426 | ||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,197 | 119,138 | [2],[3],[5],[13],[15] | 151,121 | ||
Brokerage payables designated at fair value | 38,420 | |||||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | |||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | |||
Total financial liabilities measured at fair value through profit or loss | 283,717 | 217,814 | 236,727 | |||||
Provisions | 3,457 | 3,240 | 3,164 | 4,097 | ||||
Other non-financial liabilities | 6,275 | 6,499 | 6,499 | 11,902 | ||||
Total liabilities | 905,624 | 888,100 | 887,974 | 865,610 | ||||
Equity | ||||||||
Share capital | 338 | 338 | 338 | 338 | ||||
Share premium | 24,655 | 24,633 | 24,633 | 27,154 | ||||
Retained earnings | 23,317 | 21,672 | 22,189 | 21,480 | ||||
Other comprehensive income recognized directly in equity, net of tax | 3,946 | 4,754 | 4,828 | 3,985 | ||||
Equity attributable to shareholders | 52,256 | 51,397 | 51,987 | 52,957 | ||||
Equity attributable to preferred noteholders | 631 | |||||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 39 | ||||
Total equity | 52,432 | 51,429 | 52,046 | 53,627 | ||||
Total liabilities and equity | $ 958,055 | $ 939,554 | $ 940,020 | $ 919,236 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | |||||||
[2] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | |||||||
[3] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | |||||||
[4] | PRV: positive replacement value. | |||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | |||||||
[6] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | |||||||
[7] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement | |||||||
[8] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[9] | Includes USD 26 million related to leased assets, mainly Own-used properties. | |||||||
[10] | Less deferred tax liabilities as applicable. | |||||||
[11] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||
[12] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||||
[13] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||||||
[14] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | |||||||
[15] | NRV: negative replacement value. | |||||||
[16] | As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. | |||||||
[17] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[18] | Includes USD 22 million related to leased assets, mainly Own-used properties. | |||||||
[19] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Millions | Total | Share capital | Share premium | Treasury shares | Retained earnings | Other comprehensive income recognized directly in equity, net of tax | [1] | of which: foreign currency translation | of which: financial assets at fair value through other comprehensive income | of which: cash flow hedges | Total equity attributable to shareholders | Non-controlling interests | UBS AG | UBS AGShare capital | UBS AGShare premium | UBS AGRetained earnings | UBS AGOther comprehensive income recognized directly in equity, net of tax | [1] | UBS AGof which: foreign currency translation | UBS AGof which: financial assets at fair value through other comprehensive income | UBS AGof which: cash flow hedges | UBS AGTotal equity attributable to shareholders | UBS AGPreferred noteholders | UBS AGNon-controlling interests | ||||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2015 | $ 57,328 | $ 338 | $ 28,966 | $ (1,806) | $ 22,672 | $ 5,166 | $ 3,360 | $ 171 | $ 1,635 | $ 55,336 | $ 1,992 | $ 57,264 | $ 338 | $ 27,126 | $ 22,664 | $ 5,144 | $ 3,337 | $ 171 | $ 1,635 | $ 55,272 | $ 1,951 | $ 41 | ||||||
Issuance of share capital | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Acquisition of treasury shares | (1,444) | (1,444) | [2] | (1,444) | ||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 124 | (716) | 840 | 124 | ||||||||||||||||||||||||
Other disposal of treasury shares | 47 | (2) | 49 | [2] | 47 | |||||||||||||||||||||||
Premium on shares issued and warrants exercised | 5 | 5 | 5 | 4 | 4 | 4 | ||||||||||||||||||||||
Share-based compensation expensed in the income statement | 872 | 872 | 872 | |||||||||||||||||||||||||
Tax (expense) / benefit | 29 | 29 | 29 | 26 | 26 | 26 | ||||||||||||||||||||||
Dividends | (3,326) | (3,241) | [3] | (3,241) | (85) | (3,674) | (3,589) | (3,589) | (80) | (5) | ||||||||||||||||||
Preferred notes | (1,299) | 0 | (1,299) | (1,299) | 0 | (1,299) | ||||||||||||||||||||||
Translation effects recognized directly in retained earnings | 0 | 13 | (13) | (17) | 4 | 0 | 0 | 13 | (13) | (17) | 4 | 0 | ||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 0 | 45 | (45) | 0 | 0 | (2) | (2) | (2) | 0 | |||||||||||||||||||
Total comprehensive income for the year | 1,251 | 2,389 | (1,200) | (458) | (58) | (684) | 1,189 | 62 | 1,308 | 2,392 | (1,146) | (404) | (58) | (684) | 1,246 | 59 | 3 | |||||||||||
of which: net profit / (loss) | 3,432 | [4],[5] | 3,348 | 3,348 | 84 | 3,435 | [4],[5] | 3,351 | 3,351 | 80 | 4 | |||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (1,200) | (1,200) | (458) | (58) | (684) | (1,200) | (1,146) | (1,146) | (404) | (58) | (684) | (1,146) | ||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | (829) | (829) | (829) | (829) | (829) | (829) | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (130) | (130) | (130) | (130) | (130) | (130) | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | (22) | 0 | (22) | (22) | 0 | (21) | (1) | |||||||||||||||||||||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2016 | 53,586 | 338 | 25,958 | (2,362) | 25,029 | 3,953 | 2,901 | 96 | 955 | 52,916 | 670 | 53,627 | 338 | 27,154 | 21,480 | 3,985 | 2,933 | 96 | 955 | 52,957 | 631 | 39 | ||||||
Issuance of share capital | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Acquisition of treasury shares | (908) | (908) | [2] | (908) | ||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 115 | (879) | 994 | 115 | ||||||||||||||||||||||||
Other disposal of treasury shares | 67 | 1 | 66 | [2] | 67 | |||||||||||||||||||||||
Premium on shares issued and warrants exercised | 19 | 19 | 19 | 6 | 6 | 6 | ||||||||||||||||||||||
Share-based compensation expensed in the income statement | 735 | 735 | 735 | |||||||||||||||||||||||||
Tax (expense) / benefit | 21 | 21 | 21 | 16 | 16 | 16 | ||||||||||||||||||||||
Dividends | (2,337) | (2,259) | [3] | (2,259) | (77) | (2,297) | (2,219) | (2,219) | (73) | (4) | ||||||||||||||||||
Preferred notes | (878) | 0 | (878) | (878) | 0 | (878) | ||||||||||||||||||||||
Translation effects recognized directly in retained earnings | 0 | (46) | 46 | 7 | 39 | 0 | 0 | (46) | 46 | 7 | 39 | 0 | ||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 18 | 1 | 1 | 17 | (306) | (324) | (324) | 18 | ||||||||||||||||||||
Total comprehensive income for the year | 2,113 | 949 | 838 | 1,564 | (91) | (635) | 1,787 | 326 | 1,878 | 755 | 797 | 1,522 | (91) | (635) | 1,552 | 320 | 6 | |||||||||||
of which: net profit / (loss) | 1,046 | [4],[5] | 969 | 969 | 77 | 834 | [4],[5] | 758 | 758 | 73 | 4 | |||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | 838 | 838 | 1,564 | (91) | (635) | 838 | 797 | 797 | 1,522 | (91) | (635) | 797 | ||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 296 | 296 | 296 | 314 | 314 | 314 | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (317) | (317) | (317) | (317) | (317) | (317) | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | 250 | 0 | 250 | 250 | 0 | 247 | 2 | |||||||||||||||||||||
Balance at Dec. 31, 2017 | 52,554 | 52,046 | ||||||||||||||||||||||||||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 52,554 | 338 | 23,598 | (2,210) | 25,932 | 4,838 | 4,466 | 13 | 360 | 52,495 | 59 | 52,046 | 338 | 24,633 | 22,189 | 4,828 | 4,455 | 13 | 360 | 51,987 | 0 | 59 | ||||||
Effect of adoption of IFRS 9 | (591) | (518) | (74) | (74) | (591) | (591) | (518) | (74) | (74) | (591) | ||||||||||||||||||
Effect of adoption of IFRS 15 | (25) | (25) | (25) | (25) | (25) | (25) | ||||||||||||||||||||||
Balance at Jan. 01, 2018 | 51,938 | 338 | 23,598 | (2,210) | 25,389 | 4,764 | 4,466 | (61) | 360 | 51,879 | 59 | 51,429 | 338 | 24,633 | 21,646 | 4,754 | 4,455 | (61) | 360 | 51,370 | 0 | 59 | ||||||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 52,554 | 338 | 23,598 | (2,210) | 25,932 | 4,838 | 4,466 | 13 | 360 | 52,495 | 59 | 52,046 | 338 | 24,633 | 22,189 | 4,828 | 4,455 | 13 | 360 | 51,987 | 0 | 59 | ||||||
Effect of adoption of IFRS 9 | (591) | (518) | (74) | (74) | (591) | |||||||||||||||||||||||
Effect of adoption of IFRS 15 | (25) | (25) | (25) | |||||||||||||||||||||||||
Balance at Dec. 31, 2017 | 52,554 | 52,046 | ||||||||||||||||||||||||||
Issuance of share capital | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||
Acquisition of treasury shares | (1,608) | (1,608) | [2] | (1,608) | ||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 128 | (1,009) | 1,137 | 128 | ||||||||||||||||||||||||
Other disposal of treasury shares | 50 | 50 | [2] | 50 | ||||||||||||||||||||||||
Premium on shares issued and warrants exercised | 22 | 22 | 22 | 34 | 34 | 34 | ||||||||||||||||||||||
Share-based compensation expensed in the income statement | 676 | 676 | 676 | |||||||||||||||||||||||||
Tax (expense) / benefit | 4 | 4 | 4 | (5) | (5) | (5) | ||||||||||||||||||||||
Dividends | (2,450) | (2,440) | [3] | (2,440) | (10) | (3,108) | (3,098) | (3,098) | (10) | |||||||||||||||||||
Preferred notes | 0 | 0 | ||||||||||||||||||||||||||
Translation effects recognized directly in retained earnings | 0 | (21) | 21 | 3 | 18 | 0 | 0 | (21) | 21 | 3 | 18 | |||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 115 | (7) | (7) | 122 | 115 | (7) | (7) | 122 | ||||||||||||||||||||
Total comprehensive income for the year | 4,231 | 5,080 | (855) | (541) | (45) | (269) | 4,225 | 5 | 3,967 | 4,790 | (829) | (515) | (45) | (269) | 3,961 | 0 | 5 | |||||||||||
of which: net profit / (loss) | 4,522 | [4],[5] | 4,516 | 4,516 | 7 | 4,113 | [4],[5] | 4,107 | 4,107 | 0 | 7 | |||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (855) | (855) | (541) | (45) | (269) | (855) | (829) | (829) | (515) | (45) | (269) | (829) | ||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 56 | 56 | 56 | 175 | 175 | 175 | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | 509 | 509 | 509 | 509 | 509 | 509 | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | (1) | 0 | (1) | (1) | 0 | (1) | ||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 53,103 | $ 338 | $ 20,843 | $ (2,631) | $ 30,448 | $ 3,930 | $ 3,924 | $ (103) | $ 109 | $ 52,928 | $ 176 | $ 52,432 | $ 338 | $ 24,655 | $ 23,317 | $ 3,946 | $ 3,940 | $ (103) | $ 109 | $ 52,256 | $ 0 | $ 176 | ||||||
[1] | Excludes defined benefit plans and own credit that are recorded directly in Retained earnings | |||||||||||||||||||||||||||
[2] | Includes treasury shares acquired and disposed of by the Investment Bank in its capacity as a market-maker in UBS shares and related derivatives and to hedge certain issued structured debt instruments. These acquisitions and disposals are reported based on the sum of the net monthly movements. | |||||||||||||||||||||||||||
[3] | Reflects the payment of an ordinary cash dividend of CHF 0.65 (2017: CHF 0.60 ordinary cash dividend; 2016: CHF 0.60 ordinary cash dividend and CHF 0.25 special cash dividend) per dividend-bearing share out of the capital contribution reserve. | |||||||||||||||||||||||||||
[4] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||||||||||||||||||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) - SFr / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Ordinary cash dividends paid, ordinary shares per share | SFr 0.65 | SFr 0.6 | SFr 0.6 |
Special dividends paid, ordinary shares per share | SFr 0.25 |
Shares issued and treasury shar
Shares issued and treasury shares held - shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Shares issued | ||
Balance at the beginning of the year | 3,853,096,603 | 3,850,766,389 |
Issuance of shares | 2,538,146 | 2,330,214 |
Balance at the end of the year | 3,855,634,749 | 3,853,096,603 |
Treasury shares | ||
Balance at the beginning of the year | 132,301,550 | 138,441,772 |
Acquisitions | 103,979,927 | 54,828,640 |
Disposals | (69,813,675) | (60,968,862) |
Balance at the end of the year | 166,467,802 | 132,301,550 |
UBS AG | ||
Shares issued | ||
Balance at the beginning of the year | 3,858,408,466 | |
Balance at the end of the year | 3,858,408,466 | 3,858,408,466 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Cash flow from / (used in) operating activities | |||||||
Net profit / (loss) | [1],[2] | $ 4,522 | $ 1,046 | $ 3,432 | |||
Non-cash items included in net profit and other adjustments: | |||||||
Depreciation and impairment of property, equipment and software | [2] | 1,228 | 1,053 | 997 | |||
Amortization and impairment of intangible assets | [2] | 65 | 71 | 93 | |||
Credit loss expense / (recovery) | [2] | 118 | 131 | 38 | |||
Share of net profits of associates / joint ventures and impairment of associates | [2] | (528) | (69) | (109) | |||
Deferred tax expense / (benefit) | [2] | 425 | 3,414 | (43) | |||
Net loss / (gain) from investing activities | [2] | (46) | (198) | (1,223) | |||
Net loss / (gain) from financing activities | [2] | (4,828) | 2,109 | 9,967 | |||
Other net adjustments | [2] | (1,179) | (855) | (296) | |||
Net change in operating assets and liabilities: | |||||||
Loans and advances to banks / amounts due to banks | [2] | 3,504 | (3,234) | (1,286) | |||
Securities financing transactions | [2] | (11,230) | (111) | 945 | |||
Cash collateral on derivative instruments | [2] | (1,447) | (2,454) | (4,182) | |||
Loans and advances to customers | [2] | (5,213) | (14,471) | 3,662 | |||
Customer deposits | [2] | 9,138 | (12,962) | 33,493 | |||
Financial assets and liabilities at FV held for trading and derivative financial instruments | [2] | 11,107 | (23,544) | 8,525 | |||
Brokerage receivables and payables | [2] | 11,432 | |||||
Financial assets at fair value not held for trading, other financial assets and liabilities | [2] | 11,115 | (1,978) | (77,228) | |||
Provisions, other non-financial assets and liabilities | [2] | 1,682 | 996 | 5,570 | |||
Income taxes paid, net of refunds | [2] | (951) | (1,044) | (645) | |||
Net cash flow from / (used in) operating activities | [2] | 28,913 | (52,099) | (18,292) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [2] | (287) | (106) | (27) | |||
Disposal of subsidiaries, associates and intangible assets | [2],[3] | 137 | 339 | 94 | |||
Purchase of property, equipment and software | [2] | (1,688) | (1,627) | (1,800) | |||
Disposal of property, equipment and software | [2] | 114 | 47 | 182 | |||
Purchase of financial assets measured at fair value through other comprehensive income | [2] | (1,999) | (8,626) | (7,022) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [2] | 1,361 | 15,250 | 54,433 | |||
Net (purchase) / redemption of debt securities measured at amortized cost | [2] | (3,770) | |||||
Net (purchase) / redemption of financial assets held to maturity | [2] | (91) | (9,224) | ||||
Net cash flow from / (used in) investing activities | [2] | (6,132) | 5,186 | 36,637 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [2] | (12,245) | 24,500 | 5,474 | |||
Net movements in treasury shares and own equity derivative activity | [2] | (1,431) | (730) | (1,259) | |||
Distributions paid on UBS shares | [2] | (2,440) | (2,259) | (3,241) | |||
Issuance of long-term debt, including debt issued designated at fair value | [2] | 60,682 | 51,450 | 33,703 | |||
Repayment of long-term debt, including debt issued designated at fair value | [2] | (44,344) | (45,187) | (33,902) | |||
Net changes in non-controlling interests and preferred notes | [2] | (31) | (787) | (1,387) | |||
Net cash flow from / (used in) financing activities | [2] | 190 | 26,988 | (612) | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [2],[4] | 104,834 | 119,014 | 102,879 | |||
Net cash flow from / (used in) operating, investing and financing activities | [2] | 22,971 | (19,925) | 17,733 | |||
Effects of exchange rate differences on cash and cash equivalents | [2] | (1,726) | 5,745 | (1,598) | |||
Cash and cash equivalents at the end of the year | [2],[4] | 126,079 | 104,834 | 119,014 | |||
Net cash flow from / (used in) operating activities includes: | |||||||
Interest received in cash | [2] | 7,705 | 7,735 | 8,002 | |||
Interest paid in cash | [2] | 4,553 | 3,917 | 3,565 | |||
Dividends on equity investments, investment funds and associates received in cash | [2],[5] | 2,322 | 1,828 | 1,618 | |||
UBS AG | |||||||
Cash flow from / (used in) operating activities | |||||||
Net profit / (loss) | [1],[2] | 4,113 | 834 | 3,435 | |||
Non-cash items included in net profit and other adjustments: | |||||||
Depreciation and impairment of property, equipment and software | [2] | 1,052 | 945 | 992 | |||
Amortization and impairment of intangible assets | [2] | 65 | 71 | 93 | |||
Credit loss expense / (recovery) | [2] | 117 | 131 | 38 | |||
Share of net profits of associates / joint ventures and impairment of associates | [2] | (528) | (69) | (109) | |||
Deferred tax expense / (benefit) | [2] | 374 | 3,398 | (35) | |||
Net loss / (gain) from investing activities | [2] | (49) | (198) | (1,223) | |||
Net loss / (gain) from financing activities | [2] | (4,829) | 2,763 | 9,627 | |||
Other net adjustments | [2] | (1,092) | (1,077) | 384 | |||
Net change in operating assets and liabilities: | |||||||
Loans and advances to banks / amounts due to banks | [2] | 3,504 | (3,236) | (1,289) | |||
Securities financing transactions | [2] | (11,230) | (111) | 945 | |||
Cash collateral on derivative instruments | [2] | (1,449) | (2,454) | (4,182) | |||
Loans and advances to customers | [2] | (4,152) | (15,661) | 3,736 | |||
Customer deposits | [2] | 7,931 | (12,073) | 33,402 | |||
Financial assets and liabilities at FV held for trading and derivative financial instruments | [2] | 11,093 | (23,560) | 8,453 | |||
Brokerage receivables and payables | [2] | 11,432 | |||||
Financial assets at fair value not held for trading, other financial assets and liabilities | [2] | 10,902 | (1,801) | (77,035) | |||
Provisions, other non-financial assets and liabilities | [2] | 1,377 | (29) | 4,236 | |||
Income taxes paid, net of refunds | [2] | (888) | (1,021) | (638) | |||
Net cash flow from / (used in) operating activities | [2] | 27,744 | (53,147) | (19,172) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [2] | (287) | (106) | (27) | |||
Disposal of subsidiaries, associates and intangible assets | [2],[3] | 137 | 339 | 95 | |||
Purchase of property, equipment and software | [2] | (1,473) | (1,532) | (1,782) | |||
Disposal of property, equipment and software | [2] | 114 | 210 | 182 | |||
Purchase of financial assets measured at fair value through other comprehensive income | [2] | (1,999) | (8,626) | (7,022) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [2] | 1,361 | 15,250 | 54,433 | |||
Net (purchase) / redemption of debt securities measured at amortized cost | [2] | (3,770) | |||||
Net (purchase) / redemption of financial assets held to maturity | [2] | (91) | (9,224) | ||||
Net cash flow from / (used in) investing activities | [2] | (5,918) | 5,444 | 36,655 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [2] | (12,245) | 24,500 | 5,474 | |||
Distributions paid on UBS shares | [2] | (3,098) | (2,219) | (3,589) | |||
Issuance of long-term debt, including debt issued designated at fair value | [2] | 54,726 | 40,270 | 19,786 | |||
Repayment of long-term debt, including debt issued designated at fair value | [2] | (44,344) | (45,187) | (33,902) | |||
Funding from UBS Group AG and its subsidiaries | [2] | 5,956 | 11,180 | 13,917 | |||
Dividends paid and repayments of preferred notes | [2] | (782) | (1,382) | ||||
Net changes in non-controlling interests | [2] | (31) | (5) | (5) | |||
Net cash flow from / (used in) financing activities | [2] | 963 | 27,758 | 299 | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [2],[7] | 104,787 | [6] | 118,984 | [8] | 102,797 | |
Net cash flow from / (used in) operating, investing and financing activities | [2] | 22,789 | (19,944) | 17,783 | |||
Effects of exchange rate differences on cash and cash equivalents | [2] | (1,722) | 5,749 | (1,596) | |||
Cash and cash equivalents at the end of the year | [2],[7] | 125,853 | [9] | 104,787 | [6] | 118,984 | [8] |
Net cash flow from / (used in) operating activities includes: | |||||||
Interest received in cash | [2] | 7,720 | 7,635 | 7,907 | |||
Interest paid in cash | [2] | 4,719 | 3,977 | 3,581 | |||
Dividends on equity investments, investment funds and associates received in cash | [2],[10] | $ 2,322 | $ 1,828 | $ 1,618 | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | ||||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | ||||||
[3] | Includes dividends received from associates. | ||||||
[4] | USD 5,245 million, USD 2,497 million and USD 2,615 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2018, 31 December 2017 and 31 December 2016, respectively. Refer to Note 26 for more information. | ||||||
[5] | Includes dividends received from associates (2018: USD 42 million; 2017: USD 53 million; 2016: USD 50 million) reported within Cash flow from / (used in) investing activities. | ||||||
[6] | USD 2,497 million of cash and cash equivalents were restricted. | ||||||
[7] | USD 5,245 million, USD 2,497 million and USD 2,615 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2018, 31 December 2017 and 31 December 2016, respectively. Refer to Note 26 for more information. | ||||||
[8] | USD 2,615 million of cash and cash equivalents were restricted. | ||||||
[9] | USD 5,245 million of cash and cash equivalents were restricted. | ||||||
[10] | Includes dividends received from associates (2018: USD 42 million; 2017: USD 53 million; 2016: USD 50 million) reported within Cash flow from / (used in) investing activities. |
Consolidated Statement ot Cash
Consolidated Statement ot Cash Flows (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Statement Of Cash Flows [Line Items] | |||||
Restricted cash and cash equivalents | $ 5,245 | $ 2,497 | $ 2,615 | ||
Money market paper in financial assets at fair value held for trading | 366 | 135 | 74 | ||
Money market paper in financial assets measured at fair value through other comprehensive income | 8 | 17 | 416 | ||
Money market paper in financial assets at fair value not held for trading and other financial assets measured at amortized cost | 1,760 | 1,941 | 942 | ||
Dividends Received From Associates Classified As Investing Activities | 42 | 53 | 50 | ||
Cash and balances at central banks classified as cash equivalents | 108,268 | 89,968 | 105,832 | ||
Loans and advances to banks classified as cash equivalents | 15,678 | 12,773 | 11,749 | ||
Money market paper classified as cash equivalents | [1] | 2,133 | 2,093 | 1,433 | |
UBS AG | |||||
Statement Of Cash Flows [Line Items] | |||||
Restricted cash and cash equivalents | 5,245 | 2,497 | 2,615 | ||
Money market paper in financial assets at fair value held for trading | 366 | 135 | 74 | ||
Money market paper in financial assets measured at fair value through other comprehensive income | 8 | 17 | 416 | ||
Money market paper in financial assets at fair value not held for trading and other financial assets measured at amortized cost | 1,760 | 1,941 | 942 | ||
Dividends Received From Associates Classified As Investing Activities | 42 | 53 | 50 | ||
Cash and balances at central banks classified as cash equivalents | 108,268 | [2] | 89,968 | 105,832 | |
Loans and advances to banks classified as cash equivalents | 15,452 | [2] | 12,726 | 11,719 | |
Money market paper classified as cash equivalents | [3],[4] | $ 2,133 | [2] | $ 2,093 | $ 1,433 |
[1] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2018: USD 366 million; 31 December 2017: USD 135 million; 31 December 2016: USD 74 million), Financial assets measured at fair value through other comprehensive income (31 December 2018: USD 8 million; 31 December 2017: USD 17 million; 31 December 2016: USD 416 million), Financial assets at fair value not held for trading and Other financial assets measured at amortized cost (31 December 2018: USD 1,760 million; 31 December 2017: USD 1,941 million; 31 December 2016: USD 942 million). | ||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | ||||
[3] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2018: USD 366 million; 31 December 2017: USD 135 million; 31 December 2016: USD 74 million), Financial assets measured at fair value through other comprehensive income (31 December 2018: USD 8 million; 31 December 2017: USD 17 million; 31 December 2016: USD 416 million), Financial assets at fair value not held for trading and Other financial assets measured at amortized cost (31 December 2018: USD 1,760 million; 31 December 2017: USD 1,941 million; 31 December 2016: USD 942 million). | ||||
[4] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. |
Changes in liabilities arising
Changes in liabilities arising from financing activities - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | ||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | $ 4,092 | $ 30,765 | ||||
Non-cash changes | (10,711) | 12,130 | ||||
of which: foreign currency translation | (2,905) | 8,183 | ||||
of which: fair value changes | (7,475) | 4,360 | ||||
of which: other | (332) | (413) | ||||
Balance | 191,752 | 198,371 | $ 155,476 | |||
Debt issued measured at amortized cost | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (7,402) | 36,811 | ||||
Non-cash changes | (3,488) | 4,512 | ||||
of which: foreign currency translation | (3,155) | 4,925 | ||||
of which: fair value changes | 0 | 0 | ||||
of which: other | (332) | (413) | ||||
Balance | 132,271 | 143,160 | 101,837 | |||
of which: short term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (12,245) | 24,500 | ||||
Non-cash changes | (1,000) | 2,050 | ||||
of which: foreign currency translation | (1,000) | 2,050 | ||||
of which: other | 0 | 0 | ||||
Balance | 39,025 | 52,270 | 25,720 | |||
of which: long term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 4,843 | 12,311 | ||||
Non-cash changes | (2,487) | 2,462 | ||||
of which: foreign currency translation | (2,155) | 2,875 | ||||
of which: fair value changes | 0 | |||||
of which: other | [1] | (332) | (413) | |||
Balance | 93,246 | 90,890 | 76,117 | |||
Debt issued designated at fair value | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 13,332 | (5,625) | ||||
Non-cash changes | (7,083) | 7,350 | ||||
of which: foreign currency translation | 309 | 3,085 | ||||
of which: fair value changes | (7,392) | 4,265 | ||||
of which: other | 0 | 0 | ||||
Balance | 57,031 | 50,782 | 49,057 | |||
Over-the-counter (OTC) debt instruments | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [2] | (1,838) | (422) | |||
Non-cash changes | [2] | (140) | 268 | |||
of which: foreign currency translation | [2] | (59) | 173 | |||
of which: fair value changes | [2] | (82) | 95 | |||
of which: other | [2] | 0 | 0 | |||
Balance | 2,450 | [2] | 4,428 | [2] | 4,581 | |
UBS AG | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 4,092 | 30,765 | ||||
Non-cash changes | (10,481) | 12,095 | ||||
of which: foreign currency translation | (2,663) | 8,180 | ||||
of which: fair value changes | (7,475) | 4,360 | ||||
of which: other | (344) | (446) | ||||
Balance | 191,928 | 198,316 | 155,456 | |||
UBS AG | Debt issued measured at amortized cost | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (13,358) | 25,631 | ||||
Non-cash changes | (2,855) | 4,210 | ||||
of which: foreign currency translation | (2,624) | 4,523 | ||||
of which: fair value changes | 0 | |||||
of which: other | (231) | (313) | ||||
Balance | 91,245 | 107,458 | 77,617 | |||
UBS AG | of which: short term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (12,245) | 24,500 | ||||
Non-cash changes | (1,000) | 2,050 | ||||
of which: foreign currency translation | (1,000) | 2,050 | ||||
of which: other | 0 | |||||
Balance | 39,025 | 52,270 | 25,720 | |||
UBS AG | of which: long term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (1,113) | 1,131 | ||||
Non-cash changes | (1,854) | 2,159 | ||||
of which: foreign currency translation | (1,623) | 2,473 | ||||
of which: fair value changes | 0 | |||||
of which: other | [3] | (231) | (314) | |||
Balance | 52,220 | 55,187 | 51,897 | |||
UBS AG | Debt issued designated at fair value | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 13,332 | (5,625) | ||||
Non-cash changes | (7,083) | 7,350 | ||||
of which: foreign currency translation | 309 | 3,085 | ||||
of which: fair value changes | (7,392) | 4,265 | ||||
of which: other | 0 | |||||
Balance | 57,031 | 50,782 | 49,057 | |||
UBS AG | Over-the-counter (OTC) debt instruments | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [4] | (1,838) | (422) | |||
Non-cash changes | [4] | (140) | 269 | |||
of which: foreign currency translation | [4] | (59) | 173 | |||
of which: fair value changes | [4] | (82) | 95 | |||
Balance | 2,450 | [4] | 4,428 | [4] | 4,581 | |
UBS AG | Funding from UBS Group AG and its subsidiaries | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [5] | 5,956 | 11,180 | |||
Non-cash changes | [5] | (402) | 267 | |||
of which: foreign currency translation | [5] | (289) | 399 | |||
of which: other | [3],[5] | (113) | (133) | |||
Balance | [5] | $ 41,202 | $ 35,648 | $ 24,201 | ||
[1] | Includes the effect of fair value hedges on long-term debt issued. Refer to Note 1a item j and Note 20 for more information | |||||
[2] | Included in balance sheet line Other financial liabilities designated at fair value. | |||||
[3] | Includes the effect of fair value hedges on long-term debt issued. Refer to Note 1a item j and Note 20 for more information | |||||
[4] | Included in balance sheet line Other financial liabilities designated at fair value. | |||||
[5] | Represents Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG that is reported in the balance sheet line Due to customers. |
Shares issued and treasury sh_2
Shares issued and treasury shares held; Conditional share capital | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital [textblock] | Conditional share capital As of 31 December 2018, 125,126,476 additional UBS Group AG shares could have been issued to fund UBS ’ s employee share option programs. Additional conditional capital up to a maximum numbe r of 380,000,000 UBS Group AG shares was available as of 31 December 2018 for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments. Share repurchase program As announced in January 2018, UBS has an active share repurchase program to buy back up to CHF 2 billion of its own shares over the three-year period starting from March 2018. Under this program, UBS purchased 48 million shares totaling USD 762 million in 2018 UBS Group AG shares issued and treasury shares held Number of shares 2018 2017 Shares issued Balance at the beginning of the year 3,853,096,603 3,850,766,389 Issuance of shares 2,538,146 2,330,214 Balance at the end of the year 3,855,634,749 3,853,096,603 Treasury shares Balance at the beginning of the year 132,301,550 138,441,772 Acquisitions 103,979,927 54,828,640 Disposals (69,813,675) (60,968,862) Balance at the end of the year 166,467,802 132,301,550 |
UBS AG | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital [textblock] | UBS AG shares issued As of 31 December 2018, shares issued by UBS AG totaled 3,858,408,466 (31 December 2017: 3,858,408,466 shares) and were entirely held by UBS Group AG . Conditional share capital Conditional capital up to a maximum number of 380,000,000 shares was available as of 31 December 2018 for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Significant Accounting Policies [Line Items] | |
Significant accounting policies | Note 1 Summary of significant accounting policies (continued) a) Significant accounting policies This Note describes the significant accounting policies applied in the preparation of the consolidated financial statements (the “Financial Statements”) of UBS Group AG and its subsidiaries (“UBS” or the “Group”). On 14 March 2019, the Financial Statements were auth orized for issue by the Board of Directors. Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are pre sented in US dollars ( USD ), which is also the functional currency of UBS Group AG , UBS AG’s Head Office, UBS AG’s London Branch and UBS’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that a re marked as audited form an integral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures , and IAS 1, Presentation of Financial Statements , and are not repeated in this section. The a ccounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. In addition, effective from 1 January 2018, the Group applies IFRS 9, Financial Instruments , which substantially changes the accounting for financial assets, and IFRS 15, Revenue from Contracts with Customers , which affects the Group’s revenue recognition, measurement and presentation. Within this note, policies for prior periods that differ from those applied to the financial year ended 31 December 2018 are identified as “Comparative policy . ” Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions, updating them as necessary. Changes in those estimates and assumptions may have a significant effect on the Financial Statements. Further, actual results may differ significantly from UBS’s estimates, which could result in significant losses to the Group, beyond what was anticipated or prov ided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 24 ) allowances and provisions for expected credit losses (refer to item 3g in this Note and to Note 23 ) assessment of the business model and certain contractual features when classifying financial instruments (refer to item 3b in this Note) pension and other post-employment benefit plans (refer to it em 7 in this Note and to Note 29 ) income taxes (refer to item 8 in this Note and to Note 8) goodwill (refer to ite m 11 in this Note and to Note 16 ) provisions and contingent liabilities (refer to item 12 in this Note and to Note 21 ) consolidation of structured entities (refer to item 1 in this Note and to Not e 31) determination of the functional currency and assessing the earliest date from which it i s practical to perform a restatement following a change in presentational currency (refer to item 1 3 in this Note and to Not e 1b). 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent compan y (UBS Group AG) and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity ; (ii) exposure to an entity ‘s variable returns ; and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indic ated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS has an interest in an entity that exposes it to variability, UBS considers whether it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether the Group has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions abo ut those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements ( such as call rights, put rights or liquidation rights ) as well as potential decision-making rights are all considered i n this assessment. Where the Group has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held in a principal or agent capaci ty. Consideration is given to : (i) the scope of decision-making authority ; (ii) rights held by other parties, including removal or other participating rights ; and (iii) exposure to variability, including remuneration, relative to total variability of the e ntity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, including SEs, are consol idated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establ ish that control is present. Refer to Note 31 for more information b. Structured entities UBS sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be expos ed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entities generally have a narrow and well-defined objective and include those hist orically referred to as special- purpose entities , as well as some investment funds. UBS assesses whether an entity is an SE by considering the nature of the activities of the entity as well as the s ubstance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the h older has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third p arties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured entities are establi shed predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS or through an external market transaction. In som e cases, UBS may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS may have interests in a third-party-spons ored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does no t have a substantive effect on variability, or are actively managed , and investors or their governing bodies do not have substantive voting or similar rights. UBS creates and sponsors a large number of funds in which it may have an interest through the rec eipt of variable management fees and / or a direct investment. In addition, UBS has interests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products. When UBS does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS’s involvement are unique to each entity, there is no uniform cons olidation outcome by entity. Certain entities within a class may be consolidated while others may not. When carrying out the consolidation assessment, judgment is exercised considering all the relevant facts and circumstances, including the nature and acti vities of the investee, as well as the substance of voting and similar rights. Refer to Note 31 for more information 2) Segment reporting Prior to the first quarter of 2018, UBS‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualif ied as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect ed the management structure of the Group . Corpo rate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Corporate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Ma nagement (Group ALM), Non-core and Legacy Portfolio) was presented separately in internal management reports to the Group Executive Board, which is considered the “chief operating decision maker” pursuant to IFRS 8, Operating Segments. Effective from the first quarter of 2018, UBS combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performan ce targets and an integrated operating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports to the Group Executive Board. Con sequently, from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Ba nk and Corporate Center (with its units Services, Group ALM and Non-core and Legacy Portfolio). Following the change in the composition of UBS’s operating segments and corresponding reportable segments, previously reported segment information has been rest ated. This change has no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information UBS’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commissions are credited to the reportable segments bas ed on the corresponding client relationship. Total intersegment revenues for the Group are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Interest income earned from managing UBS’s con solidated equity is allocated to the reportable segments based on average attributed equity and currency composition . Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to the Group Executive Board. Certain assets managed centra lly by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Cente r – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center , notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the operating segments . Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are entirely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment repor ting purposes represent assets that are expected to be recovered more than 12 months after the reporting date, excluding financial instruments, deferred tax assets and post-employment benefits. Refer to Note s 1 b and 2 for more inform ation 3) Financial instruments a. Recognition UBS recognizes financial instruments when it becomes a party to the contractual provisions of the instrument. UBS applies settlement date accounting to all regular way purchases and sales of financial instrumen ts . In transactions in which UBS acts a s a transferee, to the extent that the transfer of a financial asset does not qualify for derecognition by the t ransferor, UBS does not recogniz e the transferred instrument as its asset. UBS also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS’s balance sheet. Consequent ly, the related income is excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, the Gro up neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are initially measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOCI) , the initial fair value is adjusted for directly attributa ble transaction costs. Policy applicable from 1 January 2018 1 On initial recognition, financial assets are classified as measured at amortized cost, FVOCI, or fair value through profit or loss (FVTPL). A debt instrument is measured at amortized cost if it meets the following conditions: it is held within a business model that has an objective to hold financial assets to collect contractual cash flows; and the contractual terms of the financial asset result in cash flows that are solely payments of principa l and interest (SPPI) on the principal amount outstanding. A debt instrument is measured at FVOCI if it meets both of the following conditions: it is held within a business model whose objective is achieved by both collecting contractual cash flows and se lling financial assets; and the contractual terms of the financial asset result in cash flows that are SPPI on the principal amount outstanding. All other financial assets are measured at FVTPL and consist of held for trading assets, assets mandatorily me asured on a fair value basis and derivatives, except to the extent that they are designated in a hedging relationship, in which case the IAS 39 hedge accounting requirements continue to apply. Business model assessment UBS determines the nature of the bus iness model, for example if the objective is to hold the financial asset and collect the contractual cash flows, by considering the way in which the financial assets are managed to achieve a particular business objective as determined by management. Finan cial assets that are held for trading or managed on a fair value basis are measured at FVTPL insofar as the associated business model is neither to hold the financial assets to collect contractual cash flows nor to hold to collect contractual cash flows an d sell. The Group originates loans to hold to maturity and to sell or sub-participate to other parties, resulting in a transfer of substantially all the risks and rewards, and derecognition of the loan or portions of it. The Group considers the activities of lending to hold and lending to sell or sub-participate as two separate business models, with financial assets within the former considered to be within a business model that has an objective to hold the assets to collect contractual cash flows, and thos e within the latter included in a trading portfolio. In certain cases, it may not be possible on origination to identify whether loans or portions of loans will be sold or sub-participated and certain loans may be managed on a fair value basis through, fo r instance, using credit derivatives. These financial assets are mandatorily measured at FVTPL. Critical accounting estimates and judgments UBS exercises judgment in determining the appropriate level at which to assess its business models. In general, the assessment is performed at the product level, e.g., retail and commercial mortgages. In other cases, the assessment is carried out at a more granular level, e.g., loan portfolios by region, and, if required, further disagg regation is performed by business strategy. A detailed assessment is carried out considering how the financial assets are evaluated and reported to UBS’s key management, the risks that affect the performance of the business and the way that management is c ompensated. In addition, UBS exercises judgment in determining the effect of sales of financial instruments on the business model assessment. In particular, an assessment is made on whether and the extent to which sales are consistent with the objective of the business model. Contractual cash flow characteristics In assessing whether the contractual cash flows are SPPI, the Group considers whether the contractual terms of the financial asset contain a term that could change the timing or amount of contra ctual cash flows arising over the life of the instrument, which could affect whether the instrument is considered to meet the SPPI criterion. For example, the Group holds portfolios of private mortgage contracts and corporate loans in Personal & Corporate Banking that commonly contain clauses that provide for two-way compensation if prepayment occurs. The amount of compensation paid by or to UBS reflects the effect of changes in market interest rates. The Group has determined that the inclusion of the chang e in market interest rates in the compensation amount is reasonable for the early termination of the contract, and therefore results in contractual cash flows that are SPPI. Critical accounting estimates and judgments UBS applies judgment when considering whether certain contractual features, such as interest rate reset frequency or non-recourse features, significantly affect future cash flows and whether compensation paid or received on early termination of lending arrangements results in cash flows that are not SPPI. A thorough analysis of all relevant facts and circumstances is assessed before concluding whether contractual cash flows of the financial instrument are consistent with payments representing principal and interest. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. 1 The accounting policy in this section applies from 1 Janu ary 2018, the effective date of IFRS 9. For the details of transition effects refer to Note 1c. Classification, measurement and presentation of financial instruments from 1 January 2018 Measured at amortized cost A debt financial asset is measured at amortized cost if: it is held in a business model that has an objective to hold assets to collect contractual cash flows; and the contractual terms give rise to cash flows that are SPPI. This classification includes: cash and balances at central banks loans and advances to banks cash collateral receivables on securities borrowed receivable s on reverse repurchase agreements cash collateral receivables on derivative instruments residential and commercial mortgages corporate loans secured loans, including Lombard loans, and unsecured loans loans to financial advisors debt securities held as hi gh-quality liquid assets (HQLA) fee and lease receivables. Measured at amortized cost using the effective interest rate (EIR) method less allowances for expected credit losses (ECL) (refer to items 3c and 3g in this Note for more information). The follow ing items are recognized in the income statement: interest income, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses . Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments – when it is probable that UBS will enter into a specific lending relationship – are deferred and amortized over the life of the loan using the EIR method. When the financial asset at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared through central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note ) are presented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI A debt financial asset is measured at FVOCI if: it is held in a business model whose objective is achieved by both holding assets to collect contractual cash flows and selling the assets; and the contractual terms give rise to cash flows that are SPPI. This classification primarily includes debt securities and certain asset-backed securities held as HQLA for which the contractual cash flows meet the SPPI criterion . Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are derecognized (when sold, collected or otherwise disposed). Upon derecognition, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. The following items are recognized in the income statement: interest income, which is accounted for in accordance with item 3c in this Note ECL and reversals foreign exchange translation gains and losses. The amounts recognized in the income sta tement are determined on the same basis as for financial assets measured at amortized cost. Measured at FVTPL Held for trading Financial assets held for trading include: all derivatives with a positive replacement value, except those that are designated and effective hedging instruments; and other financial assets acquired principally for the purpose of selling or repurchasing in the near term, or that are part of a portfolio of identifie d financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and trad ed corporate and bank loans) and equity instruments. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net in come from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain type s of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedging instrumen ts) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash colla teral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). F inancial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at fair value no t held for trading, except for brokerage receivables, which are presented as a separate line item on the Group ’ s balance sheet. Mandatorily measured at FVTPL – Other A financial asset is mandatorily measured at FVTPL if: it is not held in a business model whose objective is to hold assets to collect contractual cash flows or to hold them to collect contractual cash flows and sell ; and / or the contractual terms give rise to cash flows that are not SPPI ; and / or it is not held for trading. The follo wing financial assets are mandatorily measured at FVTPL: c ertain structured loans, certain commercial loans, receivables under reverse repurchase and cash collateral on securities borrowing agreements that are managed on a fair value basis ; loans managed on a fair value basis and hedged with credit derivatives ; c ertain debt securities held as HQLA and managed on a fair value basis ; c ertain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets represent holdings in investment funds, whereby the contractual cash flows do not meet the SPPI criterion because the entry and exit price is based on the fair value of the fund ’ s assets ; b rokerage receivables, for which contractual ca sh flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest being calculated on the individual components ; a uction rate securities, for which contractual cash flows do not meet the SPPI criterion because interest may be reset at rates that contain leverage ; e quity instruments ; and a ssets held under unit-linked investment contracts . Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net in come from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain type s of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedging instrumen ts) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash colla teral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). F inancial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at fair value no t held for trading, except for brokerage receivables, which are presented as a separate line item on the Group ’ s balance sheet. Measured at amortized cost This classification includes: demand and time deposits; retail savings / deposits; amounts payable under repurchase agreements; cash collateral on securities lent; non-structured fixed-rate bonds; subordinated debt; certificates of deposit and covered bonds; and cash collateral payables on derivative instruments. Measured at amortized cost using the EIR method. Upfront fees and direct costs relating to the issuance or origination of the liability are deferred and amortized over the life of the liability using the EIR method. When the financial liability at amorti zed cost is derecognized, the gain or loss is recognized in the income statement. Amortized cost liabilities are presented on the balance sheet primarily as Amounts due to banks, Customer deposits, Payables from securities financing transactions and Debt issued measured at amortized cost. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note for more information ) are presented within Cash collateral payables on derivative instruments. Measured at fair value through profit or loss Held for trading Financial liabilities held for trading include: all derivatives with a negative replacement value (including certain loan commitments) , except those that are designated and effective hedging instruments; and obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (short positions). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on the Group ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Deri vative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral payable |
UBS AG | |
Disclosure Significant Accounting Policies [Line Items] | |
Significant accounting policies | a) Significant accounting policies This Note describes the significant accounting policies applied in the preparation of the consolidated financial statements (the “Financial Statement s”) of UBS AG and its subsidiaries (“UBS”). On 14 March 2019, the Financial Statements were authorized for issue by the Board of Directors. Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are presented in US dollars ( USD ), which is also the functional currency of UBS AG’s Head Office, UBS AG’s London Branch and UBS AG’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as audited form an in tegral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures , and IAS 1, Presentation of Financial Statements , and are not repeated in this section. The accounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. In addition, effective from 1 January 2018, UBS AG applies IFRS 9, Financial Instruments , which substantially changes the accounting for financial assets, and IFRS 15, Revenue from Contracts with Customers , which affects the Group’s revenue recognition, measurement and presentation. Within this note, policies f or prior periods that differ from those applied to the financial year ended 31 December 2018 are id entified as “Comparative policy . ” Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS AG regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions , updat ing them as necessary. Changes in those estimates and assumptions may have a significant effect on the Financial Statements. Further, actual resu lts may differ significantly from UBS AG ’s estimates, which could result in significant loss es to UBS AG , beyond what was anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 24 ) allowances and provisions for expected credit losses (refer to item 3g in this Note and to Note 23 ) assessmen t of the business model and certain contractual features when classifying financial instruments (refer to item 3b in this Note) pension and other post-employment benefit plans (refer to it em 7 in this Note and to Note 29 ) income taxes (refer to item 8 in this Note and to Note 8) goodwill (refer to ite m 11 in this Note and to Note 16 ) provisions and contingent liabilities (refer to item 12 in this Note and to Note 21 ) consolidation of structured entities (refer to item 1 in this Note and to Not e 31) deter mination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency (refer to item 1 3 in this Note and to Not e 1b) 1) Consolidation a. Consolidation principl es The Financial Statements comprise the financial statements of UBS AG and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS AG consolidates all entities that it controls, inc luding controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity ; (ii) exposure to an entity ‘s variable returns ; and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS AG ha s an interest in an entity that exposes it to variability, UBS AG considers whether it has power over the relevant a ctivities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether UBS AG has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements ( such as call rights, put rights or liquidation rights ) as well as potential decision-ma king rights are all considered in this assessment. Where UBS AG has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held i n a principal or agent capacity. Consideration is given to : (i) the scope of decision-making authority ; (ii) rights held by other parties, including removal or other participating rights ; and (iii) exposure to variability, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidi aries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 31 for more information b. Structured entities UBS AG sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, incl uding allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who contro ls the entity. Such entities generally have a narrow and well-defined objective and include those hist orically referred to as special- purpose entities , as well as some investment funds. UBS AG assesses whether an entity is an SE by considering the nature o f the activities of the entity as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS AG considers rights such as the ability to liquidate the entity or remove the decisi on maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SE s. Client investment structured entities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS AG or through an external market transaction. In some cases, UBS AG may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In c ertain cases, UBS AG may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does not have a substantive effect on variability, or are actively managed , and investors or their governing bodies do not have substantive voting or similar rights. UBS AG creates and sponsors a large number of funds in which it may have an interest through the receipt of variable management fees and / or a direct investment. In addition, UBS AG has interests in a number of funds created and sponsored by third parties, including exchange-traded funds a nd hedge funds, to hedge issued structured products. When UBS AG does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting e stimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS AG ’s involvement are unique to each entity, there is no uniform consolidation outcome by entity. Certain entities within a class may be consolidated while others may not. When carrying out the consolidation assessment, judgment is exercised considering all t he relevant facts and circumstances, including the nature and activities of the investee, as well as the substance of voting and similar rights. Refer to Note 31 for more information 2) Segment reporting Prior to the first quarter 2018, UBS AG‘s businesses were organized globally into five business divisions: W ealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualif ied as reportable segments for the purpose of segment r eporting and, together with Corporate Center, reflect ed the management structure of UBS . AG Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Corporate Center. Financial information about the fiv e business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Group ALM), Non-core and Legacy Portfolio) was presented separately in internal reporting to management . Effective from the first quarter of 2018, U BS AG combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performance targets and an int egrated operating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports. Consequently, from 2018, Global Wealth Management qua lifies as an operating and reportable segment for the purposes of segment reporting and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Bank and Corporate Center (with its units Services, Group ALM and Non-core and Legacy Portfolio). Following the change in the composition of UBS AG’s operating segments and corresponding reportable segments, previously reported segment information has been restated. This change has no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information UBS AG ’s internal accounting policies, which include management accounting policies and service level agreements, deter mine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commissions are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for UBS AG are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Interest income earned from managing UBS AG ’s consolidated equity is allocated to the reportabl e segments based on average attributed equity and currency composition . Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each rep ortable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to management . Certain assets managed centrally by Corporate Center – Services and Corporate Center – Gro up ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center , notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the operating segments. Similarly, certain assets are reported in the business divi sions, whereas the corresponding costs or revenues are entirely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recov ered more than 12 months after the reporting date, excluding financial instruments, deferred tax assets and post-employment benefits. Refer to Note s 1 b and 2 for more information 3) Financial instruments a. Recognit ion UBS AG recognizes financial instruments when it becomes a party to the contractual provisions of the instrument. UBS AG applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS AG acts a s a transferee, to the extent that the transfer of a financial asset does not qualify for derecognition by the t ransferor, UBS AG does not recogniz e the transferred instrument as its asset. UBS AG also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS AG’s balance sheet. Consequently, the related income i s excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, UBS AG neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instr uments are initially measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOCI) , the initial fair value is adjusted for directly attributable transaction cos ts. Policy applicable from 1 January 2018 1 On initial recognition, financial assets are classified as measured at amortized cost, FVOCI, or fair value through profit or loss (FVTPL). A debt instrument is measured at amortized cost if it meets the followin g conditions: it is held within a business model that has an objective to hold financial assets to collect contractual cash flows ; and the contractual terms of the financial asset result in cash flows that are solely payments of principal and interest (SPP I) on the principal amount outstanding. A debt instrument is measured at FVOCI if it meets both of the following conditions: it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial ass ets ; and the contractual terms of the financial asset result in cash flows that are SPPI on the principal amount outstanding . All other financial assets are measured at FVTPL and consist of held for trading assets, assets mandatorily measured on a fair va lue basis and derivatives, except to the extent that they are designated in a hedging relationship, in which case the IAS 39 hedge accounting requirements continue to apply. Business model assessment UBS AG determines the nature of the business model, for example if the objective is to hold the financial asset and collect the contractual cash flows, by considering the way in which the financial assets are managed to achieve a particular business objective as determined by management. Financial assets that are held for trading or managed on a fair value basis are measured at FVTPL insofar as the associated business model is neither to hold the financial assets to collect contractual cash flows nor to hold to collect contractual cash flows and sell. UBS AG o riginates loans to hold to maturity and to sell or sub-participate to other parties, resulting in a transfer of substantially all the risks and rewards, and derecognition of the loan or portions of it. UBS AG considers the activities of lending to hold and lending to sell or sub-participate as two separate business models, with financial assets within the former considered to be within a business model that has an objective to hold the assets to collect contractual cash flows, and those within the latter i ncluded in a trading portfolio. In certain cases, it may not be possible on origination to identify whether loans or portions of loans will be sold or sub-participated and certain loans may be managed on a fair value basis through, for instance, using cred it derivatives. These financial assets are mandatorily measured at FVTPL. Critical accounting estimates and judgments UBS AG exercises judgment in determining the appropriate level at which to assess its business models. In general, the assessment is performed at the product level, e.g., retail and commercial mortgages. In other cases, the assessment is carried out at a more granular level, e.g., loan portfolios by region, and, if required, further disaggregation is performed by business strategy. A de tailed assessment is carried out considering how the financial assets are evaluated and reported to UBS AG’s key management, the risks that affect the performance of the business and the way that management is compensated. In addition, UBS AG exercises jud gment in determining the effect of sales of financial instruments on the business model assessment. In particular, an assessment is made on whether and the extent to which sales are consistent with the objective of the business model. Contractual cash flow characteristics In assessing whether the contractual cash flows are SPPI, UBS AG considers whether the contractual terms of the financial asset contain a term that could change the timing or amount of contractual cash flows arising o ver the life of the instrument, which could affect whether the instrument is considered to meet the SPPI criterion. For example, UBS AG holds portfolios of private mortgage contracts and corporate loans in Personal & Corporate Banking that commonly contain clauses that provide for two-way compensation if prepayment occurs. The amount of compensation paid by or to UBS AG reflects the effect of changes in market interest rates. UBS AG has determined that the inclusion of the change in market interest rates in the compensation amount is reasonable for the early termination of the contract, and therefore results in contractual cash flows that are SPPI. Critical accounting estimates and judgments UBS AG applies judgment when considering whether certain contractual features, such as interest rate reset frequency or non-recourse features, significantly affect future cash flows and whether compensation paid or received on early termination of lending arrangements results in cash flows that are not SPPI. A t horough analysis of all relevant facts and circumstances is assessed before concluding whether contractual cash flows of the financial instrument are consistent with payments representing principal and interest. After initial recognition, UBS AG classif ies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. 1 The accounting policy in this section applies from 1 January 2018, the effective d ate of IFRS 9. For the details of transition effects refer to Note 1c. Measured at amortized cost A debt financial asset is measured at amortized cost if: it is held in a business model that has an objective to hold assets to collect contractual cash flows; and the contractual terms give rise to cash flows that are SPPI . This classification includes: cash and balances at central banks loans and advances to banks cash collateral receivable s on securities borrowed receivables on reverse repurchase agree ments cash collateral receivables on derivative instruments residential and commercial mortgages corporate loans secured loans, including Lombard loans, and unsecured loans loans to financial advisors debt securities held as high-quality liquid assets (HQLA) fee and lease receivables . Measured at amortized cost using the effective interest rate (EIR) method less allowances for expected credit losses (ECL) (refer to items 3c and 3g in this Note for more information). The following items are recognized in the income statement: i nterest in come, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses . Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments – when it is probable that UBS AG will enter into a specific lending relationship – are deferred and amortized over the life of the loan using the EIR method. When the financial asset at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared throu gh central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note ) are presented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI A debt financial asset is measured at FVOCI if: it is held in a business model whose objective is achieved by both holding assets to collect contractual cash flows and selling the assets ; and the contractual terms give rise to cash flows that are SPPI. This classification primarily includes debt securities and certain asset-backed securities held as HQLA for which the contractual cash flows meet the SPPI criterion . Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are derecognized (when sold, collected or otherwise disposed). Upon derecognition, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. The following items are recognized in the income statement: i nterest income, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses. The amounts recognized in the income statement are determined on the same basis as for financial assets measured at amortized cost. Measured at FVTPL Held for trading Financial assets held for trading include: all derivatives with a positive replacement value , except those that are designated and effective hedging instruments; and other financial assets acquired principally for the purpose of selling or repurchasing in the near term, or that are part of a portfolio of identifie d financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and trad ed corporate and bank loans) and equity instruments. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedgi ng instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented withi n Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more info rmation). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at f air value not held for trading, except for brokerage receivables, which are presented as a separate line item on UBS AG ’ s balance sheet. Mandatorily measured at FVTPL – Other A financial asset is mandatorily measured at FVTPL if: it is not held in a business model whose objective is to hold assets to collect contractual cash flows or to hold them to collect contractual cash flows and sell ; and / or the contractual terms give rise to cash flows that are not SPPI ; and / or it is not held for trading. The following financial assets are mandatorily measured at FVTPL: c ertain structured loans, certain commercial loans, receivables under reverse repurchase and cash collateral on securities borrowing agreements that are managed on a fair value basis ; l oans managed on a fair value basis and hedged with credit derivatives ; c ertain debt securities held as HQLA and managed on a fair value basis ; c ertain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee comp ensation plans. These assets represent holdings in investment funds, whereby the contractual cash flows do not meet the SPPI criterion because the entry and exit price is based on the fair value of the fund ’ s assets ; b rokerage receivables, for which contr actual cash flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest being calculated on the individual components ; a uction rate securities, for which contractual cash flows do not meet the SPPI criterion because interest may be reset at rates that contain leverage ; e quity instruments ; and a ssets held under unit-linked investment contracts . Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedgi ng instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented withi n Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more info rmation). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at f air value not held for trading, except for brokerage receivables, which are presented as a separate line item on UBS AG ’ s balance sheet. Measured at amortized cost This classification includes: d emand and time deposits ; retail savings / deposits ; amounts payable under repurchase agreements ; cash collateral on securities lent ; non-structured fixed-rate bonds ; subordinated debt ; certificates of deposit and covered bonds ; obligations against funding from UBS G roup AG and its subsidiaries ; and c ash collateral payables on derivative instruments . Measured at amortized cost using the EIR method. Upfront fees and direct costs relating to the issuance or origination of the liability are deferred and amortized over the life of the liability using the EIR method. When the financial liability at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amortized cost liabilities are presented on the balance sheet primarily as Amounts due to banks, Customer deposits, Payables from securities financing transactions , Debt issued measured at amortized cost and Funding from UBS Group AG and its subsidiaries . Amounts arising from ETD and certain OTC derivatives cleared through central clea ring counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note for more information ) are presented within Cash collateral payables on derivative instruments. Measured at fair value through profit or loss Held for trading Financial liabilities held for trading include: a ll derivatives with a negative replacement value (including certain loan commitments) , except those that are designated and effective hedging instruments ; and o bligations to deliver financial instruments, such as debt and equity instruments, that UBS AG has sold to third parties, but does not own (short positions). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS AG ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on UBS AG ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in su bstance net settled on a daily basis, which are presented within Cash collateral payables on derivative instruments. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measur |
Changes in accounting policies,
Changes in accounting policies, comparability and adjustments | 12 Months Ended |
Dec. 31, 2018 | |
Changes In Accounting Policies Comparability And Adjustments [Line Items] | |
Changes in accounting policies, comparability and adjustments | b) Changes in accounting policies, comparability and other adjustments, excluding the effects of adoption of IFRS 9, Financial Instruments 1) C hanges in functional and presentation currency Change in functional currencies As a consequence of legal entity structural changes over recent years – notably the transfer of the Personal & Corporate Banking and Global Wealth Management businesses booked i n Switzerland from UBS AG to UBS Switzerland AG, and the creation of UBS Business Solutions AG, which houses a significant portion of the employees and associated costs that were previously held in UBS AG’s Head Office in S witzerland and UBS AG’s London B r anch – a concentration of US dollar-influenced and - managed business activities now exist in UBS AG’ s Head Office in Switzerland and UBS AG ’ s London Branch. In addition, from the fourth quarter of 2018, for risk management purposes UBS adopted the US dolla r as the risk-neutral currency and has adjusted its structural risk positions accordingly. As a result of these changes, effective from 1 October 2018, the functional currency of UBS Group AG and UBS AG ’s Head Of fice in Switzerland changed prospectively fr om Swiss francs to US dollars and that of UBS AG ’ s London Branch changed from British pounds to US dollars, in compliance with the requirements of IAS 21, The Effects of Changes in Foreign Exchange Rates. Change in presentation currency In 2018 , the presen tation currency of UBS Group AG’s consolidated financial statements has changed from Swiss francs to US dollars to align with the functional c urrency changes of significant G roup entities. UBS has restated prior periods for this voluntary presentational ch ange in line with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors , from 1 January 2004. This point in time represented the earliest date from which it was practicable to perform a restatement, given the lack of sufficiently reliable data for earlier periods. As a consequence, foreign currency translation (FCT) gains or losses prior to 2004 have been disregarded, with FCT effects first calcula ted from 1 January 2004 onward. In addition, UBS has included a second comparative balance s he et as of 1 January 2017 in line with IAS 1, Presentation of Financial Statements . Income and expenses as well as Other comprehensive income (OCI) were translated to US dollars at the respective average exchange rates prevailing for the relevant periods. Additionally, Other income was restated to reflect releases of FCT gains or losses from OCI to the income statement when calculated under the new US dollar presentation currency. The effect of such restatements for 2018, 2017 and 2016 was not material to t he income statements of these periods. Assets, liabilities and total equity were translated at closing exchange rates prevailing on the respective balance sheet dates , after reflection of deferred tax effects relating to the restatement . Share capital iss ued, share premium and treasury shares held were translated at historic average rates, whereby differences between historic average rate and closing exchange rate realized upon repayment of share capital or disposal of treasury shares were reported as Shar e premium . Cumulative amounts recogniz ed in OCI in respect of cash flow hedges and financial assets measured at FVOCI (p rior to 1 January 2018 : financial assets classified as available for sale) were translated at closing exchange rate as of respective bal ance sheet dates, with any translation effects adj usted through Retained earnings . The restated FCT balance as of 1 October 2018 included a cumulative gain of USD 767 million related to previously applied net investment hedges entered into by UBS Group AG or UBS AG ’ s Head Office to hedge investments in foreign operations against their former Swiss franc functional currency. The restated basic and diluted earnings per share (EPS) were USD 0.26 and USD 0.25 for the year ended 31 December 2017, which compares to CHF 0.28 and CHF 0.27 basic and diluted EPS under the previous Swiss franc presentation currency. For the year ended 31 December 2016, restated basic and diluted EPS were USD 0.90 and USD 0.88, which compares to CHF 0.86 and CHF 0.84 basic and diluted EPS under the previous Swiss franc presentation currency . Effect of the change in the Group’s presentation currency from Swiss francs to US dollars As of or for the year ended 31.12.17 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 395 385 Share premium 23,598 26,613 25,942 Treasury shares (2,210) (2,189) (2,133) Retained earnings 25,932 33,599 32,752 Other comprehensive income recognized directly in equity, net of tax 4,838 (5,880) (5,732) Equity attributable to shareholders 52,495 52,538 51,214 Equity attributable to non-controlling interests 59 59 57 Total equity 52,554 52,597 51,271 Income statement Other income 511 515 509 Total operating income 29,622 29,627 29,067 Operating profit / (loss) before tax 5,351 5,355 5,268 Tax expense / (benefit) 4,305 4,234 4,139 Net profit / (loss) 1,046 1,121 1,128 Net profit / (loss) attributable to non-controlling interests 77 77 76 Net profit / (loss) attributable to shareholders 969 1,044 1,053 As of or for the year ended 31.12.16 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 378 385 Share premium 25,958 27,761 28,254 Treasury shares (2,362) (2,210) (2,249) Retained earnings 25,029 31,170 31,725 Other comprehensive income recognized directly in equity, net of tax 3,953 (4,416) (4,494) Equity attributable to shareholders 52,916 52,683 53,621 Equity attributable to non-controlling interests 670 670 682 Total equity 53,586 53,353 54,302 Income statement Other income 663 603 599 Total operating income 28,729 28,669 28,320 Operating profit / (loss) before tax 4,209 4,149 4,090 Tax expense / (benefit) 777 816 805 Net profit / (loss) 3,432 3,333 3,286 Net profit / (loss) attributable to non-controlling interests 84 84 82 Net profit / (loss) attributable to shareholders 3,348 3,250 3,204 As of or for the year ended 31.12.15 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 384 385 Share premium 28,966 31,113 31,164 Treasury shares (1,806) (1,690) (1,693) Retained earnings 22,672 29,455 29,504 Other comprehensive income recognized directly in equity, net of tax 5,166 (4,040) (4,047) Equity attributable to shareholders 55,336 55,221 55,313 Equity attributable to non-controlling interests 1,992 1,992 1,995 Total equity 57,328 57,213 57,308 1 Amounts presented in this column represent a translation of the previously published information under a Swiss franc presentation currency, translated to US dollars using a simplified approach. Assets, liabilities and equity were translated to US dollars at closing exchange rates prevailing on the respective balance sheet dates, and income and expenses were translated at the respective average rates prevailing for the relevant periods. 2) IFRS 15, Revenue from Contracts with Customers Effective from 1 January 2018, UBS adopted IFRS 15, Revenue from Contracts with Customers , which replaced IAS 18, Revenue, and establishes principles for revenue recognition that ap ply to all contracts with customers except those relating to financial instruments, leases and insurance contracts. The standard requires an entity to recognize revenue as performance obligations are satisfied. IFRS 15 specifies that variable consideratio n is only recognized when the related performance obligation has been satisfied and to the extent that it is highly probable that a significant reversal will not occur when the uncertainty associated with the variable consideration is subsequently resolved . IFRS 15 also provides guidance on when revenues and expenses should be presented on a gross or net basis and establishes a cohesive set of disclosure requirements for information on the nature, amount, timing and uncertainty of revenue and cash flows fro m contracts with customers. As permitted by the transitional provisions of IFRS 15, UBS elected not to restate comparative figures. Instead, the cumulative effect of initially applying the standar d was recognized as an adjustment to the opening balance of retained earnings. A transition adjustment of USD 28 million on a pre-tax basis and USD 25 million net of tax was posted to retained earnings to reverse income recognized prior to 1 January 2018 u nder IAS 18 that must be deferred under IFRS 15, either owing to the variable consideration constraint (asset management performance fees of USD 16 million) or because UBS does not have an enforceable right to a specified amount of consideration (commissio n-sharing agreements for research services of USD 11 million). The adoption of IFRS 15 resulted in changes to UBS’s accounting policies applicable from 1 January 2018 as set out in Note 1a. Following the adoption of IFRS 15, fee and commission income is p resented in the income statement separately from fee and commission expense. Where UBS is acting as principal as defined by IFRS 15, costs of fulfilling contracts are required by IFRS 15 to be presented separately in the income statement within Fee and com mission expense. Where UBS is acting as agent as defined by IFRS 15, costs of fulfilling contracts are required to be presented as a reduction in Fee and commission income. This resulted in a reclassification of certain brokerage fees paid in an agency cap acity from Fee and commission expense to Fee and commission income from 1 January 2018 , primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. Other presentation changes In addition to the IFRS 15 changes, certain revenues presented within Fee and commission income , primarily distribution fees and fund management fees, have been reclassified between reporting lines in Note 4 to better reflect the nature of the revenues, with comparative-period information restated accordingly. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission ex pense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, and fund and custody expenses. As the effect of this reclassification was not material, prior-period inf ormation was not restated. Refer to Note 4 for more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers 3 ) Changes in segment reporting Effective from the first quarter of 2018, UBS combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performance targets and a unified op erating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports to the Group Executive Board, which is considered the chief oper ating decision maker pursuant to IFRS 8, Operating Segments . Consequently, beginning from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented alongside Personal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Center (with its units Services, Group Asset and Liability Management and Non-core and Legacy Portfolio). 4 ) IFRS 7, Financial Instruments: Disclosures IFRS 7, Financial Instruments: Disclosures, was updated in line with IFRS 9, Financial Instruments . UBS adopted the revised requirements on 1 January 2018, which is the date of initial application of IFRS 9. IFRS 9 transition disclosures as set out by IFRS 7 are presented in Note 1c. In line with amendments to IFRS 7, from 1 January 2018, UBS separately presents hedging gains and losses recognized during the period in the statement of c omprehensive income and the amounts reclassified to the income statement. More specifically, the effective portion of changes in fair value of hedging instruments designated as net investment hedges (before tax) recognized in other comprehensive income and the amounts reclassified to the income statement, previously included within Foreign currency translation movements, before tax and Foreign exchange amounts reclassified to the income statement from equity , are now presented in Effective portion of change s in fair value of hedging instruments designated as net investment hedges, before tax and Effective portion of changes in fair value of hedging instruments designated as net investment hedges reclassified to the income statement , respectively. Furthermor e, the line Foreign exchange amounts reclassified to the income statement from equity was renamed to Foreign currency translation differences on foreign operations reclassified to the income statement , and the line Income tax relating to foreign currency t ranslation movements was renamed to Income tax relating to foreign currency translations, including the effect of net investment hedges. In addition , while retaining hedge accounting under IAS 39, from 2018 the Group presents new disclosure s to reflect the effects of hedge accounting on the Group’s financial statements as required by consequential amendments of IFRS 7. The enhanced disclosures are included in the “ Derivatives transacted for hedging purposes ” section of Note 28 . Specifically, hedging disclos ures now include a more extensive description of UBS’s hedging strategies as risk management tools , and effects of hedge accounting on financial position and performance are structured in tabular format. These additional disclosures are presented prospectively from 1 January 2018. 5 ) Amendments to IAS 1, Presentation of Financial Statements In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, in the income statement , UBS presents interest income and interes t expense, calculated using the effective interest method, on financial instruments measured at amortized cost and financial assets measured at fair value through other comprehensive income separately from interest income and expense on financial instrumen ts measured at fair value through profit or loss . Refer to Note 3 for more information 6) Change in presentation of forward points on certain long-duration foreign exchange contracts transacted as economic hedges Effective from 1 January 2018, UBS refined the presentation of forward points on certain long-duration foreign exchange contracts transacted as economic hedges, transferring the forward points from Other net income from fair value changes on financial inst ruments (prior to 1 January 2018: Net trading income ) to Interest income from financial instruments measured at fair value through profit or loss to align with the presentation of forwa rd points on certain short-duration foreign exchange contracts. The amo unt of forward points on certain long-duration foreign exchange contracts recognized in Interest income from financial instruments measured at fair value through profit or loss did not have a material effect on the Group ’s financial statements and prior pe riods have not been restated. 7) IFRS Interpretations Committee, Payments relating to taxes other than income tax During the second quarter of 2018, UBS refined its treatment of prepayments or overpayments in relation to uncertain tax positions outside of the scope of IAS 12, Income Taxes , following the IFRS Interpretation Committee’s discussion on Payments relating to taxes other than income tax . More specifically, prepayments for uncertain tax positions that have not yet given rise to a liability are reco gnized as assets because UBS will either receive a cash rebate or a benefit through the extinguishment of a future liability. Adoption of the change did not have a material effect on UBS’s financial statements. |
UBS AG | |
Changes In Accounting Policies Comparability And Adjustments [Line Items] | |
Changes in accounting policies, comparability and adjustments | b) Changes in accounting policies, comparability and other adjustments, excluding the effects of adoption of IFRS 9, Financial Instruments 1) C hanges in functional and presentation currency Change in functional currencies As a consequence of legal entity structural changes over recent years – notably the transfer of the Personal & Corporate Banking and Global Wealth Management businesses boo ked in Switzerland from UBS AG to UBS Switzerland AG, and the creation of UBS Business Solutions AG, which houses a significant portion of the employees and associated costs that were previously held in UBS AG’s Head Office in Switzerland and UBS AG’s Lond on B ranch – a concentration of US dollar-influenced and - managed business activities now exist in UBS AG ’ s Head Office in Switzerland and UBS AG ’ s London Branch. In addition, from the fourth quarter of 2018, for risk management purposes UBS AG adopted the US dollar as the risk-neutral currency and has adjusted its structural risk positions accordingly. As a result of these changes, effective from 1 October 2018, the functional currency of UBS AG ’s Head O ffice in Switzerland changed prospectively from Swiss francs to US dollars and that of UBS AG ’ s London Branch changed from British pounds to US dollars, in compliance with the requirements of IAS 21, The Effects of Changes in Foreign Exchange Rates. Change in presentation currency In 2018 , the presentation cu rrency of UBS AG ’ s consolidated financial statements has changed from Swiss francs to US dollars to align with the functional c urrency changes of significant G roup entities. UBS AG has restated prior periods for this voluntary presentational change in line with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors , from 1 January 2004. This point in time represented the earliest date from which it was practicable to perform a restatement, given the lack of sufficiently reliable data for ear lier periods. As a consequence, foreign currency translation (FCT) gains or losses prior to 2004 have been disregarded, with FCT effects first calcul ated from 1 January 2004 onward . In addition, UBS AG has included a second comparative balance s heet as of 1 January 2017 in line with IAS 1, Presentation of Financial Statements . Income and expenses as well as Other comprehensive income (OCI) were translated to US dollars at the respective average exchange rates prevailing for the relevant periods. Additional ly, Other income was restated to reflect releases of FCT gains or losses from OCI to the income statement when calculated under the new US dollar presentation currency. The effect of such restatements for 2018, 2017 and 2016 was not material to the income statements of these periods. Assets, liabilities and total equity were translated at closing exchange rates prevailing on the respective balance sheet dates , after reflection of deferred tax effects relating to the restatement . Share capital issued, share premium and treasury shares held were translated at historic average rates, whereby differences between historic average rate and closing exchange rate realized upon repayment of share capital or disposal of treasury shares were reported as Share premium. Cumulative amounts recogniz ed in OCI in respect of cash flow hedges and financial asse ts measured at FVOCI (prior to 1 January 2018 : financial assets classified as available for sale) were translated at closing exchange rate as of respective balance sheet dates, with any translation effects adjusted through Retained earnings . The restated FCT balance as of 1 October 2018 included a cumulative gain of USD 767 million related to previously applied net investment h edges entered into by UBS AG’ s Head Office t o hedge investments in foreign operations against their former Swiss franc functional currency. As of or for the year ended 31.12.17 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 396 386 Share premium 24,633 27,663 26,966 Retained earnings 22,189 29,855 29,102 Other comprehensive income recognized directly in equity, net of tax 4,828 (5,884) (5,736) Equity attributable to shareholders 51,987 52,030 50,718 Equity attributable to non-controlling interests 59 58 57 Total equity 52,046 52,088 50,775 Income statement Other income 952 956 939 Total operating income 30,044 30,049 29,479 Operating profit / (loss) before tax 5,076 5,080 4,998 Tax expense / (benefit) 4,242 4,171 4,077 Net profit / (loss) 834 909 921 Net profit / (loss) attributable to preferred noteholders 73 73 72 Net profit / (loss) attributable to non-controlling interests 4 4 4 Net profit / (loss) attributable to shareholders 758 833 845 As of or for the year ended 31.12.16 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 379 386 Share premium 27,154 28,989 29,505 Retained earnings 21,480 27,771 28,265 Other comprehensive income recognized directly in equity, net of tax 3,985 (4,415) (4,494) Equity attributable to shareholders 52,957 52,724 53,662 Equity attributable to preferred noteholders 631 631 642 Equity attributable to non-controlling interests 39 39 40 Total equity 53,627 53,393 54,343 Income statement Other income 749 689 685 Total operating income 28,831 28,770 28,421 Operating profit / (loss) before tax 4,188 4,128 4,069 Tax expense / (benefit) 753 792 781 Net profit / (loss) 3,435 3,336 3,288 Net profit / (loss) attributable to preferred noteholders 80 80 78 Net profit / (loss) attributable to non-controlling interests 4 4 4 Net profit / (loss) attributable to shareholders 3,351 3,252 3,207 As of or for the year ended 31.12.15 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 385 386 Share premium 27,126 29,429 29,477 Retained earnings 22,664 29,385 29,433 Other comprehensive income recognized directly in equity, net of tax 5,144 (4,040) (4,047) Equity attributable to shareholders 55,272 55,157 55,248 Equity attributable to preferred noteholders 1,951 1,951 1,954 Equity attributable to non-controlling interests 41 41 41 Total equity 57,264 57,149 57,243 1 Amounts presented in this column represent a translation of the previously published information under a Swiss franc presentation currency, translated to US dollars using a simplified approach. Assets, liabilities and equity were translated to US dollars at closing exchange rates prevailing on the respective balance sheet dates, and income and expenses were translated at the respective average rates prevailing for the relevant periods. 2) IFRS 15, Revenue from Contracts with Customers Effective from 1 January 2018, UBS AG adopted IFRS 15, Revenue from Contract s with Customers , which replaced IAS 18, Revenue, and establishes principles for revenue recognition that apply to all contracts with customers except those relating to financial instruments, leases and insurance contracts. The standard requires an entity to recognize revenue as performance obligations are satisfied. IFRS 15 specifies that variable consideration is only recognized when the related performance obligation has been satisfied and to the extent that it is highly probable that a significant reve rsal will not occur when the uncertainty associated with the variable consideration is subsequently resolved. IFRS 15 also provides guidance on when revenues and expenses should be presented on a gross or net basis and establishes a cohesive set of disclos ure requirements for information on the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. As permitted by the transitional provisions of IFRS 15, UBS AG elected not to restate comparative figures. Instead, the cumulative effect of initially applying the standard was recognized as an adjustment to the opening balance of retained earnings. A transition adjustment of USD 28 million on a pre-tax basis and USD 25 million net of tax was posted to retained earnings to reverse income recognized prior to 1 January 2018 under IAS 18 that must be deferred under IFRS 15, either owing to the variable consideration constraint (asset management performance fees of USD 16 million) or because UBS AG does not have an enforceable right to a specified amount of c onsideration (commission-sharing agreements for research services of USD 11 million). The adoption of IFRS 15 resulted in changes to UBS AG’s accounting policies applicable from 1 January 2018 as set out in Note 1a. Following the adoption of IFRS 15, fee and commission income is presented in the income statement separately from fee and commission expense. Where UBS AG is acting as principal as defined by IFRS 15, costs of fulfilling contracts are required by IFRS 15 to be presented separately in the income statement within Fee and commission expense. Where UBS AG is acting as agent as defined by IFRS 15, costs of fulfilling contracts are required to be presented as a reduction in Fee and commission income. This resulted in a reclassification of certain brok erage fees paid in an agency capacity from Fee and commission expense to Fee and commission income from 1 January 2018 , primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research p roviders on behalf of clients. Other presentation changes In addition to the IFRS 15 changes, certain revenues presented within Fee and commission income , primarily distribution fees and fund management fees, have been reclassified between reporting lines in Note 4 to better reflect the nature of the revenues, with comparative-period information restated accordingly. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative e xpenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, and fund and custody expenses. As the effect of this reclassification wa s not material, prior-period information was not restated. Refer to Note 4 for more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers 3 ) Changes in segment reporting Effec tive from the first quarter of 2018, UBS AG combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performance targets and a unified operating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports. Consequently, begin ning from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented alongside Personal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Center (with its u nits Services, Group Asset and Liability Management and Non-core and Legacy Portfolio). 4 ) IFRS 7, Financial Instruments: Disclosures IFRS 7, Financial Instruments: Disclosures, was updated in line with IFRS 9, Financial Instruments . UBS AG adopted the revised requirements on 1 January 2018, which is the date of initial application of IFRS 9. IFRS 9 transition disclosures as set out by I FRS 7 are presented in Note 1c. In line with amendments to IFRS 7, from 1 January 2018, UBS AG separately presents hedging gains and losses recognized during the period in the statement of comprehensive income and the amounts reclassified to the income st atement. More specifically, the effective portion of changes in fair value of hedging instruments designated as net investment hedges (before tax) recognized in other comprehensive income and the amounts reclassified to the income statement, previously inc luded within Foreign currency translation movements, before tax and Foreign exchange amounts reclassified to the income statement from equity , are now presented in Effective portion of changes in fair value of hedging instruments designated as net investme nt hedges, before tax and Effective portion of changes in fair value of hedging instruments designated as net investment hedges reclassified to the income statement , respectively. Furthermore, the line Foreign exchange amounts reclassified to the income s tatement from equity was renamed to Foreign currency translation differences on foreign operations reclassified to income statement , and the line Income tax relating to foreign currency translation movements was renamed to Income tax relating to foreign cu rrency translations, including the effect of net investment hedges. In addition , while retaining hedge accounting under IAS 39, from 2018 UBS AG presents new disclosure s to reflect the effects of hedge accounting on its financial statements as required by consequential amendments of IFRS 7. The enhanced disclosures are included in the “Derivatives transacted for hedging purposes” section of Note 28 . Specifically, hedging disclosures now include a more extensive description of UBS AG’s hedging strategies as risk management tools , and effects of hedge accounting on financial position and performance are structured in tabular format. These additional disclosures are presented prospectively from 1 January 2018. 5 ) Amendments to IAS 1, Presentation of Financial Statements In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, in the income statement , UBS presents interest income and interest expense, calculated using the effective interest rate method, on financial instrument s measured at amortized cost and financial assets measured at fair value through other comprehensive income separately from interest income and expense on financial instruments measured at fair value through profit or loss . Refer to Note 3 for more informa tion 6) Change in presentation of forward points on certain long-duration foreign exchange contracts transacted as economic hedges E ffective from 1 January 2018, UBS AG refined the presentation of forward points on certain long-duration foreign exchange c ontracts transacted as economic hedges, transferring the forward points from Other net income from fair value changes on financial instruments (prior to 1 January 2018: Net trading income ) to Interest income from financial instruments measured at fair valu e through profit or loss to align with the presentation of forwa rd points on certain short-duration foreign exchange contracts. The amount of forward points on certain long-duration foreign exchange contracts recognized in Interest income from financial in struments measured at fair value through profit or loss did no t have a material effect on UBS AG ’s financial statements and prior periods have not been restated. 7) IFRS Interpretations Committee, Payments relating to taxes other than income tax During the second quarter of 2018, UBS AG refined its treatment of prepayments or overpayments in relation to uncertain tax positions outside of the scope of IAS 12, Income Taxes , following the IFRS Interpretation Committee’s discussion on Payments relatin g to taxes other than income tax . More specifically, prepayments for uncertain tax positions that have not yet given rise to a liability are recognized as assets because UBS AG will either receive a cash rebate or a benefit through the extinguishment of a future liability. Adoption of the change did not have a material effect on UBS AG ’s financial statements. |
IFRSs and interpretations to be
IFRSs and interpretations to be adopted and other adjustments | 12 Months Ended |
Dec. 31, 2018 | |
IFRSs And Interpretations To Be Adopted And Other Adjustments [Line Items] | |
IFRSs and interpretations to be adoptedand other adjustments | d ) International Financial Reporting Standards and In terpretations to be adopted in 201 9 and later and other changes IFRS 16, Leases UBS will adopt IFRS 16, Leases , on 1 January 2019. This will fundamentally change how UBS accounts for operating leases when acting as a lessee, with a requirement to rec ord a lease obligation and a right-of-use asset on the balance sheet. Upon adoption of IFRS 16, assets and liabilities are expected to increase by approximately USD 3.5 billion with no material effect to the Group’s equity. Changes in Corporate Center cost allocations and equity attribution to business divisions as of the first quarter of 2019 In order to further align Group and divisional performance, UBS will adjust the methodology for the allocation of Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS is updating its funds transfer pricing framework to better reflect the sources and usage of funding. All of these changes are effective as of 1 January 2019 and prior-period segment information will be restated . Together, these changes will decrease the business divisions’ operating results and thereby increase their adjusted cost / income ratios by approximately 1- 2 percentage points, with an offsetting effect of approximately USD 0.7 billion in Corpo rate Center ’ s operating profit / (loss) before tax. Corporate Center will retain funding costs for deferred tax assets, costs relating to UBS’s legal entity transformation program and other costs not attributable to or representative of the performance of the business divisions. Alongside the update to allocations and UBS’s funds transfer pricing framework, the Group is increasing the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in approximately USD 220 bi llion of assets allocated from Corporate Center to the business divisions in restated 2018 numbers, predominantly from high-quality liquid assets and certain other assets centrally managed on behalf of the business divisions. Upon adoption of IFRS 16, Leas es , as of 1 January 2019, UBS intends to additionally allocate approximately USD 3.5 billion of newly recognized right of use assets to the business divisions. Changes to Corporate Center segment reporting effective first quarter 2019 As announced in the third quarter 2018 report, UBS will no longer separately assess the performance of Non-core and Legacy Portfolio, given its substantially reduced size and resource consumption. In addition, following the aforementioned changes to UBS’s methodology for allo cating funding costs and expenses from Corporate Center – Services and Corporate Center – Group Asset and Liability Management ( Group ALM ) to the business divisions, the operating loss retained in Corporate Center – Services and Corporate Center – Group ALM will be significantly reduced. As a consequence and in compliance with IFRS 8, Operating Segments , beginning with the first quarter 2019 report, UBS will provide results for total Corporate Center only and will not separately report Corporate Cen ter – Services, Group ALM and Non-core and Legacy Portfolio. Furthermore, UBS will operationally combine Group Treasury with Group ALM and call this combined unit Group Treasury. Commentary on performance of this function will be included in the Corporate Center management discussion and analysis in UBS’s quarterly and annual reporting. Former Group ALM total risk management net income after allocations will continue to be disclosed separately. Prior-period information will be restated. IFRIC 23, Uncertaint y over Income Tax Treatments In June 2017, the IASB issued IFRIC Interpretation 23, Uncertainty over Income Tax Treatments (IFRIC 23), which addresses how uncertain tax positions should be accounted for under IFRS. IFRIC 23 requires that, where acceptance of the tax treatment by the relevant tax authority is considered probable, it should be assumed as an accounting recognition matter that treatment of the item will ultimately be accepted. Therefore, no tax provision would be required in such cases. However , if acceptance of the tax treatment is not considered probable, the entity is required to reflect that uncertainty using an expected value (i.e., a probability-weighted approach) or the single most likely amount. IFRIC 23 is mandatorily effective for acc ounting periods beginning on or after 1 January 2019 and any resulting change to the tax provisions should be recognized in retained earnings. UBS expects to recognize a net tax expense of USD 11 million in retained earnings on 1 January 2019 in respect of the adoption of IFRIC 23 , which will be reflected in our first quarter 2019 report. Amendments to IAS 19, Employee Benefits In February 2018, the IASB issued amendments to IAS 19, Employee Benefits , which address the accounting when a plan amendment, curtailment or settlement occurs during the reporting period. The amendments require entities to use the updated actuarial assump tion to determine current service cost and net interest for the remainder of the annual report ing period after such an event. The amendments also clarify how the requirements for accounting for a plan amendment, curtailment or settlement affect the asset c eiling requirements. The amendment s are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019 . The adoption will have no effect on the Group’s financial statements on transition at 1 January 2019. A nnual Improvements to IFRS Standards 2015–2017 Cycle In December 2017, the IASB issued Annual Improvements to IFRS Standards 2015–2017 Cycle , which resulted in amendments to IFRS 3, Business Combinations , IFRS 11, Joint Arrangements , IAS 12, Income Taxes , and IAS 23, Borrowing Costs . The amendments are mandatorily effective as of 1 January 2019. T he adoption of these amendments will have no material effect on the Group ’ s financial statements on the transition date. Conceptual Framework In March 2018, the I ASB issued a revised version of its Conceptual Framework for Financial Reporting (the Framework ). The Framework sets out the fundamental concepts of financial reporting that guide the IASB in developing IFRS s tandards. The amended Framework seeks to improv e the concepts for reporting assets, liabilities, income and expenses, explains how to decide when asset s and liabilities should be measured using historical cost and when they should be measured at current value, and provides up-to-date tools that will he lp the IASB in setting IFRS s tandards. It underpins existing IFRS s tandards but does not override them. Preparers use the Framework as a point of reference to develop accounting policies in rare instances where a particular business transaction i s not cove red by existing IFRS s tandards. The IASB and the IFRS Interpretations Committee will begin to use the new Framework immediately in developing new, or amending existing, financial reporting standards and interpretations. For UBS, the Framework becomes effec tive in annual periods beginning on 1 January 2020. UBS is currently assessing the effect of the amended Framework on its financial accounting policies. Amendments to IFRS 3, Business Combinations In October 2018, the IASB issued Definition of a Business ( Amendments to IFRS 3) . The amendments clarify the definition of a business, with the objective of assist ing in the determination of whether a transaction should be accounted for as a business combination or an asset acquisition. The amendments apply to tr ansactions for which the ac quisition date is on or after 1 January 2020, with early application permitted. Adoption of these amendments is not expected to have a material effect on the financial statements. |
UBS AG | |
IFRSs And Interpretations To Be Adopted And Other Adjustments [Line Items] | |
IFRSs and interpretations to be adoptedand other adjustments | d ) International Financial Reporting Standards and In terpretations to be adopted in 201 9 and later and other changes IFRS 16, Leases UBS AG will adopt IFRS 16, Leases , on 1 January 2019. This will fundamentally change how UBS AG accounts for operating leases when acting as a lessee, with a r equirement to record a lease obligation and a right-of-use asset on the balance sheet. Upon adoption of IFRS 16, assets and liabilities are expected to increase by approximately USD 3.5 billion with no material effect to the UBS AG ’s equity. Changes in Corporate Center cost allocations and equity attribution to business divisions as of the first quarter of 2019 In order to further align Group and divisional performance, UBS AG will adjust the methodology for the allocation of Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS AG is updating its funds transfer pricing framework to better reflect the sources and usage of funding. All of these changes are effective as of 1 January 2019 and prior-period seg ment information will be restated. Together, these changes will decrease the business divisions’ operating results and thereby increase their adjusted cost / income ratios by approximately 1- 2 percentage points, with an offsetting effect of approximately USD 0.7 billion in Corporate Center’ s operating profit / (loss) before tax. Corporate Center will retain funding costs for deferred tax assets, costs relating to UBS AG’s legal entity transformation program and other costs not attributable to or representativ e of the performance of the business divisions. Alongside the update to allocations and UBS AG’s funds transfer pricing framework, UBS AG is increasing the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in approximately USD 220 billion of assets allocated from Corporate Center to the business divisions in restated 2018 numbers, predominantly from high-quality liquid assets and certain other assets centrally managed on behalf of the business divisions. Upon adoption of IFRS 16, Leases , as of 1 January 2019, UBS AG intends to additionally allocate approximat ely USD 3.5 billion of newly recognized right of use assets to the business divisions. Changes to Corporate Center segment reporting effective first quar ter 2019 As announced in the third quarter 2018 report, UBS AG will no longer separately assess the performance of Non-core and Legacy Portfolio, given its substantially reduced size and resource consumption. In addition, following the aforementioned chang es to UBS’s methodology for allocating funding costs and expenses from Corporate Center – Services and Corporate Center – Group Asset and Liability Management ( Group ALM ) to the business divisions, the operating loss retained in Corporate Center – Services and Corporate Center – Group ALM will be significantly reduced. As a consequence and in compliance with IFRS 8, Operating Segments , beginning with the first quarter 2019 report, UBS AG will provide results for total Corporate Center only and will not separately report Corporate Center – Services, Group ALM and Non-core and Legacy Portfolio . Furthermore, UBS AG will operationally combine Group Treasury with Group ALM and call this combined unit Group Treasury. Commentary on performance of this function will be included in the Corporate Center management discussion and analysis in UBS’s quarterly and annual reporting. Former Group ALM total risk management net income after allocations will continue to be disclosed separately. Prior-period information wil l be restated. IFRIC 23, Uncertainty over Income Tax Treatments In June 2017, the IASB issued IFRIC Interpretation 23, Uncertainty over Income Tax Treatments (IFRIC 23), which addresses how uncertain tax positions should be accounted for under IFRS. IFRIC 23 requires that, where acceptance of the tax treatment by the relevant tax authority is considered probable, it should be assumed as an accounting recognition matter that treatment of the item will ultimately be accepted. Therefore, no tax provision would be required in such cases. However, if acceptance of the tax treatment is not considered probable, the entity is required to reflect that uncertainty using an expected value (i.e., a probability-weighted approach) or the single most likely amount. IFRIC 23 is mandatorily effective for accounting periods beginning on or after 1 January 2019 and any resulting change to the tax provisions should be recognized in retained earnings. UBS AG expect s to recognize a net tax expens e of USD 11 million in retained ea rnings on 1 January 2019 in respect of the adoption of IFRIC 23 , which will be reflected in UBS AG’s first quarter 2019 report. Amendments to IAS 19, Employee Benefits In February 2018, the IASB issued amendments to IAS 19, Employee Benefits , which address the accounting when a plan amendment, curtailment or settlement occurs during the reporting period. The amendments require entities to use the updated actuarial assumption to determine current service cost and net interest for the remainder of the annual report ing period after such an event. The amendments also clarify how the requirements for accounting for a plan amendment, curtailment or settlement affect the asset ceiling requirements. The amendment s are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019 . The adoption will have no effect on UBS AG’s financial state ments on transition at 1 January 2019. Annual Improvements to IFRS Standards 2015–2017 Cycle In December 2017, the IASB issued Annual Improvements to IFRS Standards 2015–2017 Cycle , which resulted in amendments to IFRS 3, Business Combinations , IFRS 11, J oint Arrangements , IAS 12, Income Taxes , and IAS 23, Borrowing Costs . The amendments are mandatorily effective as of 1 January 2019. T he adoption of these amendments will have no material effect on the UBS AG’ s financial statements on the transition date. Conceptual Framework In March 2018, the IASB issued a revised version of its Conceptual Framework for Financial Reporting (the Framework ). The Framework sets out the fundamental concepts of financial reporting that guide the IASB in developing IFRS s tandards. The amended Framework seeks to improve the concepts for reporting assets, liabilities, income and expenses, explains how to decide when asset s and liabilities should be measured using historical cost and when they should be measured at current va lue, and provides up-to-date tools that will help the IASB in setting IFRS s tandards. It underpins existing IFRS s tandards but does not override them. Preparers use the Framework as a point of reference to develop accounting policies in rare instances wher e a particular business transaction i s not covered by existing IFRS s tandards. The IASB and the IFRS Interpretations Committee will begin to use the new Framework immediately in developing new, or amending existing, financial reporting standards and interp retations. For UBS AG , the Framework becomes effective in annual periods beginning on 1 January 2020. UBS AG is currently assessing the effect of the amended Framework on its financial accounting policies. Amendments to IFRS 3, Business Combinations In Oct ober 2018, the IASB issued Definition of a Business (Amendments to IFRS 3) . The amendments clarify the definition of a business, with the objective of assist ing in the determination of whether a transaction should be accounted for as a business combination or an asset acquisition. The amendments apply to transactions for which the ac quisition date is on or after 1 January 2020, with early application permitted. Adoption of these amendments is not expected to have a material effect on the financial statement s. |
Changes in accounting policie_2
Changes in accounting policies, comparability and transition effects from adoption IFRS 9 | 12 Months Ended |
Dec. 31, 2018 | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Transition effects of the initial application of IFRS 9 accounting standard | c) Changes in accounting policies and comparability and transition effects from the adoption of IFRS 9 Financial Instruments 1) Introduction Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments , which replaced IAS 39 , Financial Instruments: Recognition and Measurement , and substantially changed accounting and financial reporting in three key areas: classification and measurement of financial assets, impairment and hedge accounting. In addition, UBS early adopted the Amendment to IFRS 9 , Prepayment Features with Negative Compensation , issued in October 2017, which allows the Group to continue to apply amortized cost accounting to Swiss private mortgages and corporate loans that provide for two-way compensation if a prepayment occurs. The Group has retained hedge accounting under IAS 39 as permitted and early adopted the own credit requirements of IFRS 9 during the first quarter of 2016. As perm itted by the transitional provisions of IFRS 9, UBS elected not to restate comparative figures. Any effect on the carrying amounts of financial assets and liabilities at the date of transition to IFRS 9 was recognized as an adjustment to opening retained e arnings. The detailed effects of the adoption of IFRS 9 on 1 January 2018 are presented in this Note and the updated accounting policies for classification and measurement of financial instruments and impairment of financial assets as applied from 1 Januar y 2018 are presented in Note 1a. 2) Transition effect The adoption of IFRS 9 effective 1 January 2018 has resulted in a reduction to IFRS consolidated equity as of 1 January 2018 of USD 591 million. Thi s effect is comprised of classification and measurement changes of USD 360 million on a pre-tax basis and USD 30 0 million net of tax, as well as effects from the implementation of impairment requirements based on an expected credit loss ( ECL ) methodology o f USD 357 million on a pre-tax basis and USD 29 1 million net of tax. Refer to the 31 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors for more information on the effect of the IFRS 9 transition on UBS’s capital adequacy 3 ) Governance The implementation of IFRS 9 has been a key strategic initiative for UBS implemented under the joint sponsorship of the Group Chief Financial Officer and the Group Chief Risk Officer. The incorporation of forward-looking information into the ECL calculation and the definition and assessment of what constitutes a significant increase in credit risk (SICR) are inherently subjective and involve the use of significant expert judgment. Therefore , UBS has developed a front-to-back governance framework over the ECL calculation process jointly owned by the Group Chief Financial Officer and the Group Chief Risk Officer and has designed controls to meet the requirements of the Sarbanes-Oxley Act. UBS has efficient credit risk management processes in place that continue to be applicable and aim to ensure that the effects of economic developments are appropriately considered, mitigation actions are taken where required and risk appetite is reassessed and adjusted as needed. Refer to the “ Risk management and control ” section of this report for more information 4) Retrospective amendments to UBS Group balance sheet presentation Although the effect of IFRS 9 classification and measurement changes has be en applied prospectively, UBS has made a series of changes to the presentation of its balance sheet to facilitate comparability , with informat ion for periods ending before 1 January 2018 being presented in this revised structure. The primary changes includ e: IAS 39-specific asset categories, such as Financial assets held to maturity and Financial assets available for sale , have been superseded by the new categories Financial assets measured at amortized cost and Financial assets measured at fair value through other comprehensive income . A new line, Financial assets at fair value not held for trading , has been created to accommodate in particular financial assets previously designated at fair value, all of which are mandatorily classified at fair value t hrough profit or loss under IFRS 9. Other assets and Other liabilities have been split into those measured at amortized cost , measured at fair value through profit or loss and o ther non-financial assets and liabilities . Cash collateral on securities borrow ed and Reverse repurchase agreements have been combined into a single line, Receivables from securities financing transactions . Similarly, Cash collateral on securities lent and Repurchase agreements have been combined into a single line, Payables from sec urities financing transactions . Finance lease receivables, previously presented within Loans , are now presented within Other financial assets measured at amortized cost . Precious metal positions previously presented in Trading portfolio assets are now pres ented within the new line Other non-financial assets . Financial liabilities designated at fair value have been split into two lines: Debt issued designated at fair value and Other financial liabilities designated at fair value . The table below illustrates the revised balance sheet presentation of assets and liabilities as of 31 December 2017 in comparison with the presentation in the Annual Report 2017. The presentation of the components of equity has not changed, and therefore, for illustration purposes, total liabilities and equity are presented in a single line in the table. The table does not reflect any of the effects of adopting the cla ssification and measurement requirements of IFRS 9 , which are presented in the “ Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9” table in this Note. Retrospective amendments to UBS Group balance sheet presentation as of 31 December 2017 USD million 31.12.17 31.12.17 Assets References Former presentation Revised presentation Cash and balances at central banks 90,045 90,045 Loans and advances to banks (formerly: Due from banks) 14,094 14,094 Receivables from securities financing transactions (new line) 1 91,951 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 1 12,714 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 1 79,238 Cash collateral receivables on derivative instruments 24,040 24,040 Loans and advances to customers (formerly: Loans) 2 327,833 326,746 Financial assets held to maturity (superseded) 3 9,403 Other financial assets measured at amortized cost (new line) 2, 3, 7 37,815 Total financial assets measured at amortized cost 584,691 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 4 134,087 129,407 of which: assets pledged as collateral that may be sold or repledged by counterparties 36,277 36,277 Derivative financial instruments (formerly: Positive replacement values) 121,285 121,285 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 5 60,457 Financial assets designated at fair value 5 60,457 Total financial assets measured at fair value through profit or loss 311,148 Financial assets available for sale (superseded) 6 8,889 Financial assets measured at fair value through other comprehensive income (new line) 6 8,889 Investments in associates 1,045 1,045 Property, equipment and software 9,057 9,057 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 10,056 10,056 Other non-financial assets (new line) 4, 7 7,830 Other assets (superseded) 7 30,474 Total assets 939,279 939,279 Liabilities Amounts due to banks 7,728 7,728 Payables from securities financing transactions (new line) 8 17,485 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 8 1,835 Repurchase agreements (newly included in Payables from securities financing transactions) 8 15,650 Cash collateral payables on derivative instruments 31,029 31,029 Customer deposits (formerly: Due to customers) 419,577 419,577 Debt issued measured at amortized cost 143,160 143,160 Other financial liabilities measured at amortized cost (new line) 10 37,276 Total financial liabilities measured at amortized cost 656,255 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 31,251 31,251 Derivative financial instruments (formerly: Negative replacement values) 119,137 119,137 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 9 55,604 Debt issued designated at fair value (new line) 9 50,782 Other financial liabilities designated at fair value (new line) 9, 10 16,643 Total financial liabilities measured at fair value through profit or loss 217,813 Provisions 3,214 3,214 Other non-financial liabilities (new line) 10 9,443 Other liabilities (superseded) 10 58,540 Total liabilities 886,725 886,725 Total liabilities and equity 939,279 939,279 Explanatory footnotes to the table “Retrospective amendments to UBS Group balance sheet presentation” Table ref. Description of presentation changes applied retrospectively to the balance sheet as of 31 December 2017 Balance sheet assets 1 Cash collateral on securities borrowed of USD 12,714 million and reverse repurchase agreements of USD 79,238 million as of 31 December 2017 are now presented as a total of USD 91,951 million within a single line, Receivables from securities financing transactions . 2 Finance lease receivables of USD 1,086 million as of 31 December 2017, previously presented within Loans , are now presented within Other financial assets measured at amortized cost . 3 Financial assets held to maturity measured at amortized cost of USD 9,403 million as of 31 December 2017 are now presented within Other financial assets measured at amortized cost . 4 Precious metal positions of USD 4,681 million as of 31 December 2017, previously presented in Trading portfolio assets , are now presented within Other non-financial assets . 5 Financial assets designated at fair value through profit or loss of USD 60,457 million as of 31 December 2017, previously presented in a separate line, are now presented within Financial assets at fair value not held for trading . 6 Debt and equity instruments of USD 8,889 million as of 31 December 2017, previously presented in Financial assets available for sale, are now presented within Financial assets measured at fair value through other comprehensive income . 7 The reporting line Other assets has been split into two new reporting lines, Other financial assets measured at amortized cost and Other non-financial assets . Assets of USD 30,474 million as of 31 December 2017, previously presented within Other assets , are now presented within Other fi nancial assets measured at amortized cost (USD 27,325 million) and Other non-financial assets (USD 3,149 million). Financial assets now presented within Other financial assets measured at amortized cost include brokerage receivables of USD 19,573 million, debt securities of USD 9,403 million, loans to financial advisors of USD 3,199 million and other assets amounting to USD 5,639 million. Refer to Note 17a for more information. Refer to Note 17b for more information on assets now presented within Other non-financial assets. Balance sheet liabilities 8 Cash collateral on securities lent of USD 1,835 million and repurchase agreements of USD 15,650 million as of 31 December 2017 are now presented within a single line, Payables from securities financing transactions . 9 Financial liabilities designated at fair value through profit or loss of USD 55,604 million as of 31 December 2017 are now presented within Debt issued designated at fair value (USD 50,782 million) and Other financial liabilities designate d at fair value (USD 4,822 million). 10 The reporting line Other liabilities has been split into three new reporting lines, Other financial liabilities measured at amortized cost , Other financial liabilities designated at fair value and Other non-financia l liabilities . Liabilities amounting to USD 58,540 million as of 31 December 2017, previously presented within Other liabilities, are now presented within Other financial liabilities measured at amortized cost (USD 37,277 million, thereof USD 30,413 millio n brokerage payables), within Other financial liabilities designated at fair value (amounts due under unit-linked investment contracts of USD 11,821 million) and within Other non-financial liabilities (USD 9,443 million). Refer to Note 22 a for more informa tion on financial liabilities now presented within Other financial liabilities measured at amortized cost. Refer to Note 22 b for more information on financial liabilities now presented within Other financial liabilities designated at fair value . Refer to Note 22 c for more information on liabilities now presented within Other non-financial liabilities . 5) Transition to IFRS 9 as of 1 January 2018 Transition to classification and measurement requirements As set out in the amended accounting policies in Note 1a, IFRS 9 requires all financial assets, except equity instruments and derivatives, to be classified at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss (FVTPL), based on the business model for managing the respective assets and their contractual cash flow characteristics. Changes resulting from the application of IFRS 9 classification and measurement requirements as of 1 January 2018 have been ap plied as follows: Determination of the business model was made based on facts and circumstances as of the 1 January 2018 transition date; De-designations and new designations of financial instruments at FVTPL, pursuant to transition requirements of IFRS 9, have been carried out as of 1 January 2018. These reassessments resulted in: i. the de-designation of certain financial assets designated at FVTPL, as they are managed on a fair value basis, and therefore mandatorily measured at fair value, or are no long er managed on a fair value basis but held to collect the contractual cash flows and therefore measured at amortized cost; and ii. the new designations of financial liabilities at FVTPL (e.g., brokerage payables) in order to achieve measurement consistency with associated financial assets that are mandatorily measured at FVTPL (e.g., brokerage receivables). For UBS, the most significant IFRS 9 classification and measurement changes on transition to IFRS 9 were as follows: financial assets that no longer qua lify for amortized cost accounting under IFRS 9 have been classified at FVTPL because their cash flow characteristics do not satisfy the solely payments of principal and interest criterion (e.g., auction rate securities and certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 are classified at FVTPL because the business model within which they are managed does not have an objective to hold financial assets in order to collect the contractual cash flows or to collect contractual cash flows and sell (e.g., certain Investment Bank lending arrangements); equity instruments classified as available for sale under IAS 39 are classified at FVTPL under IFRS 9; and financial liabilities are newly desig nated under IFRS 9 at FVTPL, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at FVTPL (e.g., brokerage payables). Effect on UBS Group income statement presentation Upon adoption of IF RS 9, the reclassification of auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances from amortized cost to FVTPL has resulted in the interest income from these instruments moving from Interest i ncome (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss. These changes have been applied prospectively from 1 January 2018. Effect on UBS Gr oup statement of cash flows Following the adoption of IFRS 9, changes have been made to the statement of cash flows to reflect the changes arising from financial instruments that have been reclassified on the balance sheet. In particular, cash flows from certain financial assets previously measured as available-for-sale assets at fair value through other comprehensive income have been reclassified from investing activities to operating activities as the assets are measured at fair value through profit or l oss effective 1 January 2018. Transition to expected credit loss requirements As set out in the Group’s amended accounting policies in Note 1a), IFRS 9 introduced a forward-looking ECL approach, which is intended to result in an earlier recognition of cre dit losses compared with the incurred-loss impairment approach for financial instruments under IAS 39 and the loss-provisioning approach for financial guarantees and loan commitments under IAS 37, Provisions, Contingent Liabilities and Contingent Assets . T he majority of ECL calculated as of the transition date relate to the private and commercial mortgage portfolio and corporate lending in Switzerland within Personal & Corporate Banking. Models at transition For the purpose of implementing ECL under IFRS 9, UBS has leveraged existing Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Existing models have been adapted and 29 new models have been developed for the ECL calculation that consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that the probabilities of default (PD) and the loss given default ( LGD) used in the ECL calculation are point-in-time-based as opposed to the corresponding Basel III through-the-cycle (TTC) parameters. Management adjustments have also been made. UBS has leveraged its existing model risk framework, including the key model validation control executed by Model Risk Management & Control. New and revised models have been approved by UBS’s Group Model Governance Board. The assignment of internal counterparty rating grades and the determination of default probabilities for the pu rposes of Basel III remain unchanged. Refer to “Credit risk models” in the “ Risk management and control ” section of this report for more information Scenarios and scenario weights at transition As outlined in Note 1a, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. ECL calculated on transition have been determined for each of the scenarios and subsequently weighted based on the probabilities in the table “Economic scenarios and weights applied.” Economic scenarios and weights applied ECL scenario Assigned weights in % (1.1.18 ) Upside 20.0 Baseline 42.5 Mild downside 30.0 Severe downside 7.5 Refer to Note 23 b for information on weights applied to economic scenarios as at 31 December 2018 UBS has established IFRS 9 ECL Scenario and Operating Committees to propose and approve the selection of the scenarios and weights to be applied and to monitor whether appropriate governance exists. Macroeconomic and other factors at transition Assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of the economic scenarios to determine ECL at the date of transition can be summarized as f ollows. For the baseline scenario, which is modeled along our business plan assumptions of a continuation of overall important global growth, Swiss GDP growth remains between 1% and 2% annually over the three years of the scenario. Moderate growth results in a very mild increase of unemployment, which stabilizes at around 3.5%. Asset price growth is also moderate, with the Sw iss equity price index rising approximately 8% annually, while house prices grow by less than 1% annually. Policy rates, short-term in terest rates and government bond yields increase very gradually over the three years of the scenario by approximately 50 basis points. GDP growth in the US remains relatively stable, and faster than in Switzerland. Monetary policy tightens at a similar pac e to Switzerland and, combined with a modest decline in the unemployment rate, helps to keep inflation in check. US equity prices slightly underperform their Swiss counterparts, while house prices outperform relatively stagnant Swiss house price growth. In the rest of the world, growth re mains buoyant, with moderating growth in both Europe and China contrasting with accelerating growth in other emerging markets. In the upside scenario, which assumes GDP growth rising above trend in most countries with only a moderate rise in inflation and ongoing accommodative monetary policies, GDP growth in Switzerland peaks at around 5% annually. Strong growth leads to a decline in unemployment to very low levels (below 1%) by 2020. Asset prices grow at a robust pace, wi th equity prices increasing approximately 10% annually and house prices (single-family homes) rising approximately 4% annually. Policy and short-term interest rates remain low over the entire scenario, while government bond yields experience a sustained in crease. In the US and the rest of the world, the scenario shows broadly similar features, with growth accelerating in Year 1 before steadily returning toward trend by Year 3. Specifically in the US, GDP growth accelerates at a slightly faster pace than in Switzerland, although the US experiences a slightly less substantial improvement in the unemployment rate by Year 3. The degree of policy tightening is marginally greater over the scenario horizon and, as in Switzerland, long-term government bond yields ri se more significantly than short-term rates, and to a greater degr ee. The mild downside scenario is based on a monetary policy tightening assumption, implemented to deflate a potential asset price bubble, causing Swiss GDP to decline by almost 1% in the first year of the scenario. The unemployment rate rises to roughly 5%. Equity prices fall by more than 20% over three year s, while house prices decline by 15% over the same period. The fall of the nominal asking rent index, which is cushioned by higher interest rates, is more moderate than the decline in house prices. Short-term interest rates rise significantly as a result o f monetary tightening, as well as government bond yields. In this scenario, inflation in the US accelerates rapidly, leading to a sharp rise in short-term interest rates, with a similar development in Switzerland. GDP growth and house prices decline at a s imilar rate in the US and Switzerland. In the rest of the world, growth is also weighed down, particularly in more vulnerable emerging markets such as Russia, Turkey and Brazil, as interest rates and credit spreads rise sharply. The severe downside scenari o is modeled to mimic a severe recession caused by an event affecting Switzerland’s competitiveness in key export markets, with Swiss GDP shrinking almost 7% in the first year of the scenario. The severe recession results in a substantial increase in unemp loyment, which peaks at around 9%. Asset prices plummet, with the Swiss equity index falling more than 55% over three years, and house prices declining 27% over the same period. Policy and short-term interest rates remain low over the entire scenario horiz on. US GDP and unemployment deteriorate by a lesser degree than in Switzerland, and while house and equity prices decline sharply, the effects are also less severe than in Switzerland. With more scope to cut rates than the Swiss National Bank, short-term r ates fall in the US. In the rest of the world, growth also slows sharply, particularly in the eurozone and neighboring emerging markets, such as Turkey and Russia. Refer to Note 23 for more information ECL measurement period at transition As set out in Note 1a, for the majority of ECL-relevant instruments, the contractual maturity is used to calculate the measurement period, with this capped at 12 months when stage 1 ECL are required. In addition, for credit card limits and Swiss callable master c redit facilities, judgment is required as UBS must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit cards and 12 months for master credit facilities. UBS’s ECL-relevant financial instruments have relatively short average maturities, which significantly contribute to the level of ECL on transition. SICR determination at transition The identification of instruments for which a significant increase in credit risk (SICR) has been determined since ini tial recognition, and the corresponding allocation to stage 2 at transition, generally follow the principles described in the relevant accounting policy provided in Note 1a. Furthermore, the following principles have been applied. General: In estimating th e retrospective lifetime PDs, the economic conditions over the relevant prior periods and the general significant uncertainty inherent in such approximation have been considered to determine the allocation of instruments to stage 2 at transition. Real est ate financing: The Basel III rating methodology applied to the majority of income-producing real estate financings within Personal & Corporate Banking, which is leveraged for IFRS 9 ECL calculations, was significantly changed in 2017. As a consequence, the re is no comparable rating on origination to determine whether an SICR has arisen over time. As permitted by the IFRS 9 transition requirements, a lifetime ECL allowance has therefore been recognized for certain real estate financing positions and will con tinue to be recognized until the positions are derecognized. Other portfolios, including private mortgages and commercial SME clients: The Basel III rating models for other key portfolios in Personal & Corporate Banking, in particular for private client mortgages and commercial clients in the small and medium-sized enterprise segment, have recently been subject to a major redesign. While the methodology remained essentially the same and the calibration to the portfolios’ average TTC PD value unchanged, the effect on the stage allocation is significant. This is due to the fact that the introduction of new models has led to a broader and different distribution of borrowers across the rating spectrum; while there was no material effect on those counterparties with an uplift in their rating, some of those that had a downward shift in their rating triggered the SICR threshold and a reclassification into stage 2 at transition. Overview of transition effects The table on the following pages provides a detailed overview of the IFRS 9 transition effects as of 1 January 2018. This includes: reclassification of IAS 39 carrying amounts to the new categories applicable under IFRS 9; remeasurement of carrying amounts du e to reclassification (any remeasurement to fair value and / or reversal of IAS 39 allowances or IAS 37 provisions for assets moving from amortized cost to fair value); and recognition of IFRS 9 ECL for in-scope assets, off-balance sheet positions and oth er credit lines. The following table also includes the effects recognized for deferred tax assets and therefore the total effect provided in Retained earnings in the table is net of tax effects. Explanatory footnotes set out after the table provide additi onal details on these changes. Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Assets Cash and balances at central banks Loans and receivables 90,045 0 90,045 Loans and advances to banks Loans and receivables 14,094 (17) (3) 12 14,074 to: Brokerage receivables Loans and receivables (17) 1 Receivables from securities financing transactions Loans and receivables 91,951 (5,085) (2) 12 86,864 to: Financial assets at fair value not held for trading Loans and receivables (5,085) 2 Cash collateral receivables on derivative instruments Loans and receivables 24,040 0 24,040 Loans and advances to customers Loans and receivables 326,746 (8,024) 0 (241) 12 318,480 to: Financial assets at fair value not held for trading Loans and receivables (2,747) 3 to: Brokerage receivables Loans and receivables (4,812) 1 to: Financial assets at fair value held for trading Loans and receivables (480) 4 from: Financial assets at fair value not held for trading FVTPL (designated) 9 5 0 from: Financial assets at fair value held for trading FVTPL (held for trading) 6 5 Other financial assets measured at amortized cost Loans and receivables, held to maturity 37,815 (19,004) 0 (36) 12 18,775 to: Brokerage receivables Loans and receivables (19,573) 1 from: Financial assets measured at fair value through other comprehensive income Available for sale 569 6 0 Total financial assets measured at amortized cost 584,691 (32,131) 0 (282) 552,277 Financial assets at fair value held for trading FVTPL (held for trading) 129,407 (11,135) (16) 118,256 to: Loans and advances to customers FVTPL (held for trading) (6) 5 to: Financial assets at fair value not held for trading FVTPL (held for trading) (11,609) 7 from: Loans and advances to customers Loans and receivables 480 4 (16) 4 of which: assets pledged as collateral that may be sold or repledged by counterparties FVTPL (held for trading) 36,277 36,277 Derivative financial instruments FVTPL (derivatives) 121,285 121,285 Brokerage receivables Loans and receivables 24,403 24,403 from: Loans and advances to banks Loans and receivables 17 1 from: Loans and advances to customers Loans and receivables 4,812 1 from: Other financial assets measured at amortized cost Loans and receivables 19,573 1 Financial assets at fair value not held for trading FVTPL (designated) 60,457 9 20,822 (295) 80,985 to: Loans and advances to customers FVTPL (designated) (9) 5 from: Financial assets at fair value held for trading FVTPL (held for trading) 11,609 7 from: Receivables from securities financing transactions Loans and receivables 5,085 2 (1) from: Loans and advances to customers Loans and receivables 2,747 3 (293) 3 from: Financial assets measured at fair value through other comprehensive income Available for sale 1,391 8 Total financial assets measured at fair value through profit or loss 311,148 34,090 (310) 344,928 Financial assets measured at fair value through other comprehensive income Available for sale 8,889 (1,960) 6,930 10 to: Other financial assets measured at amortized cost Available for sale (569) 6 to: Financial assets at fair value not held for trading Available for sale (1,391) 8 Investments in associates 1,045 1,045 Property, equipment and software 9,057 9,057 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 10,056 59 11 66 11 10,182 Other non-financial assets 7,830 7,830 Total assets 939,279 (251) (216) 938,812 Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (continued) 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Liabilities Amounts due to banks Amortized cost 7,728 7,728 Payables from securities financing transactions Amortized cost 17,485 (5,212) 12,273 to: Other financial liabilities designated at fair value Amortized cost (5,212) 13 Cash collateral payables on derivative instruments Amortized cost 31,029 31,029 Customer deposits Amortized cost 419,577 (5,404) 414,172 to: Brokerage payables designated at fair value Amortized cost (5,404) 14 Debt issued measured at amortized cost Amortized cost 143,160 143,160 Other financial liabilities measured at amortized cost Amortized cost 37,276 (30,413) (4) 6,859 to: Brokerage payables designated at fair value Amortized cost (30,413) 14 Derecognition: deferred fees on other loan commitments Amortized cost (4) 4 Total financial liabilities measur |
UBS AG | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Transition effects of the initial application of IFRS 9 accounting standard | Note 1 Summary of significant accounting policies (continued) c) Changes in accounting policies and comparability and transition effects from the adoption of IFRS 9 Financial Instruments 1) Introduction Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments , which replaced IAS 39 , Financial Instruments: Recognition and Measurement , and substantially changed accounting and financial reporting in three key areas: classification and measurement of financial assets, impairment and hedge accounting. In addition, UBS AG early adopted the Amendment to IFRS 9 , Prepayment Features with Negative Compensation , issued in October 2017, which allows UBS AG to continue to apply amortized cost accounting to Swiss private mortgages and corporate loans that provide for two-way compensation if a p repayment occurs. UBS AG has retained hedge accounting under IAS 39 as permitted and early adopted the own credit requirements of IFRS 9 during the first quarter of 2016. As permitted by the transitional provisions of IFRS 9, UBS AG elected not to restate comparative figures. Any effect on the carrying amounts of financial assets and liabilities at the date of transition to IFRS 9 was recognized as an adjustment to opening retained earnings. The detailed effects of the adoption of IFRS 9 on 1 January 2018 a re presented in this Note and the updated accounting policies for classification and measurement of financial instruments and impairment of financial assets as applied from 1 January 2018 are presented in Note 1a. 2) Transition effect The adoption of IFRS 9 effective 1 January 2018 has resulted in a reduction to IFRS consolidated equity as of 1 January 2018 of USD 59 1 million. This effect is comprised of classification and measurement changes of USD 360 million on a pre-tax basis and USD 30 0 million net of tax, as well as effects from the implementation of impairment requirements based on an expected credit loss ( ECL ) methodology of USD 357 million on a pre-tax basis and USD 29 1 million net of tax. Refer to the 31 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors for more information on the effect of the IFRS 9 transition on UBS’s capital adequacy 3 ) Governance The implementation of IFRS 9 has been a key strategic initiative for U BS AG implemented under the joint sponsorship of the Group Chief Financial Officer and the Group Chief Risk Officer. The incorporation of forward-looking information into the ECL calculation and the definition and assessment of what constitutes a significa nt increase in credit risk (SICR) are inherently subjective and involve the use of significant expert judgment. Therefore, UBS AG has developed a front-to-back governance framework over the ECL calculation process jointly owned by the Group Chief Financia l Officer and the Group Chief Risk Officer and has designed controls to meet the requirements of the Sarbanes-Oxley Act. UBS AG has efficient credit risk management processes in place that continue to be applicable and aim to ensure that the effects of eco nomic developments are appropriately considered, mitigation actions are taken where required and risk appetite is reassessed and adjusted as needed. Refer to the “ Risk management and control ” section of this report for more information 4) Retrospective amendments to UBS AG’s balance sheet presentation Although the effect of IFRS 9 classification and measurement changes has been applied prospectively, UBS AG has made a series of changes to the presentation of its balance sheet to facilitate comparability , with information for periods ending before 1 January 2018 being presented in this revised structure. The primary changes include: IAS 39-specific asset categories, such as Financial assets held to maturity and Financial assets available for sale , have been superseded by the new categories Financial assets measured at amortized cost and Financial assets measured at fair value through other comprehensive income . A new line, Financial assets at fair value not held for trading , has been created t o accommodate in particular financial assets previously designated at fair value, all of which are mandatorily classified at fair value through profit or loss under IFRS 9. Other assets and Other liabilities have been split into those measured at amortized cost , measured at fair value through profit or loss and o ther non-financial assets and liabilities . Cash collateral on securities borrowed and Reverse repurchase agreements have been combined into a single line, Receivables from securities financing trans actions . Similarly, Cash collateral on securities lent and Repurchase agreements have been combined into a single line, Payables from securities financing transactions . Finance lease receivables, previously presented within Loans , are now presented within Other financial assets measured at amortized cost . Precious metal positions previously presented in Trading portfolio assets are now presented within the new line Other non-financial assets . Financial liabilities designated at fair value have been split in to two lines: Debt issued designated at fair value and Other financial liabilities designated at fair value . Obligations of UBS AG from funding received from UBS Group AG or its subsidiaries, previously included within Due to customers , are now presented s eparately within Funding from UBS Group AG and its subsidiaries. The table below illustrates the revised balance sheet presentation of assets and liabilities as of 31 December 2017 in comparison with the presentation in the Annual Report 2017. The presentation of the components of equity has not changed, and therefore, for illustration purposes, total liabili ties and equity are presented in a single line in the table. The table does not reflect any of the effects of adopting the classification and measurement requirements of IFRS 9 , which are presented in the “ Reclassification and remeasurement of carrying amo unts and recognition of ECL upon adoption of IFRS 9” table in this Note. Retrospective amendments to UBS AG’s balance sheet presentation as of 31 December 2017 USD million 31.12.17 31.12.17 Assets References Former presentation Revised presentation Cash and balances at central banks 90,045 90,045 Loans and advances to banks (formerly: Due from banks) 14,047 14,047 Receivables from securities financing transactions (new line) 1 91,951 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 1 12,714 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 1 79,238 Cash collateral receivables on derivative instruments 24,040 24,040 Loans and advances to customers (formerly: Loans) 2 330,038 328,952 Financial assets held to maturity (superseded) 3 9,403 Other financial assets measured at amortized cost (new line) 2,3,7 37,890 Total financial assets measured at amortized cost 586,925 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 4 134,190 129,509 of which: assets pledged as collateral that may be sold or repledged by counterparties 36,277 36,277 Derivative financial instruments (formerly: Positive replacement values) 121,286 121,286 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 5 60,070 Financial assets designated at fair value 5 60,070 Total financial assets measured at fair value through profit or loss 310,865 Financial assets available for sale (superseded) 6 8,889 Financial assets measured at fair value through other comprehensive income (new line) 6 8,889 Investments in associates 1,045 1,045 Property, equipment and software 8,191 8,191 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 9,993 9,993 Other non-financial assets (new line) 4,7 7,548 Other assets (superseded) 7 30,268 Total assets 940,020 940,020 Liabilities Amounts due to banks 7,728 7,728 Payables from securities financing transactions (new line) 8 17,485 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 8 1,835 Repurchase agreements (newly included in Payables from securities financing transactions) 8 15,650 Cash collateral payables on derivative instruments 31,029 31,029 Customer deposits (formerly: Due to customers) 9 458,705 423,058 Funding from UBS Group AG and its subsidiaries (new line, formerly included within Due to customers) 9 35,648 Debt issued measured at amortized cost 107,458 107,458 Other financial liabilities measured at amortized cost (new line) 11 38,092 Total financial liabilities measured at amortized cost 660,498 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 31,251 31,251 Derivative financial instruments (formerly: Negative replacement values) 119,138 119,138 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 10 55,604 Debt issued designated at fair value (new line) 10 50,782 Other financial liabilities designated at fair value (new line) 10,11 16,643 Total financial liabilities measured at fair value through profit or loss 217,814 Provisions 3,164 3,164 Other non-financial liabilities (new line) 11 6,499 Other liabilities (superseded) 11 56,412 Total liabilities 887,974 887,974 Total liabilities and equity 940,020 940,020 Explanatory footnotes to the table “Retrospective amendments to UBS AG’s balance sheet presentation” Balance sheet assets 1 Cash collateral on securities borrowed of USD 12,714 million and reverse repurchase agreements of USD 79,238 million as of 31 December 2017 are now presented as a total of USD 91,951 million within a single line, Receivables from securities financing trans actions . 2 Finance lease receivables of USD 1,086 million as of 31 December 2017, previously presented within Loans , are now presented within Other financial assets measured at amortized cost . 3 Financial assets held to maturity measured at amortized cost of USD 9,403 million as of 31 December 2017 are now presented within Other financial assets measured at amortized cost . 4 Precious metal positions of USD 4,681 million as of 31 December 2017, previously presented in Trading por tfolio assets , are now presented within Other non-financial assets . 5 Financial assets designated at fair value through profit or loss of USD 60,070 million as of 31 December 2017, previously presented in a separate line, are now presented within Financia l assets at fair value not held for trading . 6 Debt and equity instruments of USD 8,889 million as of 31 December 2017, previously presented in Financial assets available for sale, are now presented within Financial assets measured at fair value through other comprehensive income . 7 The reporting line Other assets has been split into two new reporting lines, Other financial assets measured at amortized cost and Other non-financial assets . Assets of USD 30,268 million as of 31 December 2017, previously presented within Other assets , are now presented within Other financial assets measured at amortized cost (USD 27,401 million) and Other non-financial assets (USD 2,867 million). Financial assets now presented w ithin Other financial assets measured at amortized cost include brokerage receivables of USD 19,573 million, debt securities of USD 9,403 million, loans to financial advisors of USD 3,199 million and oth er assets amounting to USD 5,715 million. Refer to No te 17a for more information. Refer to Note 17b for more information on assets now presented within Other non-financial assets. Balance sheet liabilities 8 Cash collateral on securities lent of USD 1,835 million and repurchase agreements of USD 15,650 million as of 31 December 2017 are now presented within a single line, Payables from securities financing transactions . 9 Obligations of UBS AG from funding re ceived from UBS Group AG or its subsidiaries of USD 35,648 million as of 31 December 2017, which are not within the UBS AG scope of consolidation and were previously included within Due to customers , are now presented separately within Funding from UBS Gro up AG and its subsidiaries . 10 Financial liabilities designated at fair value through profit or loss of USD 55,604 million as of 31 December 2017 are now presented within Debt issued designated at fair value (USD 50,782 million) and Other financial liabilities designated at fair value (USD 4,822 million). 11 The reporting line Other liabilities has been split into three new reporting lines, Other financial liabilities measured at amortized cost , Other financial liabilities designated at fair value and Other non-financial liabilities . Liabilities amounting to USD 56,412 million as of 31 December 2017, previously presented within Other liabilities, are now presented within Other financial liabilities measured at amortized cost (USD 38,093 million, th ereof USD 30,413 million brokerage payables), within Other financial liabilities designated at fair value (amounts due under unit-linked investment contracts of USD 11,821 million) and within Other non-financial liabilities (USD 6,499 million). Refer to No te 22 a for more information on financial liabilities now presented within Other financial liabilities measured at amortized cost. Refer to Note 22 b for more information on financial liabilities now presented within Other financial liabilities designated at fair value . Refer to Note 22 c for more information on liabilities now presented within Other non-financial liabilities . 5) Transition to IFRS 9 as of 1 January 2018 Transition to classification and measurement requirements As set out in the amended accounting policies in Note 1a, IFRS 9 requires all financial assets, except equity instruments and derivatives, to be classified at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss (FVTPL), based on the business model for managing the respective assets and their contractual cash flow characteristics. Changes resulting from the application of IFRS 9 classification and measurement requirements as of 1 January 2018 have been ap plied as follows: Determination of the business model was made based on facts and circumstances as of the 1 January 2018 transition date. De-designations and new designations of financial instruments at FVTPL, pursuant to transition requirements of IFRS 9, have been carried out as of 1 January 2018. These reassessments resulted in: i. the de-designation of certain financial assets designated at FVTPL, as they are managed on a fair value basis, and therefore mandatorily measured at fair value, or are no long er managed on a fair value basis but held to collect the contractual cash flows and therefore measured at amortized cost; and ii. the new designation of financial liabilities at FVTPL (e.g., brokerage payables) in order to achieve measurement consistency w ith associated financial assets that are mandatorily measured at FVTPL (e.g., brokerage receivables). For UBS AG, the most significant IFRS 9 classification and measurement changes on transition to IFRS 9 were as follows: financial assets that no longer qualify for amortized cost accounting under IFRS 9 have been classified at FVTPL because their cash flow characteristics do not satisfy the solely payments of principal and interest criterion (e.g., auction rate securities a nd certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 are classified at FVTPL because the business model within which they are managed does not have an objective to hold financial assets i n order to collect the contractual cash flows or to collect contractual cash flows and sell (e.g., certain Investment Bank lending arrangements); equity instruments classified as available for sale under IAS 39 are classified at FVTPL under IFRS 9; and fi nancial liabilities are newly designated under IFRS 9 at FVTPL, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at FVTPL (e.g., brokerage payables). Effect on UBS AG income statement presentation Upon adoption of IFRS 9, the reclassification of auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances from amortized cost to FVTPL has resulted in the interest income from these in struments moving from Interest income (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss. These changes have been applied prospectively from 1 January 2018. Effect on UBS AG’s statement of cash flows Following the adoption of IFRS 9, changes have been made to the statement of cash flows to reflect the changes arising from financial instruments that have been reclassified on the balance sheet. I n particular, cash flows from certain financial assets previously measured as available-for-sale assets at fair value through other comprehensive income have been reclassified from investing activities to operating activities as the assets are measured at fair value through profit or loss effective 1 January 2018. Transition to expected credit loss requirements As set out in the UBS AG’s amended accounting policies in Note 1a, IFRS 9 introduced a forward-looking ECL approach, which is intended to result in an earlier recognition of credit losses compared with the incurred-loss impairment approach for financial instruments under IAS 39 and the loss-provisioning approach for financial guarantees and loan commitments under IAS 37, Provisions, Contingent Liabil ities and Contingent Assets . The majority of ECL calculated as of the transition date relate to the private and commercial mortgage portfolio and corporate lending in Switzerland within Personal & Corporate Banking. Models at transition For the purpose of implementing ECL under IFRS 9, UBS AG has leveraged existing Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Existing models have been adapted and 29 new models have been developed for the ECL calculation that consi der the complexity, structure and risk profile of relevant portfolios and take account of the fact that the probabilities of default (PD) and the loss given default (LGD) used in the ECL calculation are point-in-time-based as opposed to the corresponding B asel III through-the-cycle (TTC) parameters. Management adjustments have also been made. UBS AG has leveraged its existing model risk framework, including the key model validation control executed by Model Risk Management & Control. New and revised models have been approved by UBS’s Group Model Governance Board. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III remain unchanged. Refer to “Credit risk models” in the “ Risk management and control ” section of this report for more information Scenarios and scenario weights at transition As outlined in Note 1a, UBS AG uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a sever e downside scenario. ECL calculated on transition have been determined for each of the scenarios and subsequently weighted based on the probabilities in the table “Economic scenarios and weights applied.” Economic scenarios and weights applied ECL scenar io Assigned weights in % (1.1.18 ) Upside 20.0 Baseline 42.5 Mild downside 30.0 Severe downside 7.5 Refer to Note 23b for information on weights applied to economic scenarios as at 31 December 2018 UBS AG has established IFRS 9 ECL Scenario and Operating Committees to propose and approve the selection of the scenarios and weights to be applied and to monitor whether appropriate governance exists. Macroeconomic and other factors at transition Assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of the economic scenarios to determine ECL at the date of transition can be summarized as follows. For the baseline scenario, which is modeled along our business plan assumptions of a continuation of overall important global growth, Swiss GDP growth remains between 1% and 2% annually over the three years of the scenario. Moderate growth results in a very mild increase of unemployment, which stabilizes at around 3.5%. Asset price g rowth is also moderate, with the Sw iss equity price index rising approximately 8% annually, while house prices grow by less than 1% annually. Policy rates, short-term interest rates and government bond yields increase very gradually over the three years of the scenario by approximately 50 basis points. GDP growth in the US remains relatively stable, and faster than in Switzerland. Monetary policy tightens at a similar pace to Switzerland and, combined with a modest decline in the unemployment rate, helps to keep inflation in check. US equity prices slightly underperform their Swiss counterparts, while house prices outperform relatively stagnant Swiss house price growth. In the rest of the world, growth re mains buoyant, with moderating growth in both Europe a nd China contrasting with accelerating growth in other emerging markets. In the upside scenario, which assumes GDP growth rising above trend in most countries with only a moderate rise in inflation and ongoing accommodative monetary policies, GDP growth i n Switzerland peaks at around 5% annually. Strong growth leads to a decline in unemployment to very low levels (below 1%) by 2020. Asset prices grow at a robust pace, with equity prices increasing approximately 10% annually and house prices (single-family homes) rising approximately 4% annually. Policy and short-term interest rates remain low over the entire scenario, while government bond yields experience a sustained increase. In the US and the rest of the world, the scenario shows broadly similar feature s, with growth accelerating in Year 1 before steadily returning toward trend by Year 3. Specifically in the US, GDP growth accelerates at a slightly faster pace than in Switzerland, although the US experiences a slightly less substantial improvement in the unemployment rate by Year 3. The degree of policy tightening is marginally greater over the scenario horizon and, as in Switzerland, long-term government bond yields rise more significantly than short-term rates, and to a greater degr ee. The mild downside scenario is based on a monetary policy tightening assumption, implemented to deflate a poten tial asset price bubble, causing Swiss GDP to decline by almost 1% in the first year of the scenario. The unemployment rate rises to roughly 5%. Equity prices fall by more than 20% over three years, while house prices decline by 15% over the same period. T he fall of the nominal asking rent index, which is cushioned by higher interest rates, is more moderate than the decline in house prices. Short-term interest rates rise significantly as a result of monetary tightening, as well as government bond yields. In this scenario, inflation in the US accelerates rapidly, leading to a sharp rise in short-term interest rates, with a similar development in Switzerland. GDP growth and house prices decline at a similar rate in the US and Switzerland. In the rest of the wo rld, growth is also weighed down, particularly in more vulnerable emerging markets such as Russia, Turkey and Brazil, as interest rates and credit spreads rise sharply. The severe downside scenario is modeled to mimic a severe recession caused by an event affecting Switzerland’s competitiveness in key export markets, with Swiss GDP shrinking almost 7% in the first year of the scenario. The severe recession results in a substantial increase in unemployment, which peaks at around 9%. Asset prices plummet, wit h the Swiss equity index falling more than 55% over three years, and house prices declining 27% over the same period. Policy and short-term interest rates remain low over the entire scenario horizon. US GDP and unemployment deteriorate by a lesser degree t han in Switzerland, and while house and equity prices decline sharply, the effects are also less severe than in Switzerland. With more scope to cut rates than the Swiss National Bank, short-term rates fall in the US. In the rest of the world, growth also s lows sharply, particularly in the eurozone and neighboring emerging markets, such as Turkey and Russi a. Refer to Note 23 for more information ECL measurement period at transition As set out in Note 1a, for the majority of ECL-relevant instruments, the contractual maturity is used to calculate the measurement period, with this capped at 12 months when stage 1 ECL are required. In addition, for credit card limits and Swiss callable master credit facilitie s, judgment is required as UBS AG must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit cards and 12 months for master credit facilities. UBS AG’s ECL-relevant financial instruments have relative ly short average maturities, which significantly contribute to the level of ECL on transition. SICR determination at transition The identification of instruments for which a significant increase in credit risk (SICR) has been determined since initial reco gnition, and the corresponding allocation to stage 2 at transition, generally follow the principles described in the relevant accounting policy provided in Note 1a. Furthermore, the following principles have been applied. General: In estimating the retrosp ective lifetime PDs, the economic conditions over the relevant prior periods and the general significant uncertainty inherent in such approximation have been considered to determine the allocation of instruments to stage 2 at transition. Real estate finan cing: The Basel III rating methodology applied to the majority of income-producing real estate financings within Personal & Corporate Banking, which is leveraged for IFRS 9 ECL calculations, was significantly changed in 2017. As a consequence, there is no comparable rating on origination to determine whether an SICR has arisen over time. As permitted by the IFRS 9 transition requirements, a lifetime ECL allowance has therefore been recognized for certain real estate financing positions and will continue to be recognized until the positions are derecognized. Other portfolios, including private mortgages and commercial SME clients: The Basel III rating models for other key portfolios in Personal & Corporate Banking, in particular for private client mortgages a nd commercial clients in the small and medium-sized enterprise segment, have recently been subject to a major redesign. While the methodology remained essentially the same and the calibration to the portfolios’ average TTC PD value unchanged, the effect on the stage allocation is significant. This is due to the fact that the introduction of new models has led to a broader and different distribution of borrowers across the rating spectrum; while there was no material effect on those counterparties with an up lift in their rating, some of those that had a downward shift in their rating triggered the SICR threshold and a reclassification into stage 2 at transition. Overview of transition effects The table on the following pages provides a detailed overview of th e IFRS 9 transition effects as of 1 January 2018. This includes: reclassification of IAS 39 carrying amounts to the new categories applicable under IFRS 9; remeasurement of carrying amounts due to reclassification (any remeasurement to fair value and / or reversal of IAS 39 allowances or IAS 37 provisions for assets moving from amortized cost to fair value); and recognition of IFRS 9 ECL for in-scope assets, off-balance sheet positions and other credit lines. The following table also includes the effects recognized for deferred tax assets and therefore the total effect provided in Retained earnings in the table is net of tax effects. Explanatory footnotes set out after the table provide additional details on these changes. Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Assets Cash and balances at central banks Loans and receivables 90,045 0 90,045 Loans and advances to banks Loans and receivables 14,047 (17) (3) 12 14,027 to: Brokerage receivables Loans and receivables (17) 1 Receivables from securities financing transactions Loans and receivables 91,951 (5,085) (2) 12 86,864 to: Financial assets at fair value not held for trading Loans and receivables (5,085) 2 Cash collateral receivables on derivative instruments Loans and receivables 24,040 0 24,040 Loans and advances to customers Loans and receivables 328,952 (8,024) 0 (241) 12 320,687 to: Financial assets at fair value not held for trading Loans and receivables (2,747) 3 to: Brokerage receivables Loans and receivables (4,812) 1 to: Financial assets at fair value held for trading Loans and receivables (480) 4 from: Financial assets at fair value not held for trading FVTPL (designated) 9 5 0 from: Financial assets at fair value held for trading FVTPL (held for trading) 6 5 Other financial assets measured at amortized cost Loans and receivables, held to maturity 37,890 (19,004) 0 (36) 12 18,850 to: Brokerage receivables Loans and receivables (19,573) 1 from: Financial assets measured at fair value through other comprehensive income Available for sale 569 6 0 Total financial assets measured at amortized cost 586,925 (32,131) 0 (282) 554,512 Financial assets at fair value held for trading FVTPL (held for trading) 129,509 (11,135) (16) 118,359 to: Loans and advances to customers FVTPL (held for trading) (6) 5 to: Financial assets at fair value not held for trading FVTPL (held for trading) (11,609) 7 from: Loans and advances to customers Loans and receivables 480 4 (16) 4 of which: assets pledged as collateral that may be sold or repledged by counterparties FVTPL (held for trading) 36,277 36,277 Derivative financial instruments FVTPL (derivatives) 121,286 121,286 Brokerage receivables Loans and receivables 24,403 24,403 from: Loans and advances to banks Loans and receivables 17 1 from: Loans and advances to customers Loans and receivables 4,812 1 from: Other financial assets measured at amortized cost Loans and receivables 19,573 1 Financial assets at fair value not held for trading FVTPL (designated) 60,070 9 20,822 (295) 80,598 to: Loans and advances to customers FVTPL (designated) (9) 5 from: Financial assets at fair value held for trading FVTPL (held for trading) 11,609 7 from: Receivables from securities financing transactions Loans and receivables 5,085 2 (1) from: Loans and advances to customers Loans and receivables 2,747 3 (293) 3 from: Financial assets measured at fair value through other comprehensive income Available for sale 1,391 8 Total financial assets measured at fair value through profit or loss 310,865 34,090 (310) 344,646 Financial assets measured at fair value through other comprehensive income Available for sale 8,889 (1,960) 6,930 10 to: Other financial assets measured at amortized cost Available for sale (569) 6 to: Financial assets at fair value not held for trading Available for sale (1,391) 8 Investments in associates 1,045 1,045 Property, equipment and software 8,191 8,191 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 9,993 59 11 66 11 10,118 Other non-financial assets 7,548 7,548 Total assets 940,020 (251) (216) 939,554 Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (continued) 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Liabilities Amounts due to banks Amortized cost 7,728 7,728 Payables from securities financing transactions Amortized cost 17,485 (5,212) 12,272 to: Other financial li |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 a Segment reporting The operational structure of the Group as of 31 December 201 8 was comprised of Corporate Center and f our business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. Refer to “Segment reporting” in Note 1 a for more information Global Wealth Management In the firs t quarter of 2018, Wealth Management and Wealth Management Americas were combined into a single unit. Global Wealth Management provides investment advice and solutions to private clients, in particular in the ultra high net worth and high net worth segment s. Clients benefit from Global Wealth Management’s comprehensive set of capabilities, including wealth planning, investing, lending, asset protection, philanthropy, corporate and banking services as well as family office services in collaboration with the Investment Bank and Asset Management. Global Wealth Management has a global footprint, with the US representing its largest market. Clients are served through local offices and dedicated advisors. The ultra high net worth business is managed globally acros s the regions. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial products and services to private, corporate and institutional clients and operates in Switzerland in the private and corporate loan market. Personal & Corporate Banking is central to UBS’s universal bank model in Switzerland and it works with the wealth management, investment bank and asset management businesses to help clients receive the best products and solutions for their specific financial needs. While Personal & Corporate Banking operates primarily in its home market of Switzerland, it also provides capabilities to support the growth of the international business activities of UBS’s corporate and institutional clients through local hubs in Frankf urt, New York, Hong Kong and Singapore. The business is divided into Personal Banking and Corporate & Institutional Clients (CIC). Asset Management Asset Management is a large-scale and diversified global asset manager. It offers investment capabilities and styles across all major traditional and alternative asset classes, as well as platform solutions and advisory support to institutions, wholesale intermediaries and Global Wealth Management clients around the world. Asset Management offers clients a wid e range of investment products and services in different asset classes in the form of segregated, pooled or advisory mandates as well as registered investment funds in various jurisdictions. It covers the main asset management markets globally, with a pres ence in 23 countries grouped in four regions: the Americas; Europe, Middle East and Africa; Switzerland; and Asia Pacific. Investment Bank The Investment Bank provides a range of services to institutional, corporate and wealth management clients to help them raise capital, grow their businesses, invest and manage risks. It is focused on its traditional strengths in advisory, capital markets, equities and foreign exchange, complemented by a targeted rates and credit platform. The Investment Bank uses its r esearch and technology capabilities to support its clients as they adapt to the evolving market structures and changes in the regulatory, technological, economic and competitive landscape. The Investment Bank delivers solutions to corporate, institutional and wealth management clients, using its intellectual capital and electronic platforms. It also provides services to Global Wealth Management, Personal & Corporate Banking and Asset Management. It has a global reach, with a presence in 33 countries and pri ncipal offices in all major financial hubs. Corporate Center Corporate Center provides services to the Group through the Corporate Center – Services and Group Asset and Liability Management (Group ALM) units. Corporate Center also includes the Non-Core and Legacy Portfolio unit. Corporate Center – Services consists of the Group Chief Operating Officer area (Group Technology, Group Corporate Services, Group Human Resources, Group Operations and Group Sourcing), Group Finance (excluding Group ALM), Group Lega l, Group Risk Control, Communications & Branding, Group Compliance, Regulatory & Governance, and UBS in society. Group ALM m anages the structural risk of UBS’s balance sheet, including interest rate risk, structural foreign exchange risk and collateral ri sk, as well as the risks associated with the Group’s liquidity and funding portfolios. Group ALM also seeks to optimize financial performance by matching assets and liabilities. Group ALM serves all business divisions and the other Corporate Center units t hrough three main risk management areas, and its risk management is fully integrated into the Group’s risk governance framework. Non-core and Legacy Portfolio manages legacy positions from businesse s exited by the Investment Bank. It is overseen by a commi ttee chaired by the Group Chief Risk Officer. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2018 1 Net interest income 4,206 2,057 (31) 937 (398) (780) 35 6,025 Non-interest income 12,659 2,166 1,874 7,641 (158) (123) 246 24,306 Allocations from CC Group ALM 90 56 15 (391) 43 295 (108) 0 Income 2 16,956 4,278 1,857 8,188 (513) (608) 172 30,330 Credit loss (expense) / recovery (15) (56) 0 (38) 0 (1) (8) (118) Total operating income 16,941 4,222 1,857 8,150 (513) (609) 165 30,213 Personnel expenses 7,683 803 703 2,941 3,927 41 35 16,132 General and administrative expenses 1,724 285 202 651 3,789 42 104 6,797 Services (to) / from CC and other BDs 3,852 1,208 498 2,889 (8,624) 1 176 0 of which: services from CC Services 3,740 1,285 541 2,811 (8,697) 169 153 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,199 0 0 1,228 Amortization and impairment of intangible assets 3 50 0 1 12 2 0 0 65 Total operating expenses 13,313 2,310 1,406 6,501 293 84 315 24,222 Operating profit / (loss) before tax 3,628 1,912 451 1,649 (806) (693) (150) 5,991 Tax expense / (benefit) 1,468 Net profit / (loss) 4,522 Additional information Total assets 200,036 138,809 24,371 258,691 21,733 280,135 34,715 958,489 Additions to non-current assets 196 23 1 89 1,666 0 0 1,975 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 1 Net interest income 3,722 1,954 (33) 1,217 (355) 128 24 6,656 Non-interest income 12,196 1,807 2,097 7,020 76 (147) 50 23,098 Allocations from CC Group ALM 377 184 19 (351) 123 (268) (84) 0 Income 2 16,295 3,945 2,083 7,886 (157) (288) (11) 29,754 Credit loss (expense) / recovery (8) (20) 0 (92) 0 0 (11) (131) Total operating income 16,287 3,925 2,083 7,794 (157) (288) (22) 29,622 Personnel expenses 7,674 852 731 3,006 3,857 34 44 16,199 General and administrative expenses 1,263 296 235 675 4,336 27 117 6,949 Services (to) / from CC and other BDs 3,726 1,156 524 2,824 (8,445) (13) 228 0 of which: services from CC Services 3,626 1,251 562 2,729 (8,510) 145 198 0 Depreciation and impairment of property, equipment and software 4 13 1 10 1,024 0 0 1,053 Amortization and impairment of intangible assets 3 49 0 3 12 7 0 0 71 Total operating expenses 12,717 2,317 1,495 6,527 779 48 388 24,272 Operating profit / (loss) before tax 3,571 1,607 587 1,267 (935) (336) (411) 5,351 Tax expense / (benefit) 4,305 Net profit / (loss) 1,046 Additional information Total assets 194,990 139,062 14,638 269,731 21,371 252,092 47,395 939,279 Additions to non-current assets 120 15 1 3 1,606 0 0 1,746 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 1 Net interest income 3,318 1,914 (33) 1,012 (326) 599 3 6,487 Non-interest income 11,427 1,791 1,980 7,041 186 (237) 89 22,279 Allocations from CC Group ALM 512 336 7 (264) 37 (517) (112) 0 Income 2 15,257 4,042 1,955 7,790 (103) (155) (20) 28,766 Credit loss (expense) / recovery (8) (6) 0 (11) 0 0 (12) (38) Total operating income 15,249 4,035 1,955 7,779 (103) (155) (32) 28,729 Personnel expenses 7,254 855 736 3,122 3,847 31 67 15,913 General and administrative expenses 1,221 287 244 812 4,192 17 744 7,517 Services (to) / from CC and other BDs 3,627 1,093 512 2,798 (8,263) (49) 283 0 of which: services from CC Services 3,520 1,201 537 2,707 (8,303) 112 227 0 Depreciation and impairment of property, equipment and software 4 15 1 22 955 0 0 997 Amortization and impairment of intangible assets 3 54 0 5 12 21 0 0 93 Total operating expenses 12,159 2,250 1,498 6,765 753 (1) 1,094 24,519 Operating profit / (loss) before tax 3,090 1,785 457 1,014 (856) (154) (1,126) 4,209 Tax expense / (benefit) 777 Net profit / (loss) 3,432 Additional information Total assets 178,250 137,467 11,817 238,066 23,488 262,530 67,288 918,906 Additions to non-current assets 31 24 1 3 1,781 0 0 1,840 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. 3 Refer to Note 16 for more information. The operating regions shown in the table below correspond to the regional management structure of the Group. The allocation of operating income to these regions reflects, and is consistent with, the basis on which the business is managed and its performan ce is evaluated. These allocations involve assumptions and judgments that management considers to be reasonable, and may be refined to reflect changes in estimates or management structure. The main principles of the allocation methodology are that client r evenues are attributed to the domicile of the client and trading and portfolio management revenues are attributed to the country where the risk is managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues , such as those related to Corporate Center – Non-core and Legacy Portfolio, are managed at a Group level. These revenues are included in the Global line. The geographic analysis of non-current assets is based on the location of the entity in which the ass ets are recorded. For the year ended 31 December 2018 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.8 42 7.4 43 of which: USA 12.2 41 7.0 41 Asia Pacific 5.0 16 0.9 5 Europe, Middle East and Africa 6.3 21 2.0 12 Switzerland 7.3 24 6.8 40 Global (1.1) (3) 0.0 0 Total 30.2 100 17.1 100 For the year ended 31 December 2017 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.1 41 7.4 44 of which: USA 11.6 39 6.9 41 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa 6.2 21 2.0 12 Switzerland 7.0 24 6.5 40 Global (0.5) (2) 0.0 0 Total 29.6 100 16.7 100 For the year ended 31 December 2016 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 11.6 40 7.2 47 of which: USA 11.1 39 6.8 44 Asia Pacific 4.3 15 0.7 4 Europe, Middle East and Africa 6.2 22 1.8 11 Switzerland 7.0 24 5.9 38 Global (0.4) (1) 0.0 0 Total 28.7 100 15.6 100 1 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 a Segment reporting The operational structure of UBS AG as of 31 December 201 8 was comprised of Corporate Center and f our business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. Refer to “ Segment reporting ” in Note 1 a for more information Global Wealth Management In the firs t quarter of 2018, Wealth Management and Wealth Management Americas were combined into a single unit. Global Wealth Management provides investment advice and solutions to private clients, in particular in the ultra high net worth and high net worth segment s. Clients benefit from Global Wealth Management’s comprehensive set of capabilities, including wealth planning, investing, lending, asset protection, philanthropy, corporate and banking services as well as family office services in collaboration with the Investment Bank and Asset Management. Global Wealth Management has a global footprint, with the US representing its largest market. Clients are served through local offices and dedicated advisors. The ultra high net worth business is managed globally acros s the regions. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial products and services to private, corporate and institutional clients and operates in Switzerland in the private and corporate loan market. Personal & Corporate Banking is central to UBS AG’s universal bank model in Switzerland and it works with the wealth management, investment bank and asset management businesses to help clients receive the best products and solutions for their specific financial nee ds. While Personal & Corporate Banking operates primarily in its home market of Switzerland, it also provides capabilities to support the growth of the international business activities of UBS AG’s corporate and institutional clients through local hubs in Frankfurt, New York, Hong Kong and Singapore. The business is divided into Personal Banking and Corporate & Institutional Clients (CIC). Asset Management Asset Management is a large-scale and diversified global asset manager. It offers investment capabilities and styles across all major traditional and alternative asset classes, as well as platform solutions and advisory support to institutions, wholesale intermediaries and Global Wealth Management clients around the world. Asset Management offers clients a wide range of investment products and services in different asset classes in the form of segregated, pooled or advisory mandates as well as registered investment funds in various jurisdictions. It covers the main asset management markets globally, with a presence in 23 countries grouped in four regions: the Americas; Europe, Middle East and Africa; Switzerland; and Asia Pacific. Investment Bank The Investment Bank provides a range of services to institutional, corporate and wealth management clients to help them raise capital, grow their businesses, invest and manage risks. It is focused on its traditional strengths in advisory, capital markets, equities and foreign exchange, complemented by a targeted rates and credit pl atform. The Investment Bank uses its research and technology capabilities to support its clients as they adapt to the evolving market structures and changes in the regulatory, technological, economic and competitive landscape. The Investment Bank delivers solutions to corporate, institutional and wealth management clients, using its intellectual capital and electronic platforms. It also provides services to Global Wealth Management, Personal & Corporate Banking and Asset Management. It has a global reach, w ith a presence in 33 countries and principal offices in all major financial hubs. Corporate Center Corporate Center provides services to the Group through the Corporate Center – Services and Group Asset and Liability Management (Group ALM) units. Corporate Center also includes the Non-Core and Legacy Portfolio unit. Corporate Center – Services consists of the Group Chief Operating Officer area (Group Technology, Group Corporate Services, Group Human Resources, Group Operations and Group Sourcing), Group Fin ance (excluding Group ALM), Group Legal, Group Risk Control, Communications & Branding, Group Compliance, Regulatory & Governance, and UBS in society. Group ALM m anages the structural risk of UBS AG’s balance sheet, including interest rate risk, structura l foreign exchange risk and collateral risk, as well as the risks associated with UBS AG’s liquidity and funding portfolios. Group ALM also seeks to optimize financial performance by matching assets and liabilities. Group ALM serves all business divisions and the other Corporate Center units through three main risk management areas, and its risk management is fully integrated into UBS AG ’s risk governance framework. Non-core and Legacy Portfolio manages legacy positions from businesse s exited by the Investm ent Bank. It is overseen by a committee chaired by the Group Chief Risk Officer. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2018 1 Net interest income 4,206 2,057 (31) 937 (410) (845) 35 5,949 Non-interest income 12,659 2,167 1,874 7,642 312 (89) 246 24,811 Allocations from CC Group ALM 90 56 15 (391) 43 295 (108) 0 Income 2 16,957 4,279 1,857 8,189 (56) (639) 172 30,759 Credit loss (expense) / recovery (15) (56) 0 (38) 0 0 (8) (117) Total operating income 16,941 4,223 1,857 8,151 (56) (639) 165 30,642 Personnel expenses 7,680 799 702 2,936 1,800 40 35 13,992 General and administrative expenses 1,771 289 206 706 6,956 43 105 10,075 Services (to) / from CC and other BDs 3,851 1,206 496 2,884 (8,615) 1 176 0 of which: services from CC Services 3,739 1,282 539 2,806 (8,688) 169 152 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,023 0 0 1,052 Amortization and impairment of intangible assets 3 50 0 1 12 2 0 0 65 Total operating expenses 13,356 2,309 1,407 6,546 1,166 84 317 25,184 Operating profit / (loss) before tax 3,586 1,914 450 1,604 (1,221) (723) (152) 5,458 Tax expense / (benefit) 1,345 Net profit / (loss) 4,113 Additional information Total assets 200,036 138,873 24,371 258,871 20,193 280,996 34,715 958,055 Additions to non-current assets 196 23 1 89 1,448 0 0 1,757 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 1 Net interest income 3,723 1,954 (33) 1,217 (361) 84 24 6,607 Non-interest income 12,197 1,807 2,097 7,020 476 (77) 50 23,569 Allocations from CC Group ALM 377 184 19 (351) 123 (268) (84) 0 Income 2 16,296 3,945 2,083 7,886 237 (260) (11) 30,176 Credit loss (expense) / recovery (8) (20) 0 (92) 0 0 (11) (131) Total operating income 16,288 3,925 2,083 7,795 237 (260) (22) 30,044 Personnel expenses 7,679 849 731 3,007 2,608 34 44 14,952 General and administrative expenses 1,308 300 238 728 6,283 27 116 9,001 Services (to) / from CC and other BDs 3,726 1,154 522 2,822 (8,438) (13) 228 0 of which: services from CC Services 3,626 1,248 560 2,727 (8,503) 145 197 0 Depreciation and impairment of property, equipment and software 4 13 1 10 916 0 0 945 Amortization and impairment of intangible assets 3 49 0 3 12 7 0 0 71 Total operating expenses 12,766 2,316 1,496 6,578 1,376 48 388 24,969 Operating profit / (loss) before tax 3,522 1,609 587 1,216 (1,139) (308) (410) 5,076 Tax expense / (benefit) 4,242 Net profit / (loss) 834 Additional information Total assets 194,990 139,094 14,639 269,849 19,907 254,146 47,395 940,020 Additions to non-current assets 120 15 1 3 1,509 0 0 1,648 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 1 Net interest income 3,318 1,914 (33) 1,012 (326) 568 3 6,457 Non-interest income 11,427 1,791 1,980 7,039 253 (169) 89 22,411 Allocations from CC Group ALM 512 336 7 (264) 37 (517) (112) 0 Income 2 15,257 4,042 1,955 7,788 (36) (118) (20) 28,868 Credit loss (expense) / recovery (8) (6) 0 (11) 0 0 (12) (38) Total operating income 15,250 4,035 1,955 7,777 (36) (118) (32) 28,831 Personnel expenses 7,253 854 736 3,122 3,718 31 67 15,782 General and administrative expenses 1,261 288 245 861 4,361 17 743 7,776 Services (to) / from CC and other BDs 3,626 1,092 512 2,790 (8,255) (49) 283 0 of which: services from CC Services 3,520 1,200 537 2,700 (8,295) 112 227 0 Depreciation and impairment of property, equipment and software 4 15 1 22 950 0 0 992 Amortization and impairment of intangible assets 3 54 0 5 12 21 0 0 93 Total operating expenses 12,199 2,250 1,499 6,807 796 (1) 1,093 24,643 Operating profit / (loss) before tax 3,051 1,785 455 970 (832) (117) (1,125) 4,188 Tax expense / (benefit) 753 Net profit / (loss) 3,435 Additional information Total assets 178,250 137,499 11,816 238,151 23,630 262,603 67,288 919,236 Additions to non-current assets 31 24 1 3 1,763 0 0 1,821 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. 3 Refer to Note 16 for more information. The operating regions shown in the table below correspond to the regional management structure of UBS AG. The allocation of operating income to these regions reflects, and is co nsistent with, the basis on which the business is managed and its performance is evaluated. These allocations involve assumptions and judgments that management considers to be reasonable, and may be refined to reflect changes in estimates or management str ucture. The main principles of the allocation methodology are that client revenues are attributed to the domicile of the client and trading and portfolio management revenues are attributed to the country where the risk is managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues, such as those related to Corporate Center – Non-core and Legacy Portfolio, are managed at a global level. These revenues are included in the Global line. The geographic analysis o f non-current assets is based on the location of the entity in which the assets are recorded. For the year ended 31 December 2018 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.8 42 7.4 46 of which: USA 12.2 40 7.0 43 Asia Pacific 5.0 16 0.8 5 Europe, Middle East and Africa 6.3 20 1.8 11 Switzerland 7.3 24 6.2 38 Global (0.6) (2) 0.0 0 Total 30.6 100 16.2 100 For the year ended 31 December 2017 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.1 40 7.4 47 of which: USA 11.6 39 6.9 44 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa 6.2 21 1.7 10 Switzerland 7.0 23 6.0 38 Global 0.0 0 0.0 0 Total 30.0 100 15.8 100 For the year ended 31 December 2016 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 11.6 40 7.2 47 of which: USA 11.1 38 6.8 44 Asia Pacific 4.3 15 0.6 4 Europe, Middle East and Africa 6.2 22 1.8 11 Switzerland 7.0 24 5.9 38 Global (0.3) (1) 0.0 0 Total 28.8 100 15.5 100 1 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. |
Net interest income and other n
Net interest income and other net income from fair value changes on financial instruments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments Explanatory | Income statement notes Note 3 Net interest income and other net income from fair value changes on financial instruments Change in presentation of n et interest income and o ther net income from fair value changes on financial instruments The table on the following pages reflects certain presentation changes made to reflect the effects from the adoption of new standards and interpretations in 2018. These changes are summariz ed as follows: In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, UBS presents interest income an d interest expense calculated , usin g the effective interest rate method, on financial instruments measured at amortiz ed cost and financial assets measured at fair value through other comprehensive income separately from interest income and expense on financial instruments measured at fair value through profit or loss (FVTPL) in the income statement. Comparative informati on has been adjusted accordingly. As a result of this change, forward points on certain short - duration foreign exchange contracts are now presented within Interest income from financial instruments at fair value held for trading that were previously presen ted within Interest income from loans and deposits . Comparative information was restated accordingly. Upon adoption of IFRS 9, certain assets and liabilities were reclassified from amortized cost to fair value through profit or loss ( auction rate securitie s, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances ). This has resulted in the interest income from these instruments moving from Interest income (expense) from financial instruments measured at amortized cost to I nterest income (expense) from financial instruments measured at fair value through profit or loss . These changes have been applied prospectively from 1 January 2018 with certain prior-period information being adjusted for comparability. Comparative informa tion for brokerage balances now separately presents the related interest income and expense , which was formerly included within Interest income (expense) from loans and deposits . A new line, Interest income from financial instruments at fair value not held for trading , has been included to accommodate in particular interest income from financial assets previously designated at fair value under IAS 39, which are now mandatorily classified at fair value through profit or loss under IFRS 9. Comparative informa tion has been adjusted accordingly. N et gains / losses from financial assets previously designated at fair value under IAS 39 (2017: net gains of USD 2,614 million ; 2016: net losses of USD 174 million) are no longer separately disclosed in the table on th e following pages as assets are now mandatorily classified at fair value through profit or loss under IFRS 9. For the year ended USD million 31.12.18 31.12.17 31.12.16 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,710 5,018 5,403 Net interest income from financial instruments measured at fair value through profit or loss 2,315 1,638 1,084 Other net income from fair value changes on financial instruments 5,984 5,065 5,023 Total 1 12,008 11,721 11,510 Global Wealth Management 5,254 5,149 4,893 of which: net interest income 4,310 4,103 3,843 of which: transaction-based income from foreign exchange and other intermediary activity 2 944 1,046 1,050 Personal & Corporate Banking 2,514 2,510 2,563 of which: net interest income 2,106 2,127 2,225 of which: transaction-based income from foreign exchange and other intermediary activity 2 408 383 337 Asset Management (30) (24) (29) Investment Bank 4,812 4,363 4,330 Corporate Client Solutions 1,056 1,087 830 Investor Client Services 3,756 3,276 3,500 Corporate Center (541) (278) (246) CC – Services (159) (43) (90) CC – Group ALM (554) (162) (96) CC – Non-core and Legacy Portfolio 173 (72) (60) Net interest income 3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4,5 7,801 6,722 8,079 Interest income from brokerage balances 1,030 906 Interest income from securities financing transactions 6 1,567 1,573 1,152 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 581 260 Interest income from other financial instruments measured at amortized cost 266 99 54 Interest income from debt instruments measured at fair value through other comprehensive income 142 152 189 Interest income from derivative instruments designated as cash flow hedges 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,100 10,422 10,379 Interest expense on loans and deposits 7 1,980 1,050 689 Interest expense on brokerage balances 354 147 Interest expense on securities financing transactions 8 1,130 1,473 1,251 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 568 241 Interest expense on debt issued 3,281 2,528 2,889 Total interest expense from financial instruments measured at amortized cost 6,391 5,404 4,976 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,710 5,018 5,403 Net interest income from financial instruments measured at fair value through profit or loss Interest income from financial instruments at fair value held for trading 4,9 3,724 3,483 3,201 Interest income from brokerage balances 1,243 Interest income from financial instruments at fair value not held for trading 9 1,951 512 330 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 10 970 Other interest income 50 61 48 Total interest income from financial instruments measured at fair value through profit or loss 6,968 4,056 3,579 Interest expense on financial instruments at fair value held for trading 11 1,671 1,537 1,644 Interest expense on brokerage balances 668 Interest expense on financial instruments designated at fair value 2,314 881 851 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 12 765 Total interest expense from financial instruments measured at fair value through profit or loss 4,653 2,418 2,495 Total net interest income from financial instruments measured at fair value through profit or loss 2,315 1,638 1,084 For the year ended USD million 31.12.18 31.12.17 31.12.16 Other net income from fair value changes on financial instruments Investment Bank Corporate Client Solutions 709 611 188 Investment Bank Investor Client Services 3,537 2,863 3,382 Other business divisions and Corporate Center 1,738 1,591 1,453 Other net income from fair value changes on financial instruments 5,984 5,065 5,023 of which: net gains / (losses) from financial liabilities designated at fair value 13 9,382 (3,979) (1,516) 1 Net interest income and other net income from fair value changes on financial instruments presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Mainly includes spread-related income in connection with client-driven transactions, foreign currency translation effects and income and expenses from precious metals, which are included in the income statement line Other net income from fair value changes on financial instruments. 3 Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). 4 As a consequence of amendments to IAS 1, Presentation of Financial Statements, effective 1 January 2018, forward points on certain short-duration foreign exchange contracts previously presented within Interest income from loans and deposits are now presented within Interest income from financial instruments at fair value held for trading. Comparative information was restated accordingly. 5 Consists of interest income from cash and balances at central banks, loans and advances to banks, and negative interest on amounts due to banks and customer deposits. 6 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 7 Consists of interest expense on amounts due to banks and customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 8 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 9 Includes dividend income. 10 Includes interest income on certain reverse repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding repurchase agreements. 11 Includes expense related to dividend payment obligations on financial instruments held for trading. 12 Includes interest expense on certain repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding reverse repurchase agreements. 13 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Other net income from fair value changes on financial instruments. 2018 includes a net gain of USD 2,152 million related to amounts due under unit-linked investment contracts, which are designated at fair value under IFRS 9. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments Explanatory | Income statement notes Note 3 Net interest income and other net income from fair value changes on financial instruments Change in presentation of net interest income and other net income from fair value changes on financial instruments The table on the following page s reflects certain presentation changes made to reflect the effects from the adoption of new standards and interpretations in 2018. These changes are summarized as follows: In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, UBS presents interest income and interest expense calculated , using the effective interest rate method , on financial instruments measured at amortized cost and financial assets measured at fair value through other comprehensive income separately from inter est income and expense on financial instruments measured at fair value through profit or loss (FVTPL) in the income statement. Comparative information has been adjusted accordingly. As a result of this change, forward points on certain short - duration forei gn exchange contracts are now presented within Interest income from financial instruments at fair value held for trading that were previously presented within Interest income from loans and deposits . Comparative information was restated accordingly. Upon a doption of IFRS 9, certain assets and liabilities were reclassified from amortized cost to fair value through profit or loss (auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances). This has res ulted in the interest income from these instruments moving from Interest income (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss . These cha nges have been applied prospectively from 1 January 2018 with certain prior - period information being adjusted for comparability. Comparative information for brokerage balances now separately presents the related interest income and expense , which was forme rly included within Interest income (expense) from loans and deposits . A new line, Interest income from financial instruments at fair value not held for trading , has been included to accommodate in particular interest income from fina ncial assets previously designated at fair value under IAS 39, which are now mandatorily classified at fair value through profit or loss under IFRS 9. Comparative information has been adjusted accordingly. Net gains / losses from financial assets previous ly designated at fair value under IAS 39 (2017: net gains of USD 2, 567 million ; 2016: net losses of USD 17 1 million) are no longer separately disclosed in the table on the following pages as assets are now mandatorily classified at fair value through profi t or loss under IFRS 9. For the year ended USD million 31.12.18 31.12.17 31.12.16 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,628 4,969 5,372 Net interest income from financial instruments measured at fair value through profit or loss 2,321 1,638 1,084 Other net income from fair value changes on financial instruments 5,977 5,067 5,018 Total 1 11,925 11,674 11,475 Global Wealth Management 5,254 5,150 4,893 of which: net interest income 4,310 4,104 3,843 of which: transaction-based income from foreign exchange and other intermediary activity 2 944 1,046 1,050 Personal & Corporate Banking 2,514 2,510 2,563 of which: net interest income 2,106 2,127 2,225 of which: transaction-based income from foreign exchange and other intermediary activity 2 408 383 337 Asset Management (30) (24) (29) Investment Bank 4,813 4,364 4,328 Corporate Client Solutions 1,056 1,087 830 Investor Client Services 3,756 3,276 3,498 Corporate Center (626) (325) (279) CC – Services (177) (49) (93) CC – Group ALM (621) (204) (126) CC – Non-core and Legacy Portfolio 173 (72) (60) Net interest income 3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4,5 7,822 6,736 8,075 Interest income from brokerage balances 1,030 906 Interest income from securities financing transactions 6 1,567 1,573 1,152 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 663 252 Interest income from other financial instruments measured at amortized cost 266 99 54 Interest income from debt instruments measured at fair value through other comprehensive income 142 152 189 Interest income from derivative instruments designated as cash flow hedges 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,121 10,437 10,375 Interest expense on loans and deposits 7 3,566 2,161 1,537 Interest expense on brokerage balances 354 147 Interest expense on securities financing transactions 8 1,130 1,473 1,251 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 249 127 Interest expense on debt issued 1,797 1,480 2,068 Total interest expense from financial instruments measured at amortized cost 6,494 5,468 5,002 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,628 4,969 5,372 Net interest income from financial instruments measured at fair value through profit or loss Interest income from financial instruments at fair value held for trading 4,9 3,729 3,483 3,201 Interest income from brokerage balances 1,243 Interest income from financial instruments at fair value not held for trading 9 1,786 512 330 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 10 974 Other interest income 215 61 48 Total interest income from financial instruments measured at fair value through profit or loss 6,974 4,056 3,579 Interest expense on financial instruments at fair value held for trading 11 1,671 1,537 1,644 Interest expense on brokerage balances 668 Interest expense on financial instruments designated at fair value 2,314 881 851 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 12 124 Total interest expense from financial instruments measured at fair value through profit or loss 4,653 2,418 2,495 Total net interest income from financial instruments measured at fair value through profit or loss 2,321 1,638 1,084 For the year ended USD million 31.12.18 31.12.17 31.12.16 Other net income from fair value changes on financial instruments Investment Bank Corporate Client Solutions 709 611 188 Investment Bank Investor Client Services 3,537 2,863 3,380 Other business divisions and Corporate Center 1,730 1,593 1,451 Other net income from fair value changes on financial instruments 5,977 5,067 5,018 of which: net gains / (losses) from financial liabilities designated at fair value 13 9,382 (3,979) (1,516) 1 Net interest income and other net income from fair value changes on financial instruments presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Mainly includes spread-related income in connection with client-driven transactions, foreign currency translation effects and income and expenses from precious metals, which are included in the income statement line Other net income from fair value changes on financial instruments. 3 Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). 4 As a consequence of amendments to IAS 1, Presentation of Financial Statements, effective 1 January 2018, forward points on certain short-duration foreign exchange contracts previously presented within Interest income from loans and deposits are now presented within Interest income from financial instruments at fair value held for trading. Comparative information was restated accordingly. 5 Consists of interest income from cash and balances at central banks, loans and advances to banks, and negative interest on amounts due to banks and customer deposits. 6 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 7 Consists of interest expense on amounts due to banks and customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 8 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 9 Includes dividend income. 10 Includes interest income on certain reverse repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding repurchase agreements. 11 Includes expense related to dividend payment obligations on financial instruments held for trading. 12 Includes interest expense on certain repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding reverse repurchase agreements. 13 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Other net income from fair value changes on financial instruments. 2018 includes a net gain of USD 2,152 million related to amounts due under unit-linked investment contracts, which are designated at fair value under IFRS 9. Refer to Note 1c for more information. |
Net fee and commission income
Net fee and commission income | 12 Months Ended |
Dec. 31, 2018 | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income 1 For the year ended USD million 31.12.18 31.12.17 31.12.16 Underwriting fees 811 1,003 739 of which: equity underwriting fees 431 573 356 of which: debt underwriting fees 380 429 383 M&A and corporate finance fees 768 698 742 Brokerage fees 3,521 3,820 3,802 Investment fund fees 4,954 4,322 4,265 Portfolio management and related services 7,756 7,666 7,069 Other 1,786 1,854 1,757 Total fee and commission income 2 19,598 19,362 18,374 of which: recurring 12,911 of which: transaction-based 6,594 of which: performance-based 93 Brokerage fees paid 316 673 769 Other 1,387 1,167 1,013 Total fee and commission expense 1,703 1,840 1,781 Net fee and commission income 17,895 17,522 16,593 of which: net brokerage fees 3,205 3,147 3,033 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated. 2 Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,525 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 97 million for Corporate Center. |
UBS AG | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income 1 For the year ended USD million 31.12.18 31.12.17 31.12.16 Underwriting fees 843 1,029 787 of which: equity underwriting fees 431 573 356 of which: debt underwriting fees 412 456 431 M&A and corporate finance fees 768 698 742 Brokerage fees 3,521 3,821 3,804 Investment fund fees 4,955 4,322 4,265 Portfolio management and related services 7,756 7,666 7,069 Other 1,789 1,854 1,758 Total fee and commission income 2 19,632 19,390 18,425 of which: recurring 12,911 of which: transaction-based 6,629 of which: performance-based 93 Brokerage fees paid 316 673 769 Other 1,387 1,167 1,013 Total fee and commission expense 1,703 1,840 1,781 Net fee and commission income 17,930 17,550 16,644 of which: net brokerage fees 3,205 3,148 3,035 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated. 2 Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,557 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 100 million for Corporate Center. |
Other income
Other income | 12 Months Ended |
Dec. 31, 2018 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.18 31.12.17 31.12.16 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (290) 2,3 32 (96) Net gains / (losses) from disposals of investments in associates 46 4 0 0 Share of net profits of associates and joint ventures 529 5 76 109 Impairments related to associates (7) Total 284 101 12 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 195 350 Impairments 0 (15) (5) Total 1 180 345 Net gains / (losses) from disposals of financial assets measured at amortized cost 0 14 (3) Net income from properties (excluding net gains / (losses) from disposals) 6 24 24 26 Net gains / (losses) from disposals of properties held for sale 40 3 0 128 Other 79 191 156 Total other income 427 511 663 1 Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information. 2 Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. 3 Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. 4 Reflects a net foreign currency translation gain related to UBS Securities China. Refer to Note 32 for more information. 5 Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. 6 Includes net rent received from third parties and net operating expenses. |
UBS AG | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.18 31.12.17 31.12.16 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (292) 2,3 32 (96) Net gains / (losses) from disposals of investments in associates 46 4 0 0 Share of net profits of associates and joint ventures 529 5 76 109 Impairments related to associates (7) Total 283 101 12 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 195 350 Impairments 0 (15) (5) Total 1 180 345 Net gains / (losses) from disposals of financial assets measured at amortized cost 0 14 (3) Net income from properties (excluding net gains / (losses) from disposals) 6 24 24 26 Net gains / (losses) from disposals of properties held for sale 40 3 0 128 Income from shared services provided to UBS Group AG or its subsidiaries 7 478 395 48 Other 80 238 193 Total other income 905 952 749 1 Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information. 2 Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. 3 Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. 4 Reflects a net foreign currency translation gain related to UBS Securities China. Refer to Note 32 for more information. 5 Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. 6 Includes net rent received from third parties and net operating expenses. 7 Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
Personnel expenses
Personnel expenses | 12 Months Ended |
Dec. 31, 2018 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Salaries 1 6,448 6,154 6,305 Variable compensation – performance awards 2 2,995 3,151 3,013 of which: guarantees for new hires 43 36 30 Variable compensation – other 2 243 252 425 of which: replacement payments 3 72 72 87 of which: forfeiture credits (136) (107) (74) of which: severance payments 4 123 113 220 of which: retention plan and other payments 5 185 174 191 Financial advisor variable compensation 2,6 4,054 4,064 3,740 Contractors 489 460 426 Social security 791 814 755 Pension and other post-employment benefit plans 7 457 723 678 Other personnel expenses 654 581 570 Total personnel expenses 16,132 16,199 15,913 1 Includes role-based allowances. 2 Refer to Note 30 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor variable compensation consists of formulaic compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, new assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Changes to the pension fund of UBS in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of USD 241 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. |
UBS AG | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Salaries 1 5,199 5,423 6,210 Variable compensation – performance awards 2 2,794 3,054 3,005 of which: guarantees for new hires 43 36 30 Variable compensation – other 2 220 231 425 of which: replacement payments 3 68 70 87 of which: forfeiture credits (136) (106) (74) of which: severance payments 4 106 95 220 of which: retention plan and other payments 5 181 172 191 Financial advisor variable compensation 2,6 4,054 4,064 3,740 Contractors 184 318 425 Social security 629 731 742 Pension and other post-employment benefit plans 7 363 601 677 Other personnel expenses 549 531 559 Total personnel expenses 8 13,992 14,952 15,782 1 Includes role-based allowances. 2 Refer to Note 30 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor variable compensation consists of formulaic compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, new assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Changes to the pension fund of UBS AG in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS AG. As a consequence, a pre-tax gain of USD 132 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. 8 The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2018 | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Occupancy 914 908 946 Rent and maintenance of IT and other equipment 654 570 517 Communication and market data services 638 622 634 Administration 590 612 716 of which: UK and German bank levy 1 58 20 124 Marketing and public relations 366 419 473 Travel and entertainment 425 425 428 Professional fees 1,015 1,227 1,247 Outsourcing of IT and other services 1,427 1,597 1,656 Litigation, regulatory and similar matters 2 657 434 805 Other 110 135 94 Total general and administrative expenses 6,797 6,949 7,517 1 The UK bank levy expenses of USD 40 million for 2018 and USD 17 million for 2017 included a credit of USD 45 million and USD 85 million, respectively, related to prior years. 2 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 21 for more information. Also includes recoveries from third parties of USD 29 million, USD 55 million and USD 13 million for the years ended 31 December 2018, 31 December 2017 and 31 December 2016, respectively. |
UBS AG | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Occupancy 852 865 931 Rent and maintenance of IT and other equipment 326 422 517 Communication and market data services 520 544 632 Administration 5,383 3,644 1,077 of which: shared services costs charged by UBS Group AG or its subsidiaries 1 4,803 3,046 370 of which: UK and German bank levy 2 58 20 124 Marketing and public relations 277 338 470 Travel and entertainment 367 382 416 Professional fees 870 1,086 1,238 Outsourcing of IT and other services 729 1,169 1,610 Litigation, regulatory and similar matters 3 657 434 805 Other 95 118 79 Total general and administrative expenses 10,075 9,001 7,776 1 Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. 2 The UK bank levy expenses of USD 40 million for 2018 and USD 17 million for 2017 included a credit of USD 45 million and USD 85 million, respectively, related to prior years. 3 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 21 for more information. Also includes recoveries from third parties of USD 29 million, USD 55 million and USD 13 million for the years ended 31 December 2018, 31 December 2017 and 31 December 2016, respectively. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended USD million 31.12.18 31.12.17 31.12.16 Tax expense / (benefit) Swiss Current 469 455 465 Deferred 2,377 107 614 Non-Swiss Current 575 435 356 Deferred (1,953) 3,308 (658) Total income tax expense / (benefit) recognized in the income statement 1,468 4,305 777 Income tax recognized in the income statement An income tax expense of USD 1,468 million was recognized for the Group in 2018, which included a net Swiss tax expense of USD 2,846 million and a net non-Swiss tax benefit of USD 1,378 million. The Swiss tax expense included a deferred tax expense of USD 2,377 million, which reflected a net decre ase in deferred tax assets (DTA) previously recognized in relation to tax losses carried forward and deductible temporary differences of USD 760 million following their offset against profits for the year and the write-off of a Swiss temporary difference D TA of USD 1,617 million relating to UBS AG’s investment in our US intermediate holding company (US IHC), UBS Americas Holding LLC. The write-off occurred because the deductible temporary difference between the tax and accounting values in respect of UBS AG ’s investment in the US IHC is no longer expected to reverse in the foreseeable future, reflecting the expected repatriation of a significant portion of future US earnings. In addition, it included a current tax expense of USD 469 million related to taxabl e profits earned by Swiss subsidiaries against which no losses were available to offset. The non-Swiss tax expense included a deferred tax benefit of USD 1,953 million. This primarily reflected a net increase in US DTAs of USD 2,052 million following the review of the approach to the remeasurement of those DTAs. It also included other net deferred tax expenses of USD 99 million and a current tax expense of USD 575 million related to taxable profits earned by non-Swiss subsidiaries and branches against whic h no losses were available to offset. UBS considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its DTAs, including the length of time remaining until expiration for tax l oss carry-forwards and its assessment of expected future taxable profits. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. For the year ended USD million 31.12.18 31.12.17 31.12.16 Operating profit / (loss) before tax 5,991 5,351 4,209 of which: Swiss 1,843 2,093 2,674 of which: non-Swiss 4,148 3,258 1,535 Income taxes at Swiss tax rate of 21% 1,258 1,124 884 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 55 217 73 Tax effects of losses not recognized 223 173 182 Previously unrecognized tax losses now utilized (25) (368) (38) Non-taxable and lower taxed income (430) (309) (347) Non-deductible expenses and additional taxable income 905 606 933 Adjustments related to prior years – current tax 114 (13) 22 Adjustments related to prior years – deferred tax 26 4 2 Change in deferred tax recognition (795) (165) (969) Adjustments to deferred tax balances arising from changes in tax rates 0 2,897 19 Other items 137 139 17 Income tax expense / (benefit) 1,468 4,305 777 The tax expense of USD 1,468 million for 2018 was lower than the tax expense of USD 4,305 million in 2017. This was mainly because 2017 included a large net deferred tax expense of USD 3,415 million, which was primarily the result of a net write-down of DTAs related to the US federal corporate tax rate reduction included in the Tax Cuts and Jobs Act enacted in the fourth quarter of 2 017. The components of operating profit before tax, and the differences between income tax expense reflected in the financial statements and the amounts calculated at the Swiss tax rate, are provided in the table on the previous page and explained below. N on-Swiss tax rates differing from Swiss tax rate To the extent that Group profits or losses arise outside Switzerland, the applicable local tax rate may differ from the Swiss tax rate. This item reflects, for such profits or losses, an adjustment from the tax expense / benefit that would arise at the Swiss tax rate and the tax expense / benefit that would arise at the applicable local tax rate. If an entity generates a profit, a tax expense arises where the local tax rate is in excess of the Swiss tax rate and a tax benefit arises where the local tax rate is below the Swiss tax rate. Conversely, if an entity incurs a loss, a tax benefit arises where the local tax rate is in excess of the Swiss tax rate and a tax expense arises where the local tax rate is les s than the Swiss tax rate. Tax effects of losses not recognized This item relates to tax losses of entities arising in the year that are not recognized as DTAs. Consequently, no tax benefit arises in relation to those losses. Therefore, the tax benefit cal culated by applying the local tax rate to those losses as described above is reversed. Previously unrecognized tax losses now utilized This item relates to taxable profits of the year that are offset by tax losses of previous years for which no DTAs were p reviously recorded. Consequently, no current tax or deferred tax expense arises in relation to those taxable profits. Therefore, the tax expense calculated by applying the local rate on those profits is reversed. Non-taxable and lower taxed income This ite m relates to tax deductions for the year in respect of permanent differences. These include deductions in respect of profits that are either not taxable or are taxable at a lower rate of tax than the local tax rate. They also include deductions made for ta x purposes, which are not reflected in the accounts. Non-deductible expenses and additional taxable income This item relates to additional taxable income for the year in respect of permanent differences. These include income that is recognized for tax purposes by an entity, but is not included in its profit that is reported in the financial statements. In addition, they include expenses for the year that are non-deductible. For example, the costs of entertaining clients are not deductible in certain loc ations. Adjustments related to prior years – current tax This item relates to adjustments to current tax expense for prior years, e.g., if the tax payable for a year is agreed with the tax authorities in an amount that differs from the amount previously re flected in the financial statements. Adjustments related to prior years – deferred tax This item relates to adjustments to deferred tax positions recognized in prior years, e.g., if a tax loss for a year is fully recognized and the amount of the tax loss a greed with the tax authorities is expected to differ from the amount previously recognized as DTAs in the accounts. Change in deferred tax recognition This item relates to changes in DTAs, including those previously recognized resulting from reassessments of expected future taxable profits. It also includes changes in temporary differences in the year, for which deferred tax is not recognized. The net benefit in the year mainly relates to the upward revaluation of US DTAs, partly offset by the write-off of the Swiss temporary difference DTA relating to UBS AG’s investment in the US intermediate holding company. Adjustments to deferred tax balances arising from changes in tax rates This item relates to remeasurements of DTAs and liabilities recognized due to changes in tax rates. These have the effect of changing the future tax saving that is expected from tax losses or deductible tax differences and therefore the amount of DTAs recognized or, alternatively, changing the tax cost of additional taxable income f rom taxable temporary differences and therefore the deferred tax liability. Other items Other items include other differences between profits or losses at the local tax rate and the actual local tax expense or benefit, including increases in provisions for uncertain positions in relation to the current year and other items. Income tax recognized directly in equity Certain tax expenses and benefits were recognized directly in equity during the year. These included the following items: a net tax benefit of USD 345 million recognized in other comprehensive income (OCI) (2017: net benefit of USD 164 million), which incl uded a tax benefit of USD 67 million related to cash flow hedges (2017: benefit of USD 163 million), a tax benefit of USD 12 million related to financial assets recognized at fair value through OCI (2017: expense of USD 6 million), a tax expense of USD 2 m illion related to foreign currency translation gains and losses (2017: expense of USD 2 million), a tax benefit of USD 276 million related to defined benefit pension plans (2017: benefit of USD 11 million) and a tax expense of USD 8 million related to own credit (2017: expense of USD 2 million); a tax benefit of USD 4 million recognized in share premium (2017: benefit of USD 21 million). Deferred tax assets and liabilities The Group has gross DTAs, valuation allowances and recognized DTAs related to tax lo ss carry-forwards and deductible temporary differences and also deferred tax liabilities in respect of taxable temporary differences as shown in the table below. The valuation allowances reflect DTAs that were not recognized because it was not considered p robable that future taxable profits will be available to utilize the related tax loss carry-forwards and deductible temporary differences. Of the recognized DTAs as of 31 December 2018, USD 9.5 billion related to the US, USD 0.3 billion related to Switzerl and and USD 0.3 billion related to other locations (a s of 31 December 2017, USD 7.2 billion related to the US, USD 2.5 billion related to Switzerland and USD 0.4 billion related to other locations). As of 31 December 2018, the Group has recognized DTAs of USD 53 million (31 December 2017: USD 1,263 million) in respect of entities that incurred losses in either the current or preceding year. The recognition of these DTAs is supported by projections of future taxable profits for these entities. USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,571 (565) 4,006 5,165 (1,001) 4,164 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,150 (192) 959 1,165 (228) 937 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 202 0 202 2,392 0 2,392 of which: other 670 (298) 372 1,123 (713) 410 Total deferred tax assets 19,659 (9,554) 10,105 22,537 (12,481) 10,056 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 35 Total deferred tax liabilities 88 54 1 Less deferred tax liabilities as applicable. As of 31 December 2018, tax loss carry-forwards totaling USD 38,428 million (31 December 2017: USD 47,427 million) that are not recognized as DTAs were available to be offset against future taxable profits. These tax losses expire as outlined in the table bel ow. Unrecognized tax loss carry-forwards USD million 31.12.18 31.12.17 Within 1 year 0 171 From 2 to 5 years 464 106 From 6 to 10 years 16,297 3,267 From 11 to 20 years 4,457 26,688 No expiry 17,210 17,195 Total 38,428 47,427 As of 31 December 2018 , USD 20. 0 billion of the unrecognized tax losses carried forward related to the US, USD 14.2 billion related to the UK and USD 4. 2 billion related to other locations (at 31 December 2017, USD 28.6 billion related to the US, USD 14.3 billion related to the UK and USD 4.5 billion related to other locations). In general, Swiss tax losses can be carried forward for seven years, US federa l tax losses incurred prior to 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK tax losses for an unlimited period. The amounts of US tax loss carry-forwards that are included in the above table are based on their amount for federal tax purposes rather than for state and local tax purposes. Deferred tax liabilities are recognized in respect of investments in subsidiaries, branches and associates and interests in joint arrangements, except to the extent tha t the Group can control the timing of the reversal of the associated taxable temporary difference and it is probable that it will not reverse in the foreseeable future. However, as of 31 December 2018, this exception was not considered to apply to any taxa ble temporary differences. |
UBS AG | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended USD million 31.12.18 31.12.17 31.12.16 Tax expense / (benefit) Swiss Current 434 408 431 Deferred 2,326 91 624 Non-Swiss Current 537 435 356 Deferred (1,952) 3,308 (658) Total income tax expense / (benefit) recognized in the income statement 1,345 4,242 753 Income tax recognized in the income statement An income tax expense of USD 1,345 million was recognized for UBS AG in 2 018, which included a net Swiss tax expense of USD 2,760 million and a net non-Swiss tax benefit of USD 1,415 million. The Swiss tax expense included a deferred tax expense of USD 2,326 million, which reflected a net decrease in deferred tax assets (DTA) p reviously recognized in relation to tax losses carried forward and deductible temporary differences of USD 709 million following their offset against profits for the year and the write-off of a Swiss temporary difference DTA of USD 1,617 million relating t o UBS AG’s investment in our US intermediate holding company (US IHC), UBS Americas Holding LLC. The write-off occurred because the deductible temporary difference between the tax and accounting values in respect of UBS AG’s investment in the US IHC is no longer expected to reverse in the foreseeable future, reflecting the expected repatriation of a significant portion of future US earnings. In addition, it included a current tax expense of USD 434 million related to taxable profits earned by Swiss subsidia ries against which no losses were available to offset. The non-Swiss tax expense included a deferred tax benefit of USD 1,952 million. This primarily reflected a net increase in US DTAs of USD 2,052 million following the review of the approach to the remeasurement of those DTAs. It also included other net deferred tax expenses of USD 100 million and a current tax expense of USD 537 million related to taxable profits earned by non-Swiss subsidiaries and branches against which no losses were available to offset. UBS AG considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its DTAs, including the length of time remaining until expiration for tax loss carry-forwards and its assessment of expected future taxable profits. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. For the year ended USD million 31.12.18 31.12.17 31.12.16 Operating profit / (loss) before tax 5,458 5,076 4,188 of which: Swiss 1,427 1,911 2,614 of which: non-Swiss 4,031 3,165 1,574 Income taxes at Swiss tax rate of 21% 1,146 1,066 879 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 68 230 70 Tax effects of losses not recognized 222 173 182 Previously unrecognized tax losses now utilized (25) (368) (38) Non-taxable and lower taxed income (419) (306) (337) Non-deductible expenses and additional taxable income 883 588 898 Adjustments related to prior years – current tax 114 (14) 22 Adjustments related to prior years – deferred tax 27 6 2 Change in deferred tax recognition (802) (165) (961) Adjustments to deferred tax balances arising from changes in tax rates 0 2,897 19 Other items 130 135 16 Income tax expense / (benefit) 1,345 4,242 753 The tax expense of USD 1,345 million for 2018 was lower than the tax expense of USD 4,242 million in 2017. This was mainly because 2017 included a large net deferred tax expense of USD 3,399 million, which was primarily the result of a net write-down of DTAs related to the US federal corporate t ax rate reduction included in the Tax Cuts and Jobs Act enacted in the fourth quarter of 2017. The components of operating profit before tax, and the differences between income tax expense reflected in the financial statements and the amounts calculated at the Swiss tax rate, are provided in the table on the previous page and explained below. Non-Swiss tax rates differing from Swiss tax rate To the extent that UBS AG profits or losses arise outside Switzerland, the applicable local tax rate may differ from the Swiss tax rate. This item reflects, for such profits or losses, an adjustment from the tax expense / benefit that would arise at the Swiss tax rate and the tax expense / benefit that would arise at the applicable local tax rate. If an entity generates a profit, a tax expense arises where the local tax rate is in excess of the Swiss tax rate and a tax benefit arises where the local tax rate is below the Swiss tax rate. Conversely, if an entity incurs a loss, a tax benefit arises where the local tax rate is in excess of the Swiss tax rate and a tax expense arises where the local tax rate is less than the Swiss tax rate. Tax effects of losses not recognized This item relates to tax losses of entities arising in the year that are not recognized as DTAs. Cons equently, no tax benefit arises in relation to those losses. Therefore, the tax benefit calculated by applying the local tax rate to those losses as described above is reversed. Previously unrecognized tax losses now utilized This item relates to taxable p rofits of the year that are offset by tax losses of previous years for which no DTAs were previously recorded. Consequently, no current tax or deferred tax expense arises in relation to those taxable profits. Therefore, the tax expense calculated by applyi ng the local rate on those profits is reversed. Non-taxable and lower taxed income This item relates to tax deductions for the year in respect of permanent differences. These include deductions in respect of profits that are either not taxable or are taxab le at a lower rate of tax than the local tax rate. They also include deductions made for tax purposes, which are not reflected in the accounts. Non-deductible expenses and additional taxable income This item relates to additional taxable income for the year in respect of permanent differences. These include income that is recognized for tax purposes by an entity, but is not included in its profit that is reported in the financial statements. In addition, they include expenses for the year that are non-de ductible. For example, the costs of entertaining clients are not deductible in certain locations. Adjustments related to prior years – current tax This item relates to adjustments to current tax expense for prior years, e.g. if the tax payable for a year i s agreed with the tax authorities in an amount that differs from the amount previously reflected in the financial statements. Adjustments related to prior years – deferred tax This item relates to adjustments to deferred tax positions recognized in prior y ears, e.g., if a tax loss for a year is fully recognized and the amount of the tax loss agreed with the tax authorities is expected to differ from the amount previously recognized as DTAs in the accounts. Change in deferred tax recognition This item relate s to changes in DTAs, including those previously recognized resulting from reassessments of expected future taxable profits. It also includes changes in temporary differences in the year, for which deferred tax is not recognized. The net benefit in the yea r mainly relates to the upward revaluation of US DTAs, partly offset by the write-off of the Swiss temporary difference DTA relating to UBS AG’s investment in the US intermediate holding company. Adjustments to deferred tax balances arising from changes in tax rates This item relates to remeasurements of DTAs and liabilities recognized due to changes in tax rates. These have the effect of changing the future tax saving that is expected from tax losses or deductible tax differences and therefore the amount o f DTAs recognized or, alternatively, changing the tax cost of additional taxable income from taxable temporary differences and therefore the deferred tax liability. Other items Other items include other differences between profits or losses at the local ta x rate and the actual local tax expense or benefit, including increases in provisions for uncertain positions in relation to the current year and other items. Income tax recognized directly in equity Certain tax expenses and benefits were recognized directly in equity during the year. These included the following items: a net tax benefit of USD 314 million recognized in other comprehensive income (OCI) (2017: net benefit of USD 159 million) , which included a tax benefit of USD 67 million related to cash flow hedges (2017: benefit of USD 163 million), a tax benefit of USD 12 million related to financ ial assets recognized at fair value through OCI (2017: expense of USD 6 million), a tax expense of USD 2 million related to foreign currency translation gains and losses (2017: expense of USD 2 million), a tax benefit of USD 245 million related to defined benefit pens ion plans (2017: benefit of USD 6 million) and a tax expense of USD 8 million related to own credit (2017: expense of USD 2 million); a tax expense of USD 5 million recognized in share premium (2017: benefit of USD 16 million). Deferred tax as sets and liabilities UBS AG has gross DTAs, valuation allowances and recognized DTAs related to tax loss carry-forwards and deductible temporary differences and also deferred tax liabilities in respect of taxable temporary differences as shown in the table below. The valuation allowances reflect DTAs that were not recognized because it was not considered probable that future taxable profits will be available to utilize the related tax loss carry-forwards and deductible temporary differences. Of the recogniz ed DTAs as of 31 December 2018, USD 9.5 billion related to the US, USD 0.3 billion related to Switzerland and USD 0.3 billio n related to other locations (as of 31 December 2017, USD 7.2 billion related to the US, USD 2.5 billion related to Switzerland and USD 0. 3 billion related to other locations). As of 31 December 2018, UBS AG has recognized DTAs of USD 53 million (31 December 2017: USD 1,216 million) in respect of entities that incurred losses in either the current or preceding year. The recognition of these DTAs is supported by projections of future taxable profits for these entities. USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,526 (559) 3,967 5,102 (1,001) 4,101 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,146 (192) 954 1,162 (228) 934 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 179 0 179 2,344 0 2,344 of which: other 653 (292) 361 1,111 (713) 398 Total deferred tax assets 19,614 (9,548) 10,066 22,474 (12,481) 9,993 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 32 Total deferred tax liabilities 88 51 1 Less deferred tax liabilities as applicable. As of 31 December 2018, tax loss carry-forwards totaling USD 38,428 million (31 December 2017: USD 47,427 million) that are not recognized as DTAs were available to be offset against future taxable profits. These tax losses expire as outlined in the table below. Unrecognized tax loss carry-forwards USD million 31.12.18 31.12.17 Within 1 year 0 171 From 2 to 5 years 464 106 From 6 to 10 years 16,297 3,267 From 11 to 20 years 4,457 26,688 No expiry 17,210 17,195 Total 38,428 47,427 As of 31 December 2018 , USD 20.0 billion of the unrecognized tax losses carried forward related to the US, USD 14.2 billion related to the UK and USD 4.2 billion related to other locations (at 31 December 2017, USD 28. 6 billion related to the US, USD 14.3 billi on related to the UK and USD 4.5 billion related to other locations). In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 Decem ber 2017 and also UK tax losses for an unlimited period. The amounts of US tax loss carry-forwards that are included in the above table are based on their amount for federal tax purposes rather than for state and local tax purposes. Deferred tax liabiliti es are recognized in respect of investments in subsidiaries, branches and associates and interests in joint arrangements, except to the extent that UBS AG can control the timing of the reversal of the associated taxable temporary difference and it is proba ble that it will not reverse in the foreseeable future. However, as of 31 December 2018, this exception was not considered to apply to any taxable temporary differences. |
Earnings per share and shares o
Earnings per share and shares outstanding | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure of earnings per share and shares outstanding [text block] | Note 9 Earnings per share (EPS) and shares outstanding As of or for the year ended 31.12.18 31.12.17 31.12.16 Basic earnings (USD million) Net profit / (loss) attributable to shareholders 4,516 969 3,348 Diluted earnings (USD million) Net profit / (loss) attributable to shareholders 4,516 969 3,348 Less: (profit) / loss on own equity derivative contracts (2) 0 0 Net profit / (loss) attributable to shareholders for diluted EPS 4,514 969 3,348 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,730,297,877 3,716,174,261 3,719,764,322 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 111,271,269 120,540,272 104,244,665 Weighted average shares outstanding for diluted EPS 3,841,569,146 3,836,714,533 3,824,008,987 Earnings per share (USD) Basic 1.21 0.26 0.90 Diluted 1.18 0.25 0.88 Shares outstanding Shares issued 3,855,634,749 3,853,096,603 3,850,766,389 Treasury shares 166,467,802 132,301,550 138,441,772 Shares outstanding 3,689,166,947 3,720,795,053 3,712,324,617 1 The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. The table below outlines the potential shares which could dilute basic earnings per share in the future, but were not dilutive for the periods presented. Number of shares 31.12.18 31.12.17 31.12.16 Potentially dilutive instruments Employee share-based compensation awards 3,605,198 24,124,341 46,981,698 Other equity derivative contracts 11,912,450 9,122,496 8,419,122 Total 15,517,648 33,246,837 55,400,820 |
UBS AG | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure of earnings per share and shares outstanding [text block] | Note 9 Earnings per share (EPS) and shares outstanding In 2015, UBS AG shares were delisted from the SIX Swiss Exchange and the New York Stock Exchange . As of 31 December 201 8 , 100% of UBS AG ’ s issued shares were held by UBS Group AG and therefore were not publicly traded. Accordingly , earnings per share information is not provided for UBS AG. |
Financial assets at amortized c
Financial assets at amortized cost and other positions in scope of expected credit loss measurement | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Provision Matrix [Line Items] | |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios b ased on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for bal ances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the market (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate B anking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated credit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
UBS AG | |
Disclosure Of Provision Matrix [Line Items] | |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS AG has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based o n shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for balances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the mark et (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate Ba nking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated c redit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Derivative instruments
Derivative instruments | 12 Months Ended |
Dec. 31, 2018 | |
Derivative [Line Items] | |
Disclosure Of Derivative Financial Instruments Explanatory | Note 11 Derivative instruments Derivatives: overview A derivative is a financial instrument for which the value is derived from one or more variables (underlyings). Underlyings may be indices, foreign currency exchange or interest rates, or the value of shares, commodities, bonds or other financial instruments. A derivative commonly requires little or no initial net investment by either counterparty to the trade. The majority of derivative contracts are negotiated with respect to notional amounts, tenor, price and settlement mechanisms, as is customary with other financial instruments. Over-the-counter (OT C) derivative contracts are usually traded under a standardized International Swaps and Derivatives Association (ISDA) master agreement between UBS and its counterparties. Terms are negotiated directly with counterparties and the contracts have industry st andard settlement mechanisms prescribed by ISDA. Beginning in 2016, regulators in various jurisdictions began a phased introduction of rules requiring the payment and collection of initial and variation margin on certain OTC derivative contracts, which may have a bearing on their price and other relevant terms . The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will generally facilitate the reduction of systemic credit exposures. Other derivative contracts are standardized in terms of their amounts and settlement dates, and are bought and sold on regulated exchanges. These are commonly referred to as exchange-traded derivatives (ETD) contracts. Exchanges offer the benef its of pricing transparency, standardized daily settlement of changes in value and consequently reduced credit risk. For presentation purposes, the Group’s derivative contracts are subject to IFRS netting provisions. Derivative instruments are measured at fair value and generally classified on the balance sheet as Derivative financial instruments within Assets when having positive replacement values and Derivative financial instruments within Liabilities when havi ng negative replacement values. However, ETD that are economically settled on a daily basis and OTC derivatives that are either legally settled or in substance net settled on a daily basis are classified as Cash collateral receivables on derivative instruments or Cash collateral payables on derivati ve instruments . Changes in the replacement values of derivatives are recorded in Other net income from fair value changes on financial instruments, except for interest on derivatives designated as hedging instruments in effective hedge accounting relations hips and forward points on certain short - and long- duration foreign exchange contracts , which are recorded in Net interest income . Refer to Note 1 a item s 3j and 3 k for more information Refer to Note 25 for more information on derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrangements The Group uses various derivative instruments for both trading and hedging purposes. Derivative product types as well as v aluation principles and techniques applied by the Group are described in Note 24 . Positive replacement values represent the estimated amount the Group would receive if the derivative contract were sold on the balance sheet date. Negative replaceme nt values i ndicate the estimated amount the Group would pay to transfer its obligations in respect of the underlying contract were it required or entitled to do so on the balance sheet date. Derivatives embedded in other financial instruments are not inclu ded in the “Derivative instruments” table within this Note. Bifurcated embedded derivatives are presented on the same balance sheet line as the host contract. In cases where UBS applies the fair value option to hybrid instruments, bifurcation of an embedde d derivative component is not required and as such this component is also not included in the “Derivative instruments” table. Refer to Notes 19 and 24 for more information Risks of derivative instruments Derivative instruments are t ransacted in many trading portfolios, which generally include several types of instruments, not just derivatives. The market risk of derivatives is predominantly managed and controlled as an integral part of the market risk of these portfolios. The Group’s approach to market risk is described in the audited portions of “Market risk” in the “Risk management and control” section of this report. Derivative instruments are also transacted with many different counterparties, most of whom are also counterparties for other types of business. The credit risk of derivatives is managed and controlled in the context of the Group’s overall credit exposure to its counterparties. The Group’s approach to credit risk is described in the audited portions of “Credit risk” in the “Risk management and control” section of this report. It should be noted that, although the derivative financial assets shown on the balance sheet can be an important component of the Group’s credit exposure, the positive replacement values related to a respective counterparty are rarely an adequate reflection of the Group’s credit exposure in its derivatives business with that counterparty. This is generally the case because, on the one hand, replacement values can increase over time (potential future exposure), while on the other hand, exposure may be mitigated by entering into master netting agreements and bilateral collateral arrangements. Both the exposure measures used internally by the Group to control credit risk and the capital requirements impo sed by regulators reflect these additional factors. Refer to Note 25 fo r more information on derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrangements Derivative instruments ¹ , ² 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.7 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.7 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.6 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. The notional amount of a derivative is generally the quantity of the un derlying instrument on which the derivative contract is based and is the reference against which changes in the value of the derivative are measured. Notional values in themselves are generally not a direct indication of the values that are exchanged betwe en parties, and are therefore not a direct measure of risk or financial exposure but are viewed as an indication of the scale of the different types of derivatives entered into by the Group. On a notional value basis, approximately 5 6 % of OTC interest rate contracts held as of 31 December 2018 ( 31 December 2017 : 5 4 %) mature within one year, 28% ( 31 December 2017 : 2 8 %) within one to five years and 1 6 % ( 31 December 2017 : 1 8 %) after five years. Notional values of interest rate contracts cleared with a clearing house that qualify for IFRS balance sheet netting or are legally settled on a daily basis are presented under Other notional values and are categorized into maturity buckets on the basis of contractual maturities of the cl eared underlying derivative contracts. Derivatives transacted for sales and trading purposes Most of the Group’s derivative transactions relate to sales and trading activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making to directly support the facilitation and execution of client activity. Market-making involves quoting bid and offer prices t o other market participants with the intention of generating revenues based on spread and volume. Credit derivatives UBS is an active dealer in the fixed income market, including credit default swaps (CDS) and related products, with respect to a large numb er of issuers’ securities. The primary objectives of these activities are ongoing hedging of trading book exposures and market-making, primarily on behalf of clients. Market-making activity, which is undertaken within the Investment Bank, consists of buying and selling single-name CDS, index CDS, loan CDS and related referenced cash instruments to facilitate client trading activi ty. UBS also actively utilizes CDS to economically hedge specific counterparty credit risks in its accrual and traded loan portfolio s (including off-balance sheet loan commitments) with the aim of reducing concentrations in individual names, sectors or spe cific portfolios. In addition, UBS actively utilizes CDS to economically hedge specific counterparty credit risks in its OTC derivative portfolios, including financial instruments that are designated at fair value through profit or loss. The tables below provide more information on credit protection bought and sold, including replacement and notional value information by instrument type and counterparty type. The value of protection bought and sold is not, in isolation, a measure of UBS’s credit risk. Coun terparty relationships are viewed in terms of the total outstanding credit risk, which relates to other instruments in addition to CDS, and in connection with collateral arrangements in place. On a notio nal value basis, approximately 14 % of credit protecti on bought and sold as of 31 December 2018 matures within one year ( 31 December 2017 : 23%), approximately 74 % within one to five years ( 31 December 2017 : 6 5 %) and approximately 12% after five years ( 31 December 2017 : 12 %). Credit derivatives by type of instrument Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 0.6 43.3 0.5 1.0 44.9 Multi-name index-linked credit default swaps 0.3 0.3 29.1 0.3 0.2 24.4 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.1 Total rate of return swaps 0.2 0.7 4.7 0.0 0.0 2.0 Options and warrants 0.0 0.0 4.1 0.0 0.0 0.1 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 of which: credit derivatives related to economic hedges 0.9 1.3 59.2 0.5 1.1 48.9 of which: credit derivatives related to market-making 0.2 0.4 22.1 0.3 0.2 22.6 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.2 62.9 1.1 0.7 57.1 Multi-name index-linked credit default swaps 0.2 1.0 32.6 0.9 0.2 32.8 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.6 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.4 0.0 0.0 0.1 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 of which: credit derivatives related to economic hedges 0.8 2.5 83.7 1.6 0.9 72.3 of which: credit derivatives related to market-making 0.0 0.5 20.9 0.5 0.0 19.4 Credit derivatives by counterparty Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.1 13.0 0.1 0.2 11.5 Banks 0.4 0.4 29.2 0.3 0.5 25.6 Central clearing counterparties 0.2 0.4 31.9 0.4 0.3 30.8 Other 0.3 0.7 7.2 0.0 0.3 3.5 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.6 0.2 0.1 12.6 Banks 0.3 0.8 38.0 0.6 0.4 32.4 Central clearing counterparties 0.1 1.1 42.5 1.0 0.1 41.6 Other 0.3 0.9 7.4 0.3 0.2 5.0 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 UBS’s CDS trades are documented using industry standard forms of documentation or equivalent terms documented in a bespoke agreement. The agreements that govern CDS generally do not contain recourse provisions that would enable UBS to recover from third parties any amounts paid out by UBS. The types of credit events that would require UBS to perform under a CDS contract are subject to agreement between the parties at the time of the transaction. However, nearly all transactions are traded with reference to credit events that are applicable under certain market conventions based on the t ype of reference entity to which the transaction relates. Applicable credit events according to market conventions include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation / moratorium. Contingent collateral features of d erivative liabilities Certain derivative instruments contain contingent collateral or termination features triggered upon a downgrade of the published credit ratings of the Group in the normal course of business. Based on UBS’s credit ratings as of 31 December 2018 , USD 0.0 billion, USD 0.3 billion and USD 1.0 billion would have been required for contractual obligations related to OTC derivatives in the event of a one-notch, two-notch and three-notch reduction in long-term credit ratings, respectively. In evaluatin g UBS’s liquidity requirements, UBS considers additional collateral or termination payments that would be required in the event of a reduction in UBS’s long-term credit ratings, and a corresponding reduction in UBS’s short-term ratings. |
UBS AG | |
Derivative [Line Items] | |
Disclosure Of Derivative Financial Instruments Explanatory | Note 11 Derivative instruments Derivatives: overview A derivative is a financial instrument for which the value is derived from one or more variables (underlyings). Underlyings may be indices, foreign currency exchange or interest rates, or the value of shares, commodities, bonds or other financial instruments. A derivative commonly requires little or no initial net investment by either counterparty to the trade. The majority of derivative contracts are negotiated with respect to notional amounts, tenor, price and settlement mechanisms, as is customary with other financial instruments. Over-the-counter (OT C) derivative contracts are usually traded under a standardized International Swaps and Derivatives Association (ISDA) master agreement between UBS AG and its counterparties. Terms are negotiated directly with counterparties and the contracts have industry standard settlement mechanisms prescribed by ISDA. Beginning in 2016, regulators in various jurisdictions began a phased introduction of rules requiring the payment and collection of initial and variation margin on certain OTC derivative contracts, which may have a bearing on their price and other relevant terms. The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will generally facilitate the reduction of systemic cre dit exposures. Other derivative contracts are standardized in terms of their amounts and settlement dates, and are bought and sold on regulated exchanges. These are commonly referred to as exchange-traded derivatives (ETD) contracts. Exchanges offer the be nefits of pricing transparency, standardized daily settlement of changes in value and consequently reduced credit risk. For presentation purposes, UBS AG’s derivative contracts are subject to IFRS netting provisions. Derivative instruments are measured at fair value and generally classified on the balance sheet as Derivative financial instruments within Assets when having positive replacement values and Derivative financial instruments within Liabilities when havi ng negative replacement values. However, ETD that are economically settled on a daily basis and OTC derivatives that are either legally settled or in substance net settled on a daily basis are classified as Cash collateral receivables on derivative instruments or Cash collateral payables on derivati ve instruments . Changes in the replacement values of derivatives are recorded in Other net income from fair value changes on financial instruments, except for interest on derivatives designated as hedging instruments in effective hedge accounting relations hips and forward points on certain short - and long- duration foreign exchange contracts , which are recorded in Net interest income . Refer to Note 1 a item s 3j and 3 k for more information Refer to Note 25 fo r more information on derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrangements UBS AG uses various derivative instruments for both trading and hedging purposes. Derivative product types as well as valuation principles and techniques applied by UBS AG are described in Note 24 . Positive replacement values represent the estimated amount UBS AG would receive if the derivative contract were sold on the balance sheet date. Neg ative replacement values indicate the estimated amount UBS AG would pay to transfer its obligations in respect of the underlying contract were it required or entitled to do so on the balance sheet date. Derivatives embedded in other financial instruments a re not included in the “Derivative instruments” table within this Note. Bifurcated embedded derivatives are presented on the same balance sheet line as the host contract. In cases where UBS AG applies the fair value option to hybrid instruments, bifurcatio n of an embedded derivative component is not required and as such this component is also not included in the “Derivative instruments” table. Refer to Notes 19 and 24 for more information Risks of derivative instrum ents Derivative instruments are transacted in many trading portfolios, which generally include several types of instruments, not just derivatives. The market risk of derivatives is predominantly managed and controlled as an integral part of the market risk of these portfolios. UBS AG’s approach to market risk is described in the audited portions of “Market risk” in the “Risk management and control” section of this report. Derivative instruments are also transacted with many different counterparties, most of whom are also counterparties for other types of business. The credit risk of derivatives is managed and controlled in the context of UBS AG’s overall credit exposure to its counterparties. UBS AG’s approach to credit risk is described in the audited porti ons of “Credit risk” in the “Risk management and control” section of this report. It should be noted that, although the derivative financial assets shown on the balance sheet can be an important component of UBS AG’s credit exposure, the positive replaceme nt values related to a respective counterparty are rarely an adequate reflection of UBS AG’s credit exposure in its derivatives business with that counterparty. This is generally the case because, on the one hand, replacement values can increase over time (potential future exposure), while on the other hand, exposure may be mitigated by entering into master netting agreements and bilateral collateral arrangements. Both the exposure measures used internally by UBS AG to control credit risk and the capital re quirements imposed by regulators reflect these additional factors. Refer to Note 25 for more information on derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrange ments Derivative instruments¹ , ² 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.8 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.8 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 Derivative instruments (continued) 1,2 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.7 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. The notional amount of a derivative is generally the quantity of the underlying instrument on which the derivative contract is based and is the reference against which changes in the value of the derivative are measured. Notional values in themselves are generally not a direct indication of the values that are exchanged between parties, and are therefore not a direct measure of risk or financial exposure but are viewed as an indication of the scale of the different types o f derivatives entered into by UBS AG. On a notional value basis, approximately 5 6 % of OTC interest rate contracts held as of 31 December 2018 ( 31 December 2017 : 5 4 %) mature within one year, 28% ( 31 December 2017 : 2 8 %) within one to five years and 1 6 % ( 31 December 2017 : 1 8 %) after five ye ars. Notional values of interest rate contracts cleared with a clearing house that qualify for IFRS balance sheet netting or are legally settled on a daily basis are presented under Other notional values and are categorized into maturity buckets on the bas is of contractual maturities of the cleared underlying derivative contracts. Derivatives transacted for sales and trading purposes Most of UBS AG’s derivative transactions relate to sales and trading activities. Sales activities include the structuring an d marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making to directly support the facilitation and execution of client activity. Market-making invo lves quoting bid and offer prices to other market participants with the intention of generating revenues based on spread and volume. Credit derivatives UBS AG is an active dealer in the fixed income market, including credit default swaps (CDS) and related products, with respect to a large number of issuers’ securities. The primary objectives of these activities are ongoing hedging of trading book exposures and market making, primarily on behalf of clients. Market-making activity, which is undertaken within the Investment Bank, consists of buying and selling single-name CDS, index CDS, loan CDS and related referenced cash instruments to facilitate client trading activity. UBS AG also actively utilizes CDS to economically hedge specific counterparty credit risks in its accrual and traded loan portfolio s (including off-balance sheet loan commitments) with the aim of red ucing concentrations in individual names, sectors or specific portfolios. In addition, UBS AG actively utilizes CDS to economically hedge specific counterparty credit risks in its OTC derivative portfolios, including financial instruments that are designat ed at fair value through profit or loss. The tables below provide more information on credit protection bought and sold, including replacement and notional value information by instrument type and counterparty type. The value of protection bought and sold is not, in isolation, a measure of UBS AG’s credit risk. Counterparty relationships are viewed in terms of the total outstanding credit risk, which relates to other instruments in addition to CDS, and in connection with collateral arrangements in place. O n a notio nal value basis, approximately 14 % of credit protection bought and sold as of 31 December 2018 matures within one year ( 31 December 2017 : 23%), approximately 74 % within one to five years ( 31 December 2017 : 6 5 %) and approximately 12% after five years ( 31 December 2017 : 12 %). Credit derivatives by type of instrument Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 0.6 43.3 0.5 1.0 44.9 Multi-name index-linked credit default swaps 0.3 0.3 29.1 0.3 0.2 24.4 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.1 Total rate of return swaps 0.2 0.7 4.7 0.0 0.0 2.0 Options and warrants 0.0 0.0 4.1 0.0 0.0 0.1 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 of which: credit derivatives related to economic hedges 0.9 1.3 59.2 0.5 1.1 48.9 of which: credit derivatives related to market-making 0.2 0.4 22.1 0.3 0.2 22.6 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.2 62.9 1.1 0.7 57.1 Multi-name index-linked credit default swaps 0.2 1.0 32.6 0.9 0.2 32.8 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.6 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.4 0.0 0.0 0.1 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 of which: credit derivatives related to economic hedges 0.8 2.5 83.7 1.6 0.9 72.3 of which: credit derivatives related to market-making 0.0 0.5 20.9 0.5 0.0 19.4 Credit derivatives by counterparty Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.1 13.0 0.1 0.2 11.5 Banks 0.4 0.4 29.2 0.3 0.5 25.6 Central clearing counterparties 0.2 0.4 31.9 0.4 0.3 30.8 Other 0.3 0.7 7.2 0.0 0.3 3.5 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.6 0.2 0.1 12.6 Banks 0.3 0.8 38.0 0.6 0.4 32.4 Central clearing counterparties 0.1 1.1 42.5 1.0 0.1 41.6 Other 0.3 0.9 7.4 0.3 0.2 5.0 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 UBS AG’ s CDS trades are documented using industry standard forms of documentation or equivalent terms documented in a bespoke agreement. The agreements that govern CDS generally do not contain recourse provisions that would enable UBS AG to recover from third parties any amounts paid out by UBS A G . The types of credit events that would require UBS AG to perform under a CDS contract are subject to agreement between the parties at the time of the transaction. However, nearly all transactions are traded with reference to credit events that are appli cable under certain market conventions based on the type of reference entity to which the transaction relates. Applicable credit events according to market conventions include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiati on / moratorium. Contingent collateral features of derivative liabilities Certain derivative instruments contain contingent collateral or termination features triggered upon a downgrade of the published credit ratings of UBS AG in the normal course of business. Based on UBS AG ’s credit ratings as of 31 December 2018 , USD 0.0 billion, USD 0.3 billion and USD 1.0 billion would have been required for contractual obligations related to OTC derivatives in the event of a one-notch, two-notch and three-notch reduction in long-term credit ratings, respectively. In evaluating UBS AG’ s liquidity requirements, UBS AG considers additional collateral or termination payments that would be required in the event of a reduction in UBS AG ’ s long-term credit ratings, and a corresponding reduction in UBS AG’s short-term ratings. |
Financial assets and liabilitie
Financial assets and liabilities at fair value held for trading | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading Explanatory | Note 12 Financial assets and liabilities at fair value held for trading USD million 31.12.18 31.12.17 Financial assets at fair value held for trading 1 Government bills / bonds 11,161 13,186 Corporate and municipal bonds 6,768 8,785 Loans 3,566 3,946 Investment fund units 9,716 9,881 Asset-backed securities 392 377 Equity instruments 72,768 81,623 Financial assets for unit-linked investment contracts 2 11,609 Total financial assets at fair value held for trading 104,370 129,407 Financial liabilities at fair value held for trading 1 Government bills / bonds 2,839 5,549 Corporate and municipal bonds 3,530 3,629 Investment fund units 689 841 Equity instruments 21,886 21,230 Other 0 2 Total financial liabilities at fair value held for trading 28,943 31,251 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading Explanatory | Note 12 Financial assets and liabilities at fair value held for trading USD million 31.12.18 31.12.17 Financial assets at fair value held for trading 1 Government bills / bonds 11,161 13,186 Corporate and municipal bonds 6,908 8,886 Loans 3,566 3,946 Investment fund units 9,716 9,881 Asset-backed securities 392 377 Equity instruments 72,771 81,624 Financial assets for unit-linked investment contracts 2 11,609 Total financial assets at fair value held for trading 104,513 129,509 Financial liabilities at fair value held for trading 1 Government bills / bonds 2,839 5,549 Corporate and municipal bonds 3,530 3,629 Investment fund units 689 841 Equity instruments 21,892 21,230 Other 0 2 Total financial liabilities at fair value held for trading 28,949 31,251 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Financial assets at fair value
Financial assets at fair value not held for trading | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading [Line Items] | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading Explanatory | Note 13 Financial assets at fair value not held for trading USD million 31.12.18 31.12.17 Financial assets at fair value not held for trading 1 Government bills / bonds 22,493 26,633 Corporate and municipal bonds 17,236 22,022 Financial assets for unit-linked investment contracts 2 21,446 Loans 8,132 10,405 Securities financing transactions 3 9,937 298 Auction rate securities 4 1,664 Investment fund units 710 597 Equity instruments 5 702 Other 369 501 Total financial assets at fair value not held for trading 82,690 60,457 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Auction rate securities have been reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading [Line Items] | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading Explanatory | Note 13 Financial assets at fair value not held for trading USD million 31.12.18 31.12.17 Financial assets at fair value not held for trading 1 Government bills / bonds 22,493 26,633 Corporate and municipal bonds 17,236 22,022 Financial assets for unit-linked investment contracts 2 21,446 Loans 8,132 10,405 Securities financing transactions 3 9,937 298 Auction rate securities 4 1,664 Investment fund units 407 210 Equity instruments 5 702 Other 369 501 Total financial assets at fair value not held for trading 82,387 60,070 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Auction rate securities have been reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Financial assets measured at fa
Financial assets measured at fair value through OCI | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income [Line Items] | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income Explanatory | Note 14 Financial assets measured at fair value through other comprehensive income USD million 31.12.18 31.12.17 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,463 7,181 of which: USA 6,101 6,739 Banks 149 307 Corporates and other 54 842 Total debt instruments 6,667 8,330 Equity instruments 2 560 Total financial assets measured at fair value through other comprehensive income 6,667 8,889 Unrealized gains – before tax 4 221 Unrealized (losses) – before tax (146) (108) Net unrealized gains / (losses) – before tax (143) 114 Net unrealized gains / (losses) – after tax (104) 6 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement. 2 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income [Line Items] | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income Explanatory | Note 14 Financial assets measured at fair value through other comprehensive income USD million 31.12.18 31.12.17 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,463 7,181 of which: USA 6,101 6,739 Banks 149 307 Corporates and other 54 842 Total debt instruments 6,667 8,330 Equity instruments 2 560 Total financial assets measured at fair value through other comprehensive income 6,667 8,889 Unrealized gains – before tax 4 221 Unrealized (losses) – before tax (146) (108) Net unrealized gains / (losses) – before tax (143) 114 Net unrealized gains / (losses) – after tax (104) 6 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement. 2 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Property, equipment and softwar
Property, equipment and software | 12 Months Ended |
Dec. 31, 2018 | |
Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 15 Property, equipment and software At historical cost less accumulated depreciation USD million Own-used properties Leasehold improvements IT hardware and communications equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2018 2017 Historical cost Balance at the beginning of the year 7,923 3,375 1,615 4,266 432 861 1,050 19,522 17,842 Additions 1 21 20 182 1 50 21 1,406 1,702 1,638 Disposals / write-offs 2 (17) (386) (213) (108) (15) (111) 0 (849) (634) Reclassifications (174) 152 8 1,054 12 36 (1,283) (195) 7 (47) Foreign currency translation (74) (40) (25) (41) (9) (8) (16) (213) 724 Balance at the end of the year 7,679 3,122 1,568 5,173 469 799 1,157 19,966 19,522 Accumulated depreciation Balance at the beginning of the year 4,528 2,069 1,131 1,854 272 610 0 10,465 9,656 Depreciation 159 198 172 498 61 65 0 1,153 1,035 Impairment 3 0 2 3 66 4 0 0 75 18 Disposals / write-offs 2 (16) (380) (213) (108) (15) (108) 0 (840) (626) Reclassifications (129) 4 0 0 0 0 0 (124) 7 (5) Foreign currency translation (42) (21) (18) (18) (7) (6) 0 (111) 387 Balance at the end of the year 4,500 1,873 1,077 2,291 316 561 0 10,619 10,465 Net book value Net book value at the beginning of the year 3,394 1,306 483 2,412 159 251 1,050 9,057 8,186 Net book value at the end of the year 4,5 3,179 1,249 491 2,882 153 238 1,157 6 9,348 9,057 1 Includes USD 7 million additional assets related to acquisition of businesses in 2018. 2 Includes write-offs of fully depreciated assets. 3 Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. 4 As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). 5 Includes USD 26 million related to leased assets, mainly Own-used properties. 6 Consists of USD 803 million related to Internally generated software, USD 295 million related to Own-used properties and USD 59 million related to Leasehold improvements. 7 Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. |
UBS AG | |
Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 15 Property, equipment and software At historical cost less accumulated depreciation USD million Own-used properties Leasehold improvements IT hardware and communications equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2018 2017 Historical cost Balance at the beginning of the year 7,268 3,309 1,044 3,967 279 836 1,001 17,705 17,789 Additions 1 16 18 81 30 27 19 1,294 1,484 1,540 Disposals / write-offs 2 (14) (385) (111) (94) (11) (111) 0 (726) (2,293) Reclassifications (177) 135 0 1,009 11 32 (1,205) (195) 7 (47) Foreign currency translation (61) (36) (12) (33) (3) (7) (15) (166) 716 Balance at the end of the year 7,031 3,042 1,002 4,879 303 769 1,076 18,102 17,705 Accumulated depreciation Balance at the beginning of the year 4,171 2,045 747 1,763 188 599 0 9,514 9,638 Depreciation 139 189 105 456 35 61 0 984 930 Impairment 3 0 2 1 63 0 0 0 67 15 Disposals / write-offs 2 (14) (380) (111) (107) (11) (108) 0 (730) (1,445) Reclassifications (129) 4 1 0 0 0 0 (124) 7 (7) Foreign currency translation (36) (19) (10) (14) (3) (6) 0 (88) 383 Balance at the end of the year 4,132 1,842 733 2,161 209 546 0 9,623 9,514 Net book value Net book value at the beginning of the year 3,097 1,264 297 2,203 91 238 1,001 8,191 8,152 Net book value at the end of the year 4,5 2,900 1,200 269 2,718 93 223 1,076 6 8,479 8,191 1 Includes USD 7 million additional assets related to acquisition of businesses in 2018. 2 Includes write-offs of fully depreciated assets. 3 Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. 4 As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). 5 Includes USD 22 million related to leased assets, mainly Own-used properties. 6 Consists of USD 739 million related to Internally generated software, USD 279 million related to Own-used properties and USD 58 million related to Leasehold improvements. 7 Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Intangible Assets And Goodwill Explanatory | Note 16 Goodwill and intangible assets Introduction UBS performs an impairment test on its goodwill assets on an annual basis or when indicators of impairment exist. For annual tests prior to 2018, UBS considered the segments, as they were reported in Note 2a, as separate cash-generating units, as that was the level at which the performance of investments (and the related goodwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable s egment Global Wealth Management, UBS continued to separately monitor the goodwill previously allocated to the two former business divisions. As a consequence, for the purposes of goodwill impairment testing, the former Wealth Management and Wealth Manageme nt Americas business divisions are considered to be two separate cash-generat ing units, referred to in this N ote as Global Wealth Management Americas 1 and Global Wealth Management ex Americas. The remaining goodwill balances continued to be tested at the l evel of Asset Management and the Investment Bank, respectively, consistent with the 2017 annual test. The impairment test is performed for each cash-generating unit to which goodwill is allocated by comparing the recoverable amount, based on its value-in-u se, with the carrying amount of the respective cash-generating unit. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. As of 31 December 2018, total goodwill recognized on the balance sheet was USD 6.4 billion, of wh ich USD 3.7 billion was carried by the Global Wealth Management Americas cash- generating unit, USD 1.2 billion was carried by the Global Wea lth Management ex Americas cash- generating unit, USD 1.4 billion was carried by Asset Management and USD 0.1 billion was carried by the Investment Bank. Based on the impairment testing methodology described below, UBS concluded that the goodwill balances as of 31 December 2018 allocated to these cash-generating units are not impaired. Methodology for goodwill impairment testing The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a cash-generating unit is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support growth beyond this period. The ter minal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each cash-generating unit is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weig hted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Corporate Center – Group Asset and Liability Management manages centrally on behalf of the business divisions. The fra mework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a cash-generating unit requires to conduct its business and is currently considered a reasonable approximation of the carrying value of the cash-generating units. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective cash-gen erating unit. Refer to the “Capital management” section of this report for more information on the equity attribution framework Assumptions Valuation parameters used within the Group’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the B oard of Directors . T he discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. 1 Now including the Global Wealth Management business in Latin America, previously part of the Wealth Management business division Fo llowing the change of the Group’ s presentation currency to US dollars , UBS has refined its assumptions on long-term growth rates and discount rates. The discount rates now take into accou nt regional differences in risk- free rates, at the level of individual cash-gene rating units . Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on region. The change to nominal GDP forecasts for some regions results in higher long-term growth rates and thus higher recover able amounts for all cash-generating units . The change did not affect the outcome of the impairment test. Key assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying a reasonably possible ch ange to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, reasonably poss ible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. As of 31 December 20 18, the Investment Bank’s recoverable amount exceeded its carrying amount by USD 2.5 billion. A reasonably possible change in the forecast earnings or the discount rate used in the calculation of the Investment Bank’s recoverable amount would cause its car rying amount to exceed the recoverable amount. More specifically, if forecast earnings used in the calculation of the Investment Bank’s recoverable amount were reduced by approximately 12% or the discount rate increased by 1.4 percentage points, then the I nvestment Bank’s recoverable amount would be equal to its carrying amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expe cted on the Group’s capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.18 31.12.17 31.12.18 31.12.17 Global Wealth Management Americas 9.5 9.0 3.2 2.4 Global Wealth Management ex Americas 8.5 9.0 3.0 1.7 Asset Management 9.0 9.0 2.7 2.4 Investment Bank 11.0 11.0 3.5 2.4 Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2018 2017 Historical cost Balance at the beginning of the year 6,342 760 786 1,546 7,888 7,687 Additions 161 109 109 270 105 Disposals (40) (5) (5) (45) (63) Write-offs (7) (7) (7) 0 Foreign currency translation (71) (17) (17) (88) 160 Balance at the end of the year 6,392 760 865 1,625 8,018 7,888 Accumulated amortization and impairment Balance at the beginning of the year 653 672 1,325 1,325 1,245 Amortization 38 24 62 62 71 Impairment 2 4 4 4 0 Disposals (1) (1) (1) (16) Write-offs (7) (7) (7) 0 Foreign currency translation (12) (12) (12) 26 Balance at the end of the year 691 679 1,371 1,371 1,325 Net book value at the end of the year 6,392 68 186 254 6,647 6,563 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2018 and 2017 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: USD 18 million for 2018 and USD 0 million for 2017). The table below presents goodwill and intangible assets by cash-generating unit for the year ended 31 December 2018 . USD million Global Wealth Management Americas Global Wealth Management ex Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 3,742 1,148 35 1,418 6,342 Additions 79 82 0 161 Disposals (13) 0 (27) (40) Foreign currency translation (8) (21) (5) (37) (71) Balance at the end of the year 3,721 1,206 112 1,354 6,392 Intangible assets Balance at the beginning of the year 164 25 29 1 2 221 Additions / transfers 22 86 1 109 Disposals 0 (4) 0 (4) Amortization (44) (6) (10) (1) (2) (62) Impairment 0 0 (3) 0 (4) Foreign currency translation (4) 0 (1) 0 0 (5) Balance at the end of the year 138 104 11 0 1 254 The table below presents estimated aggregated amortization expenses for intangible assets. USD million Intangible assets Estimated, aggregated amortization expenses for: 2019 65 2020 52 2021 21 2022 21 2023 18 Thereafter 76 Not amortized due to indefinite useful life 2 Total 254 |
UBS AG | |
Disclosure Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Intangible Assets And Goodwill Explanatory | Note 16 Goodwill and intangible assets Introduction UBS AG performs an impairment test on its goodwill assets on an annual basis or when indicators of impairment exist. For annual tests prior to 2018, UBS AG considered the segments, as they were reported in Note 2a, as separate cash-generating units, as that was the level at which the performance of investments (and the related goodwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable s egment Global Wealth Management, UBS AG continued to separately monitor the goodwill previously allocated to the two former business divisions. As a consequence, for the purposes of goodwill impairment testing, the former Wealth Management and Wealth Manag ement Americas business divisions are considered to be two separate cash-generat ing units, referred to in this N ote as Glo bal Wealth Management Americas 1 and Global Wealth Management ex Americas. The remaining goodwill balances continued to be tested a t the level of Asset Management and the Investment Bank, respectively, consistent with the 2017 annual test. The impairment test is performed for each cash-generating unit to which goodwill is allocated by comparing the recoverable amount, based on its val ue-in-use, with the carrying amount of the respective cash-generating unit. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. As of 31 December 2018, total goodwill recognized on the balance sheet was USD 6.4 billion , of which USD 3.7 billion was carried by the Global Wealth Management Americas cash- generating unit, USD 1.2 billion was carried by the Global Wea lth Management ex Americas cash- generating unit, USD 1.4 billion was carried by Asset Management and USD 0.1 billion was carried by the Investment Bank. Based on the impairment testing methodology described below, UBS AG concluded that the goodwill balances as of 31 December 2018 allocated to these cash-generating units are not impaired. Methodology for goodwill impairment testing The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a cash-generating un it is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support growth beyond this period . The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each cash-generating unit is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their ris k-weighted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Corporate Center – Group Asset and Liability Management manages centrally on behalf of the business divisions. T he framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a cash-generating unit requires to conduct its business and is currently consi dered a reasonable approximation of the carrying value of the cash-generating units. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective ca sh-generating unit. Refer to the “Capital management” section of this report for more information on the equity attribution framework Assumptions Valuation parameters used within UBS AG ’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The ap plied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the B oard of Directo rs . The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. 1 Now including the Global Wealth Management business in Latin America, previously part of the Wealth Management business division. Following the change of UBS AG’ s presentation currency to US dollars , UBS AG has refined its assumptions on long-term growth rates and discount rates. The discount rates now take into account regional differences in risk free rates, at the level of indivi dual cash- generating unit s . Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on region. The change to nominal GDP forecasts for some regions results in higher long-term growth rates and thus higher recoverable amounts for all cash- generating unit s . The change did not affect the outcome of the impairment test. Key assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying a reasonab ly possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, r easonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. As of 31 December 2018, the Investment Bank’s recoverable amount exceeded its carrying amount by USD 2.5 billion. A reasonably possible change in the forecast earnings or the discount rate used in the calculation of the Investment Bank’s recoverable amount would cause its carrying amount to exceed the recoverable amount. More specifically, i f forecast earnings used in the calculation of the Investment Bank ’s recoverable amount were reduced by approximately 12 % or th e discount rate increased by 1.4 percentage points, then the Investment Bank’s recoverable amount would be equal to its carrying amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the fu ture, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital fram ework, no effect would be expected on UBS AG’s capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.18 31.12.17 31.12.18 31.12.17 Global Wealth Management Americas 9.5 9.0 3.2 2.4 Global Wealth Management ex Americas 8.5 9.0 3.0 1.7 Asset Management 9.0 9.0 2.7 2.4 Investment Bank 11.0 11.0 3.5 2.4 Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2018 2017 Historical cost Balance at the beginning of the year 6,342 760 786 1,546 7,888 7,687 Additions 161 109 109 270 105 Disposals (40) (5) (5) (45) (63) Write-offs (7) (7) (7) 0 Foreign currency translation (71) (17) (17) (88) 160 Balance at the end of the year 6,392 760 865 1,625 8,018 7,888 Accumulated amortization and impairment Balance at the beginning of the year 653 672 1,325 1,325 1,245 Amortization 38 24 62 62 71 Impairment 2 4 4 4 0 Disposals (1) (1) (1) (16) Write-offs (7) (7) (7) 0 Foreign currency translation (12) (12) (12) 26 Balance at the end of the year 691 679 1,371 1,371 1,325 Net book value at the end of the year 6,392 68 186 254 6,647 6,563 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2018 and 2017 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: USD 18 million for 2018 and USD 0 million for 2017). The table below presents goodwill and intangible assets by cash-generating unit for the year ended 31 December 2018 . USD million Global Wealth Management Americas Global Wealth Management ex Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 3,742 1,148 35 1,418 6,342 Additions 79 82 0 161 Disposals (13) 0 (27) (40) Foreign currency translation (8) (21) (5) (37) (71) Balance at the end of the year 3,721 1,206 112 1,354 6,392 Intangible assets Balance at the beginning of the year 164 25 29 1 2 221 Additions / transfers 22 86 1 109 Disposals 0 (4) 0 (4) Amortization (44) (6) (10) (1) (2) (62) Impairment 0 0 (3) 0 (4) Foreign currency translation (4) 0 (1) 0 0 (5) Balance at the end of the year 138 104 11 0 1 254 The table below presents estimated aggregated amortization expenses for intangible assets. USD million Intangible assets Estimated, aggregated amortization expenses for: 2019 65 2020 52 2021 21 2022 21 2023 18 Thereafter 76 Not amortized due to indefinite useful life 2 Total 254 |
Other financial and non-financi
Other financial and non-financial assets | 12 Months Ended |
Dec. 31, 2018 | |
Other Financial And Non Financial Assets [Line Items] | |
Other Financial And Non Financial Assets Explanatory [textblock] | Note 17 Other assets a) Other financial assets measured at amortized cost USD million 31.12.18 31.12.17 Prime brokerage receivables 1 19,573 Debt securities 13,562 9,403 of which: government bills / bonds 8,778 6,632 Loans to financial advisors 2 3,291 3,199 Fee- and commission-related receivables 1,643 1,826 Finance lease receivables 1,091 1,086 Settlement and clearing accounts 1,050 735 Accrued interest income 694 592 Other 1,233 1,401 Total other financial assets measured at amortized cost 22,563 37,815 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. 2 Related to financial advisors in the US and Canada. b) Other non-financial assets USD million 31.12.18 31.12.17 Precious metals and other physical commodities 4,298 4,681 Bail deposit 1 1,312 1,371 Prepaid expenses 990 1,039 VAT and other tax receivables 334 368 Properties and other non-current assets held for sale 82 98 Other 395 273 Total other non-financial assets 7,410 7,830 1 Refer to item 1 in Note 21b for more information. |
UBS AG [Member] | |
Other Financial And Non Financial Assets [Line Items] | |
Other Financial And Non Financial Assets Explanatory [textblock] | Note 17 Other assets a) Other financial assets measured at amortized cost USD million 31.12.18 31.12.17 Prime brokerage receivables 1 19,573 Debt securities 13,562 9,403 of which: government bills / bonds 8,778 6,632 Loans to financial advisors 2 3,291 3,199 Fee- and commission-related receivables 1,644 1,794 Finance lease receivables 1,091 1,086 Settlement and clearing accounts 1,039 734 Accrued interest income 700 593 Other 1,310 1,508 Total other financial assets measured at amortized cost 22,637 37,890 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. 2 Related to financial advisors in the US and Canada. b) Other non-financial assets USD million 31.12.18 31.12.17 Precious metals and other physical commodities 4,298 4,681 Bail deposit 1 1,312 1,371 Prepaid expenses 731 840 VAT and other tax receivables 282 299 Properties and other non-current assets held for sale 82 98 Other 358 258 Total other non-financial assets 7,062 7,548 1 Refer to item 1 in Note 21b for more information. |
Amounts due to banks and custom
Amounts due to banks and customer deposits | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 18 Amounts due to banks and customer deposits USD million 31.12.18 31.12.17 Amounts due to banks 10,962 7,728 Customer deposits 419,838 419,577 of which: demand deposits 181,869 193,457 of which: retail savings / deposits 165,790 166,013 of which: time deposits 53,624 48,617 of which: fiduciary deposits 18,556 11,490 Total amounts due to banks and customer deposits 430,801 427,305 |
UBS AG | |
Disclosure Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | Note 18 Amounts due to banks, customer deposits, and funding from UBS Group AG and its subsidiaries a) Amounts due to banks and customer deposits USD million 31.12.18 31.12.17 Amounts due to banks 10,962 7,728 Customer deposits 421,986 423,058 of which: demand deposits 182,642 195,264 of which: retail savings / deposits 165,790 166,013 of which: time deposits 54,998 50,291 of which: fiduciary deposits 18,556 11,490 Total amounts due to banks and customer deposits 432,948 430,786 |
Debt issued designated at fair
Debt issued designated at fair value | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Financial Instruments Designated At Fair Value Through Profit Or Loss Explanatory | Note 19 Debt issued designated at fair value USD million 31.12.18 31.12.17 Issued debt instruments Equity-linked 1 34,392 35,046 Rates-linked 12,073 5,961 Credit-linked 3,282 3,013 Fixed-rate 5,099 4,022 Other 2,185 2,740 Total debt issued designated at fair value 57,031 50,782 of which: issued by UBS AG with original maturity greater than one year 2 40,289 38,230 of which: life-to-date own credit (gain) / loss (270) 163 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. More than 99% of the balance as of 31 December 2018 was unsecured (31 December 2017: more than 99% of the balance was unsecured). As of 31 December 2018 and 31 December 2017 , the contractual redemption amount at maturity of debt issued designated at fair value through profit or loss was not m aterially different from the carrying value. The table below shows the residual contractual maturity of the carrying value of debt issued designated at fair value, split between fixed-rate and floating-rate instruments based on the contractual terms, and d oes not consider any early redemption features. Interest rate ranges for future interest payments related to debt issued designated at fair value have not been included in the table below as a majority of the debt instruments issued are structured products , and therefore the future interest payments are highly dependent upon the embedded derivative and prevailing market conditions at the point in time that each interest payment is made. Refer to Note 27 for matur ity information on an undiscounted cash flow basis Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 3,904 1,509 1,178 447 274 802 3,694 11,807 9,664 Floating-rate 19,921 4,669 3,947 1,610 2,758 5,544 5,113 43,562 39,063 Subtotal 23,825 6,178 5,126 2,057 3,031 6,346 8,807 55,370 48,728 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 25 66 7 0 321 6 1,230 1,437 Floating-rate 13 119 83 6 26 0 183 431 617 Subtotal 818 145 149 13 26 321 189 1,662 2,054 Total 24,643 6,322 5,275 2,070 3,058 6,668 8,996 57,031 50,782 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Financial Instruments Designated At Fair Value Through Profit Or Loss Explanatory | Note 19 Debt issued designated at fair value USD million 31.12.18 31.12.17 Issued debt instruments Equity-linked 1 34,392 35,046 Rates-linked 12,073 5,961 Credit-linked 3,282 3,013 Fixed-rate 5,099 4,022 Other 2,185 2,740 Total debt issued designated at fair value 57,031 50,782 of which: issued by UBS AG with original maturity greater than one year 2 40,289 38,230 of which: life-to-date own credit (gain) / loss (270) 163 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. More than 99% of the balance as of 31 December 2018 was unsecured (31 December 2017: more than 99% of the balance was unsecured). As of 31 December 2018 and 31 December 2017 , the contractual redemption amount at maturity of debt issued designated at fair value through profit or loss was not m aterially different from the carrying value. The table below shows the residual contractual maturity of the carrying value of debt issued designated at fair value, split between fixed-rate and floating-rate instruments based on the contractual terms, and d oes not consider any early redemption features. Interest rate ranges for future interest payments related to debt issued designated at fair value have not been included in the table below as a majority of the debt instruments issued are structured products , and therefore the future interest payments are highly dependent upon the embedded derivative and prevailing market conditions at the point in time that each interest payment is made. Refer to Note 27 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 3,904 1,509 1,178 447 274 802 3,694 11,807 9,664 Floating-rate 19,921 4,669 3,947 1,610 2,758 5,544 5,113 43,562 39,063 Subtotal 23,825 6,178 5,126 2,057 3,031 6,346 8,807 55,370 48,728 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 25 66 7 0 321 6 1,230 1,437 Floating-rate 13 119 83 6 26 0 183 431 617 Subtotal 818 145 149 13 26 321 189 1,662 2,054 Total 24,643 6,322 5,275 2,070 3,058 6,668 8,996 57,031 50,782 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued measured at amortiz
Debt issued measured at amortized cost | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Debt Securities Explanatory | Note 20 Debt issued measured at amortized cost USD million 31.12.18 31.12.17 Certificates of deposit 7,980 24,447 Commercial paper 27,514 24,140 Other short-term debt 3,531 3,683 Short-term debt 1 39,025 52,270 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 29,988 27,937 Senior unsecured debt other than TLAC 33,018 33,102 of which: issued by UBS AG with original maturity greater than one year 2 32,133 33,090 Covered bonds 3,947 4,218 Subordinated debt 17,665 16,983 of which: high-trigger loss-absorbing additional tier 1 capital instruments 7,785 5,321 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,369 2,445 of which: low-trigger loss-absorbing tier 2 capital instruments 6,808 8,500 of which: non-Basel III-compliant tier 2 capital instruments 703 718 Debt issued through the Swiss central mortgage institutions 8,569 8,561 Other long-term debt 58 89 of which: issued by UBS AG with original maturity greater than one year 2 52 68 Long-term debt 3 93,246 90,890 Total debt issued measured at amortized cost 4 132,271 143,160 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. The Group uses interest rate and foreign exchange derivatives to manage the risks inherent in certain debt instruments held at amortized cost. In certain cases, the Group applies hedge accounting for interest rate risk as discussed in Note 1 a item 3j and Note 28 . As a result of applying hedge accounting, the life-to-date adjustment to the carrying value of debt issued was a decrease of USD 298 million as of 31 December 2018 and an increase of USD 35 million as of 31 December 2017 , reflecting changes in fair value due to interest rate movements. Subordinated debt consists of unsecured debt obligations that are contractually subordinated in right of payment to all other present and future non-subordinated obligations of the respective issuing entity. All of the subordinat ed debt instruments outstanding as of 31 December 2018 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying value of debt issued, split between fixed-rate and floating-rate based on the contractual terms, and does not consider any early redemption features. The effects from interest rate swaps, which are used to hedge various fixed-rate debt issuances by changing the repricing characteristics into those similar to floating-rate debt, are also not considered in the t able below. Refer to Note 27 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS Group AG 1 Subordinated debt Fixed-rate 7,766 4 Subtotal 0 0 0 0 0 0 0 0 7,766 UBS AG 2 Non-subordinated debt Fixed-rate 21,287 9,397 4,078 2,726 1,635 0 985 40,108 57,566 Floating-rate 25,450 6,482 1,964 0 369 0 770 35,035 31,930 Subordinated debt Fixed-rate 0 0 0 1,945 0 5,566 0 7,511 9,217 Subtotal 46,737 15,879 6,042 4,671 2,005 5,566 1,755 82,654 98,714 Other subsidiaries 3 Non-subordinated debt Fixed-rate 765 2,200 2,955 4,512 4,882 17,569 646 33,529 30,561 Floating-rate 0 300 998 2,506 2,128 0 0 5,933 6,120 Subordinated debt Fixed-rate 0 0 0 0 0 0 10,154 10,154 4 0 Subtotal 765 2,500 3,953 7,017 7,011 17,569 10,801 49,616 36,681 Total 47,502 18,379 9,994 11,688 9,015 23,135 12,556 132,271 143,160 1 Comprises debt issued by the legal entity UBS Group AG. 2 Comprises debt issued by the legal entity UBS AG. 3 Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. 4 Originally issued by UBS Group AG, which was replaced by UBS Group Funding (Switzerland) AG as issuer on 25 May 2018. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Debt Securities Explanatory | Note 20 Debt issued measured at amortized cost USD million 31.12.18 31.12.17 Certificates of deposit 7,980 24,447 Commercial paper 27,514 24,140 Other short-term debt 3,531 3,683 Short-term debt 1 39,025 52,270 Senior unsecured debt 32,135 33,102 of which: issued by UBS AG with original maturity greater than one year 2 32,133 33,090 Covered bonds 3,947 4,218 Subordinated debt 7,511 9,217 of which: low-trigger loss-absorbing tier 2 capital instruments 6,808 8,500 of which: non-Basel III-compliant tier 2 capital instruments 703 718 Debt issued through the Swiss central mortgage institutions 8,569 8,561 Other long-term debt 58 89 of which: issued by UBS AG with original maturity greater than one year 2 52 68 Long-term debt 3 52,220 55,187 Total debt issued measured at amortized cost 4 91,245 107,458 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). 3 Debt with an original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. UBS AG uses interest rate and foreign exchange derivatives to manage the risks inherent in certain debt instruments held at amortized cost. In cer tain cases, UBS AG applies hedge accounting for interest rate risk as discussed in Note 1 a item 3j and Note 28. As a result of applying hedge accounting, the life-to-date adjustment to the carrying value of debt issued was a n in crease of USD 282 million as of 31 December 2018 and an increase of USD 493 million as of 31 December 2017 , reflecting changes in fair value due to interest rate movements. Subordinated debt consists of unsecured debt obligations that are contractually subordinated in right of payment to all other present and future non-subordinated obligations of the respective issuing entity. All of the subordinat ed debt instruments outstanding as of 31 December 2018 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying value of debt issued, split between fixed-rate and floating-rate based on the contractual terms, and does not consider any early redemption features. The effects from interest rate swaps, which are used to hedge various fixed-rate debt issuances by changing the repricing characteristics into those similar to floating-rate debt, are also not considered in the t able below. Refer to Note 27 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value USD million, except where indicated 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 21,287 9,397 4,078 2,726 1,635 0 985 40,108 57,694 Floating-rate 25,450 6,482 1,964 0 369 0 770 35,035 31,930 Subordinated debt Fixed-rate 0 0 0 1,945 0 5,566 0 7,511 9,217 Subtotal 46,737 15,879 6,042 4,671 2,005 5,566 1,755 82,654 98,841 Other subsidiaries 2 Non-subordinated debt Fixed-rate 765 734 1,016 845 937 3,647 646 8,590 8,616 Floating-rate 0 0 0 0 0 0 0 0 1 Subtotal 765 734 1,016 845 937 3,647 646 8,591 8,617 Total 47,502 16,613 7,057 5,517 2,942 9,213 2,402 91,245 107,458 1 Comprises debt issued by the legal entity UBS AG. 2 Comprises debt issued by subsidiaries of UBS AG. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Provisions [Line Items] | |
Disclosure Of Provisions Explanatory | Note 21 Provisions and contingent liabilities a) Provisions The table below presents an overview of total provisions recognized under both IAS 37 and IFRS 9. USD million 31.12.18 31.12.17 Provisions recognized under IAS 37 3,377 3,180 Provisions for off-balance sheet financial instruments 1 79 34 Provisions for other credit lines 1 37 0 Total provisions 3,494 3,214 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. The following table presents additional information for provisions recognized under IAS 37. USD million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Real estate Employee benefits 5 Other Total 2018 Total 2017 Balance at the beginning of the year 44 2,508 331 137 70 91 3,180 4,048 Additions from acquired companies 0 0 0 2 0 0 2 7 Increase in provisions recognized in the income statement 27 905 174 4 10 35 1,155 1,004 Release of provisions recognized in the income statement (5) (220) (65) (1) (7) (14) (311) (347) Provisions used in conformity with designated purpose (20) (350) (214) (10) 0 (33) (628) (1,632) Capitalized reinstatement costs 0 0 0 1 0 0 1 8 Foreign currency translation / unwind of discount 0 (16) (1) (1) (2) (1) (21) 94 Balance at the end of the year 46 2,827 224 3 131 4 70 78 3,377 3,180 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of USD 50 million as of 31 December 2018 (31 December 2017: USD 85 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). 4 Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2018 (31 December 2017: USD 95 million) and provisions for onerous lease contracts of USD 42 million as of 31 December 2018 (31 December 2017: USD 42 million). 5 Includes provisions for sabbatical and anniversary awards. Restructuring provisions primarily relate to onerous lease contracts and severance payments. The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period , usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. Information on provisions and contingent liabilities in r espect of litigation, regulatory and similar matters, as a class, is included in Note 21b. There are no material contingent liabilities associated with the other classes of provisions. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Disclosure Of Provisions Explanatory | Note 21 Provisions and contingent liabilities a) Provisions The table below presents an overview of total provisions recognized under both IAS 37 and IFRS 9. USD million 31.12.18 31.12.17 Provisions recognized under IAS 37 3,341 3,130 Provisions for off-balance sheet financial instruments 1 79 34 Provisions for other credit lines 1 37 0 Total provisions 3,457 3,164 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. The following table presents additional information for provisions recognized under IAS 37. USD million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Real estate Employee benefits 5 Other Total 2018 Total 2017 Balance at the beginning of the year 44 2,508 302 128 57 91 3,130 4,043 Additions from acquired companies 0 0 0 2 0 0 2 7 Increase in provisions recognized in the income statement 25 905 142 4 8 34 1,117 956 Release of provisions recognized in the income statement (5) (220) (54) (1) (7) (14) (301) (338) Provisions used in conformity with designated purpose (20) (350) (173) (11) 0 (33) (587) (1,598) Capitalized reinstatement costs 0 0 0 0 0 0 0 4 Reclassifications 0 0 0 0 0 0 0 (35) Foreign currency translation / unwind of discount 0 (16) (1) 0 (2) (1) (20) 91 Balance at the end of the year 45 2,827 215 3 122 4 55 77 3,341 3,130 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2018 (31 December 2017: USD 56 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). 4 Consists of reinstatement costs for leasehold improvements of USD 83 million as of 31 December 2018 (31 December 2017: USD 89 million) and provisions for onerous lease contracts of USD 40 million as of 31 December 2018 (31 December 2017: USD 40 million). 5 Includes provisions for sabbatical and anniversary awards. Restructuring provisions primarily relate to onerous lease contracts and severance payments. The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period, usually within six months, but potential changes in amount may be t riggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. Information on provisions and contingent liabilities in respect of litigation, regulatory and similar matters, as a class, is included in Note 21b. There are no material contingent liabilities associated with the other classes of provisions. |
Litigation, regulatory and simi
Litigation, regulatory and similar matters | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | b) Litigation, regulatory and similar mat ters The Group operates in a legal and regulatory environment that exposes it to significant litigation and similar risks arising from disputes and regulatory proceedings. As a result, UBS (which for purposes of this Note may refer t o UBS Group AG and / or one or more of its subsidiaries, as applicable) is involved in various disputes and legal proceedings, including litigation, arbitration, and regulatory and criminal investigations. Such matters are subject to many uncertainties, an d the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group may enter into a settlement agreement. This may occur in order to avoid the expense, manageme nt distraction or reputational implications of continuing to contest liability, even for those matters for which the Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflo ws for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely tha n not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent li abilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. Developments relating to a matter that occur after the relevant reporting period, but prior to the issuance of financial statements, which affect management’s assessment of the provision for such matter (because, for e xample, the developments provide evidence of conditions that existed at the end of the reporting period), are adjusting events after the reporting period under IAS 10 and must be recognized in the financial statements for the reporting period. Specific litigation, regulatory and other matters are described below, including all such matters that management considers to be mat erial and others that management believes to be of significance due to potential financial, reputational and other effects. The amount of damages claimed, the size of a transaction or other information is provided where available and appropriate in order t o assist users in considering the magnitude of potential exposures. In the cas e of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclos ure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard; or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflo w of resources to be probable and reliably estimable. With respect to certain litigation, regulatory and similar matters for which we have established provisions, we are able to estimate the expected timing of outflows. However, the aggregate amount of the expected outflows for those matters for which we are able to estimate expected timing is immaterial relative to our current and expected levels of liquidity over the relevant time periods. The aggregate amount provisioned for litigation, regulatory and si milar matters as a class is disclosed in the “Provisions” table in Note 21a above. It is not practicable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would r equire us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class th at are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the non-prosecution agreement described in item 5 of this No te, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIB OR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subje ct to probation through January 2020 . A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operation s, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or an y limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. The risk of loss associated with litigation, regulatory and similar matters is a component of operational risk for purposes of determining our capital requirements. Information concerning our capital requirements and the calculation of operational risk for this purpose is included in the “Capital management” section of this report. Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 2018 Total 2017 Balance at the beginning of the year 569 81 1 354 246 0 1,256 2,508 3,204 Increase in provisions recognized in the income statement 659 41 0 83 32 0 90 905 703 Release of provisions recognized in the income statement (33) (1) (1) (146) (38) 0 0 (220) (214) Provisions used in conformity with designated purpose (184) (3) 0 (18) (1) 0 (143) (350) (1,251) Foreign currency translation / unwind of discount (9) (1) 0 (3) (2) 0 (1) (16) 66 Balance at the end of the year 1,003 117 0 269 236 0 1,202 2,827 2,508 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 1. Inquiries regarding cross-border wealth management businesses Tax and regulatory authorities in a number of countries have made inquiries, served requests for information or examined employees located in their re spective jurisdictions relating to the cross-border wealth management services provided by UBS and other financial institutions. It is possible that the implementation of automatic tax information exchange and other measures relating to cross-border provis ion of financial services could give rise to further inquiries in the future. UBS has received disclosure orders from the Swiss Federal Tax Administration (FTA) to transfer information based on requests for international administrative assistance in tax ma tters. The requests concern a number of UBS account numbers pertaining to current and former clients and are based on data from 2006 and 2008. UBS has taken steps to inform affected clients about the administrative assistance proceedings and their procedur al rights, including the right to appeal. The requests are based on data received from the German authorities, who seized certain data related to UBS clients booked in Switzerland during their investigations and have apparently shared this data with other European countries. UBS expects additional countries to file similar requests. The Swiss Federal Administrative Court ruled in 2016 that, in the administrative assistance proceedings related to a French bulk request, UBS has the right to appeal all final FTA client data disclosure orders. On 30 July 2018, the Swiss Federal Administrative Court granted UBS’s appeal by holding the French administrative assistance request inadmissible. The FTA filed a final appeal with the Swiss Federal Supreme Court. Since 2 013, UBS (France) S.A., UBS AG and certain former employees have been under investigation in France for alleged complicity in having illicitly solicited clients on French territory, regarding the laundering of proceeds of tax fraud, and of banking and fina ncial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“caution”) of EUR 1.1 billion and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal to E UR 10 million. In March 2017, the investigating judges issued a trial order (“ordonnance de renvoi”) that charges UBS AG and UBS (France) S.A., as well as various former employees, with illicit solicitation of clients on French territory and with participa tion in the laundering of the proceeds of tax fraud. The trial on these charges in the court of first instance took place from 8 October 2018 until 15 November 2018. During the trial, the prosecutors and the French State requested penalties and civil monet ary damages in connection with the money laundering charges aggregating EUR 5.3 billion. On 20 February 2019 , the court announced a verdict finding UBS AG guilty of illicitly soliciting clients on French territory and laundering the proceeds of tax fraud, and UBS France S.A. guilty of aiding and abetting unlawful solicitation and laundering the proceeds of tax fraud. The court imposed fines aggregating EUR 3.7 billion on UBS AG and UBS France S.A. and awarded EUR 800 million of civil damages to the French s tate. UBS has appealed the decision. Under French law, the judgment is suspended while the appeal is pending. The Court of Appeal will retry the case de novo as to both the law and the facts and the fines and penalties can be greater than or less than thos e imposed by the court of first instance. A subsequent appeal to the Cour de Cassation, France ’ s highest court, is possible with respect to questions of law. UBS believes that based on both the law and the facts the judgment of the court of first instance should be reversed . UBS believes i t followed its obligations under Swiss and French law as well as the European Savings Tax Directive. Even assuming liability, which it contests, UBS believes the penalties and damage amounts awarded greatly exceeded the amounts that could be supported by t he law and the facts. In particular, UBS believes the court incorrectly based the penalty on the total regularized assets rather than on any unpaid taxes on those assets for wh ich a fraud has been characteriz ed, and further incorrectly awarded damages base d on costs that were not proven by the civil party. Notwithstanding that UBS believes it should be acquitted, our balance sheet at 31 December 2018 reflected provisions with respect to this matter in an amount of USD 516 million. The wide range of possible outcomes in this case contributes to a high degree of estimation uncertainty . T he provision reflected on our balance sheet at 31 December 2018 reflects our best estimate of possible financial implications , although it is reasonably possible that actual pe nalties and civil damages could exceed the provision amount . In 2016, UBS was notified by the Belgian investigating judge that it is under formal investigation (“inculpé”) regarding the laundering of proceeds of tax fraud, of banking and financial solicita tion by unauthorized persons, and of serious tax fraud. In 2018, tax authorities and a prosecutor’s office in Italy asserted that UBS is potentially liable for taxes and penalties as a result of its activities in Italy from 2012 to 2017. UBS has, and repor tedly numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Fédération Internationale de Football Association (FIFA) and other constituent soccer associations and related persons and entities. U BS is cooperating with authorities in these inquiries. Our balance sheet at 31 December 2018 reflected provisions with respect to matters described in this item 1 in an amount that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be subst antially greater (or may be less) than the provision that we have recognized. 2. Claims related to sales of residential mortgage-backed securities and mortgages From 2002 through 2007, prior to the crisis in the US residential loan market, UBS was a substantial issuer and underwriter of US residential mortgage-backed securities (RMBS) and was a purchaser and sel ler of US residential mortgages. A subsidiary of UBS, UBS Real Estate Securities Inc. (UBS RESI), acquired pools of residential mortgage loans from originators and (through an affiliate) deposited them into securitization trusts. In this manner, from 2004 through 2007, UBS RESI sponsored approximately USD 80 billion in RMBS, based on the original principal balances of the securities issued. UBS RESI also sold pools of loans acquired from originators to third-party purchasers. These whole loan sales during t he period 2004 through 2007 totaled approximately USD 19 billion in original principal balance. UBS was not a significant originator of US residential loans. A branch of UBS originated approximately USD 1.5 billion in US residential mortgage loans during t he period in which it was active from 2006 to 2008, and securitized less than half of these loans. Lawsuits related to contractual representations and warranties concerning mortgages and RMBS: When UBS acted as an RMBS sponsor or mortgage seller, it genera lly made certain representations relating to the characteristics of the underlying loans. In the event of a material breach of these representations, UBS was in certain circumstances contractually obligated to repurchase the loans to which the representati ons related or to indemnify certain parties against losses. In 2012, certain RMBS trusts filed an action in the US District Court for the Southern District of New York seeking to enforce UBS RESI’s obligation to repurchase loans in the collateral pools for three RMBS securitizations issued and underwritten by UBS with an original principal balance of approximately USD 2 billion. In July 2018, UBS and the trustee entered into an agreement under which UBS will pay USD 850 million to resolve this matter. A sig nificant portion of this amount will be borne by other parties that indemnified UBS. The settlement remains subject to court approval and proceedings to determine how the settlement funds will be distributed to RMBS holders. After giving effect to this set tlement, UBS considers claims relating to substantially all loan repurchase demands to be resolved, and believes that new demands to repurchase US residential mortgage loans are time-barred under a decision rendered by the New York Court of Appeals. Mortga ge-related regulatory matters: Since 2014, the US Attorney’s Office for the Eastern District of New York has sought information from UBS pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), related to UBS’s RMBS bus iness from 2005 through 2007. On 8 November 2018, the DOJ filed a civil complaint in the District Court for the Eastern District of New York. The complaint seeks unspecified civil monetary penalties under FIRREA related to UBS’s issuance, underwriting and sale of 40 RMBS transactions in 2006 and 2007. UBS moved to dismiss the civil complaint on 6 February 2019. Our balance sheet at 31 December 2018 reflected a provision with respect to matters described in this item 2 in an amount that UBS believes to be a ppropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of this matter cannot be determined with certainty based on currently available inform ation and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that we have recognized. 3. Madoff In relation to the Bernard L. Madoff Investment Securities LLC (BMIS) investment fraud, UBS AG, UBS (Luxembourg) S .A. (now UBS Europe SE, Luxembourg branch) and certain other UBS subsidiaries have been subject to inquiries by a number of regulators, including the Swiss Financial Market Supervisory Authority (FINMA) and the Luxembourg Commission de Surveillance du Sect eur Financier. Those inquiries concerned two third-party funds established under Luxembourg law, substantially all assets of which were with BMIS, as well as certain funds established in offshore jurisdictions with either direct or indirect exposure to BMI S. These funds faced severe losses, and the Luxembourg funds are in liquidation. The documentation establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indicates that U BS employees serve as board members. In 2009 and 2010, the liquidators of the two Luxembourg funds filed claims against UBS entities, non-UBS entities and certain individuals, including current and former UBS employees, seeking amounts totaling approximate ly EUR 2.1 billion, which includes amounts that the funds may be held liable to pay the trustee for the liquidation of BMIS (BMIS Trustee). A large number of alleged beneficiaries have filed claims against UBS entities (and non-UBS entities) for purported losses relating to the Madoff fraud. The majority of these cases have been filed in Luxembourg, where decisions that the claims in eight test cases were inadmissible have been affirmed by the Luxembourg Court of Appeal, and the Luxembourg Supreme Court has dismissed a further appeal in one of the test cases. In the US, the BMIS Trustee filed claims against UBS entities, among others, in relation to the two Luxembourg funds and one of the offshore funds. The total amount claimed against all defendants in th ese actions was not less than USD 2 billion. In 2014, the US Supreme Court rejected the BMIS Trustee’s motion for leave to appeal decisions dismissing all claims except those for the recovery of fraudulent conveyances and preference payments. In 2016, the bankruptcy court dismissed the remaining claims against the UBS entities. The BMIS Trustee appealed. 4. Puerto Rico Declines since 2013 in the market prices of Puerto Rico municipal bonds and of closed-end funds (funds) that are sole-managed and co-managed by UBS Trust Company of Puerto Rico and distributed by UBS Financial Services Incorporated of Puerto Rico (UBS PR) have led to multiple regulatory inquiries, as well as customer complaints and arbitrations with aggregate claimed damages of USD 2.9 billion, of which claims with aggregate claimed damages of USD 1.9 billion have been resolved through settlements, arbitrat ion or withdrawal of the claim. The claims have been filed by clients in Puerto Rico who own the funds or Puerto Rico municipal bonds and / or who used their UBS account assets as collateral for UBS non-purpose loans; customer complaint and arbitration all egations include fraud, misrepresentation and unsuitability of the funds and of the loans. A shareholder derivative action was filed in 2014 against various UBS entities and current and certain former directors of the funds, alleging hundreds of millions of US dollars in losses in the funds. In 2015, defendants’ motion to dismiss was denied and a request for permission to appeal that ruling was denied by the Puerto Rico Supreme Court. In 2014, a federal class action complaint also was filed against various UBS entities, certain members of UBS PR senior management and the co-manager of certain of the funds, seeking damages for investor losses in the funds during the period from May 2008 through May 2014. Following denial of the plaintiffs’ motion for class c ertification, the case was dismissed in October 2018. In 2014 and 2015, UBS entered into settlements with the Office of the Commissioner of Financial Institutions for the Commonwealth of Puerto Rico, the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority in relation to their examinations of UBS’s operations. We also understand that the DOJ is conducting a criminal inquiry into the impermissible reinvestment of non-purpose loan proceeds. We are cooperating with the au thorities in this inquiry. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants, including UBS PR, which was named in connection with its underwriting and consulting services. Plaintiffs alleged that defendants violated their purported fiduciary duties and contractual obligations in connection with the issuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought damag es of over USD 800 million. In 2016, the court granted the System’s request to join the action as a plaintiff, but ordered that plaintiffs must file an amended complaint. In 2017, the court denied defendants’ motion to dismiss the amended complaint. Beginn ing in 2015, and continuing through 2017, certain agencies and public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest payments on Puerto Rico bonds. In 2016, US federal legislation created an oversight board wit h power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board has imposed a stay on the exercise of creditors’ rights. In 2017, the oversight board placed certain of the bonds into a bankruptcy-like proceeding under the supervi sion of a Federal District Judge. These events, further defaults, any further legislative action to create a legal means of restructuring Commonwealth obligations or to impose additional oversight on the Commonwealth’s finances, or any restructuring of the Commonwealth’s obligations, may increase the number of claims against UBS concerning Puerto Rico securities, as well as potential damages sought. Our balance sheet at 31 December 2018 reflected provisions with respect to matters described in this item 4 i n amounts that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters 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 provisions that we have recognized. 5. Foreign exchange, LIBOR and benchmark rates, and other trading practices Foreign exchange-related regulatory matters: Beginning in 2013 numerous authorities commenced investigations concerning poss ible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC) in connection with their foreign exchan ge investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals businesses, and the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Connecticut Department of Banking issued a Cease and Desist Order and assessed monetary penalties against UBS AG. In 2015, the DOJ’s Criminal Division terminated the 2012 non-prosecution agreement with UBS AG related to UBS’s submissions of benchmark interest rates and UBS AG plea ded guilty to one count of wire fraud, paid a fine and is subject to probation through January 2020. UBS has ongoing obligations to cooperate with these authorities and to undertake certain remediation measures. UBS has also been granted conditional immuni ty by the Antitrust Division of the DOJ and by authorities in other jurisdictions in connection with potential competition law violations relating to foreign exchange and precious metals businesses. Investigations relating to foreign exchange and precious metals matters by certain authorities remain ongoing notwithstanding these resolutions. Foreign exchange-related civil litigation: Putative class actions have been filed since 2013 in US federal courts and in other jurisdictions against UBS and other banks on behalf of putative classes of persons who engaged in foreign currency transactions with any of the defendant banks. UBS has entered into a settlement agreement that would resolve US federal court class actions relating to foreign currency transactions with the defendant banks and persons who transacted in foreign exchange futures contracts and options on such futures. The settlement agreement, which has been approved by the court, requires, among other things, that UBS pay an aggregate of USD 141 millio n and provide cooperation to the settlement classes. Certain class members have excluded themselves from that settlement and have filed individual actions in US and English courts against UBS and other banks alleging violations of US and European competiti on laws and unjust enrichment. In 2015, a putative class action was filed in federal court against UBS and numerous other banks on behalf of persons and businesses in the US who directly purchased foreign currency from the defendants and alleged co-conspi rators for their own end use. In March 2017, the court granted UBS’s (and the other banks’) motions to dismiss the complaint. The plaintiffs filed an amended complaint in August 2017. In March 2018, the court denied the defendants’ motions to dismiss the a mended complaint. In 2016, a putative class action was filed in federal court in New York against UBS and numerous other banks on behalf of persons and entities who had indirectly purchased foreign exchange instruments from a defendant or co-conspirator in the US. The complaint asserts claims under federal and state antitrust laws. In response to defendants’ motion to dismiss, plaintiffs agreed to dismiss their complaint. In 2017, two new putative class actions were filed in federal court in New York again st UBS and numerous other banks on behalf of different proposed classes of indirect purchasers of currency, and a consolidated complaint was filed in June 2017. In March 2018, the court dismissed the consolidated complaint. In October 2018, the court grant ed plaintiffs’ motion seeking leave to file an amended complaint. Putative class actions were also filed against UBS and other banks in federal court in New York and other jurisdictions on behalf of putative classes of persons who had bought or sold physic al precious metals and various precious metal products and derivatives. The complaints in these lawsuits asserted claims under the antitrust laws and the Commodity Exchange Act (CEA), and other claims. In July 2018, the court in New York granted UBS’s moti ons to dismiss amended complaints in the putative class actions relating to gold and silver. In 2017, the court granted UBS’s motion to dismiss the platinum and palladium action. Plaintiffs in the platinum and palladium action subsequently filed an amended complaint that did not allege claims against UBS. LIBOR and other benchmark-related regulatory matters: Numerous government agencies, including the SEC, the CFTC, the DOJ, the FCA, the UK Serious Fraud Office, the Monetary Authority of Singapore, the Hong Kong Monetary Authority, FINMA, various state attorneys general in the US and competition authorities i n various jurisdictions, have conducted or are continuing to conduct investigations regarding potential improper attempts by UBS, among others, to manipulate LIBOR and other benchmark rates at certain times. In 2012, UBS reached settlements relating to ben chmark interest rates with the UK Financial Services Authority, the CFTC and the Criminal Division of the DOJ, and FINMA issued an order in its proceedings with respect to UBS relating to benchmark interest rates. In addition, UBS entered into settlements with the European Commission and with the Swiss Competition Commission (WEKO) regarding its investigation of bid-ask spreads in connection with Swiss franc interest rate derivatives. UBS has ongoing obligations to cooperate with the authorities with whom w e have reached resolutions and to undertake certain remediation measures with respect to benchmark interest rate submissions. In December 2018, UBS entered into a settlement agreement with the New York and other state attorneys general under which it will pay USD 68 million to resolve claims by the attorneys general related to LIBOR. UBS has been granted conditional leniency or conditional immunity from authorities in certain jurisdictions, including the Antitrust Division of the DOJ and WEKO, in connection with potential antitrust or competition law violations related to certain rates. However, UBS has not reached a final settlement with WEKO as the Secretariat of WEKO has asserted that UBS does not qualify for full immunity. LIBOR and other benchmark-rela ted civil litigation: A number of putative class actions and other actions are pending in the federal courts in New York against UBS and numerous other banks on behalf of parties who transacted in certain interest rate benchmark-based derivatives. Also pen ding in the US and in other jurisdictions are a number of other actions asserting losses related to various products whose interest rates were linked to LIBOR and other benchmarks, including adjustable rate mortgages, preferred and debt securities, bonds p ledged as collateral, loans, depository accounts, investments and other interest-bearing instruments. The complaints allege manipulation, through various means, of certain benchmark interest rates, including USD LIBOR, Euroyen TIBOR, Yen LIBOR, EURIBOR, CH F LIBOR, GBP LIBOR, USD and SGD SIBOR and SOR and Australian BBSW, and seek unspecified compensatory and other damages under varying legal theories. USD LIBOR class and individual actions in the US: In 2013 and 2015, the district court in the USD LIBOR ac tions dismissed, in whole or in part, certain plaintiffs’ antitrust claims, federal racketeering claims, CEA claims, and state common law claims. Although the Second Circuit vacated the district court’s judgment dismissing antitrust claims, the district co urt again dismissed antitrust claims against UBS in 2016. Certain plainti |
UBS AG | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | b) Litigation, regulatory and similar matters UBS operates in a legal and regulatory environment that exposes it to significant litigation and similar risks arising from disputes and regulatory proceedings. As a result, UBS (which for purposes of this Note may refer to UBS AG and / or one or more of its subsidiaries, as applicable) is invo lved in various disputes and legal proceedings, including litigation, arbitration, and regulatory and criminal investigations. Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, part icularly in the earlier stages of a case. There are also situations where UBS 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 UBS believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contin gent liabilities. UBS makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that UBS has a present legal or constructive obligation as a result of past events, it is p robable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against UBS , but are nevertheless expect ed to be, based on UBS ’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized e ven if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. Developments relating to a matter that occur after the relevant reporting per iod, but prior to the issuance of financial statements, which affect management’s assessment of the provision for such matter (because, for example, the developments provide evidence of conditions that existed at the end of the reporting period), are adjus ting events after the reporting period under IAS 10 and must be recognized in the financial statements for the reporting period. Specific litigation, regulatory and other matters are described below, including all such matters that management considers to be material and others that management believes to be of significance due to potential financial, re putational and other effects. The amount of damages claimed, the size of a transaction or other information is provided where available and appropriate in order to assist users in considering the magnitude of potential exposures. In the cas e of certain mat ters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard; or (b) we have established a provision bu t expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. With respect to certain litigation, regu latory and similar matters for which we have established provisions, we are able to estimate the expected timing of outflows. However, the aggregate amount of the expected outflows for those matters for which we are able to estimate expected timing is imma terial relative to our current and expected levels of liquidity over the relevant time periods. The aggregate amount provisioned for litigation, regulatory and similar matters as a class is disclosed in the “Provisions” table in Note 21a above. It is not p racticable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve u nique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, re gulatory and similar matters may also result in non-monetary penalties and consequences. For example, the non-prosecution agreement described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Se ction in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020 . A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory a uthorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could h ave material consequences for UBS. The risk of loss associated with litigation, regulatory and similar matters is a component of operational risk for purposes of determining our capital requirements. Information concerning our capital requirements and the calculation of operational risk for this purpose is included in the “Capital management” section of this report. Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 2018 Total 2017 Balance at the beginning of the year 569 81 1 354 246 0 1,256 2,508 3,204 Increase in provisions recognized in the income statement 659 41 0 83 32 0 90 905 703 Release of provisions recognized in the income statement (33) (1) (1) (146) (38) 0 0 (220) (214) Provisions used in conformity with designated purpose (184) (3) 0 (18) (1) 0 (143) (350) (1,251) Foreign currency translation / unwind of discount (9) (1) 0 (3) (2) 0 (1) (16) 66 Balance at the end of the year 1,003 117 0 269 236 0 1,202 2,827 2,508 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 1. Inquiries regarding cross-border wealth management businesses Tax and regulatory authorities in a number of countries have made inquiries, served requests for information or examined employees located in their respective jurisdictions relating to the cross-border wealth management services provided by UBS and other financial institutions. It is possible that the implementation of automatic tax information exchange and other measures relating to cross-border pro vision of financial services could give rise to further inquiries in the future. UBS has received disclosure orders from the Swiss Federal Tax Administration (FTA) to transfer information based on requests for international administrative assistance in tax matters. The requests concern a number of UBS account numbers pertaining to current and former clients and are based on data from 2006 and 2008. UBS has taken steps to inform affected clients about the administrative assistance proceedings and their proce dural rights, including the right to appeal. The requests are based on data received from the German authorities, who seized certain data related to UBS clients booked in Switzerland during their investigations and have apparently shared this data with oth er European countries. UBS expects additional countries to file similar requests. The Swiss Federal Administrative Court ruled in 2016 that, in the administrative assistance proceedings related to a French bulk request, UBS has the right to appeal all fin al FTA client data disclosure orders. On 30 July 2018, the Swiss Federal Administrative Court granted UBS’s appeal by holding the French administrative assistance request inadmissible. The FTA filed a final appeal with the Swiss Federal Supreme Court. Sinc e 2013, UBS (France) S.A., UBS AG and certain former employees have been under investigation in France for alleged complicity in having illicitly solicited clients on French territory, regarding the laundering of proceeds of tax fraud, and of banking and f inancial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“caution”) of EUR 1.1 billion and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal t o EUR 10 million. In March 2017, the investigating judges issued a trial order (“ordonnance de renvoi”) that charges UBS AG and UBS (France) S.A., as well as various former employees, with illicit solicitation of clients on French territory and with partic ipation in the laundering of the proceeds of tax fraud. The trial on these charges in the court of first instance took place from 8 October 2018 until 15 November 2018. During the trial, the prosecutors and the French State requested penalties and civil mo netary damages in connection with the money laundering charges aggregating EUR 5.3 billion. On 20 February 2019 , the court announced a verdict finding UBS AG guilty of illicitly soliciting clients on French territory and laundering the proceeds of tax frau d, and UBS France S.A. guilty of aiding and abetting unlawful solicitation and laundering the proceeds of tax fraud. The court imposed fines aggregating EUR 3.7 billion on UBS AG and UBS France S.A. and awarded EUR 800 million of civil damages to the Frenc h state. UBS has appealed the decision. Under French law, the judgment is suspended while the appeal is pending. The C ourt of A ppeal will retry the case de novo as to both the law and the facts and the fines and penalties can be greater than or less than t hose imposed by the court of first instance. A subsequent appeal to the Cour de Cassation, France ’ s highest court, is possible with respect to questions of law. UBS believes that based on both the law and the facts the judgment of the court of first instance should be reversed. UBS believ es it followed its obligations under Swiss and French law as well as the European Savings Tax Directive. Even assuming liability, which it contests, UBS believes the penalties and damage amounts awarded greatly exceeded the amounts that could be supported by the law and the facts. In particular, UBS believes the court incorrectly based the penalty on the total regularized assets rather than on any unpaid taxes on those assets for which a fraud has been characterized, and further incorrectly awarded damages based on costs that were not proven by the civil party. Notwithstanding that UBS believes it should be acquitted, our balance sheet at 31 December 2018 reflected provisions with respect to this matter in an amount of USD 516 million. The wide range of poss ible outcomes in this case contributes to a high degree of estimation uncertainty. The provision reflected on our balance sheet at 31 December 2018 reflects our best estimate of possible financial implications, although it is reasonably possible that actua l penalties and civil damages could exceed the provision amount. In 2016, UBS was notified by the Belgian investigating judge that it is under formal investigation (“inculpé”) regarding the laundering of proceeds of tax fraud, of banking and financial soli citation by unauthorized persons, and of serious tax fraud. In 2018, tax authorities and a prosecutor’s office in Italy asserted that UBS is potentially liable for taxes and penalties as a result of its activities in Italy from 2012 to 2017. UBS has, and r eportedly numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Fédération Internationale de Football Association (FIFA) and other constituent soccer associations and related persons and entitie s. UBS is cooperating with authorities in these inquiries. Our balance sheet at 31 December 2018 reflected provisions with respect to matters described in this item 1 in an amount that UBS believes to be appropriate under the applicable accounting standard . As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be s ubstantially greater (or may be less) than the provision that we have recognized. 2. Claims related to sales of residential mortgage-backed securities and mortgages From 2002 through 2007, prior to the crisis in the US residential loan market, UBS was a substantial issuer and underwriter of US residential mortgage-backed securities (RMBS) and was a purc haser and seller of US residential mortgages. A subsidiary of UBS, UBS Real Estate Securities Inc. (UBS RESI), acquired pools of residential mortgage loans from originators and (through an affiliate) deposited them into securitization trusts. In this manne r, from 2004 through 2007, UBS RESI sponsored approximately USD 80 billion in RMBS, based on the original principal balances of the securities issued. UBS RESI also sold pools of loans acquired from originators to third-party purchasers. These whole loan s ales during the period 2004 through 2007 totaled approximately USD 19 billion in original principal balance. UBS was not a significant originator of US residential loans. A branch of UBS originated approximately USD 1.5 billion in US residential mortgage l oans during the period in which it was active from 2006 to 2008, and securitized less than half of these loans. Lawsuits related to contractual representations and warranties concerning mortgages and RMBS: When UBS acted as an RMBS sponsor or mortgage sell er, it generally made certain representations relating to the characteristics of the underlying loans. In the event of a material breach of these representations, UBS was in certain circumstances contractually obligated to repurchase the loans to which the representations related or to indemnify certain parties against losses. In 2012, certain RMBS trusts filed an action in the US District Court for the Southern District of New York seeking to enforce UBS RESI’s obligation to repurchase loans in the collate ral pools for three RMBS securitizations issued and underwritten by UBS with an original principal balance of approximately USD 2 billion. In July 2018, UBS and the trustee entered into an agreement under which UBS will pay USD 850 million to resolve this matter. A significant portion of this amount will be borne by other parties that indemnified UBS. The settlement remains subject to court approval and proceedings to determine how the settlement funds will be distributed to RMBS holders. After giving effec t to this settlement, UBS considers claims relating to substantially all loan repurchase demands to be resolved, and believes that new demands to repurchase US residential mortgage loans are time-barred under a decision rendered by the New York Court of Ap peals. Mortgage-related regulatory matters: Since 2014, the US Attorney’s Office for the Eastern District of New York has sought information from UBS pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), related to U BS’s RMBS business from 2005 through 2007. On 8 November 2018, the DOJ filed a civil complaint in the District Court for the Eastern District of New York. The complaint seeks unspecified civil monetary penalties under FIRREA related to UBS’s issuance, unde rwriting and sale of 40 RMBS transactions in 2006 and 2007. UBS moved to dismiss the civil complaint on 6 February 2019 . Our balance sheet at 31 December 2018 reflected a provision with respect to matters described in this item 2 in an amount that UBS beli eves to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of this matter cannot be determined with certainty based on currently avai lable information and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that we have recognized. 3. Madoff In relation to the Bernard L. Madoff Investment Securities LLC (BMIS) investment fraud, UBS AG, UBS (L uxembourg) S.A. (now UBS Europe SE, Luxembourg branch) and certain other UBS subsidiaries have been subject to inquiries by a number of regulators, including the Swiss Financial Market Supervisory Authority (FINMA) and the Luxembourg Commission de Surveill ance du Secteur Financier. Those inquiries concerned two third-party funds established under Luxembourg law, substantially all assets of which were with BMIS, as well as certain funds established in offshore jurisdictions with either direct or indirect exp osure to BMIS. These funds faced severe losses, and the Luxembourg funds are in liquidation. The documentation establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indi cates that UBS employees serve as board members. In 2009 and 2010, the liquidators of the two Luxembourg funds filed claims against UBS entities, non-UBS entities and certain individuals, including current and former UBS employees, seeking amounts totaling approximately EUR 2.1 billion, which includes amounts that the funds may be held liable to pay the trustee for the liquidation of BMIS (BMIS Trustee). A large number of alleged beneficiaries have filed claims against UBS entities (and non-UBS entities) fo r purported losses relating to the Madoff fraud. The majority of these cases have been filed in Luxembourg, where decisions that the claims in eight test cases were inadmissible have been affirmed by the Luxembourg Court of Appeal, and the Luxembourg Supre me Court has dismissed a further appeal in one of the test cases. In the US, the BMIS Trustee filed claims against UBS entities, among others, in relation to the two Luxembourg funds and one of the offshore funds. The total amount claimed against all defe ndants in these actions was not less than USD 2 billion. In 2014, the US Supreme Court rejected the BMIS Trustee’s motion for leave to appeal decisions dismissing all claims except those for the recovery of fraudulent conveyances and preference payments. I n 2016, the bankruptcy court dismissed the remaining claims against the UBS entities. The BMIS Trustee appealed. 4. Puerto Rico Declines since 2013 in the market prices of Puerto Rico municipal bonds and of closed-end funds (funds) that are sole-managed and co-managed by UBS Trust Company of Puerto Rico and distributed by UBS Financial Services Incorporated of Puerto Rico (UBS PR) have led to multiple regulatory inquiries, as well as customer complaints and arbitrations with aggregate claimed damages of USD 2.9 billion, of which claims with aggregate claimed damages of USD 1.9 billion have been resolved through settlements, arb itration or withdrawal of the claim. The claims have been filed by clients in Puerto Rico who own the funds or Puerto Rico municipal bonds and / or who used their UBS account assets as collateral for UBS non-purpose loans; customer complaint and arbitratio n allegations include fraud, misrepresentation and unsuitability of the funds and of the loans. A shareholder derivative action was filed in 2014 against various UBS entities and current and certain former directors of the funds, alleging hundreds of mill ions of US dollars in losses in the funds. In 2015, defendants’ motion to dismiss was denied and a request for permission to appeal that ruling was denied by the Puerto Rico Supreme Court. In 2014, a federal class action complaint also was filed against va rious UBS entities, certain members of UBS PR senior management and the co-manager of certain of the funds, seeking damages for investor losses in the funds during the period from May 2008 through May 2014. Following denial of the plaintiffs’ motion for cl ass certification, the case was dismissed in October 2018. In 2014 and 2015, UBS entered into settlements with the Office of the Commissioner of Financial Institutions for the Commonwealth of Puerto Rico, the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority in relation to their examinations of UBS’s operations. We also understand that the DOJ is conducting a criminal inquiry into the impermissible reinvestment of non-purpose loan proceeds. We are cooperating wit h the authorities in this inquiry. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants, including UBS PR, which was named in connection with it s underwriting and consulting services. Plaintiffs alleged that defendants violated their purported fiduciary duties and contractual obligations in connection with the issuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought dam ages of over USD 800 million. In 2016, the court granted the System’s request to join the action as a plaintiff, but ordered that plaintiffs must file an amended complaint. In 2017, the court denied defendants’ motion to dismiss the amended complaint. Begi nning in 2015, and continuing through 2017, certain agencies and public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest payments on Puerto Rico bonds. In 2016, US federal legislation created an oversight board w ith power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board has imposed a stay on the exercise of creditors’ rights. In 2017, the oversight board placed certain of the bonds into a bankruptcy-like proceeding under the super vision of a Federal District Judge. These events, further defaults, any further legislative action to create a legal means of restructuring Commonwealth obligations or to impose additional oversight on the Commonwealth’s finances, or any restructuring of t he Commonwealth’s obligations, may increase the number of claims against UBS concerning Puerto Rico securities, as well as potential damages sought. Our balance sheet at 31 December 2018 reflected provisions with respect to matters described in this item 4 in amounts that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certain ty based on currently available information and accordingly may ultimately prove to be substantially greater (or may be less) than the provisions that we have recognized. 5. Foreign exchange, LIBOR and benchmark rates, and other trading practices Foreign exchange-related regulatory matters: Beginning in 2013 numerous authorities commenced investigations conc erning possible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC) in connection with their for eign exchange investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals businesses, and the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Connecticut De partment of Banking issued a Cease and Desist Order and assessed monetary penalties against UBS AG. In 2015, the DOJ’s Criminal Division terminated the 2012 non-prosecution agreement with UBS AG related to UBS’s submissions of benchmark interest rates and UBS AG pleaded guilty to one count of wire fraud, paid a fine and is subject to probation through January 2020. UBS has ongoing obligations to cooperate with these authorities and to undertake certain remediation measures. UBS has also been granted conditi onal immunity by the Antitrust Division of the DOJ and by authorities in other jurisdictions in connection with potential competition law violations relating to foreign exchange and precious metals businesses. Investigations relating to foreign exchange an d precious metals matters by certain authorities remain ongoing notwithstanding these resolutions. Foreign exchange-related civil litigation: Putative class actions have been filed since 2013 in US federal courts and in other jurisdictions against UBS and other banks on behalf of putative classes of persons who engaged in foreign currency transactions with any of the defendant banks. UBS has entered into a settlement agreement that would resolve US federal court class actions relating to foreign currency transactions with the defendant banks and persons who transacted in foreign exchange futures contracts and options on such futures. The settlement agreement, which has been approved by the court, requires, among other things, that UBS pay an aggregate of USD 141 million and provide cooperation to the settlement classes. Certain class members have excluded themselves from that settlement and have filed individual actions in US and English courts aga inst UBS and other banks alleging violations of US and European competition laws and unjust enrichment. In 2015, a putative class action was filed in federal court against UBS and numerous other banks on behalf of persons and businesses in the US who dire ctly purchased foreign currency from the defendants and alleged co-conspirators for their own end use. In March 2017, the court granted UBS’s (and the other banks’) motions to dismiss the complaint. The plaintiffs filed an amended complaint in August 2017. In March 2018, the court denied the defendants’ motions to dismiss the amended complaint. In 2016, a putative class action was filed in federal court in New York against UBS and numerous other banks on behalf of persons and entities who had indirectly pur chased foreign exchange instruments from a defendant or co-conspirator in the US. The complaint asserts claims under federal and state antitrust laws. In response to defendants’ motion to dismiss, plaintiffs agreed to dismiss their complaint. In 2017, two new putative class actions were filed in federal court in New York against UBS and numerous other banks on behalf of different proposed classes of indirect purchasers of currency, and a consolidated complaint was filed in June 2017. In March 2018, the cou rt dismissed the consolidated complaint. In October 2018, the court granted plaintiffs’ motion seeking leave to file an amended complaint. Putative class actions were also filed against UBS and other banks in federal court in New York and other jurisdictio ns on behalf of putative classes of persons who had bought or sold physical precious metals and various precious metal products and derivatives. The complaints in these lawsuits asserted claims under the antitrust laws and the Commodity Exchange Act (CEA), and other claims. In July 2018, the court in New York granted UBS’s motions to dismiss amended complaints in the putative class actions relating to gold and silver. In 2017, the court granted UBS’s motion to dismiss the platinum and palladium action. Plai ntiffs in the platinum and palladium action subsequently filed an amended complaint that did not allege claims against UBS. L IBOR and other benchmark-related regulatory matters: Numerous government agencies, including the SEC, the CFTC, the DOJ, the FCA, the UK Serious Fraud Office, the Monetary Authority of Singapore, the Hong Kong Monetary Authority, FINMA, various state attor neys general in the US and competition authorities in various jurisdictions, have conducted or are continuing to conduct investigations regarding potential improper attempts by UBS, among others, to manipulate LIBOR and other benchmark rates at certain tim es. In 2012, UBS reached settlements relating to benchmark interest rates with the UK Financial Services Authority, the CFTC and the Criminal Division of the DOJ, and FINMA issued an order in its proceedings with respect to UBS relating to benchmark intere st rates. In addition, UBS entered into settlements with the European Commission and with the Swiss Competition Commission (WEKO) regarding its investigation of bid-ask spreads in connection with Swiss franc interest rate derivatives. UBS has ongoing oblig ations to cooperate with the authorities with whom we have reached resolutions and to undertake certain remediation measures with respect to benchmark interest rate submissions. In December 2018, UBS entered into a settlement agreement with the New York an d other state attorneys general under which it will pay USD 68 million to resolve claims by the attorneys general related to LIBOR. UBS has been granted conditional leniency or conditional immunity from authorities in certain jurisdictions, including the A ntitrust Division of the DOJ and WEKO, in connection with potential antitrust or competition law violations related to certain rates. However, UBS has not reached a final settlement with WEKO as the Secretariat of WEKO has asserted that UBS does not qualif y for full immunity. LIBOR and other benchmark-related civil litigation: A number of putative class actions and other actions are pending in the federal courts in New York against UBS and numerous other banks on behalf of parties who transacted in certain interest rate benchmark-based derivatives. Also pending in the US and in other jurisdictions are a number of other actions asserting losses related to various products whose interest rates were linked to LIBOR and other benchmarks, including adjustable ra te mortgages, preferred and debt securities, bonds pledged as collateral, loans, depository accounts, investments and other interest-bearing instruments. The complaints allege manipulation, through various means, of certain benchmark interest rates, includ ing USD LIBOR, Euroyen TIBOR, Yen LIBOR, EURIBOR, CHF LIBOR, GBP LIBOR, USD and SGD SIBOR and SOR and Australian BBSW, and seek unspecified compensatory and other damages under varying legal theories. USD LIBOR class and individual actions in the US: In 2 013 and 2015, the district court in the USD LIBOR actions dismissed, in whole or in part, certain plaintiffs’ antitrust claims, federal racketeering claims, CEA claims, and state common law claims. Although the Second Circuit vacated the district court’s j udgment dismissing antitrust claims, the district court again dismissed antitrust claims against UBS in 2016. Certain plaintiffs have appealed that decision to the Se |
Other financial and non-finan_2
Other financial and non-financial liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Other Financial And Non Financial Liabilities [Line Items] | |
Other Financial And Non Financial Liabilities Explanatory | Note 22 Other liabilities a) Other financial liabilities measured at amortized cost USD million 31.12.18 31.12.17 Prime brokerage payables 1 30,413 Other accrued expenses 2,192 2,507 Accrued interest expenses 1,544 1,552 Settlement and clearing accounts 1,486 1,432 Other 1,663 1,373 Total other financial liabilities measured at amortized cost 6,885 37,276 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. b) Other financial liabilities designated at fair value USD million 31.12.18 31.12.17 Amounts due under unit-linked investment contracts 21,679 11,821 Securities financing transactions 1 9,461 384 Over-the-counter debt instruments 2,450 4,428 of which: life-to-date own credit (gain) / loss (51) 37 Other 5 9 Total other financial liabilities designated at fair value 2 33,594 16,643 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. 2 As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. c) Other non-financial liabilities USD million 31.12.18 31.12.17 Compensation-related liabilities 7,278 7,873 of which: accrued expenses 2,696 2,740 of which: Deferred Contingent Capital Plan 1,983 2,044 of which: other deferred compensation plans 1,823 2,140 of which: net defined benefit pension and post-employment liabilities 1 775 949 Current and deferred tax liabilities 2 1,002 935 VAT and other tax payables 431 426 Deferred income 215 153 Other 98 55 Total other non-financial liabilities 9,022 9,443 1 Refer to Note 29 for more information. 2 Refer to Note 8 for more information. |
UBS AG | |
Other Financial And Non Financial Liabilities [Line Items] | |
Other Financial And Non Financial Liabilities Explanatory | Note 22 Other liabilities a) Other financial liabilities measured at amortized cost USD million 31.12.18 31.12.17 Prime brokerage payables 1 30,413 Other accrued expenses 1,911 2,160 Accrued interest expenses 1,501 1,572 Settlement and clearing accounts 1,477 1,416 Other 2,688 2,532 Total other financial liabilities measured at amortized cost 7,576 38,092 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. b) Other financial liabilities designated at fair value USD million 31.12.18 31.12.17 Amounts due under unit-linked investment contracts 21,679 11,821 Securities financing transactions 1 9,461 384 Over-the-counter debt instruments 2,450 4,428 of which: life-to-date own credit (gain) / loss (51) 37 Other 5 9 Total other financial liabilities designated at fair value 2 33,594 16,643 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. 2 As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. c) Other non-financial liabilities USD million 31.12.18 31.12.17 Compensation-related liabilities 4,645 5,036 of which: accrued expenses 2,400 2,433 of which: other deferred compensation plans 1,473 1,655 of which: net defined benefit pension and post-employment liabilities 1 773 948 Current and deferred tax liabilities 2 915 866 VAT and other tax payables 403 388 Deferred income 215 153 Other 98 55 Total other non-financial liabilities 6,275 6,499 1 Refer to Note 29 for more information. 2 Refer to Note 8 for more information. |
Expected credit loss measuremen
Expected credit loss measurement | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Provision Matrix [Line Items] | |
Disclosure Of Financial Assets Explanatory | Additional information Note 23 Expected credit loss measurement a) Expected credit losses in the period Total net credit loss expenses amounted to USD 118 million in 2018, reflecting expected credit losses (ECL) of USD 23 million related to stage 1 and 2 positions and net losses of USD 95 million related to credit-impaired (stage 3) positions. In the Investment Bank and Global Wealth Management, increased st age 1 and 2 ECL provisions recognized over the year primarily relate to loans and credit facilities originated during 2018 and to a lesser extent to changes in credit quality of existing assets. In Personal & Corporate Banking, ECL remained unchanged over the year primarily because increased ECL from new transactions and minor changes in applied credit risk models were offset by ECL net recoveries as a lower proportion of transactions was subject to stage 2 classification. Stage 3 net losses of USD 95 milli on were recognized across a number of defaulted positions, mainly in Personal & Corporate Banking (USD 56 million) and to a lesser extent in the Investment Bank (USD 29 million). b) Changes to ECL models, scenarios, scenario weights and key inputs Refer to Note 1a and 1 c for information on ECL models, scenarios, scenario weights and key inputs applied at transition to IFRS 9 as of 1 January 2018. No changes were applied to the determination of a significant increase in credit risk (SICR) and the ECL measurement period during the year 2018. Apart from updating market data, such as house prices, equity indices and foreign exchange rates, and macroeconomic factors, such as gross domestic product (GDP) and unemployment rates, no significant changes were applied to the models used to calculate ECL during the year 2018. The four scenarios and the related macro economic factors were reviewed in light of the economic and political conditions prevailing at year-end 2018. UBS has determined that the fundamental risk assessment made upon transition to IFRS 9 on 1 January 2018 is still appropriate and that potential developments remain suitably covered by the baseline scenario, which is aligned with the busi ness plan, and the three additional scenarios introduced to capture potential non-linearity of credit losses required under IFRS 9. The key parameters (e.g. , the real GDP growth, consumer price inflation, unemployment rate) of each scenario have been updat ed over the course of the year, but remained materially unchanged from what was applied at transition (refer to Note 1c). The key parameters applied as of 31 December 2018 are summarized in the table on the following page . The determination of the scenario weights is subject to the process and gove rnance outlined in Note 1a Sec tion 3g. An econometric model is used to provide an input into the scenario weight assessment process giv ing a first indication of the probability that the GDP forecast used for each scenario would materialize, if historically observed deviations of GDP growth from trend growth were representative. As such historical analyses of GDP development do not include an as sessment of the underlying economic or political causes, management posi tions the model output into the context of current conditions and future expectations and applies judgment in determining the final scenario weights. The reviews during 2018 reflected the increasing probability of a weakening economy in key market s, after a long spell of substantial expansion, and the uncertainties about the influence that several political developments with unforeseeable outcomes may have on future growth. At ye ar-end 2018, management reflected these developments by giving more wei ght to the mild and severe downside scenarios compared to transition date . Non-linearity of credit losses in relation to macroeconomic factors is usually most pronounced in portfolios that are most sensitive to interest rates, especially in the areas of mortga ge loans to private clients and real estate financing. The mild downside scenario reflects a significant rise of interest rates as a key component and is also particularly relevant for credit risk management purposes. As noted above , s cenario weights are a reflection of risks identified during management’s assessment of economic and geopolitical risks and not a specific expectation that a particular n arrative with its defined macro economic factors (e.g. , interest rates) will materialize. Other scenarios for a mild downside with less focus on interest rates would, however, not have been representative of the potential asymmetry of loan losses in a downturn. A more severe recession can be triggered by political factors that cannot be modeled based on observed history ; given this consideration , the weight assigned to the severe downside case was based on management’s assessment of the geopolitical risks that might affect all of our key markets and portfolios. ECL scenario Assigned weights in % 31.12.18 1.1.18 Upside 10.0 20.0 Baseline 45.0 42.5 Mild downside 35.0 30.0 Severe downside 10.0 7.5 1-year shock 3-year cumulative shock Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 5.5 2.8 (0.5) (5.2) 9.9 7.0 0.0 (3.6) Eurozone 4.3 1.8 (0.3) (10.4) 8.5 4.7 0.7 (13.4) Switzerland 5.0 2.0 (0.8) (7.0) 9.4 5.5 (0.1) (6.9) Consumer price inflation (% change) United States 3.5 2.1 4.9 (1.0) 10.4 5.5 11.1 0.6 Eurozone 2.4 1.6 2.8 (1.1) 8.1 5.3 6.2 (1.4) Switzerland 1.4 0.9 1.8 (1.8) 7.1 2.8 4.2 (1.2) Unemployment rate (%, average) United States (1.7) (0.6) 0.6 3.4 (1.5) (0.5) 1.8 2.9 Eurozone (1.0) (0.5) 0.0 3.2 (1.9) (0.9) 0.1 3.7 Switzerland (1.5) (0.3) 0.6 4.3 (1.4) 0.1 1.6 5.3 Fixed income: 10-year government bonds (bps) USD 61.0 3.9 187.5 (160.0) 249.1 5.7 262.5 (135.0) EUR 40.0 22.0 75.0 (20.0) 146.7 60.7 225.0 (10.0) CHF 48.0 19.7 187.5 (75.0) 208.0 53.2 262.5 (40.0) Equity indices (% change) S&P 500 14.8 5.8 (20.3) (50.1) 38.7 15.1 (23.5) (48.2) EuroStoxx 50 17.0 6.0 (15.5) (63.7) 38.4 15.6 (14.7) (65.9) SPI 13.9 4.2 (19.0) (56.2) 37.1 10.4 (24.0) (56.7) Swiss real estate (% change) Single-Family Homes 4.5 (0.3) (7.3) (15.2) 14.1 1.4 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 10.3 6.9 (2.7) (16.0) 30.9 17.7 (17.0) (22.1) Eurozone (Housing Price Index) 4.9 1.9 (0.2) (9.5) 15.4 8.2 3.0 (18.3) c) Development of ECL allowances and provisions The ECL allowances and provisions recognized in the p eriod are impacted by a variety of factors, such as : origination of new instruments during the period; effect of passage of time as the ECL on an instrument for the remaining lifetime reduces (all other factors remaining the same); credit impairment: incr eased ECL as default is certain and PD increases to 100%; discount unwind within ECL as it is measured on a present value basis; derecognition of instruments in the period; change in individual asset quality of instruments; portfolio effect of updating for ward-looking scenarios and the respective weights; movements from a “maximum 12-month ECL” to the recognition of “lifetime ECL” (and vice versa) following transfers between the stages 1, 2 and 3 (SICR or credit-impairment status); changes in credit risk an d / or economic forecasting models or updates to model parameters; foreign exchange translations for assets denominated in foreign currencies and other movements. The following table explains the changes in the ECL allowance s and provisions for Loans and advances to customers, Loans to financial advisors and off-balance sheet financial ins truments and other credit lines between the beginning and the end of the period due to the factors listed on the previous page. Development of ECL allowances and provisions USD million Total Stage 1 Stage 2 Stage 3 Balance as of 1 January 2018 (1,117) (141) (193) (783) ECL movements due to stage transfer (profit or loss neutral) 1 0 (97) 95 2 ECL movements with profit or loss impact 2 (104) 66 (83) (88) Net movement from new and derecognized transactions 3 (10) (44) 15 19 of which: Private clients with mortgages (3) (6) 4 0 of which: Real estate financing (3) (8) 5 0 of which: Large corporate clients 2 (6) 1 8 of which: SME clients (10) (14) 4 0 Book quality movements (89) 112 (87) (114) Remeasurements due to stage transfers 4 (16) 95 (103) (7) of which: Private clients with mortgages (11) 54 (63) (1) of which: Real estate financing 5 24 (19) 0 of which: Large corporate clients (1) 0 (3) 1 of which: SME clients 1 7 (7) 0 Remeasurements without stage transfers 5 (73) 17 16 (106) of which: Private clients with mortgages (9) 2 (3) (7) of which: Real estate financing 8 4 12 (8) of which: Large corporate clients (56) (2) (6) (48) of which: SME clients (55) 9 6 (70) Model and methodology changes 6 (13) (2) (11) 0 Other allowance and provision movements 227 10 1 216 Write-offs / recoveries 7 200 1 0 199 Reclassifications 8 25 7 3 15 Foreign exchange movements 9 8 0 0 8 Other (6) 2 (1) (6) Balance as of 31 December 2018 (1,002) (162) (180) (661) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 Includes ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 3 Represents the increase and decrease in allowances and provisions resulting from financial instruments (including guarantees and facilities) that were newly originated, purchased or renewed and from the final derecognition of loans or facilities on their maturity date or earlier. 4 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 5 Represents the change in allowances and provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure profile, PD and LGD changes, and unwinding of the time value. 6 Represents the change in the allowances and provisions related to changes in models and methodologies. 7 Represents the decrease in allowances and provisions resulting from write-offs of the ECL allowance against the gross carrying amount when all or part of a financial asset is deemed uncollectible or forgiven. 8 Represents reclassifications to Other assets measured at amortized cost. 9 Represents the change in allowances and provisions related to movements in foreign exchange rates. d) Maximum exposure to credit risk The tables on the following pages provide the Group’s maximum exposure to credit risk for financial instruments subject to ECL and the respective collateral and other credit en hancements mitigating credit risk for these classes of financial instruments. The maximum exposure to credit risk includes the carrying amounts of financial instruments recognized on the balance sheet subject to credit risk and the notional amounts for of f-balance sheet arrangements. Where information is available, collateral is presented at fair value. For other collateral, such as real estate, a reasonable alternative value is used. Credit enhancements, such as credit derivative contracts and guarantees, are included at their notional amounts. Both are capped at the maximum exposure to credit risk for which they serve as security. The “Risk management and control” section of this report describes management’s view of credit risk and the related exposures, which can differ in certain respects from the requirements of IFRS. Maximum exposure to credit risk 31.12.18 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 108.4 108.4 Loans and advances to banks 2 16.9 0.1 16.8 Receivables from securities financing transactions 95.3 92.5 2.5 0.3 Cash collateral receivables on derivative instruments 3,4 23.6 14.5 9.1 Loans and advances to customers 5 320.4 17.0 104.4 167.1 16.2 0.0 1.2 14.3 Other financial assets measured at amortized cost 22.6 0.1 0.4 0.0 1.1 20.9 Total financial assets measured at amortized cost 587.1 17.2 197.4 167.2 19.9 14.5 0.0 1.2 169.8 Financial assets measured at fair value through other comprehensive income – debt 6.7 6.7 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 593.8 17.2 197.4 167.2 19.9 14.5 0.0 1.2 176.5 Guarantees 6 18.1 1.3 2.5 0.1 1.2 2.7 10.2 Loan commitments 6 31.2 0.4 2.8 1.5 5.7 0.2 0.7 19.8 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.9 0.9 0.0 Committed unconditionally revocable credit lines 36.6 1.1 6.5 4.2 3.9 21.0 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 86.8 2.8 12.7 5.8 10.8 0.0 0.2 3.4 51.0 Maximum exposure to credit risk (continued) 31.12.17 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 90.0 90.0 Loans and advances to banks 2 14.1 0.1 0.0 14.0 Receivables from securities financing transactions 92.0 87.2 4.3 0.4 Cash collateral receivables on derivative instruments 3,4 24.0 12.8 11.3 Loans and advances to customers 5 326.7 16.5 114.3 164.3 15.2 0.0 1.4 15.1 Other financial assets measured at amortized cost 37.8 0.1 20.0 1.1 16.7 Total financial assets measured at amortized cost 584.7 16.6 221.6 164.3 20.7 12.8 0.0 1.4 147.4 Financial assets measured at fair value through other comprehensive income – debt 8.1 8.1 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 592.8 16.6 221.6 164.3 20.7 12.8 0.0 1.4 155.6 Guarantees 6 17.7 1.0 2.1 0.2 1.3 0.0 3.1 9.9 Loan commitments 6 32.1 0.0 2.9 1.1 5.8 0.1 1.2 21.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 13.0 12.8 0.3 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 62.8 1.1 17.8 1.2 7.1 0.0 0.1 4.3 31.2 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Loans and advances to banks include amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. 6 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. Prior - period information is presented under IAS 39 requirements. e) Financial assets subject to credit risk by rating category The table below shows the credit quality and the maximum exposure to credit risk based on the Group ’s internal credit rating syste m and year-end stage classification. With the transition to IFRS 9, the credit risk rating reflects the Group ’ s assessment of the probability of default of individual counterparties, prior to substitutions. The amounts presented are gross of impairment all owances. Refer to the “ Risk management and control ” section of this report for more detail s on the Group’ s internal grading system Financial assets subject to credit risk by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount ECL allowances Net carrying amount (maximum exposure to credit risk) Financial assets measured at amortized cost Cash and balances at central banks 103,635 4,735 0 0 0 0 108,370 0 108,370 of which: stage 1 103,635 4,735 0 0 0 0 108,370 0 108,370 Loans and advances to banks 829 13,462 1,347 927 307 3 16,875 (7) 16,868 of which: stage 1 829 13,462 1,347 763 268 0 16,669 (4) 16,666 of which: stage 2 0 0 0 164 39 0 203 (1) 202 of which: stage 3 0 0 0 0 0 3 3 (3) Receivables from securities financing transactions 29,065 24,653 13,602 26,865 1,165 0 95,350 (2) 95,349 of which: stage 1 29,065 24,653 13,602 26,865 1,165 0 95,350 (2) 95,349 Cash collateral receivables on derivative instruments 5,136 10,042 5,282 3,040 101 0 23,601 0 23,602 of which: stage 1 5,136 10,042 5,282 3,040 101 0 23,601 0 23,602 Loans and advances to customers 3,642 172,742 52,566 73,863 16,014 2,297 321,124 (772) 320,352 of which: stage 1 3,621 172,002 49,277 62,305 11,111 0 298,316 (69) 298,248 of which: stage 2 20 740 3,289 11,558 4,903 0 20,510 (155) 20,357 of which: stage 3 0 0 0 0 0 2,297 2,297 (549) 1,748 Other financial assets measured at amortized cost 13,409 676 313 7,460 274 586 22,718 (155) 22,563 of which: stage 1 13,409 676 313 7,235 272 0 21,905 (43) 21,862 of which: stage 2 0 0 0 225 2 0 227 (4) 223 of which: stage 3 0 0 0 0 0 586 586 (109) 478 Total financial assets measured at amortized cost 155,716 226,310 73,110 112,155 17,861 2,886 588,039 (937) 587,104 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 3,889 2,702 0 76 0 0 6,667 0 6,667 Total on-balance sheet financial instruments 159,605 229,012 73,110 112,231 17,861 2,886 594,706 (937) 593,771 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total carrying amount (maximum exposure to credit risk) ECL provision Off-balance sheet financial instruments Guarantees 979 6,673 3,859 5,415 1,006 215 18,147 (43) of which: stage 1 978 6,670 3,849 5,012 811 17,320 (7) of which: stage 2 3 10 402 195 0 610 (2) of which: stage 3 0 0 0 0 215 215 (34) Irrevocable loan commitments 2,088 11,667 6,519 6,479 4,404 55 31,212 (37) of which: stage 1 2,088 11,667 6,519 6,296 4,019 1 30,590 (32) of which: stage 2 0 0 0 183 385 0 568 (5) of which: stage 3 0 0 0 0 53 53 0 Forward starting reverse repurchase and securities borrowing agreements 25 510 150 251 0 0 936 0 Total off-balance sheet financial instruments 3,092 18,850 10,528 12,145 5,410 270 50,295 (80) Other credit lines Committed unconditionally revocable credit lines 776 10,899 5,282 11,499 8,084 93 36,633 (35) of which: stage 1 768 10,871 5,152 10,727 7,603 35,121 (19) of which: stage 2 8 28 130 772 481 0 1,419 (16) of which: stage 3 0 0 93 93 Irrevocable committed prolongation of existing loans 27 1,346 889 902 154 21 3,339 (1) of which: stage 1 27 1,315 680 701 137 0 2,860 (1) of which: stage 2 0 31 209 200 17 0 457 0 of which: stage 3 0 0 0 21 21 0 Total other credit lines 803 12,245 6,171 12,401 8,238 114 39,972 (36) 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Financial assets subject to credit risk by rating category USD billion 31.12.17 Gross carrying amount per rating category Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount Financial assets measured at amortized cost Cash and balances at central banks 89.6 0.5 0.0 90.0 Loans and advances to banks 0.6 10.8 1.4 0.9 0.3 14.1 Receivables from securities financing transactions 24.9 37.3 17.2 10.7 1.8 92.0 Cash collateral receivables on derivative instruments 6.6 10.0 5.7 1.6 0.1 24.0 Loans and advances to customers 3.2 165.9 66.9 71.3 17.9 1.5 326.7 Other financial assets measured at amortized cost 9.4 1.1 8.9 17.1 1.0 0.3 37.8 Total financial assets measured at amortized cost 134.4 225.6 100.1 101.5 21.1 1.9 584.7 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 7.0 1.0 0.1 8.1 Total on-balance sheet financial instruments 141.4 226.6 100.1 101.6 21.1 1.9 592.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD billion 31.12.17 Gross carrying amount per rating category Total carrying amount (maximum exposure to credit risk) Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Off-balance sheet financial instruments Guarantees 1.2 8.5 4.2 2.8 0.8 0.2 17.7 Irrevocable loan commitments 2.0 13.5 7.8 5.2 3.6 32.1 Forward starting reverse repurchase and securities borrowing agreements 13.0 13.0 Total off-balance sheet financial instruments 3.2 34.9 12.0 8.1 4.4 0.2 62.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Prior - period information is present ed under IAS 39 requirements. f) Credit-impaired financial instruments at amortized cost The credit risk in the Group ’ s portfolio is actively managed by taking collateral against exposures and by utilizing credit hedging. Col lateral held against the credit- impaired loan exposure (stage 3) mainly consisted of real estate and securities. It is the Group ’ s policy to dispose of foreclosed real estate as soon as practicable. The carrying amount o f foreclosed property recorded in our balance sheet at the end of 2018 and 2017 amounted to USD 60 million and USD 61 million, respectively. The Bank seeks to liquidate collateral held in the form of financial assets expeditiously and at prices considered fair. This may require us to purchase assets for our own account, where permitted by law, pending orderly liquidation. Financial assets that are credit-impaired and related collateral held in order to mitigate potential losses are shown in the table below. USD million 31.12.18 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 3 (3) 0 0 Loans and advances to customers 2,297 (549) 1,748 1,654 of which: Private clients with mortgages 836 (39) 796 796 of which: Real estate financing 54 (16) 38 30 of which: Large corporate clients 170 (82) 88 79 of which: SME clients 888 (256) 632 561 of which: Lombard 31 (17) 14 14 Other financial assets measured at amortized cost 586 (109) 478 12 Total credit-impaired financial assets measured at amortized cost 2,886 1 (660) 1 2,226 1,666 Guarantees 215 (34) 84 of which: Large corporate clients 127 (6) 79 of which: SME clients 77 (25) 5 Loan commitments 53 0 8 Committed unconditionally revocable credit lines 93 0 9 Irrevocable committed prolongation of existing loans 22 0 0 Total off-balance sheet financial instruments and other credit lines 383 1 (34) 1 102 31.12.17 USD million Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to customers 1,104 (672) 432 210 Guarantees and loan commitments 204 (34) 5 Total credit-impaired financial assets 1,308 2 (706) 2 432 215 1 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. 2 December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. g) Sensitivity analysis As outlined in Note 1a, ECL estimates involve significant uncertainties at the time they are made. ECL model The models applied to determine point-in-time PD and LGD rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogeneous segments. The risk sensitivity of each of our IFRS 9 reporting segments to such factors has been summar ized in Note 10. Emerging new systematic risk factors may not be sufficiently taken into account by existing models and affect their responsiveness to a changing environment. This risk is deemed to be immaterial and monitored through regular model review p rocesses; in particular, it is deemed to be of less importance for the large books of mortgage loans , where risk drivers tend to be stable. Statistically derived models, which perform well on a reasonably sized and homogeneous portfoli o, may show weakness in smaller- sized sub-portfolios, for which other or differently weighted factors may be more relevant criteria. Where risk experts conclude that the output of a general model is not in line with what they would have expected for a specific portfolio segmen t, and that this would be material for ECL, overlays would be recommended based on management judgment. ECL estimations for segments where the PD is homogeneous, but the credit exposure is not, may prove to be inaccurate – even though all parameters were a ccurately predicted – as the actual amount of loss depends on the exposure of the position that defaulted. This observation is less relevant in retail-type portfolios with smaller individual exposures from mortgage loans or financings of SME, but may becom e important in the large corporate client portfolios in the Investment Bank and P ersonal & Corporate Banking . Forward-looking scenarios Depending on the scenario selection and related macro-economic assumptions for the risk factors, the components of the relevant weighted average ECL change. This is particularly relevant for interest rates, which can take both directions under a given growth assumption (for example, low growth with high interest rates in a stagflation scenario, versus low growth and fallin g interest rates in a recession). Management will look for scenario narratives that are expected to address the risks of a credit portfolio, while at the same time meeting the require ments of IFRS 9 to avoid bias. As forecasting models are complex due to t he combinati on of multiple factors, simple what-if analyses by changing individual parameters do not provide reasonable information on the exposure of s egments to changes in the macro economy. Portfolio-specific analyses based on their key risk factors woul d also not be additive as potential compensatory effects in other segments would be ignored. Sensitivities at Group level can only be meaningfully assessed in the context of coherent scenarios wi th consistently developed macro economic factors. The table b elow indicates the potential effect of changing economic conditions on ECL for stage 1 and stage 2 positions by disclosing for each scenario (see Note 23b) and material portfolio the corresponding ECL output. The effect of applying scenarios is not linear across the portfolio, with a significant impact observed in the mortgage loan books as the potential effect of rising interest rates manifests itself in the mild downside scenario, with high unemployment rates combined with a marked correction of house pri ces contributing to high expected losses in the severe downside scenario. Potential effect of changing economic conditions Scenarios Weighted average Baseline Upside Mild downside Severe downside USD million, unless otherwise indicated ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline Segmentation Private clients with mortgages 102 275 37 100 29 78 173 468 365 988 Real estate financing 61 150 41 100 32 79 80 198 119 293 Large corporate clients 47 133 35 100 31 89 46 130 108 308 SME clients 34 118 29 100 28 97 39 135 63 216 Other segments 115 122 95 100 83 88 135 142 171 180 Total 359 152 237 100 204 86 473 200 826 349 The forecasting horizon is limited to three years, with a model-based mean reversion of PD and LGD assumed thereafter. Changes to these timelines may hav e an effect on ECL; depending on the cycle, a longer or shorter forecasting horizon will lead to different annualized lifetime PD and average LGD estimations. This is currently not deemed to be material for UBS as a large share of positions, including mort gages in Switzerland, have a maturity that is within the forecasting horizon. Scenario weights ECL is sensitive to changing scenario weights, in particular, if narratives and parameters are selected that are not close to the baseline scenario, highlighting the non-linearity of credit losses. As shown in the table on the previous page, the ECL for stage 1 and stage 2 positions would have been USD 237 million instead of USD 359 million if ECL had been determined solely on the baseline scenario. The weighted a verage ECL amounts therefore to 152% of the baseline value. Stage allocation and SICR The determination of what constitutes an S ICR is based on management judg ment as explained in Note 1a. Changing the SIC R trigger will have a direct effect on ECL as more or fewer positions would be subject to l ifetime ECL under any scenario. Maturity profile The maturity profile of the assets is an important driver for changes in ECL due to transfers to stage 2. The current maturity profile of most lending books is relativ ely short; hence a movement to stage 2 may have a limited effect on ECL. A significant portion of our lending to SME is documented under frame credit agreements, which allow for various forms of util ization but are unconditionally cancel able by UBS at any time. The relevant maturity for drawings under such agreements with a fixed maturity is the respective term, or maximum 12 months in stage 1. For unused credit lines and all drawings that have no fixed maturity (e.g. , current accounts), UBS generally appli es a 12-month maturity from the reporting date, given the credit review policies, which require either continuous monitoring of key indicators and behavioral patterns for smaller positions or an annual formal review for any other limit. The ECL for these p roducts is sensitive to shortening or extending the maturity assumption. |
UBS AG | |
Disclosure Of Provision Matrix [Line Items] | |
Disclosure Of Financial Assets Explanatory | Additional information Note 23 Expected credit loss measurement a) Expected credit losses in the period Total net credit loss expenses amounted to USD 118 million in 2018, reflecting expected credit losses (ECL) of USD 23 million related to stage 1 and 2 positions and net losses of USD 95 million related to credit - impaired (stage 3) positions. In the Investment Bank and Global Wealth Management, inc reased stage 1 and 2 ECL provisions recognized over the year primarily relate to loans and credit fa cilities originated during 2018 and to a lesser extent to changes in credit quality of existing assets. In Personal & Corporate Banking , ECL remained unchan ged over the year primarily because increased ECL from new transactions and minor changes in appl ied credit risk models were off set by ECL net recoveries as a lower proportion of transactions was subject to stage 2 classification . Stage 3 net losses of USD 95 million were recognized across a number of defaulted positions, mainly in Personal & Corporate Banking (USD 56 million) and to a lesser extent in the Investment Bank (USD 29 million). b) Changes to ECL models, scenarios, scenario weights and key inputs Refer to Note 1a and 1c for information on ECL models, scenarios, scenario weights and key inputs applied at transition to IFRS 9 as of 1 January 2018. No changes were applied to the determination of a significant increase in credit risk (SICR) and the ECL measurement period during the year 2018. Apart from updating market data, such as house prices, equity indices and foreign exchange rates, and macroeconomic factors, such as gross domestic product (GD P) and unemployment rates, no significant changes were applied to the models used to calculate ECL during the year 2018. The four scenarios and the related macroeconomic factors were reviewed in light of the economic and political conditions prevailing at year-end 2018. UBS has determined that the fundamental risk assessment made upon transition to IFRS 9 on 1 January 2018 is still appropriate and that potential developments remain suitably covered by the baseline scenario, which is aligned with the busines s plan, and the three additional scenarios introduced to capture potential non-linearity of credit losses required under IFRS 9. The key parameters (e.g. , the real GDP growth, consumer price inflation, unemployment rate) of each scenario have been updated over the course of the year, but remained materially unchanged from what was applied at transition (refer to Note 1c). The key parameters applied as of 31 December 2018 are summarized in the table on the following page . The determination of the scenario we ights is subject to the process and governance outlined in Note 1a Section 3g . An econometric model is used to provide an input into the scenari o weight assessment process giv ing a first indication of the probability that the GDP forecast used for each sce nario would materialize, if historically observed deviations of GDP growth from trend growth were representative. As such historical analyses of GDP d evelopment do not include an as sessment of the underlying economic or political causes, management positio ns the model output into the context of current conditions and future expectations and applies judgment in determining the final scenario weights. The reviews during 2018 reflected the increasing probability of a weakening economy in key markets, after a l ong spell of substantial expansion, and the uncertainties about the influence that several political developments with unforeseeable outcomes may have on future growth. At ye ar-end 2018, management reflected these developments by giving more weight to the mild and severe downside scenarios compared to transition date . Non-linearity of credit losses in relation to macroeconomic factors is usually most pronounced in portfolios that are most sensitive to interest rates, especially in the areas of mortgage loan s to private clients and real estate financing. The mild downside scenario reflects a significant rise of interest rates as a key component and is also particularly relevant for credit risk management purposes. As noted above , s cenario weights are a refle ction of risks identified during management’s assessment of economic and geopolitical risks and not a specific expectation that a particular n arrative with its defined macro economic factors (e.g. , interest rates) will materialize. Other scenarios for a mil d downside with less focus on interest rates would, however, not have been representative of the potential asymmetry of loan losses in a downturn. A more severe recession can be triggered by political factors that cannot be modeled based on observed histor y; given this consideration, the weight assigned to the severe downside case was based on management’s assessment of the geopolitical risks that might affect all of our key markets and portfolios. ECL scenario Assigned weights in % 31.12.18 1.1.18 Upside 10.0 20.0 Baseline 45.0 42.5 Mild downside 35.0 30.0 Severe downside 10.0 7.5 1-year shock 3-year cumulative shock Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 5.5 2.8 (0.5) (5.2) 9.9 7.0 0.0 (3.6) Eurozone 4.3 1.8 (0.3) (10.4) 8.5 4.7 0.7 (13.4) Switzerland 5.0 2.0 (0.8) (7.0) 9.4 5.5 (0.1) (6.9) Consumer price inflation (% change) United States 3.5 2.1 4.9 (1.0) 10.4 5.5 11.1 0.6 Eurozone 2.4 1.6 2.8 (1.1) 8.1 5.3 6.2 (1.4) Switzerland 1.4 0.9 1.8 (1.8) 7.1 2.8 4.2 (1.2) Unemployment rate (%, average) United States (1.7) (0.6) 0.6 3.4 (1.5) (0.5) 1.8 2.9 Eurozone (1.0) (0.5) 0.0 3.2 (1.9) (0.9) 0.1 3.7 Switzerland (1.5) (0.3) 0.6 4.3 (1.4) 0.1 1.6 5.3 Fixed income: 10-year government bonds (bps) USD 61.0 3.9 187.5 (160.0) 249.1 5.7 262.5 (135.0) EUR 40.0 22.0 75.0 (20.0) 146.7 60.7 225.0 (10.0) CHF 48.0 19.7 187.5 (75.0) 208.0 53.2 262.5 (40.0) Equity indices (% change) S&P 500 14.8 5.8 (20.3) (50.1) 38.7 15.1 (23.5) (48.2) EuroStoxx 50 17.0 6.0 (15.5) (63.7) 38.4 15.6 (14.7) (65.9) SPI 13.9 4.2 (19.0) (56.2) 37.1 10.4 (24.0) (56.7) Swiss real estate (% change) Single-Family Homes 4.5 (0.3) (7.3) (15.2) 14.1 1.4 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 10.3 6.9 (2.7) (16.0) 30.9 17.7 (17.0) (22.1) Eurozone (Housing Price Index) 4.9 1.9 (0.2) (9.5) 15.4 8.2 3.0 (18.3) c) Development of ECL allowances and provisions The ECL allowances and provisions recognized in the period are impacted by a variety of factors, such as : origination of new instruments during the period; e ffect of passage of time as the ECL on an instrument for the remaining lifetime reduces (all other factors remaining the same); credit impairment: in creased ECL as default is certain and PD increases to 100%; discount unwind within ECL as it is measured on a present value basis; derecognition of instruments in the period; change in individual asset quality of instruments; portfolio effect of updating f orward-looking scenarios and the respective weights; movements from a “ maximum 12-month ECL ” to the recognition of “ lifetime ECL ” (and vice versa) following transfers between the stages 1, 2 and 3 (SICR or credit-impairment status); changes in credit risk and / or economic forecasting models or updates to model parameters; foreign exchange translations for assets denominated in foreign currencies and other movements. The following table explains the changes in the ECL allowances and provisions for Loans and advances to customers, Loans to financial advisors and off-balance sheet financial ins truments and other credit lines between the beginning and the end of the period due to the factors listed on the previous page. Development of ECL allowances and provisions USD million Total Stage 1 Stage 2 Stage 3 Balance as of 1 January 2018 (1,117) (141) (193) (783) ECL movements due to stage transfer (profit or loss neutral) 1 0 (97) 95 2 ECL movements with profit or loss impact 2 (104) 66 (83) (88) Net movement from new and derecognized transactions 3 (10) (44) 15 19 of which: Private clients with mortgages (3) (6) 4 0 of which: Real estate financing (3) (8) 5 0 of which: Large corporate clients 2 (6) 1 8 of which: SME clients (10) (14) 4 0 Book quality movements (89) 112 (87) (114) Remeasurements due to stage transfers 4 (16) 95 (103) (7) of which: Private clients with mortgages (11) 54 (63) (1) of which: Real estate financing 5 24 (19) 0 of which: Large corporate clients (1) 0 (3) 1 of which: SME clients 1 7 (7) 0 Remeasurements without stage transfers 5 (73) 17 16 (106) of which: Private clients with mortgages (9) 2 (3) (7) of which: Real estate financing 8 4 12 (8) of which: Large corporate clients (56) (2) (6) (48) of which: SME clients (55) 9 6 (70) Model and methodology changes 6 (13) (2) (11) 0 Other allowance and provision movements 227 10 1 216 Write-offs / recoveries 7 200 1 0 199 Reclassifications 8 25 7 3 15 Foreign exchange movements 9 8 0 0 8 Other (6) 2 (1) (6) Balance as of 31 December 2018 (1,002) (162) (180) (661) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 Includes ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 3 Represents the increase and decrease in allowances and provisions resulting from financial instruments (including guarantees and facilities) that were newly originated, purchased or renewed and from the final derecognition of loans or facilities on their maturity date or earlier. 4 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 5 Represents the change in allowances and provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure profile, PD and LGD changes, and unwinding of the time value. 6 Represents the change in the allowances and provisions related to changes in models and methodologies. 7 Represents the decrease in allowances and provisions resulting from write-offs of the ECL allowance against the gross carrying amount when all or part of a financial asset is deemed uncollectible or forgiven. 8 Represents reclassifications to Other assets measured at amortized cost. 9 Represents the change in allowances and provisions related to movements in foreign exchange rates. d) Maximum exposure to credit risk The tables on the following pages provide UBS AG’s maximum exposure to credit risk for financial instruments subject to ECL and the respective collateral and other credit enhancements mitigating credit risk for these classes of financial instruments. The maximum exposure to credit risk includes the carrying amounts of financial instruments recognized on the bala nce sheet subject to credit risk and the notional amounts for off-balance sheet arrangements. Where information is available, collateral is presented at fair value. For other collateral, such as real estate, a reasonable alternative value is used. Credit e nhancements, such as credit derivative contracts and guarantees, are included at their notional amounts. Both are capped at the maximum exposure to credit risk for which they serve as security. The “Risk management and control” section of this report descr ibes management’s view of credit risk and the related exposures, which can differ in certain respects from the requirements of IFRS. Maximum exposure to credit risk 31.12.18 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 108.4 108.4 Loans and advances to banks 2 16.6 0.1 16.6 Receivables from securities financing transactions 95.3 92.5 2.5 0.3 Cash collateral receivables on derivative instruments 3,4 23.6 14.5 9.1 Loans and advances to customers 5 321.5 17.7 104.4 167.1 16.2 0.0 1.2 14.8 Other financial assets measured at amortized cost 22.6 0.1 0.4 0.0 1.1 21.0 Total financial assets measured at amortized cost 588.1 17.8 197.4 167.2 19.9 14.5 0.0 1.2 170.2 Financial assets measured at fair value through other comprehensive income – debt 6.7 6.7 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 594.8 17.8 197.4 167.2 19.9 14.5 0.0 1.2 176.9 Guarantees 6 18.1 1.3 2.5 0.1 1.2 2.7 10.2 Loan commitments 6 31.2 0.4 2.8 1.5 5.7 0.2 0.7 19.8 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.9 0.9 0.0 Committed unconditionally revocable credit lines 38.8 1.1 6.5 4.2 3.9 23.2 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 89.0 2.8 12.7 5.8 10.8 0.0 0.2 3.4 53.2 Maximum exposure to credit risk (continued) 31.12.17 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 90.0 90.0 Loans and advances to banks 2 14.0 0.0 0.1 0.0 13.9 Receivables from securities financing transactions 92.0 87.2 4.3 0.4 Cash collateral receivables on derivative instruments 3,4 24.0 12.8 11.3 Loans and advances to customers 5 329.0 18.3 114.3 164.3 15.2 0.0 1.4 15.5 Other financial assets measured at amortized cost 37.9 0.1 20.0 0.0 1.1 16.7 Total financial assets measured at amortized cost 586.9 18.4 221.6 164.3 20.7 12.8 0.0 1.4 147.8 Financial assets measured at fair value through other comprehensive income – debt 8.1 8.1 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 595.1 18.4 221.6 164.3 20.7 12.8 0.0 1.4 155.9 Guarantees 6 17.7 1.0 2.1 0.2 1.3 3.1 9.9 Loan commitments 6 32.1 0.0 2.9 1.1 5.8 0.1 1.2 21.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 13.0 12.8 0.3 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 62.8 1.1 17.8 1.2 7.1 0.0 0.1 4.3 31.2 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Loans and advances to banks include amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. 6 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. Prior- period information is presented under IAS 39 requirements. e) Financial assets subject to credit risk by rating category The table below shows the credit quality and the maximum expos ure to credit risk based on UBS AG ’s internal credit rating system and year-end stage classification. With the transition to IFRS 9, the credit risk rating reflects UBS AG ’ s assessment of the probability of default of individual counterpartie s, prior to substitutions. The amounts presented are gross of impairment allowances. Refer to the “ Risk management and control ” section of this report for more detail s on UBS AG’ s internal grading system Financial assets subject to credit risk by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount ECL allowances Net carrying amount (maximum exposure to credit risk) Financial assets measured at amortized cost Cash and balances at central banks 103,635 4,735 0 0 0 0 108,370 0 108,370 of which: stage 1 103,635 4,735 0 0 0 0 108,370 0 108,370 Loans and advances to banks 829 13,286 1,302 922 307 3 16,649 (8) 16,641 of which: stage 1 829 13,286 1,302 758 268 0 16,443 (4) 16,439 of which: stage 2 0 0 0 164 39 0 203 (1) 202 of which: stage 3 0 0 0 0 0 3 3 (3) 0 Receivables from securities financing transactions 29,065 24,653 13,602 26,866 1,165 0 95,351 (2) 95,349 of which: stage 1 29,065 24,653 13,602 26,866 1,165 0 95,351 (2) 95,349 Cash collateral receivables on derivative instruments 5,136 10,044 5,282 3,040 101 0 23,603 0 23,603 of which: stage 1 5,136 10,044 5,282 3,040 101 0 23,603 0 23,603 Loans and advances to customers 3,641 173,454 52,806 74,042 16,014 2,297 322,255 (772) 321,482 of which: stage 1 3,621 172,714 49,517 62,484 11,111 0 299,448 (69) 299,379 of which: stage 2 20 740 3,289 11,558 4,903 0 20,510 (155) 20,355 of which: stage 3 0 0 0 0 0 2,297 2,297 (549) 1,748 Other financial assets measured at amortized cost 13,409 682 316 7,525 274 586 22,792 (156) 22,636 of which: stage 1 13,409 682 316 7,300 272 0 21,979 (43) 21,936 of which: stage 2 0 0 0 225 2 0 227 (4) 223 of which: stage 3 0 0 0 0 0 586 586 (109) 477 Total financial assets measured at amortized cost 155,715 226,854 73,308 112,395 17,861 2,886 589,020 (937) 588,081 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 3,889 2,702 0 76 0 0 6,667 0 6,667 Total on balance sheet financial instruments 159,604 229,556 73,308 112,471 17,861 2,886 595,687 (937) 594,748 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total carrying amount (maximum exposure to credit risk) ECL provision Off-balance sheet financial instruments Guarantees 978 6,673 3,859 5,415 1,006 215 18,146 (43) of which: stage 1 978 6,670 3,849 5,013 811 17,321 (7) of which: stage 2 3 10 402 195 0 610 (2) of which: stage 3 0 0 0 0 215 215 (34) Irrevocable loan commitments 2,088 11,667 6,519 6,480 4,405 53 31,212 (37) of which: stage 1 2,088 11,667 6,519 6,297 4,020 0 30,591 (32) of which: stage 2 0 0 0 183 385 0 568 (5) of which: stage 3 0 0 0 0 53 53 0 Forward starting reverse repurchase and securities borrowing agreements 25 510 150 254 0 0 939 0 Total off balance sheet financial instruments 3,091 18,850 10,528 12,148 5,411 268 50,296 (80) Other credit lines Committed unconditionally revocable credit lines 776 12,426 5,332 12,140 8,084 93 38,851 (35) of which: stage 1 768 12,398 5,202 11,367 7,603 37,338 (19) of which: stage 2 8 28 130 773 481 0 1,420 (16) of which: stage 3 0 0 93 93 Irrevocable committed prolongation of existing loans 27 1,346 889 901 154 22 3,339 (1) of which: stage 1 27 1,315 680 701 137 0 2,860 (1) of which: stage 2 0 31 209 200 17 0 457 0 of which: stage 3 0 0 0 22 22 0 Total other credit lines 803 13,772 6,221 13,041 8,238 115 42,190 (36) 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Financial assets subject to credit risk by rating category USD billion 31.12.17 Gross carrying amount per rating category Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount Financial assets measured at amortized cost Cash and balances at central banks 89.6 0.5 0.0 90.0 Loans and advances to banks 0.6 10.8 1.4 0.9 0.3 14.1 Receivables from securities financing transactions 24.9 37.3 17.2 10.7 1.8 92.0 Cash collateral receivables on derivative instruments 6.6 10.0 5.7 1.6 0.1 24.0 Loans and advances to customers 3.2 165.9 66.9 71.3 17.9 1.5 326.7 Other financial assets measured at amortized cost 9.4 1.1 8.9 17.1 1.0 0.3 37.8 Total financial assets measured at amortized cost 134.4 225.6 100.1 101.5 21.1 1.9 584.7 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 7.0 1.0 0.1 8.1 Total on-balance sheet financial instruments 141.4 226.6 100.1 101.6 21.1 1.9 592.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD billion 31.12.17 Gross carrying amount per rating category Total carrying amount (maximum exposure to credit risk) Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Off-balance sheet financial instruments Guarantees 1.2 8.5 4.2 2.8 0.8 0.2 17.7 Irrevocable loan commitments 2.0 13.5 7.8 5.2 3.6 32.1 Forward starting reverse repurchase and securities borrowing agreements 13.0 13.0 Total off-balance sheet financial instruments 3.2 34.9 12.0 8.1 4.4 0.2 62.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Prior- period information is present ed under IAS 39 requirements. f) Credit-impaired financial instruments at amortized cost The credit risk in UBS AG’ s portfolio is actively managed by taking collateral against exposures and by utilizing credit hedging. Col lateral held against the credit- impaired loan exposure (stage 3) mainly consisted of real estate and securities . It is UBS AG’ s policy to dispose of foreclosed real estate as soon as practicable. The carrying a mount of foreclosed property recorded in our balance sheet at the end of 2018 and 2017 amounted to USD 60 million and USD 61 million, respectively. The Bank seeks to liquidate collateral held in the form of financial assets expeditiously and at prices cons idered fair. This may require us to purchase assets for our own account, where permitted by law, pending orderly liquidation. Financial assets that are credit-impaired and related collateral held in order to mitigate potential losses are shown in the table below. USD million 31.12.18 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 3 (3) 0 0 Loans and advances to customers 2,297 (549) 1,748 1,654 of which: Private clients with mortgages 836 (39) 796 796 of which: Real estate financing 54 (16) 38 30 of which: Large corporate clients 170 (82) 88 79 of which: SME clients 888 (256) 632 561 of which: Lombard 31 (17) 14 14 Other financial assets measured at amortized cost 586 (109) 478 12 Total credit-impaired financial assets measured at amortized cost 2,886 1 (660) 1 2,226 1,666 Guarantees 215 (34) 84 of which: Large corporate clients 127 (6) 79 of which: SME clients 77 (25) 5 Loan commitments 53 0 8 Committed unconditionally revocable credit lines 93 0 9 Irrevocable committed prolongation of existing loans 22 0 0 Total off-balance sheet financial instruments and other credit lines 383 1 (34) 1 102 31.12.17 USD million Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to customers 1,104 (672) 432 210 Guarantees and loan commitments 204 (34) 5 Total credit-impaired financial assets 1,308 2 (706) 2 432 215 1 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. 2 December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. g) Sensitivity analysis As outlined in Note 1a, ECL estimates involve significant uncertainties at the time they are made. ECL model The models applied to determine point-in-time PD and LGD rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogeneous segments. The risk sensitivity of each of our IFRS 9 reporting segments to such factors has been summar ized in Note 10. Emerging new systematic risk factors may not be sufficiently taken into account by existing models and affect their responsiveness to a changing environment. This risk is deemed to be immaterial and monitored through regular model review p rocesses; in particular, it is deemed to be of less importance for the large books of mortgage loans , where risk drivers tend to be stable. Statistically derived models, which perform well on a reasonably sized and homogeneous portfoli o, may show weakness in smaller- sized sub-portfolios, for which other or differently weighted factors may be more relevant criteria. Where risk experts conclude that the output of a general model is not in line with what they would have expected for a specific portfolio segmen t, and that this would be material for ECL, overlays would be recommended based on management judgment. ECL estimations for segments where the PD is homogeneous, but the credit exposure is not, may prove to be inaccurate – even though all parameters were a ccurately predicted – as the actual amount of loss depends on the exposure of the position that defaulted. This observation is less relevant in retail-type portfolios with smaller individual exposures from mortgage loans or financings of SME, but may becom e important in the large corporate client portfolios in the Investment Bank and Personal & Corporate Banking. Forward-looking scenarios Depending on the scenario selection and related macro-economic assumptions for the risk factors, the components of the relevant weighted average ECL change. This is particularly relevant for interest rates, which can take both directions under a given growth assumption (for example , low growth with high interest rates in a stagflation scenario, versus low growth and falli ng interest rates in a recession). Management will look for scenario narratives that are expected to address the risks of a credit portfolio, while at the same time meeting the requirements of IFRS 9 to avoid bias. As forecasting models are complex due t o the combination of multiple factors, simple what-if analyses by changing individual parameters do not provide reasonable information on the exposure of s egments to changes in the macro economy. Portfolio-specific analyses based on their key risk factors w ould also not be additive as potential compensatory effects in other segments would be ignored. Sensitivities at the UBS AG level can only be meaningfully assessed in the context of coherent scenarios with consistently developed macro economic factors. The table below indicates the potential effect of changing economic conditions on ECL for stage 1 and stage 2 positions by disclosing for each scenario (see Note 23b ) and material portfolio the corresponding ECL output. The effect of applying scenarios is no t linear across the portfolio, with a significant impact observed in the mortgage loan books as the potential effect of rising interest rates manifests itself in the mild downside scenario, with high unemployment rates combined with a marked correction of house prices contributing to high expected losses in the severe downside scenario. Potential effect of changing economic conditions Scenarios Weighted average Baseline Upside Mild downside Severe downside USD million, unless otherwise indicated ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline Segmentation Private clients with mortgages 102 275 37 100 29 78 173 468 365 988 Real estate financing 61 150 41 100 32 79 80 198 119 293 Large corporate clients 47 133 35 100 31 89 46 130 108 308 SME clients 34 118 29 100 28 97 39 135 63 216 Other segments 115 122 95 100 83 88 135 142 171 180 Total 359 152 237 100 204 86 473 200 826 349 The forecasting horizon is limited to three years, with a model-based mean reversion of PD and LGD assumed th ereafter. Changes to these time lines may have an effect on ECL; depending on the cycle , a longer or shorter forecasting horizon will lead to different annualized lifetime PD and average LGD estimations. This is currently not deemed to be material for UBS AG as a large share o f positions, including mortgages in Switzerland, have a maturity that is within the forecasting horizon. Scenario weights ECL is sensitive to changing scenario weights, in particular, if narratives and parameters are selected that are not close to the base line scenario highlighting the non-linearity of credit losses. As shown in the table on the previous page, the ECL for stage 1 and stage 2 positions would have been USD 237 million instead of USD 359 million if ECL had been determined solely on the baselin e scenario. The weighted average ECL amounts therefore to 152% of the baseline value. Stage allocation and SICR The determination of what constitutes an SICR is based on management judgment as explained in Not e 1a. Changing the SICR trigger will have a dir ect effect on ECL as more or fewer positions would be subject to l ifetime ECL under any scenario. Maturity profile Th e maturity profile of the assets is an important driver for changes in ECL due to transfers to stage 2. The current maturity profile of most lending books is relatively short; hence a movement to stage 2 may have a limited effect on ECL. A significant port ion of our lending to SME is documented under frame credit agreements, which allow for various forms of utilization but are unconditionally cancel able by UBS AG at any time. The relevant maturity for drawings under such agreements with a fixed maturity is the respective term, or maximum 12 months in stage 1. For unused credit lines and all drawings that have no fixed maturity (e.g. , current accounts), UBS AG generally applies a 12 - month maturity from the reporting date, given the credit review policies, whi ch require either continuous monitoring of key indicators and behavioral patterns for smaller positions or an annual formal review for any other limit. The ECL for these products is sensitive to shortening or extending the maturity assumption. |
Fair value measurement
Fair value measurement | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Explanatory | Note 24 Fair value measurement This Note provides fair value measurement information for both financial and non-financial instruments and is structured as follows: a) Valuation principles b) Valuation governance c) Fair value hierarchy d) Valuation adjustments e) Transfers between Level 1 and Level 2 f) Level 3 instruments: valuation techniques and inputs g) Level 3 instru ments: sensitivity to changes in unobservable input assumptions h) Level 3 instruments: movements during the period i) Maximum exposure to credit risk for financial instruments measured at fair value j) Financial instruments not measured at fair value Adoption of IFRS 9 Adoption of IFRS 9 on 1 January 2018 resulted in the reclassification of certain financial assets and liabilities from amortized cost to fair value through profit or loss. This inc luded: brokerage receivables and payables held in the Investment Bank and Global Wealth Management; auction rate securities held in Corporate Center; and certain loans held in the Investment Bank. Some of those financial assets and liabilities are designa ted as Level 3 in the fair value hierarchy. Refer to the tables and text within this Note for more information. An immaterial amount of financial assets were reclassified from Financial assets at fair value held for trading and Financial assets at fair val ue not held for trading to Loans and advances to customers upon adoption of IFRS 9. An immaterial amount of associated loan commitments, which were recognized as derivative liabilities as of 31 December 2017, were also derecognized from the balance sheet. No material fair value gains or losses would have been recognized in the income statement in 2018 had these instruments not been reclassified. Similarly, no material fair value gains or losses would have been recognized in Other comprehensive income related to debt instruments that were reclassified from Financial assets available for sale to Other financial assets measured at amortized cost upon adoption of IFRS 9. Refer to Note 1c for more information a) Valuation pr inciples Fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market (or most advantageous market, in the absence of a principal market) as of the measurement date. In measuring fair value, the Group uses various valuation approaches and applies a hierarchy for prices and inputs that maximizes the use of observable market data, if available. All financial and non-financial assets and liabilities measured or disclosed at fair value are categorized into one of three fair value hierarchy levels. In certain cases, the inputs used to measure fair value may fall within different levels of the fair valu e hierarchy. For disclosure purposes, the level in the hierarchy within which the instrument is classified in its entirety is based on the lowest level input that is significant to the position’s fair value measurement: Level 1 – quoted prices (unadjusted) in active markets for identical assets and liabilities; Level 2 – valuation techniques for which all significant inputs are, or are based on, observable market data; or Level 3 – valuation techniques for which significant inputs are not based on observabl e market data. If available, fair values are determined using quoted prices in active markets for identical assets or liabilities. An activ e market is one in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing data on an ongoing basis. Assets and liabilities that are quoted and traded in an active market are valued at the currently quoted price multiplied by the number of units of the instrument held. Where the market for a financial instrument or non-financial asset or liability is not active, fair value is established using a valuation technique, including pricing models. Valuation techniques involve the use of estimates, the extent of which depends on the complexity of the instrument and the availability of market-based data. Valuation adjustments may be made to allow for additional factors, including model, liquidity, credit and funding risks, which are not explicitly captured within the valuation technique, but which would nevertheless be considered by market participants when establishing a price. The limitations inherent in a particular valuation technique are considered in the determination of an asset or liability’s classification within the fair value hierarchy. Many cash instruments and over-the-counter (OTC) derivative contracts have bid and offer prices that can be observed in the marketplace. Bid prices reflect the highes t price that a party is willing to pay for an asset. Offer prices represent the lowest price that a party is willing to accept for an asset. In general, long positions are measured at a bid price and short positions at an offer price, reflecting the prices at which the instruments could be transferred under normal market conditions. Offsetting positions in the same financial instrument are marked at the mid-price within the bid-offer spread. Generally, the unit of account for a financial instrument is the i ndividual instrument, and UBS applies valuation adjustments at an individual instrument level, consistent with that unit of account. However, if certain conditions are met, UBS may estimate the fair value of a portfolio of financial assets and liabilities with substantially similar and offsetting risk exposures on the basis of the net open risks. For transactions where the valuation technique used to measure fair value requires significant inputs that are not based on observable market data, the financial i nstrument is initially recognized at the transaction price. This initial recognition amount may differ from the fair value obtained using the valuation technique. Any such difference is deferred and not recognized in the income statement and referred to as deferred day-1 profit or loss. Refer to Note 24 d for more information b) Valuation governance UBS’s fair value measurement and model governance framework includes numerous controls and other procedural safeguards that are intended to maximize the quality of fair value measurements reported in the financial statements. New products and valuation techniques must be reviewed and approved by key stakeholders from risk and finance control functions. Responsibility for the ongoing measurement of financial and non-financial instruments at fair value resides with the business divisions. In carrying out their valuation responsibilities , the businesses are required to consider the availability and quality of external market data and to provide justification and rationale for their fair value estimates. Fair value estimates are validated by risk and finance control functions, which are i ndependent of the business divisions. Independent price verification is performed by Finance through benchmarking the business divisions’ fair value estimates with observable market prices and other independent sources. Controls and a governance framework are in place and are intended to ensure the quality of third-party pricing sources where used. For instruments where valuation models are used to determine fair value, independent valuation and model control groups within Finance and Risk Control evaluate UBS’s models on a regular basis, including valuation and model input parameters as well as pricing. As a result of the valuation controls employed, valuation adjustments may be made to the business divisions’ estimates of fair value to align with independe nt market data and the relevant accounting standard. Refer to Note 24 d for more information c) Fair value hierarchy The table below provides the fair value hierarchy classification of financial and non-financial assets and liabilities measured at fair value. The narrative that follows describes the different product types, valuation techniques used in measuring their fair value, including significant valuation inputs and assumptions used, and the factors determining their classification within the fair value hierarchy. Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,452 13,956 1,962 104,370 111,780 15,604 2,023 129,407 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,559 651 6,768 38 8,180 566 8,785 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,266 455 46 72,768 81,324 190 108 81,623 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,033 1,424 126,210 470 119,227 1,589 121,285 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,148 30 53,489 212 47,957 194 48,363 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,819 4,413 82,690 23,628 35,373 1,456 60,457 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 428 109 710 210 387 0 597 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,280 202,077 7,800 341,156 143,636 175,550 5,631 324,818 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,406 4,468 69 28,943 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,306 537 42 21,886 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,849 2,879 119,137 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,318 125 46,662 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,986 244,465 14,260 283,711 27,119 174,538 16,157 217,813 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques Valuation techniques are used to value positions for which a market price is not available from market sources. This includes certain less liquid debt and equity instruments, certain exchange-traded derivatives and all derivatives transacted in the OTC market. UBS uses widely recognized valuation techniques for determining the fair value of financial and non-financial instruments that are not actively traded and quoted. The most frequently applied val uation techniques include discounted value of expected cash flows, relative value and option pricing methodologies. Discounted value of expected cash flows is a valuation technique that measures fair value using estimated expected future cash flows from as sets or liabilities and then discounts these cash flows using a discount rate or discount margin that reflects the credit and / or funding spreads required by the market for instruments with similar risk and liquidity profiles to produce a present value. W hen using such valuation techniques, expected future cash flows are estimated using an observed or implied market price for the future cash flows or by using industry standard cash flow projection models. The discount factors within the calculation are gen erated using industry standard yield curve modeling techniques and models. Relative value models measure fair value based on the market prices of equivalent or comparable assets or liabilities, making adjustments for differences between the characteristics of the observed instrument and the instrument being valued. Option pricing models incorporate assumptions regarding the behavior of future price movements of an underlying referenced asset or assets to generate a probability-weighted future expected payof f for the option. The resulting probability-weighted expected payoff is then discounted using discount factors generated from industry standard yield curve modeling techniques and models. The option pricing model may be implemented using a closed-form anal ytical formula or other mathematical techniques (e.g., binomial tree or Monte Carlo simulation). Where available, valuation techniques use market-observable assumptions and inputs. If such data is not available, inputs may be derived by reference to simila r assets in active markets, from recent prices for comparable transactions or from other observable market data. In such cases, the inputs selected are based on historical experience and practice for similar or analogous instruments, derivation of input le vels based on similar products with observable price levels and knowledge of current market conditions and valuation approaches. For more complex instruments and instruments not traded in an active market, fair values may be estimated using a combination o f observed transaction prices, consensus pricing services and relevant quotes. Consideration is given to the nature of the quotes (e.g., indicative or firm) and the relationship of recently evidenced market activity to the prices provided by consensus pric ing services. UBS also uses internally developed models, which are typically based on valuation methods and techniques recognized as standard within the industry. Assumptions and inputs used in valuation techniques include benchmark interest rate curves, c redit and funding spreads used in estimating discount rates, bond and equity prices, equity index prices, foreign exchange rates, levels of market volatility and correlation. Refer to Note 2 4 f for more information. The discount curves used by the Group inc orporate the funding and credit characteristics of the instruments to which they are applied. Financial instruments excluding derivatives: product description, valuation and classification in the fair value hierarchy Government bills and bonds Product desc ription: government bills and bonds include fixed-rate, floating-rate and inflation-linked bills and bonds issued by sovereign governments. Valuation: these instruments are generally valued using prices obtained directly from the market. Instruments that c annot be priced directly using active- market data are valued using discounted cash flow valuation techniques that incorporate market data for similar government instruments. Fair value hierarchy: g overnment bills and bonds are generally traded in active m arkets with prices that can be obtained directly from these markets, resulting in classification as Level 1, while the remaining positions are classified as Level 2. Corporate and municipal bonds Product description: corporate bonds include senior, junior and subordinated debt issued by corporate entities. Municipal bonds are issued by state and local governments. While most instruments are standard fixed- or floating-rate securities, some may have more complex coupon or embedded option features. Valuation : corporate and municipal bonds are generally valued using prices obtained directly from the market for the security, or similar securities, adjusted for seniority, maturity and liquidity. When prices are not available, instruments are valued using discoun ted cash flow valuation techniques incorporating the credit spread of the issuer or similar issuers. For convertible bonds where no directly comparable price is available, issuances may be priced using a convertible bond model. Fair value hierarchy: corpor ate and municipal bonds are generally classified as Level 1 or Level 2 depending on the depth of trading activity behind price sources. Level 3 instruments have no suitable pricing information available and also cannot be referenced to other securities iss ued by the same issuer. Therefore, such instruments are measured based on price levels for similar issuers adjusted for relative tenor and issuer quality. Traded loans and loans designated at fair value Product description: these instruments include fixed-rate loans, corporate loans, recently originated commercial real estate loans and contingent lending transactions. Valuation: loans are valued directly using market prices that reflect recent transactions or quoted dealer prices, where available. Where no market price data is available, loans are valued by relative value benchmarking using pricing derived from debt instruments in compa rable entities or different products in the same entity, or by using a credit default swap valuation technique, which requires inputs for credit spreads, credit recovery rates and interest rates. Recently originated commercial real estate loans are measure d using a securitization approach based on rating agency guidelines. The valuation of the contingent lending transactions is dependent on actuarial mortality levels and actuarial life insurance policy lapse rates. Mortality and lapse rate assumptions are b ased on external actuarial estimations for large homogeneous pools, and contingencies are derived from a range relative to the actuarially expected amount. Fair value hierarchy: instruments with suitably deep and liquid pricing information are classified a s Level 2, while any positions requiring the use of valuation techniques, or for which the price sources have insufficient trading depth, are classified as Level 3. Investment fund units Product description: investment fund units are pools of assets, gener ally equity instruments and bonds, broken down to redeemable units. Valuation: investment fund units are predominantly exchange-traded, with readily available quoted prices in liquid markets. Where market prices are not available, fair value may be measure d using net asset values (NAV), taking into account any restrictions imposed upon redemption. Fair value hierarchy: listed units are classified as Level 1, provided there is sufficient trading activity to justify active - market classification, while other positions are classified as Level 2. Positions for which NAV are not available or that are not redeemable at the measurement date or shortly thereafter are classified as Level 3. Asset-backed securities Product description: asset-backed securities ( ABS ) in clude residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO) and other ABS and are instruments generally issued through the process of securitization of underlying interest-bearing assets. Valuation: for liquid securities, the valuation process will use trade and price data, updated for movements in market levels between the time of trading and the time of valuation. Less liquid instruments are measured using discounted expected ca sh flows incorporating price data for instruments or indices with similar risk profiles. Inputs to discounted expected cash flow techniques include asset prepayment rates, discount margin or discount yields and asset default and recovery rates. Fair valu e hierarchy: CDO, RMBS, CMBS and other ABS are generally classified as Level 2. However, if significant inputs are unobservable, or i f market or fundamental data is not available, they are classified as Level 3. Auction rate securities Product description: there are two types of auction rate securities (ARS): auction preferred securities (APS) and auction rate certificates (ARC). ARC are issued by municipalities and are used by investors as tax-exempt alternatives to money market instruments. Interest rates for these instruments are reset through a periodic Dutch auction. APS are similar to ARC with the primary difference being that they are issued from closed-end funds. Valuation: ARS are valued using market prices that reflect recent transactions after ap plying an adjustment for trade size or quoted dealer prices, where available. Fair value hierarchy: suitably deep and liquid pricing information is generally not available for ARS securities. As a result, these securities are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shares, private equity positions and units held in hedge funds. Valuation: listed equity instruments are generally valued using prices obtained directly from the market. Unlisted equity holdings, including private equity positions, are initially marked at their transaction price and are revalued when reliable evidence of price movement becomes available or when the position is deemed to be impaired. Fair value for units held in hedge funds is measured based on their published NAV, taking into account any restrictions imposed upon redemption. Fair value hierarchy: the ma jority of equity securities are actively traded on public stock exchanges where quoted prices are readily and regularly available, resulting in Level 1 classification. Units held in hedge funds are classified as Level 2, except for positions for which publ ish ed NAV are not available or that are not redeemable at the measurement date or shortly thereafter, in which case such positions are classified as Level 3. Financial assets for unit-linked investment contracts Product description: unit-linked investment contracts allow investors to invest in a pool of assets through issued investment units. Valuation: the majority of assets are listed on exchanges and fair values are determined using quoted prices. Fair value hierarchy: most assets are classified as Leve l 1 if actively traded, or Level 2 if trading is not active. However, instruments for which prices are not readily available are classified as Level 3. Securities financing transactions Product description: securities financing transactions include (reverse) repurchase agreements (securities purchased under resale agreements and securities sold under repurchase agreements) that are managed on a fair value basis. Valuation: These instruments are valued using discounted expected cash flow techniques. The discount rate applied is based on funding curves that are relevant to the collateral eligibility terms for the contract in question. Fair value hi erarchy: Collateral funding curves for these instruments are generally observable and, as a result, these positions are classified as Level 2. Where the collateral terms are non-standard the funding curve may be considered unobservable and classified Level 3. Brokerage receivables and payables Product description: brokerage receivables and payables include callable, on-demand balances, including long cash credits, short cash debits, margin debit balances and short sale proceeds. Valuation: fair value is de termined based on the value of the underlying balances. Fair value hierarchy: due to their on-demand nature, these receivables and payables are designated as Level 2. Financial liabilities designated at fair value Product description: debt instruments, pr imarily comprised of equity-, rates- and credit-linked issued notes, which are held at fair value under the fair value option. These instruments are tailored specifically to the holder’s risk or investment appetite with structured coupons or payoffs. Valu ation: the risk management and the valuation approaches for these instruments are closely aligned with the equivalent derivatives business and the underlying risk, and the valuation techniques used for this component are the same as the relevant valuation techniques described below. For example, equity-linked notes should be referenced to equity / index contracts and credit-linked notes should be referenced to credit derivative contacts. Fair value hierarchy: observability is closely aligned with the equivalent derivatives business and the underlying risk. Refer to Note s 19 and 22 for information on debt issued designated at fair value and other financial liabilities designated at fair value Refer to Note 2 4 d for more information on own credit adjustme nts related to financial liabilities designated at fair value Amounts due under unit-linked investment contracts Product description: the financial liability represents the amounts due to unit holders. Valuation: the fair values of investment contract lia bilities are determined by reference to the fair value of the corresponding assets. Fair value hierarchy: the liabilities themselves are not actively traded, but are mainly referenced to instruments that are actively traded and are therefore classified as Level 2. Derivative instruments: product description, valuation and classification in the fair value hierarchy The curves used for discounting expected cash flows in the valuation of collateralized derivatives reflect the funding terms associated with the relevant collateral arrangement for the instrument being valued. These collateral arrangements differ across counterparties with respect to the eligible currency and interest terms of the collateral. The majority of collateralized derivatives are measured using a discount curve that is based on funding rates derived from overnight interest in the cheapest eligible currency for the respective counterparty collateral agreement. Uncollateralized and partially collateralized derivatives are discounted using th e LIBOR (or equivalent) curve for the currency of the instrument. As described in Note 2 4 d , the fair value of uncollateralized and partially collateralized derivatives is then adjusted by CVA, DVA and FVA as applicable, to reflect an estimation of the effe ct of counterparty credit risk, UBS’s own credit risk and funding costs and benefits. Interest rate contracts Product description: interest rate swap contracts include interest rate swaps, basis swaps, cross-currency swaps, inflation swaps and interest rat e forward s, often referred to as forward rate agreements (FRA). Interest rate option contracts include caps and floors, swaptions, swaps with complex payoff profiles and other more complex interest rate options. Valuation: interest rate swap contracts are valued by estimating future interest cash flows and discounting those cash flows using a rate that reflects the appropriate funding rate for the position being measured. The yield curves used to estimate future index levels and discount rates are generated using market standard yield curve models using interest rates associated with current market activity. The key inputs to the models are interest rate swap rates, FRA rates, short-term interest rate futures prices, basis swap spreads and inflation swap rat es. Interest rate option contracts are valued using various market standard option models, using inputs that include interest rate yield curves, inflation curves, volatilities and correlations. The volatility and correlation inputs within the models are im plied from marke t data based on market-observed prices for standard option instruments trading within the market. Option models used to value more exotic products have a number of model parameter inputs that require calibration to enable the exotic model t o price standard option instruments to the price levels observed in the market. When the maturity of the interest rate swap or option contract exceeds the term for which standard market quotes are observable for a significant input parameter, the contracts are valued by extrapolation from the last observable point using standard assumptions or by reference to another observable comparable input parameter to represent a suitable proxy for that portion of the term. Fair value hierarchy: the majority of interest rate swaps are classified as Level 2 as the standard market contracts that form the inputs for yield curve models are generally tr aded in active and observable markets. Options are generally treated as Level 2 as the calibration process enables the model o utput to be validated to active- market levels. Models calibrated in this way are then used to revalue the portfolio of both standa rd options and more exotic products. In most cases, there are active and observable markets for the standard market instruments that form the inputs for yield curve models as well as the financial instruments from which volatility and correlation inputs ar e derived. Exotic options for which appropriate volatility or correlation input levels cannot be implied from observable market data are classified as Level 3. Interest rate swap or option contracts are classified as Level 3 when t he term exceeds standard market- observable quotes. C |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Explanatory | Note 24 Fair value measurement This Note provides fair value measurement information for both financial and non-financial instruments and is structured as follows: a) Valuation principles b) Valuation governance c) Fair value hierarchy d) Valuation adjustments e) Transfers between Level 1 and Level 2 f) Level 3 instruments: valuation techniques and inputs g) Level 3 instru ments: sensitivity to changes in unobservable input assumptions h) Level 3 instruments: movements during the period i) Maximum exposure to credit risk for financial instruments measured at fair value j) Financial instruments not measured at fair value Adoption of IFRS 9 Adoption of IFRS 9 on 1 January 2018 resulted in the reclassification of certain financial assets and liabilities from amortized cost to fair value through profit or loss. This inc luded: brokerage receivables and payables held in the Investment Bank and Global Wealth Management; auction rate securities held in Corporate Center; and certain loans held in the Investment Bank. Some of those financial assets and liabilities are designa ted as Level 3 in the fair value hierarchy. Refer to the tables and text within this Note for more information. An immaterial amount of financial assets were reclassified from Financial assets at fair value held for trading and Financial assets at fair val ue not held for trading to Loans and advances to customers upon adoption of IFRS 9. An immaterial amount of associated loan commitments, which were recognized as derivative liabilities as of 31 December 2017, were also derecognized from the balance sheet. No material fair value gains or losses would have been recognized in the income statement in 2018 had these instruments not been reclassified. Similarly, no material fair value gains or losses would have been recognized in Other comprehensive income relate d to debt instruments that were reclassified from Financial assets available for sale to Other financial assets measured at amortized cost upon adoption of IFRS 9. Refer to Note 1c for more information a) Valuation principles Fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market (or most advantageous market, in the absence of a principal market) as of the measurement date. In measuring fair value, the Group uses various valuation approaches and applies a hierarchy for prices and inputs that maximizes the use of observable market data, if available. All financial and non-financial assets and liabilities measured or disclosed at fair value are categorized into one of three fair value hierarchy levels. In certain cases, the inputs used to measure fair value may fall within different levels of the fair value hierarchy. F or disclosure purposes, the level in the hierarchy within which the instrument is classified in its entirety is based on the lowest level input that is significant to the position’s fair value measurement: Level 1 – quoted prices (unadjusted) in active mar kets for identical assets and liabilities; Level 2 – valuation techniques for which all significant inputs are, or are based on, observable market data; or Level 3 – valuation techniques for which significant inputs are not based on observable market data. If available, fair values are determined using quoted prices in active markets for identical assets or liabilities. An active mar ket is one in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing data on an ongoing basis. Assets and liabilities that are quoted and traded in an active market are valued at the currently quote d price multiplied by the number of units of the instrument held. Where the market for a financial instrument or non-financial asset or liability is not active, fair value is established using a valuation technique, including pricing models. Valuation tech niques involve the use of estimates, the extent of which depends on the complexity of the instrument and the availability of market-based data. Valuation adjustments may be made to allow for additional factors, including model, liquidity, credit and fundi ng risks, which are not explicitly captured within the valuation technique, but which would nevertheless be considered by market participants when establishing a price. The limitations inherent in a particular valuation technique are considered in the dete rmination of an asset or liability’s classification within the fair value hierarchy. Many cash instruments and over-the-counter (OTC) derivative contracts have bid and offer prices that can be observed in the marketplace. Bid prices reflect the highest pri ce that a party is willing to pay for an asset. Offer prices represent the lowest price that a party is willing to accept for an asset. In general, long positions are measured at a bid price and short positions at an offer price, reflecting the prices at w hich the instruments could be transferred under normal market conditions. Offsetting positions in the same financial instrument are marked at the mid-price within the bid-offer spread. Generally, the unit of account for a financial instrument is the indivi dual instrument, and UBS applies valuation adjustments at an individual instrument level, consistent with that unit of account. However, if certain conditions are met, UBS may estimate the fair value of a portfolio of financial assets and liabilities with substantially similar and offsetting risk exposures on the basis of the net open risks. For transactions where the valuation technique used to measure fair value requires significant inputs that are not based on observable market data, the financial instru ment is initially recognized at the transaction price. This initial recognition amount may differ from the fair value obtained using the valuation technique. Any such difference is deferred and not recognized in the income statement and referred to as defe rred day-1 profit or loss. Refer to Note 24 d for more information b) Valuation governance UBS’s fair value measurement and model governance framework includes numerous controls and other procedural safeguards that are intended to maximize the quality of fair value measurements reported in the financial statements. New products and valuation techniques must be reviewed and approved by key stakeholders from risk and finance control functions. Responsibility for the ongoing measurement of financial and non-financial instruments at fair value resides with the business divisions. In carrying out their valuation responsibilities , the businesses are required to consider the availability and quality of external market data and to provide justification and rationale for their fair value estimates. Fair value estimates are validated by risk and finance control functions, which are i ndependent of the business divisions. Independent price verification is performed by Finance through benchmarking the business divisions’ fair value estimates with observable market prices and other independent sources. Controls and a governance framework are in place and are intended to ensure the quality of third-party pricing sources where used. For instruments where valuation models are used to determine fair value, independent valuation and model control groups within Finance and Risk Control evaluate UBS’s models on a regular basis, including valuation and model input parameters as well as pricing. As a result of the valuation controls employed, valuation adjustments may be made to the business divisions’ estimates of fair value to align with independe nt market data and the relevant accounting standard. Refer to Note 24 d for more information c) Fair value hierarchy The table below provides the fair value hierarchy classification of financial and non-financial assets and liabilities measured at fair value. The narrative that follows describes the different product types, valuation techniques used in measuring their fair value, including significant valuation inputs and assumptions used, and the factors determining their classification within the fair value hierarchy. Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,455 14,096 1,962 104,513 111,781 15,705 2,023 129,509 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,699 651 6,908 38 8,281 566 8,886 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,270 455 46 72,771 81,326 190 108 81,624 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,035 1,424 126,212 470 119,228 1,589 121,286 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,151 30 53,492 212 47,958 194 48,364 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,516 4,413 82,387 23,628 34,986 1,456 60,070 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 125 109 407 210 0 0 210 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,283 201,916 7,800 340,999 143,638 175,266 5,631 324,535 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,413 4,468 69 28,949 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,313 537 42 21,892 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,850 2,879 119,138 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,319 125 46,663 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,992 244,465 14,260 283,717 27,119 174,539 16,157 217,814 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques Valuation techniques are used to value positions for which a market price is not available from market sources. This includes certain less liquid debt and equity instruments, certain exchange-traded derivati ves and all derivatives transacted in the OTC market. UBS uses widely recognized valuation techniques for determining the fair value of financial and non-financial instruments that are not actively traded and quoted. The most frequently applied valuation t echniques include discounted value of expected cash flows, relative value and option pricing methodologies. Discounted value of expected cash flows is a valuation technique that measures fair value using estimated expected future cash flows from assets or liabilities and then discounts these cash flows using a discount rate or discount margin that reflects the credit and / or funding spreads required by the market for instruments with similar risk and liquidity profiles to produce a present value. When usin g such valuation techniques, expected future cash flows are estimated using an observed or implied market price for the future cash flows or by using industry standard cash flow projection models. The discount factors within the calculation are generated u sing industry standard yield curve modeling techniques and models. Relative value models measure fair value based on the market prices of equivalent or comparable assets or liabilities, making adjustments for differences between the characteristics of the observed instrument and the instrument being valued. Option pricing models incorporate assumptions regarding the behavior of future price movements of an underlying referenced asset or assets to generate a probability-weighted future expected payoff for th e option. The resulting probability-weighted expected payoff is then discounted using discount factors generated from industry standard yield curve modeling techniques and models. The option pricing model may be implemented using a closed-form analytical f ormula or other mathematical techniques (e.g., binomial tree or Monte Carlo simulation). Where available, valuation techniques use market-observable assumptions and inputs. If such data is not available, inputs may be derived by reference to similar assets in active markets, from recent prices for comparable transactions or from other observable market data. In such cases, the inputs selected are based on historical experience and practice for similar or analogous instruments, derivation of input levels bas ed on similar products with observable price levels and knowledge of current market conditions and valuation approaches. For more complex instruments and instruments not traded in an active market, fair values may be estimated using a combination of observ ed transaction prices, consensus pricing services and relevant quotes. Consideration is given to the nature of the quotes (e.g., indicative or firm) and the relationship of recently evidenced market activity to the prices provided by consensus pricing serv ices. UBS also uses internally developed models, which are typically based on valuation methods and techniques recognized as standard within the industry. Assumptions and inputs used in valuation techniques include benchmark interest rate curves, credit an d funding spreads used in estimating discount rates, bond and equity prices, equity index prices, foreign exchange rates, levels of market volatility and correlation. Refer to Note 2 4 f for more information. The discount curves used by the Group incorporate the funding and credit characteristics of the instruments to which they are applied. Financial instruments excluding derivatives: product description, valuation and classification in the fair value hierarchy Government bills and bonds Product description: government bills and bonds include fixed-rate, floating-rate and inflation-linked bills and bonds issued by sovereign governments. Valuation: these instruments are generally valued using prices obtained directly from the market. Instruments that cannot be priced directly using active- market data are valued using discounted cash flow valuation techniques that incorporate market data for similar government instruments. Fair value hierarchy: g overnment bills and bonds are generally traded in active markets with prices that can be obtained directly from these markets, resulting in classification as Level 1, while the remaining positions are classified as Level 2. Corporate and municipal bonds Product des cription: corporate bonds include senior, junior and subordinated debt issued by corporate entities. Municipal bonds are issued by state and local governments. While most instruments are standard fixed- or floating-rate securities, some may have more compl ex coupon or embedded option features. Valuation: corporate and municipal bonds are generally valued using prices obtained directly from the market for the security, or similar securities, adjusted for seniority, maturity and liquidity. When prices are no t available, instruments are valued using discounted cash flow valuation techniques incorporating the credit spread of the issuer or similar issuers. For convertible bonds where no directly comparable price is available, issuances may be priced using a con vertible bond model. Fair value hierarchy: corporate and municipal bonds are generally classified as Level 1 or Level 2 depending on the depth of trading activity behind price sources. Level 3 instruments have no suitable pricing information available and also cannot be referenced to other securities issued by the same issuer. Therefore, such instruments are m easured based on price levels for similar issuers adjusted for relative tenor and issuer quality. Traded loans and loans designated at fair value Product description: these instruments include fixed-rate loans, corporate loans, recently originated commerci al real estate loans and contingent lending transactions. Valuation: loans are valued directly using market prices that reflect re cent transactions or quoted dealer prices, where available. Where no market price data is available, loans are valued by relative value benchmarking using pricing derived from debt instruments in comparable entities or different products in the same entity , or by using a credit default swap valuation technique, which requires inputs for credit spreads, credit recovery rates and interest rates. Recently originated commercial real estate loans are measured using a securitization approach based on rating agenc y guidelines. The valuation of the contingent lending transactions is dependent on actuarial mortality levels and actuarial life insurance policy lapse rates. Mortality and lapse rate assumptions are based on external actuarial estimations for large homoge neous pools, and contingencies are derived from a range relative to the actuarially expected amount. Fair value hierarchy: instruments with suitably deep and liquid pricing information are classified as Level 2, while any positions requiring the use of val uation techniques, or for which the price sources have insufficient trading depth, are classified as Level 3. Investment fund units Product description: investment fund units are pools of assets, generally equity instruments and bonds, broken down to redee mable units. Valuation: investment fund units are predominantly exchange-traded, with readily available quoted prices in liquid markets. Where market prices are not available, fair value may be measured using net asset values (NAV), taking into account any restrictions imposed upon redemption. Fair value hierarchy: listed units are classified as Level 1, provided there is sufficient trading activity to justify active - market classification, while other positions are classified as Level 2. Positions for whic h NAV are not available or that are not redeemable at the measurement date or shortly thereafter are classified as Level 3. Asset-backed securities Product description: asset-backed securities (A BS ) include residential mortgage-backed securities (RMBS), co mmercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO) and other ABS and are instruments generally issued through the process of securitization of underlying interest-bearing assets. Valuation: for liquid securities, the valuati on process will use trade and price data, updated for movements in market levels between the time of trading and the time of valuation. Less liquid instruments are measured using discounted expected cash flows incorporating price data for instruments or in dices with similar risk profiles. Inputs to discounted expected cash flow techniques include asset prepayment rates, discount margin or discount yields and asset default and recovery rates. Fair value hierarchy: CDO, RMBS, CMBS and other ABS are generally classified as Level 2. However, if significant inputs are unobservable, or i f market or fundamental data is not available, they are classified as Level 3. Auction rate securities Product description: there are two types of auction rate securitie s (ARS): auction preferred securities (APS) and auction rate certificates (ARC). ARC are issued by municipalities and are used by investors as tax-exempt alternatives to money market instruments. Interest rates for these instruments are reset through a per iodic Dutch auction. APS are similar to ARC with the primary difference being that they are issued from closed-end funds. Valuation: ARS are valued using market prices that reflect recent transactions after applying an adjustment for trade size or quoted dealer prices, where available. Fair value hierarchy: suitably deep and liquid pricing information is generally not available for ARS securities. As a result, these securities are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shares, private equity positions and units held in hedge funds. Valuation: listed equity instruments are generally valued using prices obtained directly from the market. Unlisted equity holdings, including private equity posi tions, are initially marked at their transaction price and are revalued when reliable evidence of price movement becomes available or when the position is deemed to be impaired. Fair value for units held in hedge funds is measured based on their published NAV, taking into account any restrictions imposed upon redemption. Fair value hierarchy: the majority of equity securities are actively traded on public stock exchanges where quoted prices are readily and regularly available, resulting in Level 1 classific ation. Units held in hedge funds are classified as Level 2, except for positions for which publish ed NAV are not available or that are not redeemable at the measurement date or shortly thereafter, in which case such positions are classified as Level 3. Fin ancial assets for unit-linked investment contracts Product description: unit-linked investment contracts allow investors to invest in a pool of assets through issued investment units. Valuation: the majority of assets are listed on exchanges and fair valu es are determined using quoted prices. Fair value hierarchy: most assets are classified as Level 1 if actively traded, or Level 2 if trading is not active. However, instruments for which prices are not readily available are classified as Level 3. Securities financing transactions Product description: securities financing transactions include (reverse) repurchase agreements (se curities purchased under resale agreements and securities sold under repurchase agreements) that are managed on a fair value basis. Valuation: These instruments are valued using discounted expected cash flow techniques. The discount rate applied is based on funding curves that are relevant to the collateral eligibility terms for the contract in question. Fair value hierarchy: Collateral funding curves for these instruments are generally observable and, as a result, these positions are classified as Level 2. Where the collateral terms are non-standard the funding curve may be considered unobservable and classified Level 3. Brokerage receivables and paya bles Product description: brokerage receivables and payables include callable, on-demand balances, including long cash credits, short cash debits, margin debit balances and short sale proceeds. Valuation: fair value is determined based on the value of the underlying balances. Fair value hierarchy: due to their on-demand nature, these receivables and payables are designated as Level 2. Financial liabilities designated at fair value Product description: debt instruments, primarily comprised of equity-, rates- and credit-linked issued notes, which are held at fair value under the fair value option. These instruments are tailored specifically to the holder’s risk or investment appetite with structured coupons or payoffs. Valuation: the risk management and the valuation approaches for these instruments are closely aligned with the equivalent derivatives business and the underlying risk, and the valuation techniques used for this component are the same as the relevant valuation techniques described below. Fo r example, equity-linked notes should be referenced to equity / index contracts and credit-linked notes should be referenced to credit derivative contacts. Fair value hierarchy: observability is closely aligned with the equivalent derivatives business and the underlying risk. Refer to Note s 19 and 22 for information on debt issued designated at fair value and other financial liabilities designated at fair value Refer to Note 2 4 d for more information on own credit adjustments related to financial liabilities designated at fair value Amounts due under unit-linked investment contracts Product description: the financial liability represents the amounts due to unit holders. Valuation: the fair values of investment contract liabilities are determined by reference to the fair value of the corresponding assets. Fair value hierarchy: the liabilities themselves are not actively traded, but are mainly referenced to instruments that are actively traded and are therefore classified as Level 2. Derivative instruments: p roduct description, valuation and classification in the fair value hierarchy The curves used for discounting expected cash flows in the valuation of collateralized derivatives reflect the funding terms associated with the relevant collateral arrangement fo r the instrument being valued. These collateral arrangements differ across counterparties with respect to the eligible currency and interest terms of the collateral. The majority of collateralized derivatives are measured using a discount curve that is bas ed on funding rates derived from overnight interest in the cheapest eligible currency for the respective counterparty collateral agreement. Uncollateralized and partially collateralized derivatives are discounted using the LIBOR (or equivalent) curve for t he currency of the instrument. As described in Note 2 4 d , the fair value of uncollateralized and partially collateralized derivatives is then adjusted by CVA, DVA and FVA as applicable, to reflect an estimation of the effect of counterparty credit risk, UBS ’s own credit risk and funding costs and benefits. Interest rate contracts Product description: interest rate swap contracts include interest rate swaps, basis swaps, cross-currency swaps, inflation swaps and interest rate forward s, often referred to as fo rward rate agreements (FRA). Interest rate option contracts include caps and floors, swaptions, swaps with complex payoff profiles and other more complex interest rate options. Valuation: interest rate swap contracts are valued by estimating future interes t cash flows and discounting those cash flows using a rate that reflects the appropriate funding rate for the position being measured. The yield curves used to estimate future index levels and discount rates are generated using market standard yield curve models using interest rates associated with current market activity. The key inputs to the models are interest rate swap rates, FRA rates, short-term interest rate futures prices, basis swap spreads and inflation swap rates. Interest rate option contracts are valued using various market standard option models, using inputs that include interest rate yield curves, inflation curves, volatilities and correlations. The volatility and correlation inputs within the models are implied from marke t data based on mar ket-observed prices for standard option instruments trading within the market. Option models used to value more exotic products have a number of model parameter inputs that require calibration to enable the exotic model to price standard option instruments to the price levels observed in the market. When the maturity of the interest rate swap or option contract exceeds the term for which standard market quotes are observable for a significant input parameter, the contracts are valued by extrapolation from t he last observable point using standard assumptions or by reference to another observable comparable input parameter to represent a suitable proxy for that portion of the term. Fair value hierarchy: the majority of interest rate swaps are classified as Level 2 as the standard market contracts that form the inputs for yield curve models are generally traded in active and observable markets. Options are generally treated as Level 2 as the calibration process enables the model o utput to be validated to active- market levels. Models calibrated in this way are th en used to revalue the portfolio of both standard options and more exotic products. In most cases, there are active and observable markets for the standard market instruments that form the inputs for yield curve models as well as the financial instruments from which volatility and correlation inputs are derived. Exotic options for which appropriate volatility or correlation input levels cannot be implied from observable market data are classified as Level 3. Interest rate swap or option contracts are classi fied as Level 3 when t he term exceeds standard market- observable quotes |
Offsetting financial assets and
Offsetting financial assets and financial liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory | Note 25 Offsetting financial assets and financial liabilities UBS enters into netting agreements with counterparties to manage the credit risks associated primarily with repurchase and reverse repurchase transactions, securities borrowing and lending, over-the-counter derivatives and exchange-traded derivatives. These netting agreements and similar arrangements generally enable the counterparties to set off liabilities against available assets received in the ordinary course of business an d / or in the event that the counterparty to the transaction is unable to fulfill its contractual obligations. The right of setoff is a legal right to settle or otherwise eliminate all or a portion of an amount due by applying an amount receivable from the same counterparty against it, thus reducing credit exposure. The table below provides a summary of financial assets subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral received to mitigate credit exposures for these financial assets. The gross financial assets of the Group that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet li ne, after giving effect to financial liabilities with the same counterparties that have been offset on the balance sheet and other financial assets not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financi al liabilities and collateral received that are not offset on the balance sheet are shown to arrive at financial assets after consideration of netting potential. The Group engages in a variety of counterparty credit mitigation strategies in addition to net ting and collateral arrangements. Therefore, the net amounts presented in the tables on this and on the next page do not purport to represent their actual credit exposure. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Assets not subject to netting arrangements 5 Total assets As of 31.12.18, USD billion Gross assets before netting Netting with gross liabilities 3 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Receivables from securities financing transactions 1 88.5 (13.0) 75.5 (4.4) (71.2) 0.0 19.8 19.8 95.3 Derivative financial instruments 124.3 (4.3) 120.0 (90.8) (24.0) 5.2 6.2 11.4 126.2 Cash collateral receivables on derivative instruments 2 24.6 (2.3) 22.3 (13.5) (1.0) 7.8 1.3 9.1 23.6 Financial assets at fair value not held for trading 1 85.4 (77.5) 7.8 (1.4) (6.4) 0.0 74.9 74.9 82.7 of which: reverse repurchase agreements 85.3 (77.5) 7.8 (1.4) (6.4) 0.0 2.1 2.1 9.9 Total assets 322.9 (97.2) 225.7 (110.0) (102.6) 13.0 102.2 115.2 327.9 As of 31.12.17, USD billion Receivables from securities financing transactions 1 147.9 (78.8) 69.1 (7.7) (61.4) 0.0 22.8 22.8 92.0 Derivative financial instruments 117.2 (2.1) 115.1 (85.6) (21.3) 8.2 6.2 14.4 121.3 Cash collateral receivables on derivative instruments 2 22.2 (1.1) 21.1 (12.0) (0.8) 8.3 2.9 11.2 24.0 Financial assets at fair value not held for trading 1 0.4 0.0 0.4 0.0 (0.2) 0.2 60.0 60.3 60.5 Total assets 287.8 (82.0) 205.8 (105.4) (83.7) 16.8 91.9 108.7 297.7 1 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Financial assets at fair value not held for trading” and a decrease in amounts presented on the line “Receivables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. Netting in this column for reverse repurchase agreements presented within the lines “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” taken together corresponds to the amounts presented for repurchase agreements in the “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” lines in the liabilities table presented on the following page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. The table below provides a summary of financial l iabilities subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral pledged to mitigate credit exposures for these financial liabilities. The gross financial liabilities of UBS that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet line, after giving effect to financial assets with the same counterparties that have been offset on the b alance sheet and other financial liabilities not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financial assets and collateral pledged that are not offset on the balance sheet are shown to arrive at financ ial liabilities after consideration of netting potential . Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Liabilities not subject to netting arrangements 5 Total liabilities As of 31.12.18, USD billion Gross liabilities before netting Netting with gross assets 3 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Payables from securities financing transactions 1 20.6 (12.4) 8.3 (3.6) (4.7) 0.0 2.0 2.0 10.3 Derivative financial instruments 124.1 (4.3) 119.8 (90.8) (20.9) 8.1 5.9 14.0 125.7 Cash collateral payables on derivative instruments 2 29.0 (2.3) 26.7 (14.2) (1.2) 11.3 2.2 13.5 28.9 Other financial liabilities designated at fair value 1 86.6 (78.2) 8.4 (2.1) (5.9) 0.4 25.2 25.6 33.6 of which: repurchase agreements 86.1 (78.2) 7.9 (2.1) (5.9) 0.0 1.6 1.6 9.5 Total liabilities 260.4 (97.2) 163.2 (110.7) (32.6) 19.8 35.4 55.2 198.5 As of 31.12.17, USD billion Payables from securities financing transactions 1 92.5 (78.8) 13.7 (7.7) (6.0) 0.0 3.8 3.8 17.5 Derivative financial instruments 114.3 (2.1) 112.2 (85.6) (15.4) 11.2 6.9 18.1 119.1 Cash collateral payables on derivative instruments 2 30.2 (1.1) 29.2 (16.7) (1.2) 11.3 1.9 13.1 31.0 Other financial liabilities designated at fair value 1 1.9 0.0 1.9 0.0 (0.1) 1.8 14.7 16.5 16.6 Total liabilities 239.0 (82.0) 157.0 (110.0) (22.7) 24.3 27.3 51.6 184.3 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Other financial liabilities designated at fair value” and a decrease in amounts presented on the line “Payables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain exchange-traded derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. Netting in this column for repurchase agreements presented within the lines “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” taken together corresponds to the amounts presented for reverse repurchase agreements in the “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” lines in the assets table presented on the previous page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
UBS AG | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory | Note 25 Offsetting financial assets and financial liabilities UBS AG enters into netting agreements with counterparties to manage the credit risks associated primarily with repurchase and reverse repurchase transactions, securities borrowing and lending, over-the-counter derivatives and exchange-traded derivatives. These n etting agreements and similar arrangements generally enable the counterparties to set off liabilities against available assets received in the ordinary course of business and / or in the event that the counterparty to the transaction is unable to fulfill i ts contractual obligations. The right of setoff is a legal right to settle or otherwise eliminate all or a portion of an amount due by applying an amount receivable from the same counterparty against it, thus reducing credit exposure. The table below provi des a summary of financial assets subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral received to mitigate credit exposures for these financial assets. The gross financial assets of UBS AG that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet line, after giving effect to financial liabilities with the same counterparties that hav e been offset on the balance sheet and other financial assets not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financial liabilities and collateral received that are not offset on the balance sheet are sh own to arrive at financial assets after consideration of netting potential. UBS AG engages in a variety of counterparty credit mitigation strategies in addition to netting and collateral arrangements. Therefore, the net amounts presented in the tables on t his and on the next page do not purport to represent their actual credit exposure. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Assets not subject to netting arrangements 5 Total assets As of 31.12.18, USD billion Gross assets before netting Netting with gross liabilities 3 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Receivables from securities financing transactions 1 88.5 (13.0) 75.5 (4.4) (71.2) 0.0 19.8 19.8 95.3 Derivative financial instruments 124.3 (4.3) 120.0 (90.8) (24.0) 5.2 6.2 11.4 126.2 Cash collateral receivables on derivative instruments 2 24.6 (2.3) 22.3 (13.5) (1.0) 7.8 1.3 9.1 23.6 Financial assets at fair value not held for trading 1 85.4 (77.5) 7.8 (1.4) (6.4) 0.0 74.6 74.6 82.4 of which: reverse repurchase agreements 85.3 (77.5) 7.8 (1.4) (6.4) 0.0 2.1 2.1 9.9 Total assets 322.9 (97.2) 225.7 (110.0) (102.6) 13.0 101.9 114.9 327.6 As of 31.12.17, USD billion Receivables from securities financing transactions 1 147.9 (78.8) 69.1 (7.7) (61.4) 0.0 22.8 22.8 92.0 Derivative financial instruments 117.2 (2.1) 115.1 (85.6) (21.3) 8.2 6.2 14.4 121.3 Cash collateral receivables on derivative instruments 2 22.2 (1.1) 21.1 (12.0) (0.8) 8.3 2.9 11.2 24.0 Financial assets at fair value not held for trading 1 0.4 0.0 0.4 0.0 (0.2) 0.2 59.6 59.9 60.1 Total assets 287.8 (82.0) 205.8 (105.4) (83.7) 16.8 91.6 108.3 297.4 1 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Financial assets at fair value not held for trading” and a decrease in amounts presented on the line “Receivables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. Netting in this column for reverse repurchase agreements presented within the lines “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” taken together corresponds to the amounts presented for repurchase agreements in the “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” lines in the liabilities table presented on the following page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. The table below provides a summary of financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral pledged to mitigate credit exposures for these financial liabilities. The gross financial liabilities of UBS AG that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet line, after giving effect to financial assets with the same counterparties that have been offset on the balance sheet and other financial liabilities not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financial assets and collateral pledged that are not offset on the balance sheet are shown to arrive at financial liabilities after consideration of netting potential . Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Liabilities not subject to netting arrangements 5 Total liabilities As of 31.12.18, USD billion Gross liabilities before netting Netting with gross assets 3 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Payables from securities financing transactions 1 20.6 (12.4) 8.3 (3.6) (4.7) 0.0 2.0 2.0 10.3 Derivative financial instruments 124.1 (4.3) 119.8 (90.8) (20.9) 8.1 5.9 14.0 125.7 Cash collateral payables on derivative instruments 2 29.0 (2.3) 26.7 (14.2) (1.2) 11.3 2.2 13.5 28.9 Other financial liabilities designated at fair value 1 86.6 (78.2) 8.4 (2.1) (5.9) 0.4 25.2 25.6 33.6 of which: repurchase agreements 86.1 (78.2) 7.9 (2.1) (5.9) 0.0 1.6 1.6 9.5 Total liabilities 260.4 (97.2) 163.2 (110.7) (32.6) 19.8 35.4 55.2 198.5 As of 31.12.17, USD billion Payables from securities financing transactions 1 92.5 (78.8) 13.7 (7.7) (6.0) 0.0 3.8 3.8 17.5 Derivative financial instruments 114.3 (2.1) 112.2 (85.6) (15.4) 11.2 6.9 18.1 119.1 Cash collateral payables on derivative instruments 2 30.2 (1.1) 29.2 (16.7) (1.2) 11.3 1.9 13.1 31.0 Other financial liabilities designated at fair value 1 1.9 0.0 1.9 0.0 (0.1) 1.8 14.7 16.5 16.6 Total liabilities 239.0 (82.0) 157.0 (110.0) (22.7) 24.3 27.3 51.6 184.3 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Other financial liabilities designated at fair value” and a decrease in amounts presented on the line “Payables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain exchange-traded derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. Netting in this column for repurchase agreements presented within the lines “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” taken together corresponds to the amounts presented for reverse repurchase agreements in the “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” lines in the assets table presented on the previous page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
Restricted financial assets
Restricted financial assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Restricted Financial Assets [Line Items] | |
Restricted Assets Disclosure Text Block | Note 26 Restricted and transferred financial assets This Note provides information on restricted financial assets (Note 26 a), transfers of financial assets (Note 26 b and 26 c) and financial assets that are received as collateral with the right to resell or repledge these assets (Note 26 d). a) Restricted financial assets Restricted financial assets consist of assets pledged as collateral against an existing liability or contingent liabi lity and other assets that are otherwise explicitly restricted such that they cannot be used to secure funding. Financial assets are mainly pledged as collateral in securities lending transactions, in repurchase transactions, against loans from Swiss mort gage institutions and in connection with the issuance of covered bonds. The Group generally enters into repurchase and securities lending arrangements under standard market agreement s. For securities lending, the cash received as collateral may be more or less than the fair value of the securities l oaned, depending on the nature of the transaction . For repurchase agreements, the fair value of the collateral sold under an agreement to repurchase is generally in excess of the cash borrowed. Pledged mortgage l oans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of USD 12,516 million as of 31 December 2018 ( 31 December 2017 : USD 12,779 million). Other restricted financial assets include assets prot ected under client asset segregation rules, assets held by the Group’s insurance entities to back related liabilities to the policy holders, assets held in certain jurisdictions to comply with explicit minimum local asset maintenance requirements and asset s held in consolidated bankruptcy remote entities such as certain investment funds and other structured entities. The carrying value of the liabilities associated with these other restricted financial assets is generally equal to the carrying value of the assets, with the exception of assets held to comply with local asset maintenance requirements , for which the associated liabilities are greater. Restricted financial assets USD million 31.12.18 31.12.17 Financial assets pledged as collateral Financial assets at fair value held for trading 43,292 47,414 of which: assets pledged as collateral that may be sold or repledged by counterparties 32,121 36,277 Loans and advances to customers 1 18,804 18,087 Financial assets at fair value not held for trading 0 174 Total financial assets pledged as collateral 2 62,096 65,676 Other restricted financial assets Loans and advances to banks 5,140 3,364 Financial assets at fair value held for trading 3 3,589 12,591 Cash collateral receivables on derivative instruments 3,205 3,921 Loans and advances to customers 935 1,289 Financial assets at fair value not held for trading 3 23,514 2,669 Financial assets measured at fair value through other comprehensive income 171 253 Other 203 97 Total other restricted financial assets 36,758 24,183 Total financial assets pledged and other restricted financial assets 98,854 89,859 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). 3 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. In addition to restrictions on financial assets, UBS Group AG and its subsidiaries are, in certain cases, subject to regulatory requirements that affect the transfer of dividends and capital within the Group. Supervisory authorities also may require entities to measure capital and leverage ratios on a stressed basis, such as the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process, which affect s UBS Americas Holding LLC, an d may limit the ability of the intermediate holding company sub-group to make distributions of capital based on the results of those tests. In June 2018, the Federal Reserve Board released the 2018 CCAR results and did not obj ect to UBS Americas Holding LLC’s capital plan Certain regulated subsidiaries are required to maintain capital and / or liquidity to comply with local regulations and may be subject to prudential limitations by regulators that limit the amount of funds that they can distribute or otherwise transfer. Supervisory authorities generally have discretion to impos e higher requirements or to otherwise limit the activities of subsidiaries. Non-regulated subsidiaries are generally not subject to such requirements and transfer restrictions. However, restrictions can also be the result of different legal, regulatory, c ontractual, entity- or country-specific arrangements and / or requirements. Refer to “Financial and regulatory key figures for our significant regulated subsidiaries and sub-groups” in the “Significant regulated subsidiary and sub-group information” sectio n of this report for financial information on significant regulated subsidiaries of the G roup |
UBS AG | |
Disclosure Restricted Financial Assets [Line Items] | |
Restricted Assets Disclosure Text Block | Note 26 Restricted and transferred financial assets This Note provides information on restricted financial assets (Note 26 a), transfers of financial assets (Note 26 b and 26 c) and financial assets that are received as collateral with the right to resell or repledge these assets (Note 26 d). a) Restricted financial assets Restricted financial assets consist of assets pledged as collat eral against an existing liability or contingent liability and other assets that are otherwise explicitly restricted such that they cannot be used to secure funding. Financial assets are mainly pledged as collateral in securities lending transactions, in repurchase transactions, against loans from Swiss mortgage institutions and in connection with the issuance of covered bonds. UBS AG generally enters into repurchase and securities lending arrangements under standard market agreement s. For securities lendi ng, the cash received as collateral may be more or less than the fair value of the securities l oaned, depending on the nature of the transaction . For repurchase agreements, the fair value of the collateral sold under an agreement to repurchase is generally in excess of the cash borrowed. Pledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of USD 12,516 million as of 31 December 2018 ( 31 December 2017 : USD 12,779 million). Ot her restricted financial assets include assets protected under client asset segregation rules, assets held by UBS AG’s insurance entities to back related liabilities to the policy holders, assets held in certain jurisdictions to comply with explicit minimu m local asset maintenance requirements and assets held in consolidated bankruptcy remote entities such as certain investment funds and other structured entities. The carrying value of the liabilities associated with these other restricted financial assets is generally equal to the carrying value of the assets, with the exception of assets held to comply with local asset maintenance requirements , for which the associated liabilities are greater. Restricted financial assets USD million 31.12.18 31.12.17 Financial assets pledged as collateral Financial assets at fair value held for trading 43,292 47,454 of which: assets pledged as collateral that may be sold or repledged by counterparties 32,121 36,277 Loans and advances to customers 1 18,804 18,087 Financial assets at fair value not held for trading 0 174 Total financial assets pledged as collateral 2 62,096 65,715 Other restricted financial assets Loans and advances to banks 5,140 3,364 Financial assets at fair value held for trading 3 1,054 12,591 Cash collateral receivables on derivative instruments 3,205 3,921 Loans and advances to customers 935 1,289 Financial assets at fair value not held for trading 3 23,212 2,282 Financial assets measured at fair value through other comprehensive income 171 253 Other 203 97 Total other restricted financial assets 33,920 23,796 Total financial assets pledged and other restricted financial assets 96,016 89,512 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). 3 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. In addition to restrictions on financial assets, UBS AG and its subsidiaries are, in certain cases, subject to regulatory requirements that affect the transfer of dividends and capital within UBS AG . Supervisory authorities also may require entities to measure capital and leverage ratios on a stressed basis, such as the Federal Reserve Board’s Com prehensive Capital Analysis and Review (CCAR) process, which affects UBS Americas Holding LLC, and may limit the ability of the intermediate holding company sub-group to make distributions of capital based on the results of those tests. In June 2018, the F ederal Reserve Board released the 2018 CCAR results and did not object to UBS Americas Holding LLC’s capital plan. Certain regulated subsidiaries are required to maintain capital and / or liquidity to comply with local regulations and may be subject to prudential limitations by regulators that limit the amount of funds that they can distribute or otherwise transfer. Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities of subsidiaries. Non-regulated subsidiaries are generally not subject to such requirements and tran sfer restrictions. However, restrictions can also be the result of different legal, regulatory, contractual, entity- or country-specific arrangements and / or requirements. Refer to “Financial and regulatory key figures for our significant regulated subsid iaries and sub-groups” in the “Significant regulated subsidiary and sub-group information” section of this report for financial information on significant regulated subsidiaries of the G roup |
Transferred financial assets th
Transferred financial assets that are not derecognized in their entirety | 12 Months Ended |
Dec. 31, 2018 | |
Transferred Financial Assets That Are Not Derecognized In Their Entirety [Line Items] | |
Disclosure Of Transfers Of Financial Assets Explanatory | b) Transferred financial assets that are not derecognized in their entirety The table below presents information for financial asset s that have been transferred but are subject to continued recognition in full, as well as recognized liabilities associated with those transferred assets. Transferred financial assets subject to continued recognition in full USD million 31.12.18 31.12.17 Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 32,121 4,674 36,277 13,277 relating to securities lending and repurchase agreements in exchange for cash received 4,726 4,674 13,485 13,277 relating to securities lending agreements in exchange for securities received 26,234 0 21,684 0 relating to other financial asset transfers 1,161 0 1,109 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 0 0 174 173 Total financial assets transferred 32,121 4,674 36,451 13,450 Transactions in which financial assets are transferred, but continue to be recognized in their entirety on UBS’s balance sheet include securi ties lending and repurchase agreements as well as other financial asset transfers. Repurchase and securities lending arrangements are, for the most part, conducted under standard market agreements and are undertaken with counterparties subject to UBS’s nor mal credit risk control processes. Refer to Note 1a item 3e for more information on repurchase and securities lending agreements As of 31 Decem ber 2018, approximately 14% of the transferred financial assets were assets held for trading transferred in exc hange for cash, in which case the associated recognized liability represents the amount to be repaid to counterparties. For securities lending and repurchase agreements, a haircut between 0% and 15% is generally applied to the transferred assets, which res ults in associated liabilities having a carrying value below the carrying value of the transferred assets. The counterparties to the associated liabilities presented in the table above have full recourse to UBS. In securities lending arrangements entered i nto in exchange for the receipt of other securities as collateral, neither the securities received nor the obligation to return them are recognized on UBS’s balance sheet, as the risks and rewards of ownership are not transferred to UBS. In cases where suc h financial assets received are subsequently sold or repledged in another transaction, this is not considered to be a transfer of financial assets. Other financial asset transfers primarily include securities transferred to collateralize derivative transac tions, for which the carrying value of associated liabilities is not provided in the table above because those replacement values are managed on a portfolio basis across counterparties and product types, and therefore there is no direct relationship betwee n the specific collateral pledged and the associated liability. Transferred financial assets that are not subject to derecognition in full, but remain on the balance sheet to the extent of the Group’s continuing involvement, were not material as of 31 Dece mber 2018 and as of 31 December 2017. |
UBS AG | |
Transferred Financial Assets That Are Not Derecognized In Their Entirety [Line Items] | |
Disclosure Of Transfers Of Financial Assets Explanatory | b) Transferred financial assets tha t are not derecognized in their entirety The table below presents information for financial assets that have been transferred but are subject to continued recognition in full, as well as recognized liabilities associated with those transferred assets. Transferred financial assets subject to continued recognition in full USD million 31.12.18 31.12.17 Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 32,121 4,674 36,277 13,277 relating to securities lending and repurchase agreements in exchange for cash received 4,726 4,674 13,485 13,277 relating to securities lending agreements in exchange for securities received 26,234 0 21,684 0 relating to other financial asset transfers 1,161 0 1,109 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 0 0 174 173 Total financial assets transferred 32,121 4,674 36,451 13,450 Transactions in which financial assets are transfer red, but continue to be recognized in their entirety on UBS AG’s balance sheet include securities lending and repurchase agreements as well as other financial asset transfers. Repurchase and securities lending arrangements are, for the most part, conducted under standard market agreements and are undertaken with counterparties subject to UBS AG’s normal credit risk control processes. Refer to Note 1a item 3e for more information on repurchase and securities lending agreements As of 31 Decem ber 2018, appro ximately 14% of the transferred financial assets were assets held for trading transferred in exchange for cash, in which case the associated recognized liability represents the amount to be repaid to counterparties. For securities lending and repurchase ag reements, a haircut between 0% and 15% is generally applied to the transferred assets, which results in associated liabilities having a carrying value below the carrying value of the transferred assets. The counterparties to the associated liabilities pres ented in the table above have full recourse to UBS AG. In securities lending arrangements entered into in exchange for the receipt of other securities as collateral, neither the securities received nor the obligation to return them are recognized on UBS AG ’s balance sheet, as the risks and rewards of ownership are not transferred to UBS AG. In cases where such financial assets received are subsequently sold or repledged in another transaction, this is not considered to be a transfer of financial assets. Oth er financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the carrying value of associated liabilities is not provided in the table above because those replacement values are managed on a port folio basis across counterparties and product types, and therefore there is no direct relationship between the specific collateral pledged and the associated liability. Transferred financial assets that are not subject to derecognition in full, but remain on the balance sheet to the extent of UBS AG ’s continuing involvement, were not material as of 31 December 2018 and as of 31 December 2017. |
Transferred financial assets _2
Transferred financial assets that are derecognized in their entirety with continuing involvement | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Transferred Financial Assets [Line Items] | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets Explanatory | c) Transferred financial assets that are derecognized in their entirety with continuing involvement Continuing involvement in a transferred and fully derecognized financial asset may result from contractual provisions in the transfer agreement or from a separate agreement with the counterparty or a third party entered into in c onnection with the transfer. Purchased and retained interests in securitization vehicles In cases where UBS has transferred assets into a securitization vehicle and retained or purchased interests therein, UBS has a continuing involvement in those transfe rred assets. As of 31 December 2018, the majority of the retained continuing involvement related to securitization positions held as financial assets at fair value held for trading, primarily collateralized debt obligations, US commercial mortgage-bac ked securities and residential mortgage-backed securities. The fair value and carrying amount of UBS’s continuing involvement related to these purchased and retained interests was USD 6 million as of 31 December 2018, and UBS recognized gains of USD 3 mill ion in 2018 related to these positions. As of 31 December 2018, life-to-date losses of USD 1,198 million were recorded related to the positions held as of 31 December 2018. As of 31 December 2017, the fair value and carrying amount of UBS’s continuing inv olvement related to purchased and retained interests in securitization vehicles was USD 8 million, and UBS recognized gains of USD 4 million in 2017 related to these positions. As of 31 December 2017, life-to-date losses of USD 1,200 million were recorded related to the positions held as of 31 December 2017. The maximum exposure to loss related to purchased and retained interests in securitization structures was USD 10 million as of 31 December 2018 , compared with USD 15 million as of 31 December 2017. Undi scounted cash outflows of USD 4 million may be payable to the transferee in future periods as a consequence of holding the purchased and retained interests. The earliest period in which payment may be required is less than one month. |
UBS AG | |
Disclosure Transferred Financial Assets [Line Items] | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets Explanatory | c) Transferred financial assets that are derecognized in their entirety with continuing involvement Continuing involvement in a transferred and fully derecognized financial asset may result from contractual provisions in the transfer agreement or from a separate agreement with the counterparty or a third party entered into in connection with the transfer. Purchased and retained interests in securitization vehicles In cases where UBS AG has transferred assets into a securitization veh icle and retained or purchased interests therein, UBS AG has a continuing involvement in those transferred assets. As of 31 December 2018, the majority of the retained continuing involvement related to securitization positions held as financial assets at fair value held for trading, primarily collateralized debt obligations, US commercial mortgage-backed securities and residential mortgage-backed securities. The fair value and carrying amount of UBS AG ’s continuing involvement related to these purchased an d retained interests was USD 6 million as of 31 December 2018, a nd UBS AG recognized gains of USD 3 million in 2018 related to these positions. As of 31 December 2018, life-to-date losses of USD 1 , 198 million were recorded related to the positions held as of 31 December 2018. As of 31 December 2017, the fair value and carrying amount of UBS AG ’s continuing involvement related to purchased and retained interests in securitization vehicles was USD 8 million, and UBS AG recognized gains of USD 4 million in 20 17 related to these positions. As of 31 December 2017, life-to-date losses of USD 1,200 million were recorded related to the positions held as of 31 December 2017. The maximum exposure to loss related to purchased and retained interests in securitization s tructures was USD 10 million as of 31 December 2018 , compared with USD 15 million as of 31 December 2017. Undiscounted cash outflows of USD 4 million may be payable to the transferee in future periods as a consequence of holding the purchased and retained interests. The earliest period in which payment may be required is less than one month. |
Off-balance sheet assets receiv
Off-balance sheet assets received | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Off-balance Sheet Assets Received [Line Items] | |
Disclosure Of Off Balance Sheet Assets Received Text Block | d) Off-balance sheet assets received The table below presents assets received from third parties that can be sold or repledged, that are not recognized on the balance sheet, but that are held as collateral, including amounts that have been sold or repledged . Off-balance sheet assets received USD million 31.12.18 31.12.17 Fair value of assets received that can be sold or repledged 483,688 481,265 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 473,302 474,420 received in unsecured borrowings 10,385 6,845 Thereof sold or repledged 2 356,745 346,243 in connection with financing activities 315,402 300,880 to satisfy commitments under short sale transactions 28,943 31,251 in connection with derivative and other transactions 1 12,400 14,112 1 Includes securities received as initial margin from its clients that UBS is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
UBS AG | |
Disclosure Off-balance Sheet Assets Received [Line Items] | |
Disclosure Of Off Balance Sheet Assets Received Text Block | d) Off-balance sheet assets received The table below presents assets received from third parties that can be sold or repledged, that are not recognized on the balance sheet, but that are held as collateral, including amounts that have been sold or repledged . Off-balance sheet assets received USD million 31.12.18 31.12.17 Fair value of assets received that can be sold or repledged 483,688 481,265 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 473,302 474,420 received in unsecured borrowings 10,385 6,845 Thereof sold or repledged 2 356,752 346,243 in connection with financing activities 315,402 300,880 to satisfy commitments under short sale transactions 28,949 31,251 in connection with derivative and other transactions 1 12,400 14,112 1 Includes securities received as initial margin from its clients that UBS AG is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Maturity analysis of financial
Maturity analysis of financial liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Measurement categories, credit risk and maturity analysis of financial instruments [text block] | Note 27 Maturity analysis of financial liabilities The contractual maturities for non-derivative and non-trading financial liabilities as of 31 December 2018 are based on the earliest date on which UBS could be contractually r equired to pay. The total amounts that contractually mature in each time band are also shown for 31 December 2017. Derivative positions and trading liabilities, predominantly made up of short sale transactions, are assigned to the column Due within 1 month , as this provides a conservative reflection of the nature of these trading activities. The contractual maturities may extend over significantly longer periods Maturity analysis of financial liabilities 31.12.18 USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 1 Amounts due to banks 7.9 1.0 1.6 0.5 0.0 11.0 Payables from securities financing transactions 9.5 0.6 0.3 0.0 10.4 Cash collateral payables on derivative instruments 28.9 28.9 Customer deposits 395.8 13.1 7.0 4.4 0.0 420.4 Debt issued measured at amortized cost 2 4.6 6.3 39.9 57.6 37.8 146.2 Other financial liabilities measured at amortized cost 5.6 5.6 Total financial liabilities measured at amortized cost 452.4 21.0 48.8 62.6 37.8 622.6 Financial liabilities at fair value held for trading 3,4 28.9 28.9 Derivative financial instruments 3 125.7 125.7 Brokerage payables designated at fair value 38.4 38.4 Debt issued designated at fair value 5 15.7 18.1 10.2 7.4 8.0 59.4 Other financial liabilities designated at fair value 30.0 0.4 1.1 1.2 1.0 33.7 Total financial liabilities measured at fair value through profit or loss 238.8 18.5 11.3 8.6 9.0 286.2 Total 691.2 39.5 60.1 71.2 46.8 908.8 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 34.1 0.3 0.3 0.0 34.7 Guarantees 7 19.8 19.8 Forward starting transactions Reverse repurchase agreements 7 9.0 0.0 9.0 Securities borrowing agreements 0.0 0.0 Total 62.9 0.3 0.4 0.0 0.0 63.6 31.12.17 Financial liabilities recognized on balance sheet 1 Amounts due to banks 6.3 0.4 1.0 0.1 0.0 7.7 Payables from securities financing transactions 13.9 3.1 0.6 0.0 0.0 17.7 Cash collateral payables on derivative instruments 31.0 31.0 Customer deposits 403.2 10.5 5.3 0.7 0.1 419.7 Debt issued measured at amortized cost 2 4.2 15.4 46.4 52.1 39.1 157.1 Other financial liabilities measured at amortized cost 36.0 36.0 Total financial liabilities measured at amortized cost 494.6 29.4 53.3 52.9 39.2 669.3 Financial liabilities at fair value held for trading 3,4 31.3 31.3 Derivative financial instruments 3 119.1 119.1 Debt issued designated at fair value 5 18.3 10.0 10.3 7.7 6.2 52.6 Other financial liabilities designated at fair value 12.4 0.6 1.5 1.4 1.0 17.0 Total financial liabilities measured at fair value through profit or loss 181.1 10.6 11.9 9.1 7.3 219.9 Total 675.7 40.0 65.1 61.9 46.4 889.2 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 39.2 0.2 0.2 0.1 39.7 Guarantees 7 19.3 0.0 19.3 Forward starting transactions Reverse repurchase agreements 7 13.0 13.0 Securities borrowing agreements 0.0 0.0 Total 71.5 0.2 0.2 0.1 0.0 72.0 1 Except for financial liabilities at fair value held for trading and derivative financial instruments (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 2 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). 5 Future interest payments on variable-rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 7 Loan commitments measured at fair value of USD 3.5 billion, guarantees measured at fair value of USD 1.6 billion and forward starting reverse repurchase agreements measured at fair value of USD 8.1 billion are under the time bucket Due within 1 month. |
UBS AG | |
Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Measurement categories, credit risk and maturity analysis of financial instruments [text block] | Note 27 Maturity analysis of financial liabilities The contractual maturities for non-derivative and non-trading financial liabilities as of 31 December 2018 are based on the earliest date on which UBS could be contractually required to pay. The total amounts that contractually mature in each time band are also shown for 31 December 2017. Derivative positions and trading liabilities, predominantly made up of short sale transactions, are assigned to the column Due within 1 month, as this provides a conservative reflection of the nature of these trading activities. The contractual maturities may extend over significantly longer periods. Maturity analysis of financial liabilities 31.12.18 USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 1 Amounts due to banks 7.9 1.0 1.6 0.5 0.0 11.0 Payables from securities financing transactions 9.5 0.6 0.3 0.0 10.4 Cash collateral payables on derivative instruments 28.9 28.9 Customer deposits 396.6 13.4 6.9 5.1 0.0 422.1 Funding from UBS Group AG and its subsidiaries 2 0.0 0.0 0.5 21.9 22.0 44.4 Debt issued measured at amortized cost 2 4.6 5.8 39.1 34.7 12.4 96.5 Other financial liabilities measured at amortized cost 6.4 6.4 Total financial liabilities measured at amortized cost 453.9 20.8 48.4 62.3 34.3 619.7 Financial liabilities at fair value held for trading 3,4 29.0 29.0 Derivative financial instruments 3 125.7 125.7 Brokerage payables designated at fair value 38.4 38.4 Debt issued designated at fair value 5 15.7 18.1 10.2 7.4 8.0 59.4 Other financial liabilities designated at fair value 30.0 0.4 1.1 1.2 1.0 33.7 Total financial liabilities measured at fair value through profit or loss 238.8 18.5 11.3 8.6 9.0 286.2 Total 692.7 39.3 59.7 70.9 43.3 905.9 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 34.1 0.3 0.3 0.0 34.7 Guarantees 7 19.8 19.8 Forward starting transactions Reverse repurchase agreements 7 9.0 0.0 9.0 Securities borrowing agreements 0.0 0.0 Total 62.9 0.3 0.4 0.0 0.0 63.6 31.12.17 Financial liabilities recognized on balance sheet 1 Amounts due to banks 6.3 0.4 1.0 0.1 0.0 7.7 Payables from securities financing transactions 13.9 3.1 0.6 0.0 0.0 17.7 Cash collateral payables on derivative instruments 31.0 31.0 Customer deposits 405.0 11.3 5.2 0.9 0.0 422.4 Funding from UBS Group AG and its subsidiaries 2 0.4 0.7 21.9 19.6 42.6 Debt issued measured at amortized cost 2 4.2 14.8 45.6 35.7 12.8 113.1 Other financial liabilities measured at amortized cost 36.8 36.8 Total financial liabilities measured at amortized cost 497.2 30.1 53.2 58.6 32.4 671.4 Financial liabilities at fair value held for trading 3,4 31.3 31.3 Derivative financial instruments 3 119.1 119.1 Debt issued designated at fair value 5 18.3 10.0 8.5 7.7 6.2 50.7 Other financial liabilities designated at fair value 12.4 0.6 3.4 1.4 1.0 18.8 Total financial liabilities measured at fair value through profit or loss 181.1 10.6 11.9 9.1 7.3 219.9 Total 678.3 40.7 65.0 67.6 39.7 891.3 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 39.2 0.2 0.2 0.1 39.7 Guarantees 7 19.3 0.0 19.3 Forward starting transactions Reverse repurchase agreements 7 13.0 13.0 Securities borrowing agreements 0.0 0.0 Total 71.5 0.2 0.2 0.1 0.0 72.0 1 Except for financial liabilities at fair value held for trading and derivative financial instruments (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 2 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). 5 Future interest payments on variable-rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 7 Loan commitments measured at fair value of USD 3.5 billion, guarantees measured at fair value of USD 1.6 billion and forward starting reverse repurchase agreements measured at fair value of USD 8.1 billion are under the time bucket Due within 1 month. |
Hedge accounting
Hedge accounting | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Hedge Accounting [Line Items] | |
Disclosure Of General Hedge Accounting Explanatory | Note 28 Hedge accounting Derivatives transacted for hedging purposes The Group enters into derivative transactions for the purpose of hedging risks inherent in assets, liabilities and forecast transactions. The accounting treatment of hedge transactions varies according to the nature of the instrument hedged and whether the hedge qualifies as such for accounting purposes. Derivative transactions that qualify and are designated as hedges for accounting purposes are described under the corresponding risk category headings in this Note (interest rate risk hedge accounting and structural foreign exchange risk hedge accounting) . In addition, UBS designates certain non-derivative financial assets and liabilities as hedging instruments in structural foreign exchange risk hedge accounting, as described under the corresponding risk category headings of this Note. The Group has also executed various hedging strategies utilizing derivatives for which hedge accounting has not been applied. These economic hedges include interest rate swaps and other interest rate derivatives (e.g., futures) for day-to-day economic interest rate risk man agement purposes. In addition, the Group has used equity futures, options and, to a lesser extent, swaps in a variety of equity trading strategies to offset underlying equity and equity volatility exposure. The Group has also entered into credit default sw aps that provide economic hedges for credit risk exposures (refer to “Credit derivatives” in Note 11 ). The Group’s accounting policies for derivatives designated and accounted for as hedging instruments or economic hedges that do not quali fy for hedge accounting are described in Note 1 a item 3j, where terms used in the following sections are explained. Interest rate risk hedge accountin g Fair value hedges: interest rate risk related to debt instruments The Group issues various long-term, fixed-rate debt instruments measured at amortized cost, such as senior unsecured debt, covered bonds and subordinated debt, tha t are exposed to changes in fair value due to movements in market interest rates. Interest rate swaps are used as fair value hedges to protect against changes in the fair value of the issued debt. Fair value hedges of interest rate risk related to debt ins truments involve swapping fixed cash flows associated with the debt issued to floating cash flows by entering into interest rate swaps that receive fixed and pay floating cash flows. The variable future cash flows are based on the following benchmark rates : USD LIBOR , CHF LIBOR , EURIBOR , GBP LIBOR , AUD LIBOR , JPY LIBOR and SGD LIBOR . The issued debt and interest rate swaps are designated in a fair value hedge relationship. The notional of the designated hedging instrument matches the notional of the hedged item. The hedged risk is determined as the change in the fair value of the debt issued arising solely from changes in the designated benchmark interest rate (e.g., one-month or three -month LIBOR). Such change is usually the largest component of the overall change in the fair value of the hedged position in transaction currency. Hedge effectiveness is assessed by comparing changes in the fair value of the debt issued attributable to changes in the designated benchmark interest rate with the changes in the f air value of the interest rate swaps. Hedge ineffectiveness can arise from different curves used for the discounting of the hedging instrument s and the hedged item s , or from mismatches of critical terms between fixed - term lending products a nd hedging interest rate swaps. Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 63,816 Carrying amount Derivative financial assets 27 49 Derivative financial liabilities 1 2 Hedged items: debt issued measured at amortized cost Carrying amount 1 63,785 of which: accumulated amount of fair value hedge adjustment (298) 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (341) (16) 166 Changes in fair value of hedged items 1 329 (4) (170) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (11) (20) (4) 1 For prior periods, the amounts included offsetting accrued interest, which did not have any effect on net gains / (losses) related to hedge ineffectiveness. Profile of the timing of the nominal amount of the hedging instrument USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 4 43 17 64 Fair value hedges: portfolio interest rate risk related to loans The Group has a portfolio of long-term fixed- rate mortgage loan s in CHF that are measured at amortized cost and exposed to changes in the fair value attributable to movements in market interest rates. Interest rate swaps that pay a fixed rate of interest and receive a floating rate of interest are used as fair value hedges to protect against changes in the fair value of the originated loans . The portfolio of mortga ge loans and interest rate swaps are designated in a fair value hedge relationship. The notional of the designated hedging instrument matches the notional of the hedged item. The hedging strategy involves an open portfolio of hedged items , i.e. , mortgage l oans. Both the hedged item s and the hedging instruments are adjusted on a monthly basis to reflect changes in size and the maturity profile of the hedged portfolio. The existing hedging relationship is discontinued and a new one is designated . Changes in t he portfolio are driven by n ew loans ori ginated or existing loans repaid. The hedged risk is determined as the change in the fair value of the loans arising solely from changes in the designated benchmark interest rate (e.g., one-month or three -month LIBO R ) . Such change is usually the largest component of the overall change in the fair value of the hedged position in transaction currency. H edge effectiveness is assessed by comparing changes in the fair value of the hedge d portfolio of loans attributable t o changes in the designated benchmark interest rate with the changes in the fair value of the interest rate swaps. Hedge ineffectiveness can arise from different curves used for the discounting o f the hedging instruments and the hedged items, or from misma tches of critical terms between fixed - term lending products and hedging interest rate swaps . Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 10,318 Carrying amount Derivative financial assets 0 0 Derivative financial liabilities 31 33 Hedged items: loans and advances to customers Carrying amount 1 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 2 200 of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting 2 89 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts presented within Other financial assets measured at amortized cost and Other financial liabilities measured at amortized cost. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (22) (10) (132) Changes in fair value of hedged items 1 16 3 119 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (6) (7) (13) 1 For prior periods, the amounts included offsetting accrued interest, which had no effect on net gains / (losses) related to hedge ineffectiveness. Cash flow hedges of forecast transactions The Group is exposed to variability in future interest cash flows on non-trading financial assets and liabilities that bear interest at variable rates or are expected to be refinanced or reinvested in the future, due to movements in future market rates. Th e amounts and timing of future cash flows, representing both principal and interest flows, are projected on the basis of contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate principal balances and int erest cash flows across all portfolios over time form the basis for identifying the non-trading interest rate risk of the Group, which is hedged with interest rate swaps, the maximum maturity of which is 10 years. The group of forecast cash flows and inte rest rate swaps are designated in cash flow hedge relationships. The notional of the designated hedging instrument matches the notional of the hedged item for newly transacted swaps. For swaps that are re-designated , the ratio of the designation is determi ned based on the swap sensitivity. The hedging strategy involves designation of each interest rate swap in a separate hedge relationship against a group of hedged items that share the same risk. The hedged items giving rise to the hedged cash flows are fun gible and could be substituted for each other over the lifetime of the hedge. C ash flow forecasts and risk exposures are monitored and adjusted on an ongoing basis , and consequently hedging instruments are added or taken out of the program accordingly. The hedged risk is determined as the variability of future cash flows arising solely from changes in the designated benchmark interest rate , i.e. , overnight index swap rate / one-month or three -month LIBOR. H edge effectiveness is assessed by comparing chan ges in the fair value of the hedged cash flows attributable to changes in the designated benchmark interest rate with the changes in the fair value of the interest rate swaps. Hedge ineffectiveness can arise from differences in the reference index of the h edging instruments and hedged items, or from inception of the hedge relationship after the trade date of the hedging derivative. Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 70,149 Carrying amount Derivative financial assets 24 31 Derivative financial liabilities 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 97 Changes in fair value of hedged items (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income (42) 45 234 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 25 8 11 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Other comprehensive income recognized directly in equity related to cash flow hedges USD million 2018 2017 2016 Balance at the beginning of the year 360 955 1,635 Effective portion of changes in fair value of hedging instruments recognized in OCI (42) 45 234 Amount reclassified to Net interest income when the hedged item affected net profit / (loss) (294) (843) (1,094) of which: reclassified to interest income on amortized-cost instruments 1 (293) of which: reclassified to interest income on FVTPL instruments 1 (1) Translation effects recognized directly in retained earnings 18 39 4 Income tax related to cash flow hedges 67 163 176 Balance at the end of the year 109 360 955 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 73 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts are disclosed on a pre-tax basis. Structural foreign exchange risk hedge accounting Hedges of net investments in foreign operations The Group applies hedge accounting for certain net investments in foreign operations. For this purpose , foreign exchange (FX) derivatives, mainly FX forwards and FX swaps , as well as non-derivative financial assets or liabilities are used and designated as hedging instruments. The notional of the designated hedging instrument matches the notional of the hedged item. Based on UBS’s risk management strategy , the hedges are adjusted on at least a monthly basis to reflect the changes in the hedged position. The hedged risk is determined as the change in the carrying amount of net assets of foreign operations arising solely from changes in spot foreign exchange rates. Con sequently, the Group only designates the spot element of the FX forwards as hedging instruments. Changes in the fair value of the hedging instruments attributable to changes in forward points and the effect of discounting are not part of a hedge accounting designation. These amounts, therefore, do not form part of the effectiveness assessment and are recognized directly in profit or loss. The effective portion of gains and losses of these FX swaps , i.e. , the spot element, is transferred directly to OCI to offset foreign currency translation (FCT) gains and losses on the net investments in foreign branches and subsidiaries. As such, these FX swaps hedge the structural FX exposure, resulting in the accumulation of FCT at the level of individual foreign branch es and subsidiaries, which make up the total FCT OCI of the Group. When UBS designates as hedging instruments certain non-derivative foreign currency financial assets and liabilities of foreign branches or subsidiaries, the FX translation difference record ed in FCT OCI of the non-derivative hedging instrument of one foreign entity offsets the structural FX exposure of another foreign entity. Therefore, the aggregated FCT OCI of the Group is unchanged from this hedge designation. Due to the fact that only t he spot element of hedging instruments is designated in hedging relationships, in effectiveness is unlikely unless the hedged net assets fall below the designated hedged amount. The exception s are hedges where the hedging currency is not the same as the cur rency of the foreign operation , where the currency basis may cause ineffectiveness. As of 31 December 2017, the notional amount of hedging instruments exceeded the underlying hedged structural FX exposures, due to the fact that non-US dollar structural FX ex posures were hedged against the US dollar first and then against Swiss francs, the former functional currency of the parent entity. As of 31 December 2018 all structural FX exposur es are hedged directly against the US dollar. Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: derivative financial instruments Nominal amount 11,537 13,374 Carrying amount Derivative financial assets 56 80 Derivative financial liabilities 48 133 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 229 2,969 Carrying amount 1 Receivables from securities financing transactions 115 Payables from securities financing transactions 115 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 Changes in fair value of hedging instruments 1 205 Changes in fair value of hedged items 1 (205) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI 1 181 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 1 24 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Foreign currency translation reserve USD million 31.12.18 31.12.17 31.12.16 Foreign currency translation reserve 3,924 4,466 2,901 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 777 of which: for which hedge accounting continues to be applied 1 521 of which: for which hedge accounting is no longer applied 1 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Undiscounted cash flows The table below provides undiscounted cash flow information for derivative instruments designated in hedge accounting relationships. Derivatives designated in hedge accounting relationships (undiscounted cash flows) USD billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 9 2 0 0 0 11 Cash outflows 0 9 2 0 0 0 11 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2018 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
UBS AG | |
Disclosure Of Hedge Accounting [Line Items] | |
Disclosure Of General Hedge Accounting Explanatory | Note 28 Hedge accounting Derivatives transacted for hedging purposes UBS AG enters into derivative transactions for the purpose of hedging risks inherent in assets, liabilities and forecast transactions. The accounting treatment of hedge transactions varies according to the nature of the instrument hedged and whether the hedge qualifies as such for accounting purposes. Derivative transactions that qualify and are designated as hedges for accounting purposes are described under the corresponding risk category headings in this Note ( interest rate risk hedge accounting and structural foreign exchange risk hedge accounting ). In addition, UBS designates certain non-derivative financial assets and liabilities as hedging instruments in structural foreign exchange risk hedge accounting, as described under the corresponding risk category headings of this Note. UBS AG has also exe cuted various hedging strategies utilizing derivatives for which hedge accounting has not been applied. These economic hedges include interest rate swaps and other interest rate derivatives (e.g., futures) for day-to-day economic interest rate risk managem ent purposes. In addition, UBS AG has used equity futures, options and, to a lesser extent, swaps in a variety of equity trading strategies to offset underlying equity and equity volatility exposure. UBS AG has also entered into credit default swaps that p rovide economic hedges for credit risk exposures (refer to “Credit derivatives” in Note 11 ). UBS AG’s accounting policies for derivatives designated and accounted for as hedging instruments or economic hedges that do not qualify f or hedge accounting are described in Note 1 a item 3j, where terms used in the following sections are explained. Interest rate risk hedge accountin g Fair value hedges: interest rate risk related to debt instruments UBS AG issues various long-term, fixed-rate debt instruments measured at amortized cost, such as senior unsecured debt, covere d bonds and subordinated debt, that are exposed to changes in fair value due to movements in market interest rates. Interest rate swaps are used as fair value hedges to protect against changes in the fair value of the issued debt. Fair value hedges of inte rest rate risk related to debt instruments involve swapping fixed cash flows associated with the debt issued to floating cash flows by entering into interest rate swaps that receive fixed and pay floating cash flows. The variable future cash flows are base d on the following benchmark rates: USD LIBOR , CHF LIBOR , EURIBOR , GBP LIBOR , AUD LIBOR , JPY LIBOR and SGD LIBOR . The issued debt and interest rate swaps are designated in a fair value hedge relationship. The notional of the designated hedging instrument matches the notional of the hedged item. The hedged risk is determined as the change in the fair value of the debt issued arising solely from changes in the designated benchmark interest rate (e.g., one-month or three -month LIBOR). Such change is usually the largest component of the overall change in the fair value of the hedged position in transaction currency. Hedge effectiveness is assessed by comparing changes in the fair value of the debt issued attributable to c hanges in the designated benchmark interest rate with the changes in the fair value of the interest rate swaps. Hedge ineffectiveness can arise from different curves used for the discounting of the hedging instrument s and the hedged item s , or from mismatch es of critical terms between fixed - term lending products and hedging interest rate swaps. Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 63,816 Carrying amount Derivative financial assets 27 49 Derivative financial liabilities 1 2 Hedged items: debt issued measured at amortized cost Carrying amount 1 28,139 of which: accumulated amount of fair value hedge adjustment 282 Hedged items: funding from UBS Group AG and its subsidiaries Carrying amount 1 35,647 of which: accumulated amount of fair value hedge adjustment (580) 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (341) (16) 166 Changes in fair value of hedged items 1 329 (4) (170) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (11) (20) (4) 1 For prior periods, the amounts included offsetting accrued interest, which did not have any effect on net gains / (losses) related to hedge ineffectiveness. Profile of the timing of the nominal amount of the hedging instrument USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 4 43 17 64 Fair value hedges: portfolio interest rate risk related to loans UBS AG has a portfolio of long-term fixed- rate mortgage loan s in CHF that are measured at amortized cost and exposed to changes in the fair value attributable to movements in market interest rates. Int erest rate swaps that pay a fixed rate of interest and receive a floating rate of interest are used as fair value hedges to protect against changes in the fair value of the originated loans . The portfolio of mortgage loans and interest rate swaps are desig nated in a fair value hedge relationship. The notional of the designated hedging instrument matches the notional of the hedged item. The hedging strategy involves an open portfolio of hedged items , i.e. , mortgage loans. Both the hedged item s and the hedgin g instruments are adjusted on a monthly basis to reflect changes in size and the maturity profile of the hedged portfolio. The existing hedging relationship is discontinued and a new one is designated . Changes in the portfolio are driven by n ew loans ori gi nated or existing loans repaid. The hedged risk is determined as the change in the fair value of the loans arising solely from changes in the designated benchmark interest rate (e.g., one-month or three -month LIBOR ) . Such change is usually the largest com ponent of the overall change in the fair value of the hedged position in transaction currency. H edge effectiveness is assessed by comparing changes in the fair value of the hedge d portfolio of loans attributable to changes in the designated benchmark inte rest rate with the changes in the fair value of the interest rate swaps. Hedge ineffectiveness can arise from different curves used for the discounting o f the hedging instruments and the hedged items, or from mismatches of critical terms between fixed - term lending products and hedging interest rate swaps . Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 10,318 Carrying amount Derivative financial assets 0 0 Derivative financial liabilities 31 33 Hedged items: loans and advances to customers Carrying amount 1 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 2 200 of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting 2 89 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts presented within Other financial assets measured at amortized cost and Other financial liabilities measured at amortized cost. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (22) (10) (132) Changes in fair value of hedged items 1 16 3 119 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (6) (7) (13) 1 For prior periods, the amounts included offsetting accrued interest, which had no effect on net gains / (losses) related to hedge ineffectiveness. Cash flow hedges of forecast transactions UBS AG is exposed to variability in future interest cash flows on non-trading financial assets and liabilities that bear interest at variable rates or are expected to be refinanced or reinvested in the future, due to movements in future market rates. The amounts and timing of future cash flows, representing both principal and interest flows, are projected on the basis of contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate principal balances and interest cash flows across all portfolios over time form the basis for identifying the non-trading interest rate risk of UBS AG , which is hedged with interest rate swaps, the maximum maturit y of which is 10 years. The group of forecast cash flows and interest rate swaps are designated in cash flow hedge relationships. The notional of the designated hedging instrument matches the notional of the hedged item for newly transacted swaps. For swa ps that are re-designated , the ratio of the designation is determined based on the swap sensitivity. The hedging strategy involves designation of each interest rate swap in a separate hedge relationship against a group of hedged items that share the same r isk. The hedged items giving rise to the hedged cash flows are fungible and could be substituted for each other over the lifetime of the hedge. C ash flow forecasts and risk exposures are monitored and adjusted on an ongoing basis , and consequently hedging instruments are added or taken out of the program accordingly. The hedged risk is determined as the variability of future cash flows arising solely from changes in the designated benchmark interest rate , i.e. , overnight index swap rate / one-month or thre e -month LIBOR. H edge effectiveness is assessed by comparing changes in the fair value of the hedged cash flows attributable to changes in the designated benchmark interest rate with the changes in the fair value of the interest rate swaps. Hedge ineffectiv eness can arise from differences in the reference index of the hedging instruments and hedged items, or from inception of the hedge relationship after the trade date of the hedging derivative. Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 70,149 Carrying amount Derivative financial assets 24 31 Derivative financial liabilities 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 97 Changes in fair value of hedged items (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income (42) 45 234 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 25 8 11 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Other comprehensive income recognized directly in equity related to cash flow hedges USD million 2018 2017 2016 Balance at the beginning of the year 360 955 1,635 Effective portion of changes in fair value of hedging instruments recognized in OCI (42) 45 234 Amount reclassified to Net interest income when the hedged item affected net profit / (loss) (294) (843) (1,094) of which: reclassified to interest income on amortized-cost instruments 1 (293) of which: reclassified to interest income on FVTPL instruments 1 (1) Translation effects recognized directly in retained earnings 18 39 4 Income tax related to cash flow hedges 67 163 176 Balance at the end of the year 109 360 955 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 73 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts are disclosed on a pre-tax basis. Structural foreign exchange risk hedge accounting Hedges of net investments in foreign operations UBS AG applies hedge accounting for certain net investments in foreign operations. For this purpose , foreign exchange (FX) derivatives, mainly FX forwards and FX swaps , as well as non-derivative financial assets or liabilities are used and designated as hedging instruments. The notional of the designated hedging instrument matches the notional of the hedged item. Based on UBS’s risk management strategy , the hedges are adjusted on at least a monthly basis to reflect the changes in the hedged position. The hedged risk is determined as the change in the carrying amount of net assets of foreign operations arising solely from changes in spot foreign exchange rates. Consequently, UBS AG only designates the spot element of the FX forwards as hedging instruments. Changes in the fair value of the hedging instruments attributable to changes in forward points and the effect of discounting are not part of a hedg e accounting designation . These amounts, therefore, do not form part of the effectiveness assessment and are recogni zed directly in profit or loss. The effective portion of gains and losses of these FX swaps , i.e. , the spot element, is transferred directly to OCI to offset foreign currency translation (FCT) gains and losses on the net investments in foreign branches an d subsidiaries. As such, these FX swaps hedge the structural FX exposure, resulting in the accumulation of FCT at the level of individual foreign branches and subsidiaries, which make up the total FCT OCI of UBS AG. When UBS designates as hedging instrumen ts certain non-derivative foreign currency financial assets and liabilities of foreign branches or subsidiaries, the FX translation difference recorded in FCT OCI of the non-derivative hedging instrument of one foreign entity offsets the structural FX expo sure of another foreign entity. Therefore, the aggregated FCT OCI of UBS AG is unchanged from this hedge designation. Due to the fact that only the spot element of hedging instruments is designated in hedging relationships, in effectiveness is unlikely unl ess the hedged net assets fall below the designated hedged amount. The exception s are hedges where the hedging currency is not the same as the currency of the foreign operation , where the currency basis may cause ineffectiveness. As of 31 December 2017, th e notional amount of hedging instruments exceeded the underlying hedged structural FX exposures, due to the fact that non-US dollar structural FX exposures were hedged against the US dollar first and then against Swiss francs, the former functional currenc y of the parent entity. As of 31 December 2018 all structural FX exposures are hedged directly against the US dollar. Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: derivative financial instruments Nominal amount 11,432 13,237 Carrying amount Derivative financial assets 56 79 Derivative financial liabilities 45 132 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 229 2,970 Carrying amount 1 Receivables from securities financing transactions 115 Payables from securities financing transactions 115 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 Changes in fair value of hedging instruments 1 199 Changes in fair value of hedged items 1 (199) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI 1 181 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 1 18 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Foreign currency translation reserve USD million 31.12.18 31.12.17 31.12.16 Foreign currency translation reserve 3,940 4,455 2,933 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 770 of which: for which hedge accounting continues to be applied 1 515 of which: for which hedge accounting is no longer applied 1 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Undiscounted cash flows The table below provides undiscounted cash flow information for derivative instruments designated in hedge accounting relationships. Derivatives designated in hedge accounting relationships (undiscounted cash flows) USD billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 9 2 0 0 0 11 Cash outflows 0 9 2 0 0 0 11 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2018 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
Pension and other post-employme
Pension and other post-employment benefit plans | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Pension And Other Postemployment Benefit Plans [Line Items] | |
Pension and other post-employment benefit plans [text block] | Note 29 Pension and other post-employment benefit plans The table below provides a breakdown of expenses related to pension and other post-employment benefit plans recognized in the income statement within Personnel expenses . Income statement – expenses related to pension and other post-employment benefit plans USD million 31.12.18 31.12.17 31.12.16 Net periodic expenses for defined benefit plans 188 481 440 of which: related to major pension plans 1 186 460 417 of which: Swiss plan 2 153 414 386 of which: UK plan 11 15 (2) of which: US and German plans 22 31 34 of which: related to post-employment medical insurance plans 3 (11) 3 4 of which: UK plan 1 1 1 of which: US plans (12) 2 3 of which: related to remaining plans and other expenses 4 13 17 19 Expenses for defined contribution plans 5 268 243 238 of which: UK plans 80 72 78 of which: US plan 127 110 107 of which: remaining plans 61 61 53 Total pension and other post-employment benefit plan expenses 6 457 723 678 1 Refer to Note 29a for more information. 2 Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 241 million related to past service. Refer to Note 29a for more information on these changes. 3 Refer to Note 29b for more information. 4 Other expenses include differences between actual and estimated performance award accruals. 5 Refer to Note 29c for more information. 6 Refer to Note 6. The table below provides a breakdown of amounts recognized in Other comprehensive income fo r defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.18 31.12.17 31.12.16 Major pension plans 1 (230) 253 (842) of which: Swiss plan (352) (79) (94) of which: UK plan 130 304 (623) of which: US and German plans (8) 28 (126) Post-employment medical insurance plans 2 7 1 (13) of which: UK plan 3 1 (5) of which: US plans 4 0 (7) Remaining plans 3 31 (26) Gains / (losses) recognized in other comprehensive income, before tax (220) 286 (880) Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 276 11 51 Gains / (losses) recognized in other comprehensive income, net of tax 3 56 296 (829) 1 Refer to Note 29a for more information. 2 Refer to Note 29b for more information. 3 Refer to the “Statement of comprehensive income.” UBS recognizes assets and liabilities with respect to defined benefit plans within Other non-financial assets and Other non-financial liabilities . As of 31 December 2018 and 31 December 2017, the Swiss pension plan was in a surplus situation. However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit. Since the estimated futu re economic benefit was zero as of 31 December 2018 and 31 December 2017, no net defined benefit pension asset was recognized on the balance sheet. The table below provides a breakdown of liabilities recognized on the balanc e sheet within Other non-financial liabilities related to defined benefit plans. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.18 31.12.17 Major pension plans 1 671 825 of which: Swiss plan 0 0 of which: UK plan 160 275 of which: US and German plans 2 511 550 Post-employment medical insurance plans 3 62 88 of which: UK plan 22 27 of which: US plans 40 61 Remaining plans 42 36 Total net defined benefit pension and post-employment liability 4 775 949 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). 3 Refer to Note 29b for more information. 4 Refer to Note 22. a) Defined benefit pension plans UBS has established defined benefit pension plans for its employees in various jurisdictions, with the major plans located in Switzerland, the UK, the US and Germany. The overall investment policy and strategy for UBS’s defined benefit pension plans is gu ided by the objective of achieving an investment return that, together with contributions, ensures that there will be sufficient assets to pay pension benefits as they fall due while also mitigating various risks. For the plans with assets, i.e. funded pla ns, the investment strategies are managed under local laws and regulations in each jurisdiction. The asset allocation is determined by the governance body with reference to the current and expected economic and market conditions and in consideration of spe cific asset class risk in the risk profile. Within this framework, UBS ensures that the fiduciaries consider how the asset investment strategy correlates with the maturity profile of the plan liabilities and the respective potential effect on the funded st atus of the plans, including potential short-term liquidity requirements. The defined benefit obligations (DBOs) for all of UBS’s defined benefit pension plans are directly affected by changes in yields of h igh-quality corporate bonds quoted in an active market in the currency of the respective pension plan, as the applicable discount rate used to determine the DBO is based on these yields. For the funded plans, the pension assets are invested in a diversifie d portfolio of financial assets, including real estate, bonds, investment funds and cash, across geographic regions, to ensure a balance of risk and return. Under IFRS, volatility arises in each pension plan’s net asset / liability position because the fai r value of the plan’s financial assets is not fully correlated to movements in the value of the plan’s DBO. Specific asset-liability matching strategies for each pension plan are independently determined by the responsible governance body. The net asset / liability volatility for each plan is dependent on the specific financial assets chosen by each plan’s governance body. For certain pension plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce potential volatil ity. Swiss pension plan The Swiss pension plan covers employees of UBS AG and employees of companies having close economic or financial ties with UBS AG, and exceeds the minimum benefit requirements under Swiss pension law. Contributions to the pension pla n are paid by both the employe r and the employe es . The Swiss pension plan allows emp l oyees to choose the level of contributions paid by them. Employee contributions are calculated as a percentage of the contributory salary and are deducted month l y. The per centages deducted from salary depend on age and choice of contribution category and v ary between 1% and 13.5% of contributory base sala ry and between 0% and 9% of contributory variable compensation. Depending on the age of the employee, UBS pays a contribu tion that ran ges between 6.5% and 27.5% of contributory base salar y and between 3.6% and 9% of contributory variable compensation. U BS also pays risk contributions that are used to finance benefits paid out in the event of death and disability, as well as to finance bridging pensions. The plan benefits include retirement , disability and survivor benefits . The pension plan offers to members at the normal retirement age of 64 a choice between a lifetime pension with or without full restitution and a partial o r full lump sum payment. Members can draw early retirement benefits starting from the age of 58. E mployees have the opportunity to make additional purchases of benefits to fund early retirement benefits (Plan 58+) . The pension amount payable is a result of the conversion rate applied on the accumulated balance of the individual plan participant’s pension account at the retirement date. The accumulated balance of each individual plan participant’s pension account is based on credited vested benefits transfer red from previous employers, purchases of benefits, and the employee and employer contributions that have been made to the pension account of each indi v i d ual plan participant, as well as the interest accrued on the accumulated balance. The interest rate ac crued is defined annually by the Pension Foundation Board. Although the Swiss pension plan is based on a defined contribution promise under Swiss pension law, it is accounted for as a defined benefit plan under IFRS, primarily because of the obligation to accrue interest on the pension accounts and the payment of lifetime pension benefits. The Swiss pension plan is governed by a Pension Foundation Board. The responsibilities of this board are defined by Swiss pension law and by the plan rules. An actuarial valuation under Swiss pension law is performed regularly. According to Swiss pension law, a temporary limited underfunding is permitted. However, should an underfunded situation occur, the Pension Foundation Board is required to take the necessary measure s to ensure that full funding can be expected to be restored within a maximum period of 10 years. If a Swiss pension plan were to become significantly underfunded on a Swiss pension law basis, additional employer and employee contributions could be require d. In th is situation, the risk is shared between employer and employees, and the employer is not legally obliged to cover more than 50% of the additional contributions required. As of 31 December 201 8 , the Swiss pension plan had a technical funding ratio u nder Swiss pension law of 124.2 % (31 December 201 7 : 131.9 %). The investment strategy of the Swiss plan is implemented on the basis of a multi-level investment and risk management process and complies with Swiss pension law, including the rules and regulations relating to diversification of plan assets. These rules, among others, specify restrictions on the composition of plan assets; e.g., there is a limit of 50% for investments in equities. The investment strategy of the Swiss plan is aligned with the defined risk budget set out by the Pension Foundation Board. The risk budget is determined on the basis of regularly performed asset and liability management analyses. In order to implement the risk budget, the Swiss plan may use direct investments, investment funds and derivatives. To mitigate foreign currency risk, a specific currency hedging strategy is in place. The Pension Foundation Board strives for a medium- and long-term balance between assets and liabilities. As of 31 December 2018, the Swiss pension plan was in a surplus situation on an IFRS measurement basis , as the fair value of plan assets exceeded the DBO by USD 3,274 million (31 December 2017 : surplus of USD 3,237 million). However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit, which equals the difference between the present value of the estimated future net service cost and the present value of the estimated future employer contributions. The maximum future economic benefit is highly variable based on changes in the dis count rate. As of both 31 December 2018 and 31 December 2017 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 2018, the difference between the pension plan surplus and the estimated future economic benefit, i.e., the asset ceiling effect, was USD 3,274 million (31 December 2017: USD 3,237 million). Changes to the Swiss pension plan As a result of the effects of continuing low and in some cases negative interest rat es, diminished investment return expectations and i ncreasing life expectancy, the pension f und of UBS in Switzerland and UBS agreed to measures that have taken effect from the start of 2019 to support the long-term financial stability of the Swiss pension fund. As a result, the conversion rate was lowered, the regular retirement age was increased to 65, employee contributions were increased to vary between 2.5% and 13.5% of the contributory base salary, and savings contributions start from age 20 instead of the previous starting age of 25 . Pensions already in payment on 1 January 2019 were not affected by these measures. To mitigate the effects of the reduction of the conversion rate on future pensions, UBS will make a payment to employees’ retirement assets in the Swiss pension fund of up to USD 734 million in three installments in 2020, 2021 and 2022. In accordance with IFRS, these measures led to a reduction in the pension obligation recognized by UBS, resulting in a pre-tax gain of USD 241 million in 20 18 . In addition, 2018 service costs were lower by USD 59 million due to the decrease in benefits. The se effects w ere recognized as a reduction in Personnel expenses within the income statement across the business divisions and Corporate Center, with a corr esponding effect in Other comprehensive income , as the Swiss pension plan was in a surplus situation that could not be recognized due to the IFRS asset ceiling re striction . If the Swiss pension plan remains in an asset ceiling position, the three annual pa yments , adjusted for expected forfeitures , are expected to reduce total equity by approximately USD 210 million per year over the installment period, with no effect on the income statement. The employer contributions expected to be made to the Swiss pensio n plan in 201 9 are estimated to be USD 454 million . Non-Swiss pension plans UBS locations outside of Switzerland established various defined benefit pension plans in accordance with local regulations and practices. The non-Swiss locations with major defined benefit pension plans are the UK, the US and Germany. Defined benefit pension plans in other locations are not material to the financial results of UBS and hence not separately disclosed. The non-Swiss plans provide benefits in the event of retire ment, death or disability. The level of benefits provided depends on the specific rate of benefit accrual and the level of employee compensation. UBS’s general principle is to ensure that the plans are adequately funded on the basis of actuarial valuations . Local pension regulations and tax requirements are the primary drivers for determining when contributions are required. UK pension plan The UK plan is a career-average revalued earnings scheme, and benefits increase automatically based on UK price inflat ion. The n ormal retirement age for participants in the UK plan is 60 . Since 2000, the UK plan has been closed to new entrants and, since 2013, pension plan participants are no longer accruing benefits for current or future service. Employe es instead partic ipate in the UK defined contribution plan. The governance responsibility for the UK plan lies jointly with the Pension Trustee Board, which is required under local pension laws, and UBS. The employer contributions to the pension fund reflect agreed-upon de ficit funding contributions, which are determined on the basis of the most recent actuarial valuation using assumptions agreed by the Pension Trustee Board and UBS. In the event of underfunding, UBS and the Pension Trustee Board must agree on a deficit rec overy plan within statutory deadlines. In 2018 and 2017, UBS did not make any deficit funding contributions. The plan assets are invested in a diversified portfolio of financial assets. A liability-driven investment approach is applied, as a portion of the plan assets is invested in inflation-indexed bonds that provide a partial hedge against price inflation. If price inflation increases, the DBO is likely to increase by more than the change in the fair value of plan assets, which would result in an increase in the net defined benefit liability. Plan rules and local pension legislation cap the level of inflationary increase that can be applied to plan benefits. As the plan is obligated to provide guaranteed lifetime pension benefits to plan participants upon retirement, increases in life expectancy will result in an increase in the plan’s liabilities. The sensitivity to changes in life expectancy i s particularly high in the UK plan as the pension benefits are indexed to price inflation. As of 31 December 2018, the UK plan was in a deficit situation on an IFRS measurement basis as the DBO exceeded the fair value of plan assets by USD 160 million (31 December 2017: deficit of USD 275 million). Following the most recent triennial statutory actuarial valuation as of 30 June 2017, UBS agreed to minimum cash contributions of USD 26 million in 2019 and USD 13 million in 2020. Total contributions expected t o be made to the UK defined benefit pension plan in 2019 are estimated at USD 128 million, subject to regular funding reviews during the year. In addition, UBS and the Pension Trustee Board have entered into an arrangement whereby a collateral pool w as est ablished to provide security for the pension fund, effective 31 January 2019, at a value of USD 574 million. The collateral pool include s corporate bonds and government-related debt instruments . The Pension Trustee Board and UBS may agree adjustments to th e collateral pool value in the future. The arrangement provides the Pension Trustee Board dedicated access to a pool of assets in the event of UBS’s insolvency or not paying a required deficit funding contribution. Following a UK High C ourt ruling requirin g pension trustees to equalize benefits for men and women in relation to guaranteed minimum pensio ns (GMP) , UBS recorded an increase of USD 4 million in the DBO, resulting in a corresponding loss recognized in the income statement in 2018. US pension plans There are two distinct major defined benefit pension plans in the US, both with a normal retirement age of 65. Since 1998 and 2001, respectively, t he plans have been closed to new entrants, who instead can participate in defined contribution plans. One of the major defined benefit pension plans is a contribution-based plan in which each participant accrues a percentage of salary in a pension account. The pension account is credited annually with interest based on a rate that is linked to the average yield on one-year US government bonds . For the other major defined benefit pension plan, retirement benefits accrue based on the career-average earnings of each individual plan participant. Former employees with vested benefits have the option to take a lump sum payment or a lifetime annuity commencing early or at retirement age. As required under local state pension laws, both plans have fiduciaries who, together with UBS, are responsible for the governance of the plans. UBS regularly reviews the contribution s trategy for these plans , considering local statutory funding rules and the cost of any premiums that must be paid to the Pension Benefit Guaranty Corporation for having an underfunded plan. In 201 8 , the contributions made by UBS were USD 42 million ( 201 7: USD 92 million). The plan assets for both plans are invested in a diversified portfolio of financial assets. Each pension plan’s fiduciaries are responsible for the investment decisions with respect to the plan assets. Both US plans apply a liability-driv en investment approach to support the volatility management in the net asset / liability position. Derivative instruments may also be employed to manage volatility. The employer contributions expected to be made to the US defined benefit pension plans in 2 019 are estimated at USD 9 million . German pension plans There are two different defined benefit pension plans in Germany, and both are contribution-based plans. No plan assets are set aside to fund these plans, and benefits are paid directly by UBS. The n ormal retirement age for the participants in the German plans is 65. Within the larger of the two plans, each participant accrues a percentage of salary in a pension account. The accumulated account balance of the plan participant is credited on an annual basis with guaranteed interest at a rate of 5%. In the other plan, amounts are accrued annually based on employee elections. For this plan, the accumulated account balance is credited on an annual basis with a guaranteed interest rate of 6% for amounts acc rued before 2010, of 4% for amounts accrued from 2010 to 2017 and of 0.9% for amounts accrued after 2017. Both plans are regulated under German pension law, unde r which the responsibility to pay pension benefits when they are due rests entirely with UBS. F or these plans, a portion of the pension payments is directly increased in line with price inflation. The benefits expected to be paid by UBS to the participants of the German plans in 2019 are estimated at USD 11 million. Financial information by plan The tables on the following pages provide an analysis of the movement in the net asset / liability recognized on the balance sheet for defined benefit pension plans, as well as an analysis of amounts recognized in net profit and in Other comprehensive incom e. Defined benefit pension plans USD million Swiss plan UK plan US and German plans Total 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit obligation at the beginning of the year 23,419 22,465 3,744 3,639 1,816 1,725 28,978 27,830 Current service cost 405 456 0 0 7 9 413 465 Interest expense 151 166 93 102 55 63 299 331 Plan participant contributions 218 208 0 0 0 0 218 208 Remeasurements (242) 301 (266) (88) (69) 82 (577) 295 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 6 (18) (82) (5) (5) (23) (81) of which: actuarial (gains) / losses due to changes in financial assumptions (639) 141 (257) 44 (69) 86 (964) 271 of which: experience (gains) / losses 1 397 154 8 (50) 5 2 410 105 Past service cost related to plan amendments (241) 0 4 0 0 0 (237) 0 Curtailments (20) (50) 0 0 0 0 (20) (50) Benefit payments (954) (1,121) (202) (256) (112) (109) (1,268) (1,487) Other movements 0 (8) 0 0 0 0 0 (8) Foreign currency translation (170) 1,001 (181) 347 (18) 47 (369) 1,395 Defined benefit obligation at the end of the year 22,566 23,419 3,192 3,744 1,679 1,816 27,437 28,978 of which: amounts owed to active members 10,452 10,741 146 180 226 255 10,823 11,176 of which: amounts owed to deferred members 0 0 1,434 1,930 606 645 2,040 2,575 of which: amounts owed to retirees 12,114 12,678 1,612 1,634 847 916 14,574 15,228 Fair value of plan assets at the beginning of the year 26,656 24,184 3,469 3,120 1,265 1,124 31,390 28,428 Return on plan assets excluding amounts included in interest income (523) 1,640 (136) 215 (77) 110 (736) 1,965 Interest income 177 181 86 88 44 44 306 313 Employer contributions 505 485 0 0 51 100 556 585 Plan participant contributions 218 208 0 0 0 0 218 208 Benefit payments (954) (1,121) (202) (256) (112) (109) (1,268) (1,487) Administration expenses, taxes and premiums paid (11) (10) 0 0 (3) (4) (14) (15) Foreign currency translation (228) 1,090 (185) 302 0 0 (412) 1,392 Fair value of plan assets at the end of the year 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Asset ceiling effect at the beginning of the year 3,237 1,718 0 0 0 0 3,237 1,718 Interest expense on asset ceiling effect 23 13 0 0 0 0 23 13 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 71 1,417 0 0 0 0 71 1,417 Foreign currency translation (58) 89 0 0 0 0 (58) 89 Asset ceiling effect at the end of the year 3,274 3,237 0 0 0 0 3,274 3,237 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (275) (519) (550) (601) (825) (1,120) Net periodic expenses recognized in net profit (153) (414) (11) (15) (22) (31) (186) (460) Gains / (losses) recognized in other comprehensive income (352) (79) 130 304 (8) 28 (230) 253 Employer contributions 505 485 0 0 51 100 556 585 Other movements 0 8 0 0 0 0 0 8 Foreign currency translation 0 0 (4) (45) 18 (47) 14 (91) Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (160) (275) (511) (550) (671) (825) Funded and unfunded plans Defined benefit obligation from funded plans 22,566 23,419 3,192 3,744 1,219 1,324 26,976 28,487 Defined benefit obligation from unfunded plans 0 0 0 0 460 492 460 492 Plan assets 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Surplus / (deficit) 3,274 3,237 (160) (275) (511) (550) 2,603 2,412 Asset ceiling effect 3,274 3,237 0 0 0 0 3,274 3,237 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Current service cost 405 456 0 0 7 9 413 465 Interest expense related to defined benefit obligation 151 166 93 102 55 63 299 331 Interest income related to plan assets (177) (181) (86) (88) (44) (44) (306) (313) Interest expense on asset ceiling effect 23 13 0 0 0 0 23 13 Administration expenses, taxes and premiums paid 11 10 0 0 3 4 14 15 Past service cost related to plan amendments (241) 0 4 0 0 0 (237) 0 Curtailments (20) (50) 0 0 0 0 (20) (50) Net periodic expenses recognized in net profit 153 414 11 15 22 31 186 460 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Remeasurement of defined benefit obligation 242 (301) 266 88 69 (82) 577 (295) Return on plan assets excluding amounts included in interest income (523) 1,640 (136) 215 (77) 110 (736) 1,965 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (71) (1,417) 0 0 0 0 (71) (1,417) Total gains / (losses) recognized in other comprehensive income, before tax (352) (79) 130 304 (8) 28 (230) 253 The table below provides information on the duration of the DBO and the timing f or expected benefit payments. Swiss plan UK plan US and German plans 1 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Duration of the defined benefit obligation (in years) 14.5 15.1 19.5 20.0 9.8 10.6 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 1,153 1,149 82 83 108 108 Benefits expected to be paid between 1 and 3 years 2,356 2,294 187 182 216 217 Benefits expected to be paid between 3 and 6 years 3,554 3,455 345 337 336 330 Benefits expected to be paid between 6 and 11 years 5,643 5,564 701 717 566 572 Benefits expected to be paid between 11 and 16 years 5,142 5,109 770 806 494 514 Benefits expected to be paid in more than 16 years 16,792 17,190 3,927 4,325 798 887 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. Actuarial assumptions The measurement of each pension plan’s DBO considers different actuarial assumptions. Changes in those assumptions lead to volatility in the DBO. The following significant actuari al assumptions are applied: Discount rate: the discount rate is based on the yield of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan. Consequently, a decrease in the yield of high-quality corporate bo nds increases the DBO. Conversely, an increase in the yield of high-quality corporate bonds decreases the DBO. Rate of salary increase: an increase in the salary of plan participants generally increases the DBO, specifically for the Swiss and German plans. For the UK plan, as the plan is closed for future service, UBS employees no longer accrue future service benefits and thus salary increases have no effect on the DBO. For the US plans, only a small percentage of the total population continues to accrue be nefits for future service and therefore the effect of a salary increase on the DBO is minimal. Rate of pension increase: for the Swiss plan, there is no automatic indexing of pensions. Any increase would be decided by the Pension Foundation Board. For the US plans, there is also no automatic indexing of pensions. For the UK plan, pensions are automatically indexed to price inflation as per plan rules and local pension legislation. The German plans are also automatically indexed and a portion of the pensions are directly increased by price inflation. An increase in price inflation in the UK or Germany increases the respective plan’s DBO. Rate of interest credit on retirement savings: the Swiss plan and one of the US plans have retirement saving balances that are increased annually by an interest credit rate. For each of these plans, an increase in the interest credit rate increases the pla n’s DBO. Life expectancy: most of UBS’s defined benefit pension plans are obligated to provide guaranteed lifetime pension benefits. The DBO for all plans is calculated using an underlying best estimate of the life expectancy of plan participants. An incre ase in the life expectancy of plan participants increases the plan’s DBO. The actuarial assumptions used for the pension plans are based on the economic conditions prevailing in the jurisdiction in which they are offered. Refer to Note 1 a item 7 for a description of the accounting policy for defined benefit pension plans Changes in actuarial assumptions UBS regularly reviews the actuarial assumptions used in calculating its DBO to determine their continuing relevance. Swiss pension plan In 2018, a net gain of USD 242 million was recognized in Other comprehensive income (OCI) related to the remeasurement of the DBO . This was primarily due to a market-driven increase in the discount rate, which resulted in an OCI gain of USD 776 million. Th is effect was partially offset by experience losses of USD 397 million, reflecting differences between the previous actuarial assumptions and what actually occurred, and market-driven changes to the assumed rate of interest credit on retirement savings, wh ich resulted in a loss of USD 124 million. Changes in other assumptions were not significant. In 2017, a net loss of USD 301 million was recognized in OCI related to the remeasurement of the DBO. This was primarily due to a market-driven decrease in the d iscount rate, which resulted in an OCI loss of USD 165 million, as well as experience losses of USD 154 million . These effects were partially offset by market-driven changes to the assumed rate of interest credit on retirement savings, which resulted in a gain of USD 26 million. Changes in other assumptions were not significant. UK pension plan In 2018, a net gain of USD 266 million was recognized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily due to a market-driven incr ease in the discount rate, which resulted in an OCI gain of USD 219 million, as well as changes in the pension increase assumption, which resulted in an OCI gain of USD 37 million. In 2017, a net gain of USD 88 million was recognized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily driven by changes in the life expectancy assumption, which resulted in a gain of USD 8 2 million. In addition, market-driven changes in the inflation rate assumption resulted in a gain of USD 60 m illion and experience gains were USD 50 million. These gains were partly offset by a market-driven decrease in the discount rate, which resulted in a loss of USD 102 million. US and German pension plans In 2018, a net gain of USD 69 million was recognized in OCI related to the remeasurement of the DBO for the US and German plans , compared with a net loss of USD 82 million in 2017. OCI gains and losses in both years were primarily driven by market-driven movements in discount rates. The tables below show the significant actuarial assumptions used in calculating the DBO at the end of the year . Significant actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate 0.92 0.67 2.90 2.55 3.69 3.14 Rate of salary increase 1.50 1.30 0.00 0.00 2.81 2.83 Rate of pension increase 0.00 0.00 3.10 3.11 1.50 1.50 Rate of interest credit on retirement savings 0.92 0.67 0.00 0.00 3.70 2.56 1 Represents weighted average assumptions across US and German plans. Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.18 31.12.17 31.12.18 31.12.17 Switzerland BVG 2015 G wi |
UBS AG | |
Disclosure Pension And Other Postemployment Benefit Plans [Line Items] | |
Pension and other post-employment benefit plans [text block] | Note 29 Pension and other post-employment benefit plans The table below provides a breakdown of expenses related to pension and other post-employment benefit plans recognized in the income statement within Personnel expenses . Income statement – expenses related to pension and other post-employment benefit plans USD million 31.12.18 31.12.17 31.12.16 Net periodic expenses for defined benefit plans 140 365 438 of which: related to major pension plans 1 141 354 417 of which: Swiss plan 2 108 307 386 of which: UK plan 11 15 (2) of which: US and German plans 22 31 34 of which: related to post-employment medical insurance plans 3 (11) 3 4 of which: UK plan 1 1 1 of which: US plans (12) 2 3 of which: related to remaining plans and other expenses 4 10 8 17 Expenses for defined contribution plans 5 223 236 238 of which: UK plans 35 65 78 of which: US plan 127 110 107 of which: remaining plans 61 61 53 Total pension and other post-employment benefit plan expenses 6 363 601 677 1 Refer to Note 29a for more information. 2 Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 132 million related to past service. Refer to Note 29a for more information on these changes. 3 Refer to Note 29b for more information. 4 Other expenses include differences between actual and estimated performance award accruals. 5 Refer to Note 29c for more information. 6 Refer to Note 6. The table below provides a breakdown of amounts recognized in Other comprehensive income fo r defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.18 31.12.17 31.12.16 Major pension plans 1 (79) 276 (842) of which: Swiss plan (201) (56) (94) of which: UK plan 130 304 (623) of which: US and German plans (8) 28 (126) Post-employment medical insurance plans 2 7 1 (13) of which: UK plan 3 1 (5) of which: US plans 4 0 (7) Remaining plans 3 31 (26) Gains / (losses) recognized in other comprehensive income, before tax (70) 308 (880) Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 245 6 51 Gains / (losses) recognized in other comprehensive income, net of tax 3 175 314 (829) 1 Refer to Note 29a for more information. 2 Refer to Note 29b for more information. 3 Refer to the “Statement of comprehensive income.” UBS AG recognizes assets and liabilities with respect to defined benefit plans within Other non-financial assets and Other non-financial liabilities . As of 31 December 2018 and 31 December 2017, the Swiss pension plan was in a surplus situation. However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit. Since the estimated futu re economic benefit was zero as of 31 December 2018 and 31 December 2017, no net defined benefit pension asset was recognized on the balance sheet. The table below provide s a breakdown of liabilities recognized on the balanc e sheet within Other non-financial liabilities related to defined benefit plans. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.18 31.12.17 Major pension plans 1 671 825 of which: Swiss plan 0 0 of which: UK plan 160 275 of which: US and German plans 2 511 550 Post-employment medical insurance plans 3 62 88 of which: UK plan 22 27 of which: US plans 40 61 Remaining plans 40 35 Total net defined benefit pension and post-employment liability 4 773 948 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). 3 Refer to Note 29b for more information. 4 Refer to Note 22. a) Defined benefit pension plans UBS AG has established defined benefit pension plans for its employees in various jurisdictions, with the major plans located in Switzerland, the UK, the US and Germany. The overall investment policy and strategy for UBS AG’s defined benefit pension plans is guided by the objective of achieving an investment return that, together with contributions, ensures that there will be sufficient assets to pay pension benefits as they f all due while also mitigating various risks. For the plans with assets, i.e. funded plans, the investment strategies are managed under local laws and regulations in each jurisdiction. The asset allocation is determined by the governance body with reference to the current and expected economic and market conditions and in consideration of specific asset class risk in the risk profile. Within this framework, UBS AG ensures that the fiduciaries consider how the asset investment strategy correlates with the mat urity profile of the plan liabilities and the respective potential effect on the funded status of the plans, including potential short-term liquidity requirements. The defined benefit obligations (DBOs) for all of UBS AG’s defined benefit pension plans are directly affected by changes in yields of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan, as the applicable discount rate used to determine the DBO is based on these yields. For the funded plans, the pension assets are invested in a diversified portfolio of financial assets, including real estate, bonds, investment funds and cash, across geographic regions, to ensure a balance of risk and return. Under IFRS, volatility arises in each pension plan’s ne t asset / liability position because the fair value of the plan’s financial assets is not fully correlated to movements in the value of the plan’s DBO. Specific asset-liability matching strategies for each pension plan are independently determined by the responsible governance body. The net asset / liability volatility for each plan is dependent on the specific financial assets chosen by each plan’s governance bo dy. For certain pension plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce potential volatility. Swiss pension plan The Swiss pension plan covers employees of UBS AG and employees of companies having close economic or financial ties with UBS AG, and exceeds the minimum benefit requirements under Swiss pension law. In 2017, a significant number of employees transferred from UBS AG to UBS Business Solutions AG, which is a directly held subsidiary of UBS Group AG. There continues to be one pooled pension plan in Switzerland covering the employees of UBS AG and tho se transferred to UBS Business Solutions AG. UBS AG and UBS Business Solutions AG both are legal sponsors of UBS’s Swiss pension plan. Since the date of the employee transfer, UBS AG and UBS Business Solutions AG apply proportionate defined benefit account ing, i.e., the net pension cost, any OCI impacts from remeasurements and the net pension asset / liability of the Swiss pension plan are allocated proportionally between UBS AG and UBS Business Solutions AG based on the aggregated net pension cost and defi ned benefit obligations related to their employees. Contributions to the pension plan are paid by both the employe r and the employe es . The Swiss pension plan allows emp l oyees to choose the level of contributions paid by them. Employee contributions are cal culated as a percentage of the contributory salary and are deducted month l y. The percentages deducted from salary depend on age and choice of contribution category and v ary between 1% and 13.5% of contributory base sala ry and between 0% and 9% of contribut ory variable compensation. Depending on the age of the employee, UBS AG pays a contribution that ran ges between 6.5% and 27.5% of contributory base salar y and between 3.6% and 9% of contributory variable compensation. U BS AG also pays risk contributions th at are used to finance benefits paid out in the event of death and disability, as well as to finance bridging pensions. The plan benefits include retirement , disability and survivor benefits . The pension plan offers to members at the normal retirement age of 64 a choice between a lifetime pension with or without full restitution and a partial or full lump sum payment. Members can draw early retirement benefits starting from the age of 58. E mployees have the opportunity to make addition al purchases of benefits to fund early retirement benefits (Plan 58+) . The pension amount payable is a result of the conversion rate applied on the accumulated balance of the individual plan participant’s pension account at the retirement date. The accumul ated balance of each individual plan participant’s pension account is based on credited vested benefits transferred from previous employers, purchases of benefits, and the employee and employer contributions that have been made to the pension account of ea ch indi v i d ual plan participant, as well as the interest accrued on the accumulated balance. The interest rate accrued is defined annually by the Pension Foundation Board. Although the Swiss pension plan is based on a defined contribution promise under Swiss pension law, it is accounted for as a defined benefit plan under IFRS, primarily because of the obligation to accrue interest on the pension accounts and the payment of lifetime pension benefits. The Swiss pension plan is governed by a Pension Found ation Board. The responsibilities of this board are defined by Swiss pension law and by the plan rules. An actuarial valuation under Swiss pension law is performed regularly. According to Swiss pension law, a temporary limited underfunding is permitted. Ho wever, should an underfunded situation occur, the Pension Foundation Board is required to take the necessary measures to ensure that full funding can be expected to be restored within a maximum period of 10 years. If a Swiss pension plan were to become sig nificantly underfunded on a Swiss pension law basis, additional employer and employee contributions could be required. In th is situation, the risk is shared between employer and employees, and the employer is not legally obliged to cover more than 50% of t he additional contributions required. As of 31 December 201 8 , the Swiss pension plan had a technical funding ratio under Swiss pension law of 124.2 % (31 December 201 7 : 131.9 %). The investment strategy of the Swiss plan is implemented on the basis of a multi-level investment and risk management process and complies with Swiss pension law, including the rules and regulations re lating to diversification of plan assets. These rules, among others, specify restrictions on the composition of plan assets; e.g., there is a limit of 50% for investments in equities. The investment strategy of the Swiss plan is aligned with the defined ri sk budget set out by the Pension Foundation Board. The risk budget is determined on the basis of regularly performed asset and liability management analyses. In order to implement the risk budget, the Swiss plan may use direct investments, investment funds and derivatives. To mitigate foreign currency risk, a specific currency hedging strategy is in place. The Pension Foundation Board strives for a medium- and long-term balance between assets and liabilities. As of 31 December 2018, the Swiss pension plan was in a surplus situation on an IFRS measurement basis, as the fair value of plan assets exceeded the DBO by USD 1,998 million (31 December 2017 : surplus of USD 1,990 million). However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit, which equals the difference between the present value of the estimated future net service cost and the present value of the estimated future employer contributions. The maximum future economic benef it is highly variable based on changes in the discount rate. As of both 31 December 2018 and 31 December 2017 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 2018 , the difference between the pension plan surplus and the estimated future economic benefit, i.e., the asset ceiling effect, was USD 1,998 million (31 December 2017: USD 1,990 million). Changes to the Swiss pension plan As a result of the effects of conti nuing low and in some cases negative interest rates, diminished investment return expectations and i ncreasing life expectancy, the pension f und of UBS AG in Switzerland and UBS AG agreed to measures that have taken effect from the start of 2019 to support the long-term financial stability of the Swiss pension fund. As a result, the conversion rate was lowered, the regular retirement age was increased to 65, employee contributions were increased to vary between 2.5% and 13.5% of the contributory base salary, and savings contributions start from age 20 instead of the previous starting age of 25. Pensions already in payment on 1 January 2019 were not affected by these measures. To mitigate the effects of the reduction of the conversion rate on future pensions, UBS AG will make a payment to employees’ retirement assets in the Swiss pension fund of up to USD 448 million in three installments in 2020, 2021 and 2022. In accordance with IFRS, these measures led to a reduction in the pension obligation recognized by UBS AG, resulting in a pre-tax gain of USD 132 million in 2018 . In addition, 2018 service costs were lower by USD 34 million due to the decrease in benefits. The se effects w ere recognized as a reduction in Personnel expenses within the income statement acr oss the business divisions and Corporate Center, with a corresponding effect in Other comprehensive income , as the Swiss pension plan was in a surplus situation that could not be recognized due to the IFRS asset ceiling re striction . If the Swiss pension pl an remains in an asset ceiling position, the three annual payments , adjusted for expected forfeitures , are expected to reduce total equity by approximately USD 130 million per year over the installment period, with no effect on the income statement. The em ployer contributions expected to be made to the Swiss pension plan in 201 9 are estimated to be USD 275 million . Non-Swiss pension plans UBS AG locations outside of Switzerland established various defined benefit pension plans in accordance with local regu lations and practices. The non-Swiss locations with major defined benefit pension plans are the UK, the US and Germany. Defined benefit pension plans in other locations are not material to the financial results of UBS AG and hence not separately disclosed. The non-Swiss plans provide benefits in the event of retirement, death or disability. The level of benefits provided depends on the specific rate of benefit accrual and the level of employee compensation. UBS AG ’s general principle is to ensure that the p lans are adequately funded on the basis of actuarial valuations. Local pension regulations and tax requirements are the primary drivers for determining when contributions are required. UK pension plan The UK plan is a career-average revalued earnings schem e, and benefits increase automatically based on UK price inflation. The n ormal retirement age for participants in the UK plan is 60 . Since 2000, the UK plan has been closed to new entrants and, since 2013, pension plan participants are no longer accruing benefits for current or future service. Employe es instead participate in the UK defined contribution plan. The governance responsibility for the UK plan lies jointly with the Pension Trustee Board, which is required under local pension laws, and UBS AG . The employer contributions to the pension fund reflect agreed-upon deficit funding contributions, which are determined on the basis of the most recent actuarial valuation using assumptions agreed by the Pension Trustee Board and UBS AG . In the event of und erfunding, UBS AG and the Pension Trustee Board must agree on a deficit recovery plan within statutory deadlines. In 2018 and 2017, UBS AG did not make any deficit funding contributions. The plan assets are invested in a diversified portfolio of financial assets. A liability-driven investment approach is applied, as a portion of the plan assets is invested in inflation-indexed bonds that provide a partial hedge against price inflation. If price inflation increases, the DBO is likely to increase by more than the change in the fair value of plan assets, which would result in an increase in the net defined benefit liability. Plan rules and l ocal pension legislation cap the level of inflationary increase that can be applied to plan benefits. As the plan is obligated to provide guaranteed lifetime pension benefits to plan participants upon retirement, increases in life expectancy will result in an increase in the plan’s liabilities. The sensitivity to changes in life expectancy is particularly high in the UK plan as the pension benefits are indexed to price inflation. As of 31 December 2018, the UK plan was in a deficit situation on an IFRS meas urement basis as the DBO exceeded the fair value of plan assets by USD 160 million (31 December 2017: deficit of USD 275 million). Following the most recent triennial statutory actuarial valuation as of 30 June 2017, UBS AG agreed to minimum cash contributions of USD 26 million in 2019 and USD 13 million in 2020. Total contributions expected to be made to the UK defined benefit pension plan in 2019 are estimated at USD 128 million, subject to regular funding reviews during the year. In additi on, UBS AG and the Pension Trustee Board have entered into an arrangement whereby a collateral pool w as established to provide security for the pension fund, effective 31 January 2019, at a value of USD 574 million. The collateral pool include s corporate b onds and government-related debt instruments . The Pension Trustee Board and UBS AG may agree adjustments to the collateral pool value in the future. The arrangement provides the Pension Trustee Board dedicated access to a pool of assets in the event of UBS AG insolvency or not paying a required deficit funding contribution. Following a UK High C ourt ruling requiring pension trustees to equalize benefits for men and women in relation to g uaranteed minimum pensions (GMP) , UBS AG recorded an increase of USD 4 million in the DBO, resulting in a corresponding loss recognized in the income statement in 2018. US pension plans There are two distinct major defined benefit pension plans in the US, both with a normal retirement age of 65. Since 1998 and 2001, respectiv ely, t he plans have been closed to new entrants, who instead can participate in defined contribution plans. One of the major defined benefit pension plans is a contribution-based plan in which each participant accrues a percentage of salary in a pension ac count. The pension account is credited annually with interest based on a rate that is linked to the average yield on one-year US government bonds . For the other major defined benefit pension plan, retirement benefits accrue based on the career-average earn ings of each individual plan participant. Former employees with vested benefits have the option to take a lump sum payment or a lifetime annuity commencing early or at retirement age. As required under local state pension laws, both plans have fiduciaries who, together with UBS AG, are responsible for the governance of the plans. UBS AG regularly reviews the contribution strategy for these plans , considering local statutory funding rules and the cost of any premiums that must be paid to the Pension Benefit Guaranty Corporation for having an underfunded plan. In 201 8 , the contributions made by UBS AG were USD 42 million ( 201 7: USD 92 million). The plan assets for both plans are invested in a diversified portfolio of financial assets. Each pension plan’s fiduciaries are responsible for the investment decisions with respect to the plan assets. Both US plans apply a liability-driven investment approach to support the volatility management in the net asset / liability position. Derivative instruments may also be employed to manage volatility. The employer contributions expected to be made to the US defined benefit pension plans in 2019 are estimated at USD 9 million . German pension plans There are two different defined benefit pension plans in Germany, and bot h are contribution-based plans. No plan assets are set aside to fund these plans, and benefits are paid directly by UBS AG . The n ormal retirement age for the participants in the German plans is 65. Within the larger of the two plans, each participant accru es a percentage of salary in a pension account. The accumulated account balance of the plan participant is credited on an annual basis with guaranteed interest at a rate of 5%. In the other plan, amounts are accrued annually based on employee elections. Fo r this plan, the accumulated account balance is credited on an annual basis with a guaranteed interest rate of 6% for amounts accrued before 2010, of 4% for amounts accrued from 2010 to 2017 and of 0.9% for amounts accrued after 2017. Both plans are regula ted under German pension law, unde r which the responsibility to pay pension benefits when they are due rests entirely with UBS AG . For these plans, a portion of the pension payments is directly increased in line with price inflation. The benefits expected to be paid by UBS AG to the participants of the German plans in 2019 are estimated at USD 11 million. Financial information by plan The tables on the following pages provide an analysis of the movement in the net asset / liability recognized on the balance sheet for defined benefit pension plans, as well as an analysis of amounts recognized in net profit and in Other comprehensive incom e. Defined benefit pension plans USD million Swiss plan UK plan US and German plans Total 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit obligation at the beginning of the year 14,398 22,465 3,744 3,639 1,816 1,725 19,957 27,830 Current service cost 251 330 0 0 7 9 258 338 Interest expense 93 119 93 102 55 63 241 284 Plan participant contributions 137 157 0 0 0 0 137 157 Remeasurements (263) 47 (266) (88) (69) 82 (598) 40 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 4 (18) (82) (5) (5) (23) (84) of which: actuarial (gains) / losses due to changes in financial assumptions (391) 135 (257) 44 (69) 86 (716) 265 of which: experience (gains) / losses 1 128 (92) 8 (50) 5 2 142 (140) Past service cost related to plan amendments (132) 0 4 0 0 0 (128) 0 Curtailments (17) (28) 0 0 0 0 (17) (28) Benefit payments (586) (782) (202) (256) (112) (109) (900) (1,147) Other movements 2 0 (8,728) 0 0 0 0 0 (8,728) Foreign currency translation (108) 818 (181) 347 (18) 47 (307) 1,211 Defined benefit obligation at the end of the year 13,774 14,398 3,192 3,744 1,679 1,816 18,645 19,957 of which: amounts owed to active members 6,380 6,604 146 180 226 255 6,751 7,038 of which: amounts owed to deferred members 0 0 1,434 1,930 606 645 2,040 2,575 of which: amounts owed to retirees 7,394 7,794 1,612 1,634 847 916 9,854 10,344 Fair value of plan assets at the beginning of the year 16,388 24,184 3,469 3,120 1,265 1,124 21,122 28,428 Return on plan assets excluding amounts included in interest income (434) 1,003 (136) 215 (77) 110 (647) 1,329 Interest income 109 130 86 88 44 44 238 262 Employer contributions 308 356 0 0 51 100 360 456 Plan participant contributions 137 157 0 0 0 0 137 157 Benefit payments (586) (782) (202) (256) (112) (109) (900) (1,147) Administration expenses, taxes and premiums paid (7) (7) 0 0 (3) (4) (10) (12) Other movements 2 0 (9,541) 0 0 0 0 0 (9,541) Foreign currency translation (144) 889 (185) 302 0 0 (328) 1,191 Fair value of plan assets at the end of the year 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Asset ceiling effect at the beginning of the year 1,990 1,718 0 0 0 0 1,990 1,718 Interest expense on asset ceiling effect 14 9 0 0 0 0 14 9 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 30 1,013 0 0 0 0 30 1,013 Other movements 2 0 (821) 0 0 0 0 0 (821) Foreign currency translation (36) 71 0 0 0 0 (36) 71 Asset ceiling effect at the end of the year 1,998 1,990 0 0 0 0 1,998 1,990 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (275) (519) (550) (601) (825) (1,120) Net periodic expenses recognized in net profit (108) (307) (11) (15) (22) (31) (141) (354) Gains / (losses) recognized in other comprehensive income (201) (56) 130 304 (8) 28 (79) 276 Employer contributions 308 356 0 0 51 100 360 456 Other movements 0 8 0 0 0 0 0 8 Foreign currency translation 0 0 (4) (45) 18 (47) 14 (91) Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (160) (275) (511) (550) (671) (825) Funded and unfunded plans Defined benefit obligation from funded plans 13,774 14,398 3,192 3,744 1,219 1,324 18,184 19,466 Defined benefit obligation from unfunded plans 0 0 0 0 460 492 460 492 Plan assets 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Surplus / (deficit) 1,998 1,990 (160) (275) (511) (550) 1,327 1,165 Asset ceiling effect 1,998 1,990 0 0 0 0 1,998 1,990 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Current service cost 251 330 0 0 7 9 258 338 Interest expense related to defined benefit obligation 93 119 93 102 55 63 241 284 Interest income related to plan assets (109) (130) (86) (88) (44) (44) (238) (262) Interest expense on asset ceiling effect 14 9 0 0 0 0 14 9 Administration expenses, taxes and premiums paid 7 7 0 0 3 4 10 12 Past service cost related to plan amendments (132) 0 4 0 0 0 (128) 0 Curtailments (17) (28) 0 0 0 0 (17) (28) Net periodic expenses recognized in net profit 108 307 11 15 22 31 141 354 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Remeasurement of defined benefit obligation 263 (47) 266 88 69 (82) 598 (40) Return on plan assets excluding amounts included in interest income (434) 1,003 (136) 215 (77) 110 (647) 1,329 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (30) (1,013) 0 0 0 0 (30) (1,013) Total gains / (losses) recognized in other comprehensive income, before tax (201) (56) 130 304 (8) 28 (79) 276 The table below provides information on the duration of the DBO and the timing for expected benefit payments. Swiss plan UK plan US and German plans 1 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Duration of the defined benefit obligation (in years) 14.5 15.1 19.5 20.0 9.8 10.6 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 704 707 82 83 108 108 Benefits expected to be paid between 1 and 3 years 1,439 1,425 187 182 216 217 Benefits expected to be paid between 3 and 6 years 2,170 2,139 345 337 336 330 Benefits expected to be paid between 6 and 11 years 3,446 3,412 701 717 566 572 Benefits expected to be paid between 11 and 16 years 3,140 3,170 770 806 494 514 Benefits expected to be paid in more than 16 years 10,253 10,723 3,927 4,325 798 887 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. Actuarial assumptions The measurement of each pension plan’s DBO considers different actuarial assumptions. Changes in those assumptions lead to volatility in the DBO. The following significant actuarial assumptions are applied: Discount rate: the discount rate is based on the yield of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan. Consequently, a decrease in the yield of high-quality corporate bonds increases the DBO. Conversely, an increase in the yield of high-quality c orporate bonds decreases the DBO. Rate of salary increase: an increase in the salary of plan participants generally increases the DBO, specifically for the Swiss and German plans. For the UK plan, as the plan is closed for future service, UBS AG employees no longer accrue future service benefits and thus salary increases have no effect on the DBO. For the US plans, only a small percentage of the total population continues to accrue benefits for future service and therefore the effect of a salary increase on the DBO is minimal. Rate of pension increase: for the Swiss plan, there is no automatic indexing of pensions. Any increase would be decided by the Pension Foundation Board. For the US plans, there is also no automatic indexing of pensions. For the UK plan , pensions are automatically indexed to price inflation as per plan rules and local pension legislation. The German plans are also automatically indexed and a portion of the pensions are directly increased by price inflation. An increase in price inflation in the UK or Germany increases the respective plan’s DBO. Rate of interest credit on retirement savings: the Swiss plan and one of the US plans have retirement saving balances that are increased annually by an interest credit rate. For each of these plans , an increase in the interest credit rate increases the plan’s DBO. Life expectancy: most of UBS AG ’s defined benefit pension plans are obligated to provide guaranteed lifetime pension benefits. The DBO for all plans is calculated using an underlying best estimate of the life expectancy of plan participants. An increase in the life expectancy of plan participants increases the plan’s DBO. The actuarial assumptions used for the pension plans are based on the economic conditions prevailing in the jurisdictio n in which they are offered. Refer to Note 1 a item 7 for a description of the accounting policy for defined benefit pension plans Changes in actuarial assumptions UBS AG regularly reviews the actuarial assumptions used in calculating its DBO to determine their continuing relevance. Swiss pension plan In 2018, a net gain of USD 2 63 million was recognized in Other comprehensive income (OCI) related to the remeasurement of the DBO . This was primarily due to a market-driven increase in the discount rate, which resulted in an OCI gain of USD 478 m illion. This effect was partl y offset by experience losses of USD 128 million, reflecting differences between the previous actuarial assumptions and what actually occurred, and market-driven changes to the assumed rate of interest credit on retirement savings, which resulted in a loss of USD 77 million. Changes in other assumptions were not significant. In 2017, a net loss of USD 47 m illion was recognized in OCI related to the remeasurement of the DBO. This was primarily due to a market-driven decrease in the discount rate, which resulted in an OCI loss of USD 159 million. Th is effect was partially offset by experience gains of USD 92 million and market-driven changes to the assumed rate of interest credit on retirement savings, which resulted in a gain of USD 25 million. Changes in other assumptions were not significant. UK pension plan In 2018, a net gain of USD 266 million was recog nized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily due to a market-driven increase in the discount rate, which resulted in an OCI gain of USD 219 million, as well as changes in the pension increase assumption, which re sulted in an OCI gain of USD 37 million. In 2017, a net gain of USD 88 million was recognized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily driven by changes in the life expectancy assumption, which resulted in a gain of USD 8 2 million. In addition, market-driven changes in the inflation rate assumption resulted in a gain of USD 60 million and experience gains were USD 50 million. These gains were partly offset by a market-driven de crease in the discount rate, which resulted in a loss of USD 102 million. US and German pension plans I |
Employee benefits_ variable com
Employee benefits: variable compensation | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Equity Participation And Other Compensation Plans [Line Items] | |
Employee benefits: variable compensation [text block] | Note 30 Employee benefits: variable compensation a) Plans offered The Group has several share-based and other compensation plans that align the interests of Group Executive Board (GEB) members and other employees with the interests of investors. These compensation plans are also designed to meet regulatory requirements. T he most significant compensation plans are described below . Refer to Note 1 a item 6 for a description of the accounting policy related to share-based and other deferred compensation plans Mandatory deferred compensation plans Equity Ownership Plan (EOP) The EOP is a mandatory deferred share-based compensation plan for all employees with total annual comp ensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2018 ) and before , the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Starting with the EOP awards granted in 2 019 for the performance year 2018, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET 1 ). Business division performance is measured on the basis of their average adjusted return on attributed equit y (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since Febr uary 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, s tarting with awards granted for the performance year 2017, European Banking Authority guidelines do n o t permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjust ed for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend - bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EO P awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Deferred Contingent Capital Plan (DCCP) The DCCP is a mandatory deferred compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. DCCP awards granted up to January 2015 represent a right to receive a cas h payment at vesting. For awards granted since February 2015, DCCP takes the form of notional additional tier 1 (AT1) capital instruments, which at the discretion of UBS can be settled in either a cash payment or a perpetual, marketable AT1 capital instrum ent. DCCP a wards vest in full after five years , and up to seven years for UK s enior m anagement f unctions , unless there is a trigger event. Awards are forfeited if a viability event occurs, that is, if FINMA notifies the firm in writing that the DCCP awards must be written down to prevent an insolvency, bankruptcy or failure of UBS, or if UBS receives a commitment of extraordinary support from the public sector that is necessary to prevent such an event. Additionally, they are written do wn if the Group’s common equity tier 1 capital ratio falls below 10% for GEB members and below 7% for all other employees. As an additional performance condition, GEB members forfeit 20% of their award for each loss-making year during the vesting period. F or awards granted up to January 2015, interest on the awards is paid annually, provided that UBS achieved an adjusted profit before tax in the preceding year. For awards granted since February 2015, interest payments are discretionary. Where interest payme nts are not permitted, such as for MRTs, the DCCP award reflect s the fair value of the granted non-interest- bearing award. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Asset Management EOP In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds t hey manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among ot her circumstances, voluntary termination of employment with UBS. F inancial advisor variable compensation In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised o f production payout and deferred compensation awards. Production payout is primarily based on compensable revenue and is paid monthly. Financial advisors may also qualify for deferred compensation awards, which generally vest over a six-year period . The a wards are based on strategic performance measures, including production, length of service with the firm and net new business. Production payout rates and deferred compensation awards may be reduced for, among other things, errors, negligence or carelessne ss, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. Strategic objective awards Strategic objective awards are deferred compensation awards based on strategic performance measures, includin g production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through performance year 2016, strategic object ive awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a c ertain percentage, which vested upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six t o 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. GrowthPlus GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. Other compensation plans Equity Plus Plan (Equity Plus) Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notio nal share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS , the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / o r cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable , a blocked UBS share award. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. Discontinued deferred compensation plans The following plans have been discontinued. Expenses related to these plans were fully recognized in the income statement in periods prior to 2018. Any remaining outstanding options and stock appreciation rights under these awards will expire during 2019. Senior Executive Equity Ownership Plan (SEEOP) Up to February 2012, GEB members and selected senior executives received a portion of their mandatory deferral in UBS shares or notional shares, which vested in equal installments over a five-year vesting period and were forfeitable if certain conditions had not been met . The employee’s business division or the Group as a whole had to be profitable in the financial year preceding scheduled vesting. Awards granted under SEEOP were settled by delivering UBS shares at vesting. No SEEOP awards have been granted since 2012. Se nior Executive Stock Option Plan (SESOP) Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire d 10 years from the grant date. No SESOP awards have been granted since 2008. Long-Term Deferred Retention Senior Incentive Scheme (LTDRSIS) Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. Key Employee Stock Appreciation Rights Plan (KESAP) and Key Employee Stock Option Plan (KESOP) Until 2009, certain key and hi gh-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a n umber of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled b y delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. Share delivery obligations Share delivery obligations related to employee share-based compensation award s were 146 million shares as of 31 December 201 8 ( 31 December 201 7: 166 million shares) . Share delivery obligations are calculated on the basis of unvested notional share awards, options and stock appreciation rights, taking applicable performance conditio ns into account. As of 31 December 201 8 , UBS held 118 million treasury shares (31 December 201 7 : 13 2 million) that were available to satisfy share delivery obligations. Treasury shares held are delivered to employees at exercise or vesting. However, share delivery obligations related to certain options and stock appreciation rights can also be satisfied by shares issued out of conditional capital. As of 31 December 2018 , the number of UBS Group AG shares that could have been issued out of conditional capita l for this purpose w as 125 million (31 December 2017 : 1 28 million). b) Effect on the income statement Effect on the income statement for the fi nancial year and future periods The table below provides information on compensation expenses related to total variable compensation, including financial advisor variable compensation, that were recognized in the financial year ended 31 December 2018 , as well as expenses that were deferred and will be recognized in the income statement for 2019 and later. The majority of expenses deferred to 201 9 and later that are related to the performance year 201 8 relates to awards granted in March 201 9 . The to tal compensation expense for unvested share-based awards granted up to 31 December 2018 will be recognized in future periods over a weighted average period of 2.3 years. Variable compensation including financial advisor variable compensation Expenses recognized in 2018 Expenses deferred to 2019 and later USD million Related to the performance year 2018 Related to prior performance years Total Related to the performance year 2018 Related to prior performance years Total Non-deferred cash 2,089 (32) 2,057 0 0 0 Deferred compensation awards 373 565 938 585 653 1,238 of which: Equity Ownership Plan 217 309 526 325 244 570 of which: Deferred Contingent Capital Plan 131 226 357 238 382 620 of which: Asset Management EOP 25 28 53 22 26 48 of which: Other performance awards 0 2 2 0 1 1 Total variable compensation – performance awards 2,461 534 2,995 585 653 1,238 Replacement payments 7 64 72 60 41 102 Forfeiture credits 0 (136) (136) 0 0 0 Severance payments 123 0 123 0 0 0 Retention plan and other payments 33 33 66 24 33 57 Deferred Contingent Capital Plan: interest expense 0 119 119 96 195 291 Total variable compensation – other 162 80 243 180 269 450 Financial advisor variable compensation 3,233 237 3,470 128 639 767 of which: non-deferred cash 3,089 0 3,089 0 0 0 of which: deferred share-based awards 51 44 95 52 131 183 of which: deferred cash-based awards 93 193 286 76 507 584 Compensation commitments with recruited financial advisors 1 33 551 584 357 1,883 2,240 Total financial advisor variable compensation 3,266 789 4,054 484 2,522 3,006 Total variable compensation including FA variable compensation 5,889 1,403 7,292 2 1,250 3,444 4,694 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 634 million in expenses related to share-based compensation (performance awards: USD 526 million; other variable compensation: USD 12 million; financial advisor compensation: USD 95 million). A further USD 49 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 8 million; Other personnel expenses: USD 26 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 676 million. Variable compensation including financial advisor variable compensation Expenses recognized in 2017 Expenses deferred to 2018 and later USD million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 2,088 (25) 2,062 0 0 0 Deferred compensation awards 399 689 1,088 594 697 1,291 of which: Equity Ownership Plan 239 344 583 329 291 620 of which: Deferred Contingent Capital Plan 135 310 444 238 376 614 of which: Asset Management EOP 25 32 57 27 27 54 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,487 664 3,151 594 697 1,291 Replacement payments 13 59 72 86 44 130 Forfeiture credits 0 (107) (107) 0 0 0 Severance payments 113 0 113 0 0 0 Retention plan and other payments 25 38 63 30 33 63 Deferred Contingent Capital Plan: interest expense 0 111 111 80 222 301 Total variable compensation – other 151 101 252 196 298 494 Financial advisor variable compensation 3,050 260 3,310 156 795 951 of which: non-deferred cash 2,891 0 2,891 0 0 0 of which: deferred share-based awards 54 48 102 70 121 191 of which: deferred cash-based awards 104 212 316 86 674 760 Compensation commitments with recruited financial advisors 1 31 723 754 369 2,058 2,428 Total financial advisor variable compensation 3,080 984 4,064 526 2,853 3,379 Total variable compensation including FA variable compensation 5,718 1,749 7,467 2 1,316 3,848 5,164 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 711 million in expenses related to share-based compensation (performance awards: USD 583 million; other variable compensation: USD 26 million; financial advisor compensation: USD 102 million). A further USD 101 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 51 million; Other personnel expenses: USD 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 735 million. Variable compensation including financial advisor variable compensation Expenses recognized in 2016 Expenses deferred to 2017 and later USD million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,842 (43) 1,799 0 0 0 Deferred compensation awards 379 835 1,215 677 841 1,518 of which: Equity Ownership Plan 217 491 708 511 349 861 of which: Deferred Contingent Capital Plan 136 299 435 132 460 593 of which: Asset Management EOP 26 39 66 34 26 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,221 792 3,013 677 841 1,518 Replacement payments 25 62 87 40 30 70 Forfeiture credits 0 (74) (74) 0 0 0 Severance payments 220 0 220 0 0 0 Retention plan and other payments 26 50 76 23 26 50 Deferred Contingent Capital Plan: interest expense 0 115 115 96 239 335 Total variable compensation – other 272 153 425 159 296 455 Financial advisor variable compensation 2,682 250 2,931 194 877 1,071 of which: non-deferred cash 2,534 0 2,534 0 0 0 of which: deferred share-based awards 34 49 82 57 117 174 of which: deferred cash-based awards 114 201 315 137 760 897 Compensation commitments with recruited financial advisors 1 43 765 808 596 2,084 2,679 Total financial advisor variable compensation 2,725 1,015 3,740 790 2,961 3,750 Total variable compensation including FA variable compensation 5,218 1,960 7,178 2 1,626 4,097 5,723 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 831 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 41 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 872 million. c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP during 2018 and 2017 are provided in the table below. Movements in outstanding share and performance share awards granted under the EOP Number of shares 2018 Weighted average grant date fair value (USD) Number of shares 2017 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 162,835,713 15 165,626,088 16 Shares awarded during the year 58,329,398 17 63,872,651 15 Distributions during the year (67,696,099) 15 (58,756,089) 16 Forfeited during the year (6,623,984) 16 (7,906,936) 15 Outstanding, at the end of the year 146,845,027 16 162,835,713 15 of which: shares vested for accounting purposes 66,850,562 74,883,139 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 201 8 and 31 December 2017 was USD 39 million and USD 56 million, respectively. Option awards No option awards have been granted since 2009. The table below provides information on movements in outstanding option awards during 2018 and 2017. As these awards are Swiss franc-denominated, weighted average exercise prices are pr esented in Swiss francs. Movements in outstanding option awards Number of options 2018 Weighted average exercise price (CHF) Number of options 2017 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 32,583,168 25 55,913,291 39 Exercised during the year 1 (1,813,583) 12 (1,632,319) 12 Forfeited during the year (19,752) 23 (38,995) 27 Expired unexercised (24,182,241) 29 (21,658,809) 61 Outstanding, at the end of the year 6,567,592 14 32,583,168 25 Exercisable, at the end of the year 6,567,592 14 32,583,168 25 1 The weighted average share price upon option exercise was CHF 16.22 in 2018 (2017: CHF 16.73), resulting in an intrinsic value of CHF 7 million of options exercised during 2018 (2017: CHF 8 million). The table below provides additional information abou t options outstanding as of 31 December 2018 . Options outstanding Range of exercise prices Number of options outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 10.21–15.00 3,294,894 10.27 6.5 0.2 15.01–25.00 3,272,698 16.95 0.0 0.6 10.21–25.00 6,567,592 6.5 SAR awards No SAR awards have been granted since 2009. The table below provides information on movements in outstanding SAR awards during 2018 and 2017. As these awards are Swiss franc-denominated, weighted average exercise prices are pr esented in Swiss francs . Movements in outstanding SAR awards Number of SARs 2018 Weighted average exercise price (CHF) Number of SARs 2017 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 8,513,415 12 10,807,315 12 Exercised during the year 1 (2,490,146) 11 (2,212,700) 11 Forfeited during the year (11,000) 13 (23,000) 11 Expired unexercised (46,500) 12 (58,200) 13 Outstanding, at the end of the year 5,965,769 12 8,513,415 12 Exercisable, at the end of the year 5,965,769 12 8,513,415 12 1 The weighted average share price upon exercise of SARs was CHF 16.15 in 2018 (2017: CHF 16.70), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2018 (2017: CHF 12 million). The table below provides additional information about SARs outstanding as of 31 December 2018 . SARs outstanding Range of exercise prices Number of SARs outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 11.12–12.50 5,633,269 11.34 5.1 0.2 12.51–15.00 2,500 14.85 0.0 0.4 15.01–17.50 42,000 16.80 0.0 0.4 17.51–20.00 288,000 19.25 0.0 0.7 11.12–20.00 5,965,769 5.1 d) Valuation UBS share awards UBS measures compensation expense based on the average market price of the UBS share on the grant date as quoted on the SIX Swiss Exchange, taking into consideration post-vesting sale and hedge restrictions, non-vesting conditions and market conditions, where applicable. The fair value of the share awards subject to post-vesting sale and hedge restrictions is discounted on the basis of the duration of the post-vesting restriction and is referenced to the cost of purchasing an at-the-money European put option for the term of the transfer restriction. The weighted average discount for share and performance share awards granted during 2018 was approximately 18.0 % ( 2017 : 20.2 %) of the market price of the UBS share. The grant date fair value of notional shares without dividend entitlements also includes a deduction for the present value of future expected dividends to be paid between the grant date and distribution. UBS options and SARs awards The fair values of options and SARs have been determined using a standard closed-formula option valuation model. The expected term of each instrumen t is calculated on the basis of historical employee exercise behavior patterns, taking into account the share price, strike price, vesting period and the contractual life of the instrument. The term structure of volatility is derived from the implied volat ilities of traded options on UBS shares in combination with the observed long-term historical share price volatility. Expected future dividends are derived from traded UBS options or from the historical dividend pattern. |
UBS AG | |
Disclosure Equity Participation And Other Compensation Plans [Line Items] | |
Employee benefits: variable compensation [text block] | Note 30 Employee benefits: variable compensation a) Plans offered UBS has several share-based and other compensation plans that align the interests of Group Executive Board (GEB) members and other employees with the interests of investors. These compensation plans are also designed to meet regulatory requirements. T he most significant compensation plans are described below . For the majority of variable compensation awards granted under such plans to employees of UBS AG, the grantor entity is UBS Group AG. Expenses associated with these awards are charged by UBS Group AG to UBS AG. For the purpose of this Note, references to shares refer to UB S Group AG shares. Refer to Note 1 a item 6 for a description of the accounting policy related to share-based and other deferred compensation plans Mandatory deferred compensation plans Equity Ownership Plan (EOP) The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2 018 ) and before , the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over th e performance period. Starting with the EOP awards granted in 2019 for the performance year 2018 , the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET 1 ). Business division performance is measured on the basis of the ir average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal pe rformance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, starting with awards granted for the pe rformance year 2017, European Banking Authority guidelines do not permit in dividuals who are deemed to be Material Risk T akers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjusted for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend - bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdic tions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Deferred Contingent Capital Plan (DCCP) The DCCP is a mandatory deferred compensation plan for all employees with total annual compensation gre ater than USD / CHF 300,000. DCCP awards granted up to January 2015 represent a right to receive a cash payment at vesting. For awards granted since February 2015, DCCP takes the form of notional additional tier 1 (AT1) capital instruments, which at the discretion of UBS can be settled in either a cash payment or a perpetual, ma rketable AT1 capital instrument. DCCP a wards vest in full after five years, and up to seven years for UK senior management functions, unless there is a trigger event. Awards are forfeited if a viability event occurs, that is, if FINMA notifies the firm in writing that the DCCP awards must be written down to prevent an insolvency, bankruptcy or failure of UBS, or if UBS receives a commitment of extraordinary support from the public sector that is necessary to prevent such an event. Additionally, they are written down if the Group’s common equity tier 1 capital ratio falls below 10% for GEB members and below 7% for all other employees. As an additional performance condition, GEB members forfeit 20% of their award for each loss -making year during the vesting period. For awards granted up to January 2015, interest on the awards is paid annually, provided that UBS achieved an adjusted profit before tax in the preceding year. For awards granted since February 2015, interest payment s are discretionary. Where interest payments are not permitted, such as for MRTs, the DCCP award reflects the fair value of the granted non-interest - bearing award. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Asset Management EOP In order to align deferred compensation of certain Asset Management employees with the per formance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are ge nerally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Financial advisor variable compensation In line with market practice for US wealth management businesses, the compensation for US financial advisors in Gl obal Wealth Management is comprised of production payout and deferred compensa tion awards. Production payout is primarily based on compensable revenue and is paid monthly . Financial advisors may also qualify for deferred compensation awards, which generall y vest over a six-year period . The awards are based on strategic performance measures, including production, length of service with the firm and net new business. Production payout rates and deferred compensation awards may be reduced for, among other thin gs, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. Strategic objective awards Strategic objective awards are deferred compensation awards based on stra tegic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through per formance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise pa yable as production payout up to a certain percentage, which vest ed upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a parti cipant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ra tably vest in 20% installments six to 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. GrowthPlus GrowthPlus is a compensation p lan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. Other compensation plans Equity Plus Plan (Equity Plus) Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares a t market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which ma y be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable , a blocked UBS share award. Such shares will be unblocked in equal installments after two and t hree years. The compensation expense is recognized in the year of grant. Discontinued deferred compensation plans The following plans have been discontinued. Expenses related to these plans were fully recognized in the income statement in periods prior to 2018. Any remaining outstanding options and stock appreciation rights under these awards will expire during 2019. Senior Executive Eq uity Ownership Plan (SEEOP) Up to February 2012, GEB members and selected senior executives received a portion of their mandatory deferral in UBS shares or notional shares, which vested in equal installments over a five-year vesting period and were forfeit able if certain conditions had not been met. The employee’s business division or the Group as a whole had to be profitable in the financial year preceding scheduled vesting. Awards granted under SEEOP were settled by delivering UBS shares at vesting. No SE EOP awards have been granted since 2012. Senior Executive Stock Option Plan (SESOP) Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant dat e. These awards vested in full following a three-year vesting period and generally expire d 10 years from the grant date. No SESOP awards have been granted since 2008. Long-Term Deferred Retention Senior Incentive Scheme (LTDRSIS) Awards under the LTDRSIS w ere granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. Key Employee Stock Appreciation Rights Plan (KESAP) and Key Employee Stock Option Plan (KESOP) Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A S AR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s s trike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. b) Effect on the income statement Effect on the income statement for the financial year and future periods The table below provides information on compensation expenses related to total variable compensation, including financial advisor variable compensation, that were recognized in the financial year ended 31 December 2018 , as well as expenses that were def erred and will be recognized in the income statement for 2019 and later. The majority of expenses deferred to 201 9 and later that are related to the performance year 201 8 relates to awards granted in March 201 9 . The total compensation expense for unve sted share-based awards granted up to 31 December 2018 will be recognized in future periods over a weighted average period of 2.3 years. Variable compensation including financial advisor variable compensation Expenses recognized in 2018 Expenses deferred to 2019 and later USD million Related to the performance year 2018 Related to prior performance years Total Related to the performance year 2018 Related to prior performance years Total Non-deferred cash 1,896 (26) 1,870 0 0 0 Deferred compensation awards 360 564 924 570 638 1,208 of which: Equity Ownership Plan 208 299 507 316 238 554 of which: Deferred Contingent Capital Plan 126 235 361 232 373 605 of which: Asset Management EOP 25 28 53 22 26 48 of which: Other performance awards 0 2 2 0 1 1 Total variable compensation – performance awards 2,256 538 2,794 570 638 1,208 Replacement payments 7 61 68 58 40 99 Forfeiture credits 0 (136) (136) 0 0 0 Severance payments 106 0 106 0 0 0 Retention plan and other payments 31 33 64 23 33 56 Deferred Contingent Capital Plan: interest expense 0 116 116 96 191 288 Total variable compensation – other 144 75 220 178 264 442 Financial advisor variable compensation 3,233 237 3,470 128 639 767 of which: non-deferred cash 3,089 0 3,089 0 0 0 of which: deferred share-based awards 51 44 95 52 131 183 of which: deferred cash-based awards 93 193 286 76 507 584 Compensation commitments with recruited financial advisors 1 33 551 584 357 1,883 2,240 Total financial advisor variable compensation 3,266 789 4,054 484 2,522 3,006 Total variable compensation including FA variable compensation 5,666 1,402 7,068 2 1,233 3,424 4,656 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 612 million in expenses related to share-based compensation (performance awards: USD 507 million; other variable compensation: USD 10 million; financial advisor compensation: USD 95 million). A further USD 44 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 7 million; Other personnel expenses: USD 22 million, related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation Expenses recognized in 2017 Expenses deferred to 2018 and later USD million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 1,982 (24) 1,958 0 0 0 Deferred compensation awards 392 704 1,096 589 685 1,274 of which: Equity Ownership Plan 235 364 599 322 286 608 of which: Deferred Contingent Capital Plan 132 304 436 240 369 609 of which: Asset Management EOP 25 32 57 27 27 54 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,373 680 3,054 589 685 1,274 Replacement payments 12 58 70 82 41 123 Forfeiture credits 0 (106) (106) 0 0 0 Severance payments 95 0 95 0 0 0 Retention plan and other payments 24 38 62 30 32 62 Deferred Contingent Capital Plan: interest expense 0 110 110 80 218 297 Total variable compensation – other 131 99 231 191 291 482 Financial advisor variable compensation 3,050 260 3,310 156 795 951 of which: non-deferred cash 2,891 0 2,891 0 0 0 of which: deferred share-based awards 54 48 102 70 121 191 of which: deferred cash-based awards 104 212 316 86 674 760 Compensation commitments with recruited financial advisors 1 31 723 754 369 2,058 2,429 Total financial advisor variable compensation 3,080 984 4,064 526 2,853 3,379 Total variable compensation including FA variable compensation 5,585 1,764 7,349 2 1,306 3,829 5,135 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 726 million in expenses related to share-based compensation (performance awards: USD 599 million; other variable compensation: USD 25 million; financial advisor compensation: USD 102 million). A further USD 97 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 49 million; Other personnel expenses: USD 23 million, related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation Expenses recognized in 2016 Expenses deferred to 2017 and later USD million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,833 (42) 1,791 0 0 0 Deferred compensation awards 379 835 1,214 646 840 1,486 of which: Equity Ownership Plan 217 491 708 256 349 605 of which: Deferred Contingent Capital Plan 136 299 435 358 460 818 of which: Asset Management EOP 26 39 66 32 26 58 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,212 793 3,005 646 840 1,486 Replacement payments 25 62 87 40 30 70 Forfeiture credits 0 (74) (74) 0 0 0 Severance payments 220 0 220 0 0 0 Retention plan and other payments 26 51 78 23 26 50 Deferred Contingent Capital Plan: interest expense 0 113 113 96 239 335 Total variable compensation – other 271 153 425 159 296 455 Financial advisor variable compensation 2,682 250 2,931 194 877 1,071 of which: non-deferred cash 2,534 0 2,534 0 0 0 of which: deferred share-based awards 34 49 82 57 117 174 of which: deferred cash-based awards 114 201 315 137 760 897 Compensation commitments with recruited financial advisors 1 43 765 808 596 2,084 2,679 Total financial advisor variable compensation 2,725 1,015 3,740 790 2,961 3,750 Total variable compensation including FA variable compensation 5,208 1,961 7,170 2 1,595 4,096 5,691 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 830 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 40 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP during 2018 and 2017 are provided in the table below. The awards presented are granted by UBS AG, but are based on UBS Group AG shares. Movements in outstanding share and performance share awards granted under the EOP Number of shares 2018 Weighted average grant date fair value (USD) Number of shares 2017 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 404,720 15 512,185 16 Shares awarded during the year 26,005 13 117,082 14 Distributions during the year (228,932) 15 (212,984) 17 Forfeited during the year 0 0 (11,563) 15 Outstanding, at the end of the year 201,793 15 404,720 15 of which: shares vested for accounting purposes 133,225 132,117 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 201 8 and 31 December 2017 was USD 2 million and USD 5 million, respectively. d) Valuation Share awards UBS AG measures compensation expense based on the average market price of the UBS share on the grant date as quoted on the SIX Swiss Exchange, taking into consideration post-vesting sale and hedge restrictions, non-vesting conditions and market conditions, where applicable. The fair value of the share awards subject to post-vesting sale and hedge restrictions is discounted on the basis of the duration of the post-vesting restriction and is referenced to the cost of purchasing an at-the-money European put option for the term of the transfer restriction. The weighted average discount for share and performance share awards granted du ring 2018 was approximately 18.0 % ( 2017 : 20.2 %) of the market price of the UBS share. The grant date fair value of notional shares without dividend entitlements also includes a deduction for the present value of future expected dividends to be paid b etween the grant date and distribution. |
Interests in subsidiaries
Interests in subsidiaries | 12 Months Ended |
Dec. 31, 2018 | |
Interests In Subsidiaries [Line Items] | |
Disclosure Of Interests In Subsidiaries Explanatory | Note 31 Interests in subsidiaries and other entities a) Interests in subsidiaries UBS defines its significant subsidiaries as those entities that, either individually or in aggregate, contribute significantly to the Group’s financial position or results of operations, based on a number of criteria, including the subsidiaries’ equity and their contribution to the Group’s total assets and profit or loss before tax, in accordance with the requirements set by IFRS 12, Swiss regulations and the rules of the US Securities and Exchange Commission (SEC). Individually significant subsidiaries The two tables below list the Group’s individually significan t subsidiaries as of 31 December 2018. Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held fully by the Group, and the proportion of ownership interest held is equal to the voting rig hts held by the Group. The country where the respective registered office is located is also the principal place of business. UBS AG operates through a global network of branches and a significant proportion of its business activity is conducted outside S witzerland in the UK, US, Singapore, Hong Kong and other countries. UBS Europe SE has branches and offices in a number of EU member states, including Germany, Italy, Luxembourg, Spain and Austria . Share capital is provided in the currency of the legally re gistered office. Subsidiaries of UBS Group AG as of 31 December 2018 Company Registered office Share capital in million Equity interest accumulated in % UBS AG Zurich and Basel, Switzerland CHF 385.8 100.0 UBS Business Solutions AG 1 Zurich, Switzerland CHF 1.0 100.0 UBS Group Funding (Switzerland) AG Zurich, Switzerland CHF 0.1 100.0 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2018 1 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 2 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Global Wealth Management USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Global Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 3 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Includes direct and indirect subsidiaries of UBS AG. 2 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 3 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. Other subsidiaries The table below lists other direct and indirect subsidiaries of UBS AG that are not individually significant but that contribute to the Group’s total assets and aggregated profit before tax thresholds and are thereby disclosed in accordance with the requirements set by the SEC. Other subsidiaries of UBS AG as of 31 December 2018 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 254.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Credit Corp. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS (France) S.A. Paris, France Global Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Global Wealth Management EUR 49.2 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. Consolidated s tructured entities UBS consolidates a structured entity (SE) if it has power over the relevant activities of the entity, exposure to variable returns and the ability to use its power to affect its returns. Consolidated SEs include certain investment funds, securitization vehicles and client investment vehicles. UBS has no individually significant subsidiaries that are SEs. Investment fund SEs are generally consolidated when the Group’s aggregate exposure combined with its decision-making rights indicate the ability to use such power in a principal capacity. Typically the Group will have decision-making rights as fund manager, earning a management fee, and will provide seed capital at the inception of the fund or hold a significant percentage of the fund unit s. Where other investors do not have the substantive ability to remove UBS as decision maker, the Group is deemed to have control and therefore consolidates the fund. Securitization SEs are generally consolidated when the Group holds a significant percenta ge of the asset-backed securities issued by the SE and has the power to remove without cause the servicer of the asset portfolio. Client investment SEs are generally consolidated when the Group has a substantive liquidation right over the SE or a decision right over the assets held by the SE and has exposure to variable returns through derivatives traded with the SE or holding notes issued by the SE. In 2018 and 2017, the Group did not enter into any contractual obligation that could require the Group to pr ovide financial support to consolidated SEs. In addition, the Group did not provide support, financial or otherwise, to a consolidated SE when the Group was not contractually obligated to do so, nor has the Group an intention to do so in the future. Furthe r, the Group did not provide support, financial or otherwise, to a previously unconsolidated SE that resulted in the Group controlling the SE during the reporting period. |
UBS AG | |
Interests In Subsidiaries [Line Items] | |
Disclosure Of Interests In Subsidiaries Explanatory | Note 31 Interests in subsidiaries and other entities a) Interests in subsidiaries UBS AG defines its significant subsidiaries as those entities that, either individually or in aggregate, contribute significantly to UBS AG’s financial position or results of operations, based on a number of criteria, including the subsidiaries’ equity and their contribution to UBS AG’s total assets and profit or loss before tax, in accordance with the requirements set by IFRS 12, Swiss regulations and the rules of the US Securities and Exchange Commission (SEC). Individually significant subsidiaries The table be low lists UBS AG’s individually significant subsidiaries as of 31 December 2018. Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held fully by UBS AG, and the proportion of ownership i nterest held is equal to the voting rights held by UBS AG. The country where the respective registered office is located is also the principal place of business. UBS AG operates through a global network of branches and a significant proportion of its busi ness activity is conducted outside Switzerland in the UK, US, Singapore, Hong Kong and other countries. UBS Europe SE has branches and offices in a number of EU member states, including Germany, Italy, Luxembourg, Spain and Austria . Share capital is provid ed in the currency of the legally registered office. Individually significant subsidiaries as of 31 December 2018 1 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 2 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Global Wealth Management USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Global Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 3 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Includes direct and indirect subsidiaries of UBS AG. 2 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 3 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. Other subsidiaries The table below lists other direct and indirect subsidiaries of UBS AG that are not individually significant but that contribute to UBS AG’s total assets and aggregated profit before tax thresholds and are thereby disclosed in accordance with the requirements set by the SEC. Other subsidiaries as of 31 December 2018 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 254.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Credit Corp. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS (France) S.A. Paris, France Global Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Global Wealth Management EUR 49.2 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. Consolidated structured entities UBS AG consolidates a structured entity (SE) if it has power over the relevant activities of the entity, exposure to variable returns and the ability to use its power to affect its returns. Consolidated SEs include certain investment funds, securitization vehicl es and client investment vehicles. UBS AG has no individually significant subsidiaries that are SEs. Investment fund SEs are generally consolidated when UBS AG’s aggregate exposure combined with its decision-making rights indicate the ability to use such p ower in a principal capacity. Typically UBS AG will have decision-making rights as fund manager, earning a management fee, and will provide seed capital at the inception of the fund or hold a significant percentage of the fund units. Where other investors do not have the substantive ability to remove UBS as decision maker, UBS AG is deemed to have control and therefore consolidates the fund. Securitization SEs are generally consolidated when UBS AG holds a significant percentage of the asset-backed securiti es issued by the SE and has the power to remove without cause the servicer of the asset portfolio. Client investment SEs are generally consolidated when UBS AG has a substantive liquidation right over the SE or a decision right over the assets held by the SE and has exposure to variable returns through derivatives traded with the SE or holding notes issued by the SE. In 2018 and 2017, UBS AG did not enter into any contractual obligation that could require UBS AG to provide financial support to consolidated SEs. In addition, UBS AG did not provide support, financial or otherwise, to a consolidated SE when UBS AG was not contractually obligated to do so, nor has UBS AG an intention to do so in the future. Further, UBS AG did not provide support, financial or o therwise, to a previously unconsolidated SE that resulted in UBS AG controlling the SE during the reporting period. |
Interests in associates and joi
Interests in associates and joint ventures | 12 Months Ended |
Dec. 31, 2018 | |
Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of interests in associates and joint ventures [text block] | b) Interests in associates and joint ventures As of 31 December 2018 and 2017 , no associate or joint venture was individually material to the Group. In addition, there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made . There were no quoted market prices for any associates or joint ventures of the Group. UBS Securities Chi na is no longer recognized as an investment in associate as of 31 December 2018 as this entity was consolidated following an increase in stake from 24.99% to 51% and UBS acquiring control in December 2018. Refer to Note 32 for more information In November 2018, SIX and Worldline entered into a strategic partnership in the cards business under which SIX transferred its existing cards business to Worldline and received a 27% stake in Worldlin e. UBS recognized a gain of USD 460 million in the income statement , proportional to UBS’s 17.31% equity ownership in SIX . Investments in associates and joint ventures USD million 2018 2017 Carrying amount at the beginning of the year 1,045 947 Additions 3 3 Disposals 1 (431) 0 Reclassifications 2 (21) 0 Share of comprehensive income 529 100 of which: share of net profit 3 529 76 of which: share of other comprehensive income 4 1 24 Dividends received (42) (53) Impairment (7) Foreign currency translation 16 55 Carrying amount at the end of the year 1,099 1,045 of which: associates 1,066 1,014 of which: UBS Securities China 1 412 of which: SIX Group AG, Zurich 5 952 476 of which: other associates 114 127 of which: joint ventures 33 30 1 In December 2018, UBS increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance with IFRS 10, Consolidated Financial Statements. Upon acquisition of control, UBS derecognized its former investment in associate. Refer to Note 32 for more information. 2 Reflects reclassifications to Properties and other non-current assets held for sale. 3 For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. 4 For 2018, the total of USD 1 million is from associates. For 2017, consists of USD 24 million from associates and negative USD 1 million from joint ventures. 5 In 2018, UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
UBS AG | |
Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of interests in associates and joint ventures [text block] | b) Interests in associates an d joint ventures As of 31 December 2018 and 2017 , no associate or joint venture was individually material to UBS AG. In addition, there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS AG or its subsidiaries in the form of cash dividends or to repay loans or advances made . There were no quoted market prices for any associates or joint ventures of UBS AG. UBS Securities China is no longer recognized as an investment in associate a s of 31 December 2018 as this entity was consolidated following an increas e in stake from 24.99% to 51% and UBS AG acquiring control in December 2018. Refer to Note 32 for more information In November 2018, SIX and Worldline entered into a strategic partn ership in the cards business under which SIX transferred its existing cards business to Worldline and received a 27% stake in Worldline. UBS AG recognized a gain of USD 460 million in the income statement, proportional to UBS AG’s 17.31% equity ownership i n SIX. Investments in associates and joint ventures USD million 31.12.18 31.12.17 Carrying amount at the beginning of the year 1,045 947 Additions 3 3 Disposals 1 (431) 0 Reclassifications 2 (21) 0 Share of comprehensive income 529 100 of which: share of net profit 3 529 76 of which: share of other comprehensive income 4 1 24 Dividends received (42) (53) Impairment 0 (7) Foreign currency translation 16 55 Carrying amount at the end of the year 1,099 1,045 of which: associates 1,066 1,014 of which: UBS Securities China 1 0 412 of which: SIX Group AG, Zurich 5 952 476 of which: other associates 114 127 of which: joint ventures 33 30 1 In December 2018, UBS AG increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance with IFRS 10, Consolidated Financial Statements. Upon acquisition of control, UBS AG derecognized its former investment in associate. Refer to Note 32 for more information. 2 Reflects reclassifications to Properties and other non-current assets held for sale. 3 For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. 4 For 2018, the total of USD 1 million is from associates. For 2017, consists of USD 24 million from associates and negative USD 1 million from joint ventures. 5 In 2018, UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in unconsolidated str
Interests in unconsolidated structured entities | 12 Months Ended |
Dec. 31, 2018 | |
Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Unconsolidated Structured Entities Explanatory | c) Interests in unconsolidated structured entities During 2018, the Group sponsored the creation of various SEs and interacted with a number of non-sponsored SEs, in cluding securitization vehicles, client vehicles as well as certain investment funds, that UBS did not consolidate as of 31 December 2018 because it did not control these entities. The table below presents the Group’s interests in and maximum exposure to loss from unconsolidated SEs as well as the total assets held by the SEs in which UBS had an interest as of year-end , except for investment funds sponsored by third parties, for which the carrying value of UBS’s interest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 420 174 7,297 7,890 7,890 Derivative financial instruments 8 35 1 44 44 Loans and advances to customers 179 179 179 Financial assets at fair value not held for trading 87 48 2 166 3 302 1,878 Financial assets measured at fair value through other comprehensive income 3,931 3,931 3,931 Other financial assets measured at amortized cost 312 25 2 337 1,423 Total assets 826 4 4,212 7,643 12,682 Derivative financial instruments 3 5 123 32 158 3 Total liabilities 3 123 32 158 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 63 6 69 7 385 8 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 373 316 6,302 6,991 6,991 Derivative financial instruments 22 70 23 114 114 Loans and advances to customers 100 100 100 Financial assets at fair value not held for trading 86 68 2 108 262 1,826 Financial assets measured at fair value through other comprehensive income 3,965 46 3 4,011 4,011 Other financial assets measured at amortized cost 299 30 2 328 1,443 Total assets 779 4 4,449 6,578 11,806 Derivative financial instruments 21 5 54 208 283 14 Total liabilities 21 54 208 283 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 9 58 6 80 7 422 8 1 For the purpose of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 Upon adoption of IFRS 9 on 1 January 2018, investment fund units that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 0.6 billion of the USD 0.8 billion (31 December 2017: USD 0.7 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 5 Comprised of credit default swap liabilities and other swap liabilities. The maximum exposure to loss for credit default swap liabilities is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 6 Represents the principal amount outstanding. 7 Represents the market value of total assets. 8 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. 9 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated structured entities at 31 December 2017 would have been USD 0.3 million and USD 0.2 million lower for securitization vehicles and client vehicles, respectively. Assets held by the unconsolidated structured entities in which UBS had an interest at 31 December 2017 would have been USD 26 billion lower for securitization vehicles and USD 22 billion lower for client vehicles. The Group retains or purchases interests in unconsolidated SEs in the form of direct investments, financing, guarantees, letters of credit, derivatives and through management contracts. The Group’s maximum exposure to loss is generally equal to the carrying value of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives , for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. The maximum exposure to loss disclosed in the table on the previous page does not reflect the Group’s risk management activities, including effects from financial instruments that may be used to economically h edge the risks inherent in the unconsolidated SE or the risk-reducing effects of collateral or other credit enhancements. In 2018 and 2017 , the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obli gated to do so, nor has the Group an intention to do so in the future. In 2018 and 2017 , income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to f inancing, underwriting, secondary market and derivative trading activities. In some cases the Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership stru cture. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table may differ fr om the securitization positio ns presented in the 31 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following p age s of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value with in the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more in formation Interests in client vehicles As of 31 December 2018 and 31 December 2017 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge struc tured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contract s represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund as sets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . Interests in unconsolidated securitization vehicles 1 31.12.18 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 87 196 8 291 of which: rated investment grade 196 196 of which: rated sub-investment grade 87 8 95 of which: not rated 0 0 Interests in mezzanine tranches 13 13 of which: rated investment grade 12 12 of which: not rated 0 0 Interests in junior tranches 8 1 9 of which: not rated 8 1 9 Total 95 210 8 313 of which: financial assets at fair value held for trading 8 210 8 226 of which: financial assets at fair value not held for trading 87 87 Total assets held by the vehicles in which UBS had an interest (USD billion) 0 24 1 25 Not sponsored by UBS Interests in senior tranches 1 33 25 126 185 of which: rated investment grade 1 33 0 126 160 of which: not rated 0 25 25 Interests in mezzanine tranches 1 7 8 of which: rated investment grade 2 2 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 of which: not rated 0 5 5 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 Total 3 41 25 126 194 of which: financial assets at fair value held for trading 3 41 25 126 194 Total assets held by the vehicles in which UBS had an interest (USD billion) 2 12 22 1 37 Interests in unconsolidated securitization vehicles (continued) 1 31.12.17 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 86 24 0 11 121 of which: rated investment grade 0 24 0 24 of which: rated sub-investment grade 86 86 of which: defaulted 11 11 Interests in junior tranches 9 9 of which: rated investment grade 9 9 Total 86 33 0 11 130 of which: financial assets at fair value held for trading 33 0 11 44 of which: financial assets at fair value not held for trading 86 86 Total assets held by the vehicles in which UBS had an interest (USD billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 77 7 169 66 319 of which: rated investment grade 77 7 169 66 319 Interests in mezzanine tranches 9 1 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 87 7 169 66 330 of which: financial assets at fair value held for trading 87 7 169 66 330 Total assets held by the vehicles in which UBS had an interest (USD billion) 4 19 5 20 0 44 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. 4 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated securitization vehicles at 31 December 2017 would have been USD 0.3 million lower and the assets held by these unconsolidated securitization vehicles would have been USD 26 billion lower. Sponsored unconsolidated structured entities in which UBS did not have an interest For several sponsored SEs, no interest was held by the Group at year-end . However, during the respective reporting period the Group tran sferred assets, provided services and held instruments that did not qualify as an interest in these sponsored SEs, and accordingly earned income or incurred expenses from these entities. The table below presents the income earned and expenses incurred dire ctly from these entities during the year as well as corresponding asset information. The table does not include income earned and expenses incurred from risk management activities, including income and expenses from financial instruments used to economical ly hedge instruments transacted with the unconsolidated SEs. The majority of the fee income arose from investment funds that are sponsored and administrated by the Group, but managed by third parties. As the Group does not provide any active management services, UBS was not exposed to risk from the performance of these entities and was therefore deemed not to have an interest in them. In certain structures, the fees receivable may be collected directly from the investors and have therefore not been incl uded in the table below. The Group also recorded other net income from fair value changes on financial instruments from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, th rough which the Group purchases protection, and financial liabilities designated at fair value, which do not qualify as interests because the Group does not absorb variability from the performance of the entity. Total income reported does not reflect econo mic hedges or other mitigating effects from the Group’s risk management activities. During 2018 , UBS and third parties transferred assets of USD 1 billion and USD 1 billion , respectively , into sponsored securitization ve hicles created in the year ( 2017 : USD 2 billion and USD 8 billion , respectively). UBS and third parties also transferred assets of USD 2 billion and USD 0 billion , respectively , into sponsored client vehicles created in the year ( 2017 : USD 3 billion and USD 1 billion , respectively) . For sponsored investment funds, transfers arose during the period as investors invested and redeemed positions, thereby changing the overall size of the funds, which, when combined with market movements, resulted in a total closing net asset value of USD 18 billion (31 December 2017 : USD 1 5 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 0 (6) 1 (5) Net fee and commission income 16 39 54 Other net income from fair value changes on financial instruments 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 2 2 3 18 4 As of or for the year ended 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 41 41 Other net income from fair value changes on financial instruments (8) (50) 2 (56) Total income (6) (59) 43 (22) Asset information (USD billion) 10 2 4 3 15 4 1 For the year ended 31 December 2018, no profit attributable to non-controlling interests was excluded from the table (31 December 2017: USD 73 million). 2 Represents the amount of assets transferred to the respective securitization vehicles. 3 Represents the amount of assets transferred to the respective client vehicles. Information in the comparative period has been restated. Asset information as of 31 December 2017 has decreased by USD 3 billion as a result. 4 Represents the total net asset value of the respective investment funds. |
UBS AG | |
Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Unconsolidated Structured Entities Explanatory | c) Interests in unconsolidated structured entities During 2018, UBS AG sponsored the creation of various SEs and interacted with a number of non-sponsored SEs, including securitization vehicles, client vehicles as wel l as certain investment funds, that UBS did not consolidate as of 31 December 2018 because it did not control these entities. The table below presents UBS AG ’s interests in and maximum exposure to loss from unconsolidated SEs as well as the total assets h eld by the SEs in which UBS had an interest as of year-end , except for investment funds sponsored by third parties, for which the carrying value of UBS’s interest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 420 174 7,297 7,890 7,890 Derivative financial instruments 8 35 1 44 44 Loans and advances to customers 179 179 179 Financial assets at fair value not held for trading 87 48 2 85 3 220 1,796 Financial assets measured at fair value through other comprehensive income 3,931 3,931 3,931 Other financial assets measured at amortized cost 312 25 2 337 1,423 Total assets 826 4 4,212 7,562 12,600 Derivative financial instruments 3 5 123 32 158 3 Total liabilities 3 123 32 158 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 63 6 69 7 385 8 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 373 316 6,302 6,991 6,991 Derivative financial instruments 22 70 23 114 114 Loans and advances to customers 100 100 100 Financial assets at fair value not held for trading 86 68 2 154 1,718 Financial assets measured at fair value through other comprehensive income 3,965 46 3 4,011 4,011 Other financial assets measured at amortized cost 299 30 2 328 1,443 Total assets 779 4 4,449 6,470 11,698 Derivative financial instruments 21 5 54 208 283 14 Total liabilities 21 54 208 283 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 9 58 6 80 7 422 8 1 For the purpose of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 Upon adoption of IFRS 9 on 1 January 2018, investment fund units that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 0.6 billion of the USD 0.8 billion (31 December 2017: USD 0.7 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 5 Comprised of credit default swap liabilities and other swap liabilities. The maximum exposure to loss for credit default swap liabilities is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 6 Represents the principal amount outstanding. 7 Represents the market value of total assets. 8 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. 9 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated structured entities at 31 December 2017 would have been USD 0.3 million and USD 0.2 million lower for securitization vehicles and client vehicles, respectively. Assets held by the unconsolidated structured entities in which UBS had an interest at 31 December 2017 would have been USD 26 billion lower for securitization vehicles and USD 22 billion lower for client vehicles. UBS AG retains or purchases interests in unconsolidated SEs in the form of direct investments, financing, guarantees, letters of credit, derivatives and through management contracts. UBS AG ’s maximum exposure to loss is generally equal to the carrying value of U BS AG ’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives , for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. The m aximum exposure to loss disclosed in the table on the previous page does not reflect UBS AG ’s risk management activities, including effects from financial instruments that may be used to economically hedge the risks inherent in the unconsolidated SE or the risk-reducing effects of collateral or other credit enhancements. In 2018 and 2017 , UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in th e future. In 2018 and 2017 , income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments , which have generally been hedged wi th other financial instruments, as well as fee and commission income received from UBS - sponsored funds. Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , UBS AG held interests, both retained and acquired, in various se curitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’s interest is subordinated to others in the ownership structure. An overview of UBS AG’s interests in unconsolidated securitiza tion vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following pages. The numbers outlined in this table may differ from the securitization positions presented in the 3 1 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following page s of sy nthetic securitizations transacted with entities that are not SEs and transactions in which UBS AG did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by UBS AG versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information Inter ests in client vehicles As of 31 December 2018 and 31 December 2017 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Includ ed within these investments are securities guaranteed by US government agencies. Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerin gs. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of th e fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG ’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the inve stors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . Interests in unconsolidated securitization vehicles 1 31.12.18 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 87 196 8 291 of which: rated investment grade 196 196 of which: rated sub-investment grade 87 8 95 of which: not rated 0 0 Interests in mezzanine tranches 13 13 of which: rated investment grade 12 12 of which: not rated 0 0 Interests in junior tranches 8 1 9 of which: not rated 8 1 9 Total 95 210 8 313 of which: financial assets at fair value held for trading 8 210 8 226 of which: financial assets at fair value not held for trading 87 87 Total assets held by the vehicles in which UBS had an interest (USD billion) 0 24 1 25 Not sponsored by UBS Interests in senior tranches 1 33 25 126 185 of which: rated investment grade 1 33 0 126 160 of which: not rated 0 25 25 Interests in mezzanine tranches 1 7 8 of which: rated investment grade 2 2 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 of which: not rated 0 5 5 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 Total 3 41 25 126 194 of which: financial assets at fair value held for trading 3 41 25 126 194 Total assets held by the vehicles in which UBS had an interest (USD billion) 2 12 22 1 37 Interests in unconsolidated securitization vehicles (continued) 1 31.12.17 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 86 24 0 11 121 of which: rated investment grade 0 24 0 24 of which: rated sub-investment grade 86 86 of which: defaulted 11 11 Interests in junior tranches 9 9 of which: rated investment grade 9 9 Total 86 33 0 11 130 of which: financial assets at fair value held for trading 33 0 11 44 of which: financial assets at fair value not held for trading 86 86 Total assets held by the vehicles in which UBS had an interest (USD billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 77 7 169 66 319 of which: rated investment grade 77 7 169 66 319 Interests in mezzanine tranches 9 1 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 87 7 169 66 330 of which: financial assets at fair value held for trading 87 7 169 66 330 Total assets held by the vehicles in which UBS had an interest (USD billion) 4 19 5 20 0 44 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. 4 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated securitization vehicles at 31 December 2017 would have been USD 0.3 million lower and the assets held by these unconsolidated securitization vehicles would have been USD 26 billion lower. Sponsored unconsolidated structured entities in which UBS did not have an interest For several sponsored SEs, no interest was held by UBS AG at year-end . However, during the respective reporting period UBS AG transferred assets, provided services and held instruments that did not qualify as an interest in these sponsored SEs, and accordingly earned income or incurred expenses from these entities. The table below presents the income earned and expenses incurr ed directly from these entities during the year as well as corresponding asset information. The table does not include income earned and expenses incurred from risk management activities, including income and expenses from financial instruments used to eco nomically hedge instruments transacted with the unconsolidated SEs. The majority of the fee income arose from investment funds that are sponsored and administrated by UBS AG , but managed by third parties. As UBS AG does not provide any active management se rvices, UBS AG was not exposed to risk from the performance of these entities and was therefore deemed not to have an interest in them. In certain structures, the fees receivable may be collected directly from the investors and have therefore not been incl uded in the table below. UBS AG also recorded other net income from fair value changes on financial instruments from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, throu gh which UBS AG purchases protection, and financial liabilities designated at fair value, which do not qualify as interests because UBS AG does not absorb variability from the performance of the entity. Total income reported does not reflect economic hedge s or other mitigating effects from UBS AG ’s risk management activities. During 2018 , UBS AG and third parties transferred assets of USD 1 billion and USD 1 billion , respectively , into sponsored securitization vehicles created in the year ( 2017 : USD 2 billion and USD 8 billion , respectively). UBS and third parties also transferred assets of USD 2 billion and USD 0 billion , respectively , into sponsored client vehicles created in the year ( 2017 : USD 3 billion and USD 1 billion , respectively). For spon sored investment funds, transfers arose during the period as investors invested and redeemed positions, thereby changing the overall size of the funds, which, when combined with market movements, resulted in a total closing net asset value of USD 18 billio n (31 December 2017 : USD 15 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 0 (6) 1 (5) Net fee and commission income 16 39 54 Other net income from fair value changes on financial instruments 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 2 2 3 18 4 As of or for the year ended 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 41 41 Other net income from fair value changes on financial instruments (8) (50) 2 (56) Total income (6) (59) 43 (22) Asset information (USD billion) 10 2 4 3 15 4 1 For the year ended 31 December 2018, no profit attributable to non-controlling interests was excluded from the table (31 December 2017: USD 73 million). 2 Represents the amount of assets transferred to the respective securitization vehicles. 3 Represents the amount of assets transferred to the respective client vehicles. Information in the comparative period has been restated. Asset information as of 31 December 2017 has decreased by USD 3 billion as a result. 4 Represents the total net asset value of the respective investment funds. |
Changes in organization and dis
Changes in organization and disposals | 12 Months Ended |
Dec. 31, 2018 | |
Changes In Organization And Disposals [Line Items] | |
Disclosure of changes in organization and disposals [text block] | Note 32 Changes in organization and acquisitions and disposals of subsidiaries and businesses Changes in Group structure and organization UBS Business Solutions AG In 2015, UBS Business Solutions AG was established as a direct subsidiary of UBS Group AG to act as the Group service company and UBS transferred the ownership of the majority of its existing service subsidiaries outside the US to UBS Business Solutions AG . In 2017, shared services functions in Switzerland and the UK were transferred from UBS AG to UBS Business Solutions AG. In 2017, UBS also completed the transfer of the shared services employees in the US to its US service company, UBS Business Solutions US LLC, a wholly owned subsidiary of UBS Americas Holding LLC. UBS Group Funding (Switzerland) AG UBS established UBS Group Funding (Switzerland) AG in 2016 as a wholly owned direct subsidiary of UBS Group AG, to issue loss-absorbing additional tier 1 (AT 1) capital instruments and total loss-absorbing capacity (TLAC)-eligible senior unsecured debt, which are guaranteed by UBS Group AG. In 2017, UBS transferred the then outstanding TLAC-eligible senior unsecured debt to UBS Group Funding (Switzerland) AG as the issuer. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. Following the substitution, the relevant AT1 capital instruments are guaranteed by UBS Group AG, and investors’ seniority of claim against UBS Group AG remains unchanged. UBS Europe SE In 2016, UBS merged its Wealth Management subsidiaries in Italy, Luxembourg (including its branches in Austria, Denmark and Sweden), the Netherlands and Spain into UBS Deutschland AG, which was renamed to UBS Europe SE, in order to establish UBS’s new European legal entity, which is headquartered in Frankfurt, Germany. The previously announced combined UK business transfer and cross-border merger of UBS Limited into UBS Europe SE took place on 1 March 2019. Transfer of assets and liabilities from UBS Limited to UBS AG, London Branch In the fourth quarter of 2018, clients and other counterparties of UBS Limited who can be serviced by UBS AG, London Br anch were generally migrated to UBS AG, London Branch. Transactions affecting the businesses that were transferred which occurred on or after the transfer date were recorded in UBS AG, London Branch. UBS Asset Management AG In 2016, UBS transferred the ma jority of the operating subsidiaries of Asset Management to UBS Asset Management AG. Increase of stake in and consolidation of UBS Securities China In December 2018, UBS increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring cont rol of the entity in accordance with IFRS 10, Consolidated Financial Statements . Upon acquisition of control, UBS remeasured its former 24.99% holding at fair value, resulting in a pre-tax loss of USD 270 million, recognized in Other income . In addition, a net foreign currency translation gain of USD 46 million was recognized upon derecognition of the former investment in associate, also in Other income . The cost of acquisition of the additional 26.01% stake was USD 125 million. Upon consolidation, UBS reco gnized USD 102 million of goodwill and USD 278 million of other net assets. In addition, a non-controlling interest of USD 136 million has been recognized. Acquisitions In October 2018, UBS acquired certain assets and liabilities from Nordea’s Luxembourg-b ased private banking business for a consideration of approximately EUR 120 million. As a result of the transaction, UBS recognized a total of EUR 1.1 billion of loans (mortgages, Lombard loans, overdrafts), EUR 1.3 billion of cash and EUR 2.4 billion of de posits, as well as approximately EUR 75 million of intangible assets and approximately EUR 50 million of goodwill, recognized in Global Wealth Management . In addition, UBS reported an increase of approximately EUR 9.5 billion in client assets, of which app roximately EUR 6 .1 billion count as invested assets. Sales and disposals of subsidiaries and businesses In 2018, 2017 and 2016, no significant subsidiaries were removed from the scope of consolidation as a result of sales or disposals. In the third quarte r of 2018, UBS completed the sale of Widder Hotel, resulting in a pre-tax gain on sale of subsidiaries and businesses of USD 25 million and a pre-tax gain on sale of real estate of USD 31 million. In 2017, UBS completed the sale of Asset Management’s fund administration servicing units in Luxembourg and Switzerland to Northern Trust, resulting in a pre-tax gain on sale of USD 153 million. Also in 2017, UBS completed the sale of a life insurance subsidiary within Global Wealth Manage ment. A loss on sale of USD 24 million was recognized in 2016 relating to this transaction. |
UBS AG | |
Changes In Organization And Disposals [Line Items] | |
Disclosure of changes in organization and disposals [text block] | Note 32 Changes in organization and acquisitions and disposals of subsidiaries and businesses Changes in Group structure and organization UBS Business Solutions AG In 2015, UBS Business Solutions AG was established as a direct subsidiary of UBS Group AG to act as the Group service company and UBS AG transferred the ownership of the majority of its existing service subsidiaries outside the US to UBS Business Solutions AG. In 2017, shared services functions in Switzerland and the UK were transferred from UBS AG to UBS Business Solutions AG. In 2017, UBS AG also completed the transfer of the shared services employees in the US to its US service company, UBS Business Solutions US LLC, a wholly owned subsidiary of UBS Americas Holding LLC. UBS Europe SE In 2016, UBS AG merged its Wealth Management subsidiaries in Italy, Luxembourg (including its branches in Austria, Denmark and Sweden), the Netherlands and Spain into UBS Deutschland AG , which was renamed to UBS Europe SE, in order to establish UBS AG’s new European legal entity, which is headquartered in Frankfurt, Germany. The previously announced combined UK business transfer and cross-border merger of UBS Limited into UBS Europe SE took place on 1 March 2019. Transfer of assets and liabilities from UBS Limited to UBS AG, London Branch In the fourth quarter of 2018, clients and other counterparties of UBS Limited who can be serviced by UBS AG, London Branch were generally migrated to UBS AG, London Branch. Transactions affecting the businesses that were transferred which occurred on or after the transfer date were recorded in UBS AG, London Branch. UBS Asset Management AG In 2016, UBS AG transferred the majority of the operating subsidiaries of Asset Management to UBS Asset Management AG. Increase of stake in and consolidation of UBS Se curities China In December 2018, UBS AG increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance wit h IFRS 10, Consolidated Financial Statements . Upon acquisition of control, UBS AG remeasured its former 24.99% holding at fair value, r esulting in a pre-tax loss of USD 270 million, recognized in Other income . In addition, a net foreign currency translation gain of USD 46 million was recognized upon derecognition of the former investment in associate, also in Other income . The cost of acq uisition of the additional 26.01% stake was USD 125 million. Upon consolidation, UBS AG recognized USD 102 million of goodwill and USD 278 million of other net assets. In addition, a non-controlling interest of USD 136 million was recognized. Acquisitions In October 2018, UBS AG acquired certain assets and liabilities from Nordea’s Luxembourg-based private banking business for a consideration of approximately EUR 120 million. As a result of the transaction, UBS AG recognized a total of EUR 1.1 billion of lo ans (mortgages, Lombard loans, overdrafts), EUR 1.3 billion of cash and EUR 2.4 billion of deposits, as well as approximately EUR 75 million of intangible assets and approximately EUR 50 million of goodwill, recognized in Global Wealth Management . In addit ion, UBS AG reported an increase of approximately EUR 9.5 billion in client assets, of which approximately EUR 6 .1 billion count as invested assets. Sales and disposals of subsidiaries and businesses In 2018, 2017 and 2016, no significant subsidiaries wer e removed from the scope of consolidation as a result of sales or disposals. In the third quarter of 2018, UBS AG completed the sale of Widder Hotel, resulting in a pre-tax gain on sale of subsidiaries and businesses of USD 25 million and a pre-tax gain on sale of real estate of USD 31 million. In 2017, UBS AG completed the sale of Asset Management’s fund administration servicing units in Luxembourg and Switzerland to Northern Trust, resulting in a pre-tax gain on sale of USD 153 million. Also in 2017, UBS AG completed the sale of a life insurance subsidiary within Global Wealth Management. A loss on sale of USD 24 million was recognized in 2016 relating to this transaction. |
Operating leases and finance le
Operating leases and finance leases | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Leases And Finance Leases [Line Items] | |
Disclosure Of Leases Explanatory | Note 33 Operating leases and finance leases Information on lease contracts classified as operating leases where UBS is the lessee is provided in Note 33 a and information on finance leases where UBS acts as a lessor is provided in Note 33 b . a) Operating lease commitments As of 31 De cember 2018, UBS was obligated under a number of non-cancelable operating leases for premises and equipment used primarily for banking purposes. The significant premises leases usually include renewal options and escalation clauses in line with general off ice rental market conditions, as well as rent adjustments based on price indices. However, the lease agreements do not contain contingent rent payment clauses and purchase options, nor do they impose any restrictions on UBS’s ability to pay dividends, enga ge in debt financing transactions or enter into further lease agreements. Refer to Note 1 d for more information on the expected effects of adoption of IFRS 16, Leases , effective 1 January 2019 USD million 31.12.18 Expenses for operating leases to be recognized in: 2019 684 2020 647 2021 543 2022 489 2023 449 2024 and thereafter 1,877 Subtotal commitments for minimum payments under operating leases 4,688 Less: Sublease rental income commitments 250 Net commitments for minimum payments under operating leases 4,438 USD million 31.12.18 31.12.17 31.12.16 Gross operating lease expense recognized in the income statement 766 739 757 Sublease rental income 52 68 79 Net operating lease expense recognized in the income statement 714 671 678 b) Finance lease receivables UBS leases a variety of assets to third parties under finance leases, such as commercial vehicles, production lines, medical equipment, construction equipment and aircraft. At the end of the respective lease term, assets may be sold to third parties or further leased. Lessees may participate in any sales proceeds achieved. Lease expenses cover the cost of the assets less their residual value as well as financing cos ts. As of 31 December 2018, unguaranteed residual values of USD 156 million had been accrued, and the ECL stage 3 allowance for uncollectible minimum lease payments receivable amounted to USD 7 million . No contingent rents were received in 2018. Amounts in the table below are disclosed on a gross basis. The finance lease receivable in Note 17a of USD 1,091 million is presented net of expected credit loss allowances. Lease receivables USD million 31.12.18 Total minimum lease payments Unearned finance income Present value 2019 359 22 337 2020–2023 703 35 669 Thereafter 103 2 102 Total 1,166 58 1,107 |
UBS AG | |
Disclosure Of Operating Leases And Finance Leases [Line Items] | |
Disclosure Of Leases Explanatory | Note 33 Operating leases and finance leases Information on lease contracts classified as operating leases where UBS AG is the lessee is provided in Note 33 a and information on finance leases where UBS AG acts as a lessor is provided in Note 33 b . a) Operating lease commitments As of 31 December 2018, UBS AG was obligated under a number of non-cancelable operating leases for premises and equipment used primarily for banking purposes. The significant premises leases usually include renewal options and escalation clauses in line with general office rental market conditions, as well as rent adjustments based on price indices. However, the lease agreements do not contain contingent rent payment clauses and purchase options, nor do they impose any restrictions on UBS AG’s ability to pay dividends, engage in debt financing transactions or enter into further lease agreements. Refer to Note 1 d for more information on the expected effects of adoption of IFRS 16, Leases , effective 1 January 2019 USD million 31.12.18 Expenses for operating leases to be recognized in: 2019 658 2020 622 2021 528 2022 474 2023 434 2024 and thereafter 1,830 Subtotal commitments for minimum payments under operating leases 4,546 Less: Sublease rental income commitments 250 Net commitments for minimum payments under operating leases 4,296 USD million 31.12.18 31.12.17 31.12.16 Gross operating lease expense recognized in the income statement 663 697 745 Sublease rental income 52 68 79 Net operating lease expense recognized in the income statement 611 629 666 b) Finance lease receivables UBS AG leases a variety of assets to third parties under finance leases, such as commercial vehicles, production lines, medical equipment, construction equipment a nd aircraft. At the end of the respective lease term, assets may be sold to third parties or further leased. Lessees may participate in any sales proceeds achieved. Lease expenses cover the cost of the assets less their residual value as well as financing costs. As of 31 December 2018, unguaranteed residual values of USD 156 million had been accrued, and the ECL stage 3 allowance for uncollectible minimum lease payments receivable amounted to USD 7 million . No contingent rents were received in 2018. Amount s in the table below are disclosed on a gross basis. The finance lease receivable in Note 17a of USD 1,091 million is presented net of expected credit loss allowances. Lease receivables USD million 31.12.18 Total minimum lease payments Unearned finance income Present value 2019 359 22 337 2020–2023 703 35 669 Thereafter 103 2 102 Total 1,166 58 1,107 |
Guarantees, commitments and for
Guarantees, commitments and forward starting transactions | 12 Months Ended |
Dec. 31, 2018 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 34 Guarantees, commitments and forward starting transactions The table below shows the maximum irrevocable amount of guarantees, commitments and forward starting transactions. USD million 31.12.18 31.12.17 Gross Sub- partici- pations Net Gross Sub- partici- pations Net Measured at fair value Not measured at fair value Measured at fair value Not measured at fair value Total guarantees 1,639 18,146 (2,803) 16,982 1,662 17,680 (2,942) 16,400 Loan commitments 3,535 31,212 (647) 34,099 7,954 32,125 (1,102) 38,977 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 13,011 Securities borrowing agreements 12 24 Repurchase agreements 7,926 400 8,399 1 Cash to be paid in the future by either UBS or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
UBS AG [Member] | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
UBS AG [Member] | Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 34 Guarantees, commitments and forward starting transactions The table below shows the maximum irrevocable amount of guarantees, commitments and forward starting transactions. USD million 31.12.18 31.12.17 Gross Sub- partici- pations Net Gross Sub- partici- pations Net Measured at fair value Not measured at fair value Measured at fair value Not measured at fair value Total guarantees 1,639 18,146 (2,803) 16,982 1,662 17,680 (2,942) 16,400 Loan commitments 3,535 31,212 (647) 34,099 7,954 32,125 (1,102) 38,977 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 13,011 Securities borrowing agreements 12 24 Repurchase agreements 7,926 400 8,399 1 Cash to be paid in the future by either UBS AG or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Related Parties [Line Items] | |
Disclosure Of Related Party Explanatory | Note 35 Related parties UBS defines related parties as associates (entities that are significantly in fluenced by UBS), joint ventures (entities in which UBS shares control with another party), post-employment benefit plans for UBS employees, key management personnel, close family members of key management personnel and entities that are, directly or indir ectly, controlled or jointly controlled by key management personnel or their close family members. Key management personnel is defined as members of the Board of Directors (BoD) and Group Executive Board (GEB). a) Remuneratio n of key management personnel The Chairman of the BoD has a specific management employment contract and receives pension benefits upon retirement. Total remuneration of the Chairman of the Board of Directors and all GEB members is included in the table below . Remuneration of key management personnel USD million, except where indicated 31.12.18 31.12.17 31.12.16 Base salaries and other cash payments 1 27 25 25 Incentive awards – cash 2 15 15 11 Annual incentive award under DCCP 22 22 22 Employer’s contributions to retirement benefit plans 3 3 3 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 40 40 42 Total 109 106 105 Total (CHF million) 4 107 106 104 1 Includes role-based allowances in line with market practice in response to regulatory requirements. 2 The cash portion may also include blocked shares in line with regulatory requirements. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period of generally 5 years. Refer to Note 30 for more information. In 2018, 2017 and 2016, equity-based compensation was entirely comprised of EOP awards. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2018: CHF / USD 0.98; 2017: CHF / USD 1.00; 2016: CHF / USD 0.99). The independent members of the BoD do not have em ployment or service contracts with UBS, and thus are not entitled to benefits upon termination of their service on the BoD. Payments to these individuals for their services as externa l board members amounted to USD 7.6 million (CHF 7.4 milli on) in 2018, USD 7. 1 million (C HF 7.1 million) in 2017 and USD 7. 2 million (CHF 7.2 million) in 2016. b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.18 31.12.17 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 0 398,867 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 5,954,967 3,709,539 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, 95,597 shares were held by close family members of key management personnel on 31 December 2018 and 31 December 2017. N o shares were held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members on 31 December 2018 and 31 December 2017. Refer to Note 30 for more information. As of 3 1 December 2018, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. c) Loans, advances and mortgages to key manag ement personnel The non-independent member s of the BoD and GEB members are granted loans, fixed advances and mortgages in the ordinary course of business on substantially the same terms and conditions that are available to ot her employees, including interest rates and collateral, and neither involve more than the normal risk of collectibility nor contain any other unfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of business at general market conditions. Movements in the loan, advances and mortgage balances are as follows. Loans, advances and mortgages to key management personnel 1 USD million, except where indicated 2018 2017 Balance at the beginning of the year 42 42 Additions 15 2 Reductions (22) (1) Balance at the end of the year 2 34 42 Balance at the end of the year (CHF million) 2, 3 34 41 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two GEB members and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. 3 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the relevant year-end closing exchange rate. d) Other related- party transactions with entities controlled by key management p ersonnel In 2018 and 2017 , UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 20 18, 31 December 2017 and 31 December 2016, th ere were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. e) Transactions with associates and joint ventures Loans to and outstanding receivables from associates and joint ventures USD million 2018 2017 Carrying value at the beginning of the year 565 464 Additions 276 83 Reductions (13) (3) Foreign currency translation 0 21 Carrying value at the end of the year 829 565 of which: unsecured loans 818 554 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.18 31.12.17 Payments to associates and joint ventures for goods and services received 177 180 Fees received for services provided to associates and joint ventures 4 2 Commitments and contingent liabilities to associates and joint ventures 4 4 Refer to Note 31 for an overview of investments in associates and joint ventures |
UBS AG | |
Disclosure Related Parties [Line Items] | |
Disclosure Of Related Party Explanatory | Note 35 Related parties UBS AG defines related parties as associates (entities that are significantly in fluenced by UBS), joint ventures (entities in which UBS shares control with another party), post-employment benefit plans for UBS AG employees, key management personnel, close family members of key management personnel and entities that are, directly or in directly, controlled or jointly controlled by key management personnel or their close family members. Key management personnel is defined as members of the Board of Directors (BoD) and Executive Board (EB). a) Remuneration of key management personnel The Chairman of the BoD has a specific management employment contract and receives pension benefits upon retirement. Total remuneration of the Chairman of the Board of Directors and all EB members is incl uded in the table below . Remuneration of key management personnel USD million, except where indicated 31.12.18 31.12.17 31.12.16 Base salaries and other cash payments 1 25 24 24 Incentive awards – cash 2 14 13 10 Annual incentive award under DCCP 21 20 20 Employer’s contributions to retirement benefit plans 3 3 2 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 38 36 39 Total 102 98 98 Total (CHF million) 4 100 98 97 1 Includes role-based allowances in line with market practice in response to regulatory requirements. 2 The cash portion may also include blocked shares in line with regulatory requirements. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period of generally 5 years. Refer to Note 30 for more information. In 2018, 2017 and 2016, equity-based compensation was entirely comprised of EOP awards. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2018: CHF / USD 0.98; 2017: CHF / USD 1.00; 2016: CHF / USD 0.99). The independent members of the BoD do not have em ployment or service contracts with UBS AG , and thus are not entitled to benefits upon termination of their service on the BoD. Payments to these individuals for their services as external board members amounted to USD 7.6 million (CHF 7.4 mi llion) in 2018, USD 7. 1 million (CHF 7.1 million) in 2017 and USD 7. 2 million (CHF 7.2 million) in 2016. b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.18 31.12.17 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 0 398,867 Number of shares held by members of the BoD, EB and parties closely linked to them 2 5,676,989 3,709,539 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, 95,597 shares were held by close family members of key management personnel on 31 December 2018 and 31 December 2017 . No shares were held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members on 31 December 2018 and 31 December 2017. Refer to Note 30 for more informat ion. As of 31 December 2018, no member of the BoD or EB was the beneficial owner of more than 1% of UBS Group AG’s shares. c) Loans, advances and mortgages to key management personnel The non-independent member s of the BoD and EB members are granted loans, fixed advances and mortgages in the ordinary course of business on substantially the same terms and conditions that are available to other employees, including interest rates and collateral, and neither involve more than the normal risk of collectibility nor contain any other u nfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of business at general market conditions. Movements in the loan, advances and mortgage balances are as follows. Loans, advances and mortgages to key management personnel 1 USD million, except where indicated 2018 2017 Balance at the beginning of the year 34 34 Additions 15 2 Reductions (22) (1) Balance at the end of the year 2 28 35 Balance at the end of the year (CHF million) 2, 3 27 34 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two EB and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. 3 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the relevant year-end closing exchange rate. d) Other related- party transactions with entities controlled by key management p ersonnel In 2018 and 2017 , UBS AG did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS AG ’s key mana gement personnel or their close family members and as of 31 Decem ber 2018, 31 December 2017 and 31 December 2016, th ere were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS AG , and t herefore did not receive any fees from UBS AG . UBS AG also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. e) Transactions with associates and joint ventures Loans to and outstanding receivables from associates and joint ventures USD million 2018 2017 Carrying value at the beginning of the year 565 464 Additions 276 83 Reductions (13) (3) Foreign currency translation 0 21 Carrying value at the end of the year 829 565 of which: unsecured loans 818 554 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.18 31.12.17 Payments to associates and joint ventures for goods and services received 177 180 Fees received for services provided to associates and joint ventures 4 2 Commitments and contingent liabilities to associates and joint ventures 4 4 Refer to Note 31 for an overview of investments in associates and joint ventures f) Receivables and payables from / to UBS Group AG and other subsidiaries of UBS Group AG USD million 31.12.18 31.12.17 Receivables Loans and advances to customers 1,161 2,208 Financial assets at fair value held for trading 139 101 Other financial assets measured at amortized cost 105 116 Payables Customer deposits 2,152 3,489 Funding from UBS Group AG and its subsidiaries 41,202 35,648 Other financial liabilities measured at amortized cost 1,711 1,587 |
Invested assets and net new mon
Invested assets and net new money | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Invested Assets And Net New Money [Line Items] | |
Disclosure Of InvestedAssets And Net New Money Explanatory | Note 36 Invested assets and net new money Invested assets Invested assets include all client assets managed by or deposited with UBS for investment purposes. Invested assets include managed fund assets, managed institutional assets, discretionary and advisory wealth management portfolios, fiduciary deposits, time deposits, savings accounts and wealth management securities or broker age accounts. All assets held for purely transactional purposes and custody-only assets, including corporate client assets held for cash management and transactional purposes, are excluded from invested assets as the Group only administers the assets and d oes not offer advice on how the assets should be invested. Also excluded are non-bankable assets (e.g., art collections) and deposits from third-party banks for funding or trading purposes. Discretionary assets are defined as client assets that UBS decides how to invest. Other invested assets are those where the client ultimately decides how the assets are invested. When a single product is created in one business division and sold in another, it is counted in both the business division that manages the inv estment and the one that distributes it. This results in double counting within UBS total invested assets, as both business divisions are independently providing a service to their respective clients, and both add value and generate revenue. Net new money Net new money in a reporting period is the amount of invested assets that are entrusted to UBS by new and existing clients, less those withdrawn by existing clients and clients who terminated their relationship with UBS. Net new money is calculated using the direct method, under which inflows and outflows to / from invested assets are determined at the client level based on transactions. Interest and dividend income from invested assets are not counted as net new money inflows. Market and currency movement s as well as fees, commissions and interest on loans charged are excluded from net new money, as are the effects resulting from any acquisition or divestment of a UBS subsidiary or business. Reclassifications between invested assets and custody-only assets as a result of a change in the service level delivered are generally treated as net new money flows; however, where such change in service level directly results from a new externally imposed regulation, the one-time net effect of the implementation is re ported as an asset reclassification without net new money impact. The Investment Bank does not track invested assets and net new money. However, when a client is transferred from the Investment Bank to another business division, this produces net new money even though client assets were already with UBS. There were no such transfers between the Investment Bank and other business divisions in 2018 and 2017. Invested assets and net new money As of or for the year ended USD billion 31.12.18 31.12.17 Fund assets managed by UBS 342 339 Discretionary assets 999 1,052 Other invested assets 1,760 1,871 Total invested assets 1 3,101 3,262 of which: double counts 213 209 Net new money 1 59 106 1 Includes double counts. Development of invested assets USD billion 2018 2017 Total invested assets at the beginning of the year 1 3,262 2,761 Net new money 59 106 Market movements 2 (180) 322 Foreign currency translation (35) 77 Other effects (5) (3) of which: acquisitions / (divestments) 7 4 Total invested assets at the end of the year 1 3,101 3,262 1 Includes double counts. 2 Includes interest and dividend income. |
UBS AG | |
Disclosure Invested Assets And Net New Money [Line Items] | |
Disclosure Of InvestedAssets And Net New Money Explanatory | Note 36 Invested assets and net new money Invested assets Invested assets include all client assets managed by or deposited with UBS AG for investment purposes. Invested assets include managed fund assets, managed institutional assets, discretionary and advisory wealth management portfolios, fiduciary deposits, time deposits, savings accounts and wealth management securities o r brokerage accounts. All assets held for purely transactional purposes and custody-only assets, including corporate client assets held for cash management and transactional purposes, are excluded from invested assets as UBS AG only administers the assets and does not offer advice on how the assets should be invested. Also excluded are non-bankable assets (e.g., art collections) and deposits from third-party banks for funding or trading purposes. Discretionary assets are defined as client assets that UBS AG decides how to invest. Other invested assets are those where the client ultimately decides how the assets are invested. When a single product is created in one business division and sold in another, it is counted in both the business division that manages the investment and the one that distributes it. This results in double counting within UBS AG total invested assets, as both business divisions are independently providing a service to their respective clients, and both add value and generate revenue. Ne t new money Net new money in a reporting period is the amount of invested assets that are entrusted to UBS AG by new and existing clients, less those withdrawn by existing clients and clients who terminated their relationship with UBS AG. Net new money is calculated using the direct method, under which inflows and outflows to / from invested assets are determined at the client level based on transactions. Interest and dividend income from invested assets are not counted as net new money inflows. Market and currency movements as well as fees, commissions and interest on loans charged are excluded from net new money, as are the effects resulting from any acquisition or divestment of a UBS AG subsidiary or business. Reclassifications between invested assets and custody-only assets as a result of a change in the service level delivered are generally treated as net new money flows; however, where such change in service level directly results from a new externally imposed regulation, the one-time net effect of the implementation is reported as an asset reclassification without net new money impact. The Investment Bank does not track invested assets and net new money. However, when a client is transferred from the Investment Bank to another business division, this pr oduces net new money even though client assets were already with UBS AG. There were no such transfers between the Investment Bank and other business divisions in 2018 and 2017. Invested assets and net new money As of or for the year ended USD billion 31.12.18 31.12.17 Fund assets managed by UBS 342 339 Discretionary assets 999 1,052 Other invested assets 1,760 1,871 Total invested assets 1 3,101 3,262 of which: double counts 213 209 Net new money 1 59 106 1 Includes double counts. Development of invested assets USD billion 2018 2017 Total invested assets at the beginning of the year 1 3,262 2,761 Net new money 59 106 Market movements 2 (180) 322 Foreign currency translation (35) 77 Other effects (5) (3) of which: acquisitions / (divestments) 7 4 Total invested assets at the end of the year 1 3,101 3,262 1 Includes double counts. 2 Includes interest and dividend income. |
Currency translation rates
Currency translation rates | 12 Months Ended |
Dec. 31, 2018 | |
Foreign Exchange Rates [Line Items] | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory | Note 37 Currency translation rates The following table shows the rates of the main currencies used to translate the financial information of UBS’s operations with a functional currency other than the US dollar into US dollars . Closing exchange rate Average rate 1 As of For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.16 1 CHF 1.02 1.03 1.02 1.02 1.01 1 EUR 1.15 1.20 1.18 1.14 1.10 1 GBP 1.28 1.35 1.33 1.30 1.34 100 JPY 0.91 0.89 0.91 0.89 0.92 1 Monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollars. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
UBS AG | |
Foreign Exchange Rates [Line Items] | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory | Note 37 Currency translation rates The following table shows the rates of the main currencies used to translate the financial information of UBS AG ’s operations with a functional currency other than the US dollar into US dollars. Closing exchange rate Average rate 1 As of For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.16 1 CHF 1.02 1.03 1.02 1.02 1.01 1 EUR 1.15 1.20 1.18 1.14 1.10 1 GBP 1.28 1.35 1.33 1.30 1.34 100 JPY 0.91 0.89 0.91 0.89 0.92 1 Monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollars. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all operations of UBS AG with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for UBS AG. |
Events after the reporting peri
Events after the reporting period | 12 Months Ended |
Dec. 31, 2018 | |
Events After The Reporting Period [Line Items] | |
Disclosure Of Events After Reporting Period Explanatory | Note 38 Events after the reporting period E vents subsequent to the publication of t he unaudited fourth quarter 2018 report The 2018 results and the balance sheet as of 31 December 2018 differ from those presented in the unaudited fourth quarter 2018 report published on 22 January 2019 as a result of events adjusted for after the balance sheet date. Provisions for litigation, regulatory and similar matters increased, which reduced 2018 operating profit before tax and 2018 net profit attributable to shareholders each by USD 382 million. As a result , basic earnings per share decreased by USD 0.10 and diluted earnings per share decreased by USD 0.09. Refer to Note 21 for more information on provisions for litigation, regulatory and similar matters |
UBS AG | |
Events After The Reporting Period [Line Items] | |
Disclosure Of Events After Reporting Period Explanatory | Note 38 Events after the reporting period E vents subsequent to the publication of the unaudited fourth quarter 2018 report The 2018 results and the balance sheet as of 31 December 2018 differ from those presented in the unaudited fourth quarter 2018 report published on 22 January 2019 as a result of events adjusted for after the balance sheet date. Provisions for litigation, regulator y and similar matters increased, which reduced 2018 operating profit before tax and 2018 net profit attributable to shareholders each by USD 382 million. Refer to Note 21 for more information on p rovisions for litigation, regulatory and similar matters |
Main differences between IFRS a
Main differences between IFRS and Swiss GAAP | 12 Months Ended |
Dec. 31, 2018 | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Disclosure of main differences between IFRS and Swiss GAAP [text block] | Note 39 Main differences between IFRS and Swiss GAAP The consolidated financial statements of UBS Group AG are prepared in accordance with I nternational Financial Reporting Standards (IFRS). The Swiss Financial Market Supervisory Authority (FINMA) requires financial groups that present their financial statements under IFRS to provide a narrative explanation of the main differences between IFRS and Swiss GAAP (FINMA Circular 2015 / 1 and the Banking Ordinance). Included in this Note are the significant differences in the recognition and measurement between IFRS and the provisions of the Banking Ordinance and the guidelines of FINMA governing tru e and fair view financial statement reporting pursuant to article 25 through article 42 of the Banking Ordinance. 1. Consolidation Under IFRS, all entities that are controlled by the holding entity are consolidated. Under Swiss GAAP, controlled entities th at are deemed immaterial to the Group or that are held temporarily only are exempt from consolidation, but instead are recorded as participations accounted for under the equity method of accounting or as financial investments measured at the lower of cost or market value. 2. Classification and measurement of f inancial assets Under IFRS, financial assets are classified as measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL) . Whereas a ll equity instruments are accounted for at FVTPL by UBS, the classification and measurement of debt instruments depends on the nature of the business model within which the asset is held and the characteristics of the contractual cash flows of the asset. U nder Swiss GAAP, debt instruments are generally measured at amortized cost. The classification and measurement of financial assets in the form of securities depend on the nature of the asset : d ebt instruments that are not held to maturity (available for sa le) , as well as e quity instruments with no permanent holding intent, are classified as Financial investments and measured at the lower of (amortized) cost or market value. Market value adjustments up to the original cost amount and realized gains or losses upon disposal of the investment are recorded in the income statement as Other income from ordinary activities. Equity instruments with a permanent holding intent are classified as participations in Non-consolidated investments in subsidiaries and other pa rticipations and measured at cost less impairment. Impairment losses are recorded in the income statement as Impairment of investments in non-consolidated subsidiaries and other participations. Reversals of impairments up to the original cost amount as we ll as realized gains or losses upon disposal of the investment are recorded as Extraordinary income / Extraordinary expenses in the income statement. 3 . Fair value option applied to financial liabilities Under IFRS, UBS applies the fair value option to certain financial liabilities not held for trading. Instruments for which the fair value option is applied are accounted for at FVTPL. The amount of change in the fair value that is attributable to changes in UBS’s own credit is presented in Other comprehensive income directly within Retained ear nings . The fair value option is applied primarily to issued structured debt instrum ents ; certain non-structured debt instruments ; certain payables under repurchase agreements and cash collateral on securities lending agreements ; amounts due under unit-linked investment contracts; brokerage payables; and certain loan commitments. Under Sw iss GAAP, the fair value option can only be applied to structured debt instruments that consist of a debt host contract and one or more embedded derivatives that do not relate to own equity. Furthermore, unrealized changes in fair valu e attributable to changes in UBS’s own credit are not recognized , whereas realized own credit is recognized in Net trading income . 4 . Allowances and provisions for credit losses Under IFRS, allowances and provisions for credit losses are estimated based on an expected credit loss model. Expected credit losses (ECL) are recognized for financial assets measured at amortized cost, financial assets measured at FVOCI, fee and lease receivables, fi nancial guarantees, loan commitments and certain other credit facilities. Maximum 12-month ECL are recognized from initial recognition of instruments in stage 1. Lifetime ECL are recognized for instruments in stage 2 if a significant increase in credit ris k is detected subsequent to the instrument’s initial recognition. Lifetime ECL are also recognized for credit-impaired financial instruments, referred to as instruments in stage 3. Determination of whether an instrument is credit impaired is based on the o ccurrence of one or more loss events. Under Swiss GAAP, a claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss ev ent has an effect on future cash flows that can be reliably estimated (incurred loss approach). UBS considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms as a result of credit deteri oration of the issuer or counterparty. Impairment under the incurred loss approach is in line with ECL for credit-impaired claims in stage 3 under IFRS. A claim can be a loan or receivable or other debt instrument held to maturity carried at amortized cost , a debt instrument available for sale carried at the lower of amortized cost or market value, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset. For an off-balance sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss (expense) / recovery . 5 . Hedge accountin g Under IFRS, when cash flow hedge accounting is applied, the fair value gain or loss on the effective portion of the derivative designated as a cash flow hedge is recognized in equity. When fair value hedge accounting is applied, the fair value gains or l osses of the derivative and the hedged item are recognized in the income statement. Under Swiss GAAP, the effective portion of the fair value change of the derivative instrument designated as a cash flow or as fair value hedge is deferred on the balance sh eet as Other assets or Other liabilities . The carrying value of the hedged item designated in fair value hedges is not adjusted for fair value changes attributable to the hedged risk. 6 . Goodwill and intangible assets Under IFRS, goodwill acquired in a bus iness combination is not amortized but tested annually for impairment. Intangible assets with an indefinite useful life are also not amortized but tested annually for impairment. Under Swiss GAAP, goodwill and intangible assets with indefinite useful lives are amortized over a period not exceeding five years, unless a longer useful life, which may not exceed 10 years, can be justified. In addition, these assets are tested annually for impairment. 7 . Pension and other post-employment benefit plans Swiss GAAP permits the use of IFRS or Swiss accounting standards for pension and other post-employment benefit plans , with the election made on a plan-by-plan basis. UBS has elected to apply IFRS (IAS 19) for the non-Swiss defined benefit plans in UBS AG standalone financial statements and Swiss GAAP (FER 16) for the Swiss pension plan in the UBS AG and the UBS Switzerl and AG standalone financial statements. The requirements of Swiss GAAP are better aligned with the specific nature of Swiss pension plans, which are hybrid in that they combine elements of defined contribution and defined benefit plans, but are treated as defined benefit plans under IFRS. Key differences between Swiss GAAP and IFRS include the treatment of dynamic elements, such as future salary increases and future interest credits on retirement savings, which are not considered under the static method use d in accordance with Swiss GAAP. Also, the discount rate used to determine the defined benefit obligation in accordance with IFRS is based on the yield of high-quality corporate bonds of the market in the respective pension plan country. The discount rate used in accordance with Swiss GAAP ( i.e., the technical interest rate ) is determined by the Pension Foundation Board based on the expected returns of the Board’s investment strategy. For defined benefit plans, IFRS requires the full defined benefit obligat ion net of the plan assets to be recorded on the balance sheet, with changes resulting from remeasurements recognized directly in equity. However, for non-Swiss defined benefit plans for which IFRS accounting is elected, changes due to remeasurements are r ecognized in the income statement of UBS AG standalone under Swiss GAAP. Swiss GAAP requires that employer contributions to the pension fund are recognized as personnel expenses in the income statement. Further, Swiss GAAP requires an assessment as to whet her, based on the financial statements of the pension fund prepared in accordance with Swiss accounting standards (FER 26), an economic benefit to, or obligation of, the employer arises from the pension fund which is recognized in the balance sheet when cond itions are met. Conditions for recording a pension asset or liability would be met if, for example, an employer contribution reserve is available or the employer is required to contribute to the reduction of a pension deficit (on an FER 26 basis). 8 . Netting of replacement values Under IFRS, replacement values and related cash collateral are reported on a gross basis unless the restrictive IFRS netting requirements are met: i) existence of master netting agreements and related collateral arrangements t hat are unconditional and legally enforceable, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS and its counterparties ; and ii) UBS’s intention to either settle on a net basis or to realize the asset and se ttle the liability simultaneously. Under Swiss GAAP, replacement values and related cash collateral are generally reported on a net basis, provided the master netting and the related collateral agreements are legally enforceable in the event of default, ba nkruptcy or insolvency of UBS’s counterparties. 9 . Negative interest Under IFRS, negative interest income arising on a financial asset does not meet the definition of interest income and, therefore, negative interest on financial assets and negative intere st on financial liabilities are presented within interest expense and interest income, respectively. Under Swiss GAAP, negative interest on financial assets is presented within interest income and negative interest on financial liabilities is presented wit hin interest expense. 10 . Extraordinary income and expense Certain non-recurring and non-operating income and expense items, such as realized gains or losses from the disposal of participations, fixed and intangible assets, as well as reversals of impairme nts of participations and fixed assets, are classified as extraordinary items under Swiss GAAP. This distinction is not available under IFRS. |
UBS AG | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Disclosure of main differences between IFRS and Swiss GAAP [text block] | Note 39 Main differences between IFRS and Swiss GAAP The consolidated financial statements of UBS AG are prepared in accordance with International Financial Reporting Standards (IFRS). The Swiss Financial Market Supervisory Authority (FINMA) requires financial groups that present their financial statements under IFRS to provide a narrative explanation of the main differences between IF RS and Swiss GAAP (FINMA Circular 2015 / 1 and the Banking Ordinance). Included in this Note are the significant differences in the recognition and measurement between IFRS and the provisions of the Banking Ordinance and the guidelines of FINMA governing t rue and fair view financial statement reporting pursuant to article 25 through article 42 of the Banking Ordinance. 1. Consolidation Under IFRS, all entities that are controlled by the holding entity are consolidated. Under Swiss GAAP, controlled entities that are deemed immaterial to UBS AG or that are held temporarily only are exempt from consolidation, but instead are recorded as participations accounted for under the equity method of accounting or as financial investments measured at the lower of cost o r market value. 2. Classification and measurement of f inancial assets Under IFRS, financial assets are classified as measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL) . Whereas all equity instruments are accounted for at FVTPL by UBS AG, the classification and measurement of debt instruments depends on the nature of the business model within which the asset is held and the characteristics of the contractual cash flows of the asset. Under Swiss GAAP, debt instruments are generally measured at amortized cost. The classification and measurement of financial assets in the form of securities depend on the nature of the asset : d ebt instruments that are not held to maturity (available for s ale) , as well as e quity instruments with no permanent holding intent, are classified as Financial investments and measured at the lower of (amortized) cost or market value. Market value adjustments up to the original cost amount and realized gains or losse s upon disposal of the investment are recorded in the income statement as Other income from ordinary activities. Equity instruments with a permanent holding intent are classified as participations in Non-consolidated investments in subsidiaries and other p articipations and measured at cost less impairment. Impairment losses are recorded in the income statement as Impairment of investments in non-consolidated subsidiaries and other participations. Reversals of impairments up to the original cost amount as well as realized gains or losses upon disposal of the investment are recorded as Extraordinary income / Extraordinary expenses in the income statement. 3 . Fair value option applied to financial liabilities Under IFRS, UBS AG applies the fair value option to certain financial liabilities not held for trading. Instruments for which the fair value option is applied are accounted for at FVTPL. The amount of change in the fair value that is attributable to changes in UBS AG’s own credit is presented in Other comprehensive income directly within Retained ear nings . The fair value option is applied primarily to issued structured debt instruments ; certain non-structured debt instruments ; certain payables under repurchase agreements and cash collateral on securities lending agreements ; amounts due under unit-linked investment contracts; brokerage payables; and certain loan commitments. Under Swiss GAAP, the fair value option can only be applied to structured debt instruments that consist of a debt host contract and one or more embedded derivatives that do not relate to own equity. Furthermore, unrealized changes in fair value attributable to changes in UBS AG’s own credit are not recognized , whereas realized own credit is recognized in Ne t trading income . 4 . Allowances and provisions for credit losses Under IFRS, allowances and provisions for credit losses are estimated based on an expected credit loss model. E xpected credit losses (E CL ) are recognized for financial assets measured at amor tized cost, financial assets measured at FVOCI, fee and lease receivables, financial guarantees, loan commitments and certain other credit facilities. Maximum 12-month ECL are recognized from initial recognition of instruments in stage 1. Lifetime ECL are recognized for instruments in stage 2 if a significant increase in credit risk is detected subsequent to the instrument’s initial recognition. Lifetime ECL are also recognized for credit-impaired financial instruments, referred to as instruments in stage 3 . Determination of whether an instrument is credit impaired is based on the occurrence of one or more loss events. Under Swiss GAAP, a claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss event has an effect on future cash flows that can be reliably estimated (incurred loss approach). UBS AG considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms as a result of credit deterioration of the issuer or counterparty. Impairmen t under the incurred loss approach is in line with ECL for credit-impaired claims in stage 3 under IFRS. A claim can be a loan or receivable or other debt instrument held to maturity carried at amortized cost, a debt instrument available for sale carried a t the lower of amortized cost or market value, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset. For an off-balance sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss (expense) / recovery . 5 . Hedge accounting Under IFRS, when cash flow hedge accounting is applied, the fair value gain or loss on the effective portion of the derivative designated as a cash flow hedge is recognized in equity. When fair value hedge accounting is applied, the fair value gains or losses of the derivative and the hedged item are recognized in the income statement. Under Swiss GAAP, the effective portion of the fair value change of the derivative instrument designated as a cash flow or as fair value hedge is deferred on the balance sheet as Other assets or Other liabilities . The ca rrying value of the hedged item designated in fair value hedges is not adjusted for fair value changes attributable to the hedged risk. 6 . Goodwill and intangible assets Under IFRS, goodwill acquired in a business combination is not amortized but tested an nually for impairment. Intangible assets with an indefinite useful life are also not amortized but tested annually for impairment. Under Swiss GAAP, goodwill and intangible assets with indefinite useful lives are amortized over a period not exceeding five years, unless a longer useful life, which may not exceed 10 years, can be justified. In addition, these assets are tested annually for impairment. 7 . Pension and other post-employment benefit plans Swiss GAAP permits the use of IFRS or Swiss accounting standards for pension and other post-employment benefit plans, with the election made on a plan-by-plan basis. UBS AG has elected to apply IFRS (IAS 19) for the non-Swiss defined benefit plans and Swiss GAAP (FER 16) for the Swiss pension plan in its stand alone financial statements. The requirements of Swiss GAAP are better aligned with the specific nature of Swiss pension plans, which are hybrid in that they combine elements of defined contribution and defined benefit plans, but are treated as defined bene fit plans under IFRS. Key differences between Swiss GAAP and IFRS include the treatment of dynamic elements, such as future salary increases and future interest credits on retirement savings, which are not considered under the static method used in accorda nce with Swiss GAAP. Also, the discount rate used to determine the defined benefit obligation in accordance with IFRS is based on the yield of high-quality corporate bonds of the market in the respective pension plan country. The discount rate used in acco rdance with Swiss GAAP ( i.e., the technical interest rate ) is determined by the Pension Foundation Board based on the expected returns of the Board’s investment strategy. For defined benefit plans, IFRS requires the full defined benefit obligation net of t he plan assets to be recorded on the balance sheet, with changes resulting from remeasurements recognized directly in equity. However, for non-Swiss defined benefit plans for which IFRS accounting is elected, changes due to remeasurements are recognized in the income statement of UBS AG standalone under Swiss GAAP. Swiss GAAP requires that employer contributions to the pension fund are recognized as personnel expenses in the income statement. Further, Swiss GAAP requires an assessment as to whether, based o n the financial statements of the pension fund prepared in accordance with Swiss accounting standards (FER 26), an economic benefit to, or obligation of, the employer arises from the pension fund which is recognized in the balance sheet when conditions are m et. Conditions for recording a pension asset or liability would be met if, for example, an employer contribution reserve is available or the employer is required to contribute to the reduction of a pension deficit (on an FER 26 basis). 8 . Netting of replacement values Under IFRS, replacement values and related cash collateral are reported on a gross basis unless the restrictive IFRS netting requirements are met: i) existence of master netting agreements and related collateral arrangements that are unconditional and lega lly enforceable, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS AG and its counterparties ; and ii) UBS AG ’s intention to either settle on a net basis or to realize the asset and settle the liability simul taneously. Under Swiss GAAP, replacement values and related cash collateral are generally reported on a net basis, provided the master netting and the related collateral agreements are legally enforceable in the event of default, bankruptcy or insolvency o f UBS AG ’s counterparties. 9 . Negative interest Under IFRS, negative interest income arising on a financial asset does not meet the definition of interest income and, therefore, negative interest on financial assets and negative interest on financial liab ilities are presented within interest expense and interest income, respectively. Under Swiss GAAP, negative interest on financial assets is presented within interest income and negative interest on financial liabilities is presented within interest expense . 10 . Extraordinary income and expense Certain non-recurring and non-operating income and expense items, such as realized gains or losses from the disposal of participations, fixed and intangible assets, as well as reversals of impairments of participation s and fixed assets, are classified as extraordinary items under Swiss GAAP. This distinction is not available under IFRS. |
Supplemental guarantor informat
Supplemental guarantor information required under SEC regulations | 12 Months Ended |
Dec. 31, 2018 | |
UBS AG | |
Supplemental Guarantor Information [Line Items] | |
Condensed Financial Information Of Parent Company Only Disclosure [Text Block] | Note 40 Supplemental guarantor information required under SEC regulations Joint liability of UBS Switzerland AG In 2015, the Personal & Corporate Banking and Wealth Management businesses booked in Switzerland were transferred from UBS AG to UBS Switzerland AG through an asset transfer in accordance with the Swiss Merger Act. Under the terms of the asset transfer agreement, UBS Switzerland AG assumed joint l iability for contractual obligations of UBS AG existing on the asset transfer date, including the full and unconditional guarantee of certain registered debt securities issued by UBS AG. To reflect this joint liability, UBS Switzerland AG is presented in a separate column as a subsidiary co-guarantor. The joint liability of UBS Switzerland AG for contractual obligations of UBS AG decreased by USD 45 billion in 2018 to USD 26 billion as of 31 December 2018 , mainly as the joint liability related to demand obl igations booked in foreign branches expired three years after the effective date of the asset transfer. Guarantee of PaineWebber securities Prior to its acquisition by UBS in 2000, Paine Webber Group Inc. (PaineWebber) was an SEC registrant. Upon acquisiti on, PaineWebber was merged into UBS Americas Inc., a wholly owned subsidiary of UBS AG. Following the acquisition, UBS AG entered into a full and unconditional guarantee of the senior notes (Debt Securities) issued by PaineWebber. Under the guarantee, if U BS Americas Inc. failed to make any timely payment under the Debt Securities agreements, the holders of the Debt Securities or the Debt Securities trustee could have demanded payment from UBS AG without first proceeding against UBS Americas Inc. These Debt S ecurities matured in May 2018 and the guarantee ceased to exist. UBS Americas Inc. is therefore no longer presented in a separate column in the tables on the following pages. Adoption of IFRS 9 Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments . The adoption of IFRS 9 has resulted in changes to the classification and measurement of certain financial instruments, which have been applied prospectively in the balance sheet from 1 January 2018. Although the effect of IFRS 9 classification and measurement changes has been applied prospectively, UBS AG has made a series of changes to the presentation of its IFRS balance sheet to facilitate comparability and prior-period information is presented for periods ending before 1 January 2018 in thi s revised structure. Refer to “Note 1c Changes in accounting policies and comparability and transition effects from the adoption of IFRS 9 Financial Instruments ” in the “ Consolidated financial statements ” section of this report for more information Transf er of shared services functions to Group service companies Amounts presented in the following pages for UBS AG standalone for the years ended 31 December 2017 and 2016 include the results of shared services functions in Switzerland, the UK and the US, whic h were substantially transferred to Group service companies during 2017. Following the transfer, these Group service companies charge other legal entities within the Group for services provided, including a markup on costs incurred. Refer to the 2017 stand alone financial statements of UBS AG, available under “Holding company and significant regulated subsidiaries and sub-groups” at www.ubs.com/investors for more information on the transfer of shared services functions in 2017 Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2018 Operating income Interest income 10,259 4,266 5,533 (2,963) 17,095 Interest expense (9,924) (901) (3,323) 3,001 (11,147) Net interest income 336 3,365 2,210 38 5,949 Other net income from fair value changes on financial instruments 4,372 887 828 (110) 5,977 Credit loss (expense) / recovery (37) (52) (9) (19) (117) Fee and commission income 2,655 4,474 13,159 (656) 19,632 Fee and commission expense (851) (391) (1,109) 648 (1,703) Net fee and commission income 1,804 4,083 12,050 (8) 17,930 Other income 4,722 198 2,110 (6,125) 905 Total operating income 11,196 8,480 17,189 (6,223) 30,642 Operating expenses Personnel expenses 3,592 1,890 8,510 0 13,992 General and administrative expenses 4,691 3,471 5,403 (3,490) 10,075 Depreciation and impairment of property, equipment and software 715 21 316 0 1,052 Amortization and impairment of intangible assets 3 0 62 0 65 Total operating expenses 9,001 5,382 14,291 (3,490) 25,184 Operating profit / (loss) before tax 2,195 3,098 2,898 (2,733) 5,458 Tax expense / (benefit) 25 670 577 73 1,345 Net profit / (loss) 2,170 2,428 2,321 (2,806) 4,113 Net profit / (loss) attributable to non-controlling interests 0 0 7 0 7 Net profit / (loss) attributable to shareholders 2,170 2,428 2,314 (2,806) 4,107 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2018 Comprehensive income attributable to shareholders Net profit / (loss) 2,170 2,428 2,314 (2,806) 4,107 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (369) (109) 215 (252) (515) Financial assets measured at fair value through other comprehensive income, net of tax 0 0 (45) 0 (45) Cash flow hedges, net of tax (277) 2 19 (13) (269) Total other comprehensive income that may be reclassified to the income statement, net of tax (646) (107) 189 (265) (829) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 89 (126) 212 0 175 Own credit on financial liabilities designated at fair value, net of tax 509 509 Total other comprehensive income that will not be reclassified to the income statement, net of tax 598 (126) 212 0 684 Total other comprehensive income (48) (233) 401 (265) (145) Total comprehensive income attributable to shareholders 2,122 2,195 2,715 (3,071) 3,961 Total comprehensive income attributable to non-controlling interests 5 5 Total comprehensive income 2,122 2,195 2,721 (3,071) 3,967 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated balance sheet USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 Dec 2018 Assets Cash and balances at central banks 36,350 53,490 18,530 0 108,370 Loans and advances to banks 34,063 7,405 21,151 (45,978) 16,642 Receivables from securities financing transactions 70,028 28,637 51,617 (54,932) 95,349 Cash collateral receivables on derivative instruments 23,136 559 12,148 (12,240) 23,603 Loans and advances to customers 93,141 188,013 62,166 (21,838) 321,482 Other financial assets measured at amortized cost 4,696 8,564 11,247 (1,869) 22,637 Total financial assets measured at amortized cost 261,415 286,667 176,858 (136,857) 588,084 Financial assets at fair value held for trading 92,784 62 15,578 (3,911) 104,513 of which: assets pledged as collateral that may be sold or repledged by counterparties 49,509 0 7,326 (24,714) 32,121 Derivative financial instruments 119,590 3,834 38,760 (35,972) 126,212 Brokerage receivables 11,063 5,779 (2) 16,840 Financial assets at fair value not held for trading 50,592 7,177 41,184 (16,566) 82,387 Total financial assets measured at fair value through profit or loss 274,030 11,073 101,300 (56,451) 329,953 Financial assets measured at fair value through other comprehensive income 171 0 6,495 0 6,667 Investments in subsidiaries and associates 50,971 20 31 (49,922) 1,099 Property, equipment and software 6,546 242 1,714 (24) 8,479 Goodwill and intangible assets 308 6,395 (56) 6,647 Deferred tax assets 533 198 9,282 52 10,066 Other non-financial assets 4,623 1,659 766 14 7,062 Total assets 598,598 299,860 302,842 (243,244) 958,055 Liabilities Amounts due to banks 36,430 24,774 44,377 (94,618) 10,962 Payables from securities financing transactions 36,840 1,167 27,297 (55,008) 10,296 Cash collateral payables on derivative instruments 28,096 35 12,894 (12,118) 28,906 Customer deposits 77,180 245,452 82,360 16,994 421,986 Funding from UBS Group AG and its subsidiaries 41,202 41,202 Debt issued measured at amortized cost 82,653 8,578 587 (573) 91,245 Other financial liabilities measured at amortized cost 4,170 1,454 3,790 (1,838) 7,576 Total financial liabilities measured at amortized cost 306,571 281,460 171,305 (147,161) 612,174 Financial liabilities at fair value held for trading 23,455 493 8,829 (3,828) 28,949 Derivative financial instruments 119,131 3,510 39,107 (36,025) 125,723 Brokerage payables designated at fair value 26,559 11,875 (14) 38,420 Debt issued designated at fair value 55,378 1,670 (17) 57,031 Other financial liabilities designated at fair value 10,936 28,618 (5,959) 33,594 Total financial liabilities measured at fair value through profit or loss 235,458 4,004 90,098 (45,843) 283,717 Provisions 1,361 163 1,850 83 3,457 Other non-financial liabilities 1,676 929 3,623 47 6,275 Total liabilities 545,067 286,556 266,876 (192,875) 905,624 Equity attributable to shareholders 53,531 13,304 35,790 (50,369) 52,256 Equity attributable to non-controlling interests 176 176 Total equity 53,531 13,304 35,966 (50,369) 52,432 Total liabilities and equity 598,598 299,860 302,842 (243,244) 958,055 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of cash flows USD million UBS AG 2 UBS Switzerland AG 2 Other subsidiaries 2 UBS AG (consolidated) For the year ended 31 December 2018 1 Net cash flow from / (used in) operating activities (652) 14,887 13,509 27,744 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (124) (5) (158) (287) Disposal of subsidiaries, associates and intangible assets 3 97 0 40 137 Purchase of property, equipment and software (822) (170) (481) (1,473) Disposal of property, equipment and software 111 0 3 114 Purchase of financial assets measured at fair value through other comprehensive income (170) 0 (1,829) (1,999) Disposal and redemption of financial assets measured at fair value through other comprehensive income 20 15 1,325 1,361 Net (purchase) / redemption of debt securities measured at amortized cost (1,000) 2,111 (4,881) (3,770) Net cash flow from / (used in) investing activities (1,888) 1,951 (5,982) (5,918) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (12,295) (3) 53 (12,245) Distributions paid on UBS AG shares (3,098) 0 0 (3,098) Issuance of long-term debt, including debt issued designated at fair value 53,294 872 560 54,726 Repayment of long-term debt, including debt issued designated at fair value (42,759) (812) (772) (44,344) Funding from UBS Group AG and its subsidiaries 5,956 5,956 Net changes in non-controlling interests 0 0 (31) (31) Net activity related to group internal capital transactions and dividends 3,000 (2,372) (628) 0 Net cash flow from / (used in) financing activities 4,098 (2,315) (820) 963 Total cash flow Cash and cash equivalents at the beginning of the year 41,570 40,961 22,256 104,787 Net cash flow from / (used in) operating, investing and financing activities 1,559 14,523 6,707 22,789 Effects of exchange rate differences on cash and cash equivalents (234) (726) (762) (1,722) Cash and cash equivalents at the end of the year 4 42,895 54,757 28,201 125,853 of which: cash and balances at central banks 36,248 53,490 18,530 108,268 of which: loans and advances to banks 4,849 1,249 9,354 15,452 of which: money market paper 5 1,798 18 318 2,133 1 Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information. 2 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 3 Includes dividends received from associates. 4 USD 5,245 million of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Operating income Interest income 8,806 4,065 3,959 (2,338) 14,492 Interest expense (7,259) (680) (2,192) 2,245 (7,886) Net interest income 1,547 3,385 1,767 (93) 6,607 Other net income from fair value changes on financial instruments 3,397 918 688 64 5,067 Credit loss (expense) / recovery (139) (23) (9) 40 (131) Fee and commission income 2,561 4,424 13,315 (911) 19,390 Fee and commission expense (968) (380) (1,357) 865 (1,840) Net fee and commission income 1,594 4,045 11,958 (46) 17,550 Other income 4,382 170 3,017 (6,616) 952 Total operating income 10,780 8,495 17,420 (6,651) 30,044 Operating expenses Personnel expenses 4,488 2,060 8,403 0 14,952 General and administrative expenses 4,922 3,400 5,760 (5,081) 9,001 Depreciation and impairment of property, equipment and software 664 11 270 0 945 Amortization and impairment of intangible assets 8 0 63 0 71 Total operating expenses 10,082 5,472 14,496 (5,081) 24,969 Operating profit / (loss) before tax 698 3,023 2,924 (1,570) 5,076 Tax expense / (benefit) 458 628 3,156 0 4,242 Net profit / (loss) 240 2,395 (232) (1,570) 834 Net profit / (loss) attributable to preferred noteholders 73 0 0 0 73 Net profit / (loss) attributable to non-controlling interests 0 0 4 0 4 Net profit / (loss) attributable to shareholders 168 2,395 (236) (1,569) 758 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Comprehensive income attributable to shareholders Net profit / (loss) 168 2,395 (236) (1,569) 758 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax 2,177 500 (2,473) 1,318 1,522 Financial assets measured at fair value through other comprehensive income, net of tax (10) 2 11 (93) (91) Cash flow hedges, net of tax (474) (162) (1) 2 (635) Total other comprehensive income that may be reclassified to the income statement, net of tax 1,693 340 (2,463) 1,226 797 Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 284 (22) 27 26 314 Own credit on financial liabilities designated at fair value, net of tax (317) (317) Total other comprehensive income that will not be reclassified to the income statement, net of tax (33) (22) 27 26 (3) Total other comprehensive income 1,660 318 (2,436) 1,252 794 Total comprehensive income attributable to shareholders 1,828 2,713 (2,672) (317) 1,552 Total comprehensive income attributable to preferred noteholders 320 320 Total comprehensive income attributable to non-controlling interests 6 6 Total comprehensive income 2,148 2,713 (2,665) (317) 1,878 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated balance sheet USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 Dec 2017 Assets Cash and balances at central banks 37,497 39,461 13,086 0 90,045 Loans and advances to banks 31,254 4,080 73,206 (94,494) 14,047 Receivables from securities financing transactions 62,783 35,731 58,481 (65,043) 91,951 Cash collateral receivables on derivative instruments 22,924 714 13,292 (12,890) 24,040 Loans and advances to customers 109,196 188,038 77,781 (46,064) 328,952 Other financial assets measured at amortized cost 17,460 10,610 13,197 (3,376) 37,890 Total financial assets measured at amortized cost 281,115 278,634 249,044 (221,868) 586,925 Financial assets at fair value held for trading 103,799 94 33,540 (7,923) 129,509 of which: assets pledged as collateral that may be sold or repledged by counterparties 60,038 0 9,966 (33,727) 36,277 Derivative financial instruments 116,993 4,229 34,947 (34,883) 121,286 Financial assets at fair value not held for trading 34,982 13,098 14,535 (2,546) 60,070 Total financial assets measured at fair value through profit or loss 255,775 17,421 83,021 (45,352) 310,865 Financial assets measured at fair value through other comprehensive income 3,698 810 7,608 (3,226) 8,889 Investments in subsidiaries and associates 50,915 16 29 (49,916) 1,045 Property, equipment and software 6,550 94 1,548 0 8,191 Goodwill and intangible assets 302 0 6,320 (59) 6,563 Deferred tax assets 1,285 432 8,276 0 9,993 Other non-financial assets 5,179 1,758 711 (101) 7,548 Total assets 604,818 299,166 356,559 (320,522) 940,020 Liabilities Amounts due to banks 24,991 21,264 56,499 (95,027) 7,728 Payables from securities financing transactions 49,407 1,687 31,435 (65,043) 17,485 Cash collateral payables on derivative instruments 28,486 62 15,371 (12,890) 31,029 Customer deposits 86,105 247,554 137,590 (48,192) 423,058 Funding from UBS Group AG and its subsidiaries 35,648 35,648 Debt issued measured at amortized cost 99,069 8,583 535 (730) 107,458 Other financial liabilities measured at amortized cost 29,178 1,453 10,850 (3,388) 38,092 Total financial liabilities measured at amortized cost 352,885 280,604 252,280 (225,270) 660,498 Financial liabilities at fair value held for trading 24,988 257 13,336 (7,329) 31,251 Derivative financial instruments 114,331 3,770 35,920 (34,883) 119,138 Debt issued designated at fair value 48,743 2,327 (288) 50,782 Other financial liabilities designated at fair value 6,173 13,015 (2,546) 16,643 Total financial liabilities measured at fair value through profit or loss 194,235 4,027 64,598 (45,046) 217,814 Provisions 1,084 149 1,930 0 3,164 Other non-financial liabilities 2,039 851 3,736 (128) 6,499 Total liabilities 550,243 285,631 322,544 (270,443) 887,974 Equity attributable to shareholders 54,574 13,536 33,956 (50,078) 51,987 Equity attributable to non-controlling interests 59 59 Total equity 54,574 13,536 34,015 (50,078) 52,046 Total liabilities and equity 604,818 299,166 356,559 (320,522) 940,020 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the “UBS AG standalone financial information” section of this report for UBS AG standalone financial information prepared in accordance with Swiss GAAP. Refer to “Holding company and significant regulated subsidiaries and sub-groups” at www.ubs.com/investors for UBS Switzerland AG standalone interim financial statements prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of cash flows USD million UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2017 Net cash flow from / (used in) operating activities (35,057) (8,742) (9,348) (53,147) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (2) (104) (106) Disposal of subsidiaries, associates and intangible assets 2 291 0 48 339 Purchase of property, equipment and software (1,054) (86) (393) (1,532) Disposal of property, equipment and software 1 0 209 210 Purchase of financial assets measured at fair value through other comprehensive income (234) 0 (8,393) (8,626) Disposal and redemption of financial assets measured at fair value through other comprehensive income 3,489 1,580 10,181 15,250 Net (purchase) / redemption of financial assets held to maturity (455) 364 0 (91) Net cash flow from / (used in) investing activities 2,039 1,856 1,548 5,444 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 24,556 (5) (50) 24,500 Distributions paid on UBS AG shares (2,219) 0 0 (2,219) Issuance of long-term debt, including debt issued designated at fair value 39,232 631 409 40,270 Repayment of long-term debt, including debt issued designated at fair value (43,605) (589) (993) (45,187) Funding from UBS Group AG and its subsidiaries 11,180 11,180 Dividends paid and repayments of preferred notes (782) 0 0 (782) Net changes in non-controlling interests 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 1,264 (194) (1,071) 0 Net cash flow from / (used in) financing activities 29,625 (158) (1,710) 27,758 Total cash flow Cash and cash equivalents at the beginning of the year 43,495 45,815 29,674 118,984 Net cash flow from / (used in) operating, investing and financing activities (3,393) (7,043) (9,510) (19,944) Effects of exchange rate differences on cash and cash equivalents 1,466 2,189 2,094 5,749 Cash and cash equivalents at the end of the year 3 41,570 40,961 22,256 104,787 of which: cash and balances at central banks 37,420 39,461 13,086 89,968 of which: loans and advances to banks 2,344 1,492 8,890 12,726 of which: money market paper 4 1,806 7 280 2,093 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 2 Includes dividends received from associates. 3 USD 2,497 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Operating income Interest income 8,605 4,207 3,229 (2,086) 13,954 Interest expense (6,778) (724) (1,895) 1,900 (7,497) Net interest income 1,827 3,483 1,334 (187) 6,457 Other net income from fair value changes on financial instruments 3,774 790 777 (323) 5,018 Credit loss (expense) / recovery (25) (3) (10) 0 (38) Fee and commission income 2,356 4,192 12,681 (804) 18,425 Fee and commission expense (839) (363) (1,342) 763 (1,781) Net fee and commission income 1,517 3,828 11,339 (41) 16,644 Other income 8,305 352 1,917 (9,825) 749 Total operating income 15,399 8,450 15,357 (10,375) 28,831 Operating expenses Personnel expenses 5,761 2,070 7,952 0 15,782 General and administrative expenses 5,278 3,549 5,659 (6,710) 7,776 Depreciation and impairment of property, equipment and software 708 12 272 0 992 Amortization and impairment of intangible assets 22 0 70 0 93 Total operating expenses 11,769 5,631 13,953 (6,710) 24,643 Operating profit / (loss) before tax 3,630 2,819 1,404 (3,665) 4,188 Tax expense / (benefit) 917 597 (753) (7) 753 Net profit / (loss) 2,713 2,222 2,157 (3,658) 3,435 Net profit / (loss) attributable to preferred noteholders 80 0 0 0 80 Net profit / (loss) attributable to non-controlling interests 0 0 4 0 4 Net profit / (loss) attributable to shareholders 2,633 2,222 2,153 (3,658) 3,351 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Comprehensive income attributable to shareholders Net profit / (loss) 2,633 2,222 2,153 (3,658) 3,351 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (467) (228) 765 (474) (404) Financial assets measured at fair value through other comprehensive income, net of tax 0 (36) (25) 3 (58) Cash flow hedges, net of tax (815) 102 0 30 (684) Total other comprehensive income that may be reclassified to the income statement, net of tax (1,282) (163) 739 (441) (1,146) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (659) (49) (97) (25) (829) Own credit on financial liabilities designated at fair value, net of tax (130) (130) Total other comprehensive income that will not be reclassified to the income statement, net of tax (788) (49) (97) (25) (959) Total other comprehensive income (2,070) (211) 643 (467) (2,105) Total comprehensive income attributable to shareholders 563 2,011 2,796 (4,124) 1,246 Total comprehensive income attributable to preferred noteholders 59 59 Total comprehensive income attributable to non-controlling interests 3 3 Total comprehensive income 622 2,011 2,799 (4,124) 1,308 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of cash flows USD million UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2016 Net cash flow from / (used in) operating activities (28,636) (3,918) 13,383 (19,172) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (3) (24) (27) Disposal of subsidiaries, associates and intangible assets 2 94 0 0 95 Purchase of property, equipment and software (1,351) (16) (414) (1,782) Disposal of property, equipment and software 178 0 3 182 Purchase of financial assets measured at fair value through other comprehensive income (568) (988) (5,465) (7,022) Disposal and redemption of financial assets measured at fair value through other comprehensive income 25,034 22,136 7,263 54,433 Net (purchase) / redemption of financial assets held to maturity (518) (8,706) (9,224) Net cash flow from / (used in) investing activities 22,868 12,424 1,364 36,655 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 8,454 (7) (2,973) 5,474 Distributions paid on UBS AG shares (3,589) 0 0 (3,589) Issuance of long-term debt, including debt issued designated at fair value 17,991 742 1,053 19,786 Repayment of long-term debt, including debt issued designated at fair value (32,219) (677) (1,006) (33,902) Funding from UBS Group AG and its subsidiaries 13,917 13,917 Dividends paid and repayments of preferred notes (1,382) 0 0 (1,382) Net changes in non-controlling interests 0 0 (5) (5) Net activity related to group internal capital transactions and dividends (1,356) (2,019) 3,374 0 Net cash flow from / (used in) financing activities 1,817 (1,961) 444 299 Total cash flow Cash and cash equivalents at the beginning of the year 47,822 40,180 14,795 102,797 Net cash flow from / (used in) operating, investing and financing activities (3,951) 6,544 15,1 |
MD&A - Risk management and cont
MD&A - Risk management and control | 12 Months Ended |
Dec. 31, 2018 | |
MDA Risk Management And Control [Line Items] | |
Disclosure Of Financial Risk Management Explanatory | Audited | Credit risk: the risk of loss resulting from the failure of a client or counterparty to meet its contractual obligations toward UBS. This includes settlement risk and loan underwriting risk: Settlement risk: the risk of loss resulting from transactions that involve exchange of value (e.g., security versus cash) where we must deliver without first being able to determine with certainty that we will receive the countervalue Loan underwriting risk: the risk of loss arising during the holding period of financing transactions that are intended for further distribution p Audited | Market risk (traded and non-traded): the risk of loss resulting from adverse movements in market variables. Market variables include observable variables, such as interest rates, foreign exchange rates, equity prices, credit spreads and commodity (including precious metal) prices, and variables that may be unobservable or only indirectly observable, such as volatilities and correlations. Market risk includes issuer risk and investment risk: Issuer risk: the risk of loss from changes in fair value resulting from credit-related events affecting an issuer to which we are exposed through tradable securities or derivatives referencing the issuer Investment risk: issuer risk associated with positions held as financial investments p Audited | Liquidity risk: the risk of being unable to generate sufficient funds from assets to meet payment obligations when they fall due, including in times of stress p Audited | Funding risk : the risk of higher-than-expected funding costs due to wider-than-expected UBS credit spreads when existing funding positions mature and need to be rolled over or replaced by other, more expensive funding sources. If a shortage of available funding sources is expected in a stress event, funding risk also covers potential additional losses from forced asset sales p Audited | The Board of Directors (BoD) is responsible for determining the risk principles, risk appetite and related risk limits of the Group, including their allocation to the business divisions and Corporate Center units. The BoD is supported by the BoD Risk Committee, which monitors a nd oversees the Group’s risk profile and the implementation of the risk framework as approved by the BoD, and approves the Group’s risk appetite methodology. The Corporate Culture and Responsibility Committee supports the BoD in fulfilling its duty to safe guard and advance the Group’s reputation for responsible and sustainable conduct. It reviews and assesses stakeholder concerns and expectations pertaining to UBS’s societal performance and corporate culture , and recommends appropriate actions to the BoD. The Group Executive Board (GEB) has overall responsibility for establishing and implementing risk management and control in the Group. It manages the risk profile of the Group as a whole. The Group Chief Executive Officer (Group CEO) has responsibility and accountability for the management and performance of the Group, has risk authority over transactions, positions and exposures, and allocates risk limits approved by the BoD within the business divisions and Corporate Center units. The business division Presidents are accountable for the success, risks, results and value of their business division. This includes actively managing their risk exposures and balancing profit potential, risk, balance sheet and capital usage. The regional Presidents fa cilitate the implementation of UBS’s strategy in their region, and have the mandate to inform the GEB of any activities and issues that may give rise to actual or potentially material regulatory or reputational concerns. The Group Chief Risk Officer (Group CRO) is responsible for independent oversight of credit, market, country, liquidity, funding, cyber and information security risks as well as model and environmental and social risk . This includes establishing methodologies to measure and assess risk, set ting risk limits, and approving credit and market risk transactions and exposures. Risk Control is also the central function for model risk management for all models used in the firm. The risk control process is supported by a framework of policies and aut horities. Business division and regional Chief Risk Officers have delegated authority for their respective divisions and regions. Moreover, authorities are delegated to risk officers according to their expertise, experience and responsibilities. The Group Chief Compliance and Governance Officer is responsible for ensuring that all operational risks, including compliance and conduct risk , are identified, owned and managed in alignment with the firm’s risk appetite, supported by an effective control framework , including appropriate measuring and aggregating processes, as well as appropriate reporting. The Group Chief Financial Officer (Group CFO) is responsible for transparency in, appraisal of, and presentation of the financial performance of the Group and th e b usiness d ivisions, and for the Group ’ s financial reporting, forecasting, planning and controlling processes in line with regulatory and financial reporting requirements, corporate governance standards and global best practice to maintain high quality an d timeliness . Further responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including the management of funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel (Group GC) is resp onsible for managing and reporting all litigation matters and proceedings of the Group, and for reviewing incidents of materialized legal risk as well as areas of emerging legal risk. Group Internal Audit (GIA) independently assesses the adherence to our s trategy, the effectiveness of governance, risk management and control processes at Group, business division and regional levels, including compliance with legal, regulatory and statutory requirements, as well as with internal policies and contracts. The He ad GIA reports to the Chairman of the BoD and, in addition, GIA has a functional reporting line to the BoD Audit Committee. Some of the above roles and responsibilities are replicated for certain significant legal entities of the Group. The legal entity r isk o fficers are responsible for independent oversight and control of primary and consequential risks for certain significant legal entities of the Group as part of the legal entity control framework, which complements the G roup ’ s risk governance framework . Audited | We apply a variety of methodologies and measurements to quanti fy the risks of our portfolios and potential risk concentrations. Risks that are not fully reflected within standard measures are subject to additional controls, which may include preapproval of specific transactions and the application of specific restric tions. Models to quantify risk are generally developed by dedicated units within control functions and are subject to independent validation . |
UBS AG | |
MDA Risk Management And Control [Line Items] | |
Disclosure Of Financial Risk Management Explanatory | Audited | Credit risk: the risk of loss resulting from the failure of a client or counterparty to meet its contractual obligations toward UBS. This includes settlement risk and loan underwriting risk: Settlement risk: the risk of loss resulting from transactions that involve exchange of value (e.g., security versus cash) where we must deliver without first being able to determine with certainty that we will receive the countervalue Loan underwriting risk: the risk of loss arising during the holding period of financing transactions that are intended for further distribution p Audited | Market risk (traded and non-traded): the risk of loss resulting from adverse movements in market variables. Market variables include observable variables, such as interest rates, foreign exchange rates, equity prices, credit spreads and commodity (including precious metal) prices, and variables that may be unobservable or only indirectly observable, such as volatilities and correlations. Market risk includes issuer risk and investment risk: Issuer risk: the risk of loss from changes in fair value resulting from credit-related events affecting an issuer to which we are exposed through tradable securities or derivatives referencing the issuer Investment risk: issuer risk associated with positions held as financial investments p Audited | Liquidity risk: the risk of being unable to generate sufficient funds from assets to meet payment obligations when they fall due, including in times of stress p Audited | Funding risk : the risk of higher-than-expected funding costs due to wider-than-expected UBS credit spreads when existing funding positions mature and need to be rolled over or replaced by other, more expensive funding sources. If a shortage of available funding sources is expected in a stress event, funding risk also covers potential additional losses from forced asset sales p Audited | The Board of Directors (BoD) is responsible for determining the risk principles, risk appetite and related risk limits of the Group, including their allocation to the business divisions and Corporate Center units. The BoD is supported by the BoD Risk Committee, which monitors a nd oversees the Group’s risk profile and the implementation of the risk framework as approved by the BoD, and approves the Group’s risk appetite methodology. The Corporate Culture and Responsibility Committee supports the BoD in fulfilling its duty to safe guard and advance the Group’s reputation for responsible and sustainable conduct. It reviews and assesses stakeholder concerns and expectations pertaining to UBS’s societal performance and corporate culture , and recommends appropriate actions to the BoD. The Group Executive Board (GEB) has overall responsibility for establishing and implementing risk management and control in the Group. It manages the risk profile of the Group as a whole. The Group Chief Executive Officer (Group CEO) has responsibility and accountability for the management and performance of the Group, has risk authority over transactions, positions and exposures, and allocates risk limits approved by the BoD within the business divisions and Corporate Center units. The business division Presidents are accountable for the success, risks, results and value of their business division. This includes actively managing their risk exposures and balancing profit potential, risk, balance sheet and capital usage. The regional Presidents fa cilitate the implementation of UBS’s strategy in their region, and have the mandate to inform the GEB of any activities and issues that may give rise to actual or potentially material regulatory or reputational concerns. The Group Chief Risk Officer (Group CRO) is responsible for independent oversight of credit, market, country, liquidity, funding, cyber and information security risks as well as model and environmental and social risk . This includes establishing methodologies to measure and assess risk, set ting risk limits, and approving credit and market risk transactions and exposures. Risk Control is also the central function for model risk management for all models used in the firm. The risk control process is supported by a framework of policies and aut horities. Business division and regional Chief Risk Officers have delegated authority for their respective divisions and regions. Moreover, authorities are delegated to risk officers according to their expertise, experience and responsibilities. The Group Chief Compliance and Governance Officer is responsible for ensuring that all operational risks, including compliance and conduct risk , are identified, owned and managed in alignment with the firm’s risk appetite, supported by an effective control framework , including appropriate measuring and aggregating processes, as well as appropriate reporting. The Group Chief Financial Officer (Group CFO) is responsible for transparency in, appraisal of, and presentation of the financial performance of the Group and th e b usiness d ivisions, and for the Group ’ s financial reporting, forecasting, planning and controlling processes in line with regulatory and financial reporting requirements, corporate governance standards and global best practice to maintain high quality an d timeliness . Further responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including the management of funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel (Group GC) is resp onsible for managing and reporting all litigation matters and proceedings of the Group, and for reviewing incidents of materialized legal risk as well as areas of emerging legal risk. Group Internal Audit (GIA) independently assesses the adherence to our s trategy, the effectiveness of governance, risk management and control processes at Group, business division and regional levels, including compliance with legal, regulatory and statutory requirements, as well as with internal policies and contracts. The He ad GIA reports to the Chairman of the BoD and, in addition, GIA has a functional reporting line to the BoD Audit Committee. Some of the above roles and responsibilities are replicated for certain significant legal entities of the Group. The legal entity r isk o fficers are responsible for independent oversight and control of primary and consequential risks for certain significant legal entities of the Group as part of the legal entity control framework, which complements the G roup ’ s risk governance framework . Audited | We apply a variety of methodologies and measurements to quanti fy the risks of our portfolios and potential risk concentrations. Risks that are not fully reflected within standard measures are subject to additional controls, which may include preapproval of specific transactions and the application of specific restric tions. Models to quantify risk are generally developed by dedicated units within control functions and are subject to independent validation . |
MD&A - Risk management and co_2
MD&A - Risk management and control - Credit Risk | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Explanatory | Audited | Main sources of credit risk A substantial portion of our lending exposure arises from our Swiss domestic business, which offers corporate loans and mortgage loans secured mainly against residential properties and income-producing real estate, and therefore depends on the performance of the Swiss economy. Within the Investment Bank, our credit exposure arises mainly from lending, derivatives trading and securities financing and is predominantly investment grade. Lo an underwriting activity can be lower rated and gives rise to concentrated exposure of a temporary nature. Our wealth management businesses predominant ly conduct securities-based lending and mortgage lending. Credit risk within Non-core and Legacy Portfol io relates to derivative transactions, predominantly carried out on a cash-collateralized basis, and securitized positions. Audited | Overview of measurement, monitoring and management techniques Credit risk arising from transactions with individual coun terparties is measured based on our estimates of probability of default, exposure at default and loss given default. Limits are established for individual counterparties and groups of related counterparties covering banking and traded products as well as s ettlement amounts. Risk control authorities are approved by the Board of Directors and are delegated to the Group Chief Executive Officer, Group Chief Risk Officer and divisional Chief Risk Officers based on risk exposure amounts , internal credit rating an d potential loss . Limits apply not only to the current outstanding amount, but also to contingent commitments and the potential future exposure of traded products. For the Investment Bank, our monitoring, measurement and limit framework distinguishes betwe en exposures intended to be held to maturity (take-and-hold exposures) and those that are intended to be held for a short term, pending distribution or risk transfer (temporary exposures). We also use models to derive portfolio credit risk measures of expe cted loss, statistical loss and stress loss at the Group-wide and business division levels and establish portfolio limits at these levels. Credit risk concentrations can arise if clients are engaged in similar activities, are located in the same geographic al region or have comparable economic characteristics ; for example, if their ability to meet contractual obligations would be similarly affected by changes in economic, political or other conditions. To avoid credit risk concentrations, we establish limits and / or operational controls that constrain risk concentrations at portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | W e have developed tools and models in order to estimate future credit losses that may be implicit in our current portfolio. Exposures to individual counterparties are measured on the basis of three generally accepted parameters: probability of default (PD), loss given default (LGD) and exposure at default (EAD). For a given credit facility, the product of these three parameters results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key i nputs for the regulatory capital calculation under the advanced internal ratings-based (A-IRB) approach of the Basel III framework governing international convergence of capital measurement and standards . We also use models to derive the portfolio credit r isk measures of expected loss, statistical loss and stress loss. Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
Credit risk mitigation | Counterparty credit risk arising from traded products, which include over-the-counter (OTC) derivatives, exchange-traded derivatives (ETD) exposures and securities financing transactions (SFTs) originating in the Investment Bank, Corporate Center – Non-core and Legacy Portfolio and Corporate Center – Group ALM, is generally managed on a close-out basis. This takes into account the possible effect of market movements on the exposure and any associated collateral over the time it would take to close out our positions. In the Investment Bank, limits are applied to the potential future exposure per counterparty, with the size of the limit driven by the view of the creditworthiness of the counterparty as determined by Credit Risk Control. Limit frameworks are also applied to control overall exposure to specific classes or categories of collateral on a portfolio level. Such portfolio limits are monitored and reported to senior management. Trading in OTC derivatives is conducted through central counterparties (CCPs) where practicable. Where CCPs are not used, we have clearly defined policies and processes for trading on a bilateral basis. Trading is typically conducted under bilateral International Swaps and Derivatives Association (ISDA) or similar master netting agreements, which generally allow for the close-out and netting of transactions in the event of default subject to applicable law. For most major market participant counterparties, we employ two-way collateral agreements under which either party can be required to provide collateral in the form of cash or marketable securities when the exposure exceeds specified levels. This collateral typically consists of well-rated government debt or other collateral permitted by applicable regulations. For certain counterparties, initial margin is taken to cover some or all of the calculated close-out exposure. This is in addition to the variation margin taken to settle changes in the market value of transactions. Regulations governing the margining of uncleared OTC derivatives continue to evolve. These generally expand the scope of bilateral derivatives activity subject to margining. In addition, they will result in greater amounts of initial margin received from, and posted to, certain bilateral trading counterparties than had been required in the past. These changes should result in lower close-out risk over time. We actively manage the credit risk in our portfolios by taking collateral against exposures and by utilizing credit hedging. We use a scoring model as part of a standardized front-to-back process to support credit decisions for the origination or modification of Swiss mortgage loans. The two key factors within this model are an affordability calculation relative to gross income and the loan-to-value (LTV) ratio. The value assigned by UBS to each property is based on the lowest value determined from internally calculated valuations, the purchase price and, in some cases, an additional external valuation. We similarly apply underwriting guidelines for our Global Wealth Management Region Americas mortgage loan portfolio, taking into account affordability of the loans and sufficiency of collateral. The maximum LTV within the standard approval process for any type of mortgage is 80%. A stratification of LTVs exists for the various mortgage types, such as residential mortgage or investment property, based on associated risk factors, such as property types, loan size and loan purpose. Maximum LTVs go as low as 45%. Additionally, other credit risk metrics are applied, based upon property and borrower characteristics, such as debt-to-income ratios, FICO credit scores and required client reserves. A risk limit framework is applied to the Global Wealth Management Region Americas mortgage portfolio. Limits have been established to govern exposures within LTV categories, geographic concentrations, portfolio growth and high-risk mortgage segments such as interest-only loans. These limits are monitored by a specialized credit risk monitoring team and reported to senior management. Supplementing this limit framework is a real estate lending policy and procedures framework, established to govern the real estate lending activities. Quality assurance and quality control programs are in place to monitor compliance with mortgage underwriting and documentation requirements. Lombard loans are secured by a pledge of marketable securities, guarantees and other forms of collateral. Eligible financial securities primarily include transferable securities (such as bonds and equities) that are liquid and actively traded, and other transferable securities such as approved structured products for which regular prices are available and for which the issuer of the security provides a market. To a lesser degree, less liquid collateral is also financed. We apply discounts (haircuts) to reflect the collateral’s risk and to derive the lending value. Haircuts for marketable securities are calculated to cover the possible change in the market value over a given close-out period and confidence level. The haircut applied will vary, depending on the view of the counterparty’s creditworthiness. Less liquid or more volatile collateral will typically attract larger haircuts. For less liquid instruments, such as structured products, some bonds and products with long redemption periods, the assumed close-out period may be much longer than that for highly liquid instruments, or an assessment is made as to the expected recovery on the asset in the event of the counterparty’s default, resulting in a larger haircut. For cash, life insurance policies, guarantees and letters of credit, haircuts are determined on a product- or client-specific basis. We also consider concentration and correlation risks across collateral posted on a counterparty level as well as at a divisional level across counterparties. Additionally, we perform targeted Group-wide reviews of concentrations. A concentration of collateral in single securities, issuers or issuer groups, industry sectors, countries, regions or currencies may result in higher risk and reduced liquidity. In such cases, the lending value of the collateral, margin call and close-out levels are adjusted accordingly. We utilize single-name credit default swaps (CDSs), credit index CDSs, bespoke protection and other instruments to actively manage credit risk in the Investment Bank and Corporate Center – Non-core and Legacy Portfolio. This is aimed at reducing concentrations of risk from specific counterparties, sectors or portfolios and, in the case of counterparty credit risk, the profit or loss effect arising from changes in credit valuation adjustments (CVA). We maintain strict guidelines for taking credit hedges into account for credit risk mitigation purposes. For example, when monitoring exposures against counterparty limits, we do not usually apply certain credit risk mitigants such as proxy hedges (credit protection on a correlated but different name) or credit index CDSs to reduce counterparty exposures. Buying credit protection also creates credit exposure against the protection provider. We monitor and limit our exposures to credit protection providers and the effectiveness of credit hedges as part of our overall credit exposures to the relevant counterparties. Trading with such counterparties is typically collateralized. For credit protection purchased to hedge the lending portfolio, this includes monitoring mismatches between the maturity of the credit protection purchased and the maturity of the associated loan. Such mismatches result in basis risk and may reduce the effectiveness of the credit protection. Mismatches are routinely reported to credit officers and mitigating actions are taken when deemed necessary. |
Disclosure Of Financial Assets That Are Either Past Due Or Impaired Explanatory | Audited | In line with the regulatory definition, we report a claim as non-performing when (i) it is more than 90 days past due; (ii) it is subject to restructuring proceedings, where preferential conditions concerning interest rates, subordination, ten or etc. have been granted in order to avoid default of the counterparty (forbearance); or (iii) the counterparty is subject to bankruptcy / enforced liquidation proceedings in any form, even if there is sufficient collateral to cover the due payment. UBS applies a single definition of default for classifying assets and determining the PD of its obligors for risk modeling purposes. The definition of default is based on quantitative and qualitative criteria. A counterparty i s classified as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or more than 180 days for certain exposures in relation to loans to private and commercial clients in Personal & Corporate Bank ing, and to private clients of Global Wealth Management Region Switzerland. UBS does not consider the general 90-day presumption for default recognition appropriate for these latter portfolios based on an analysis of the cure rates, which demonstrated that strict application of the 90-day criterion would not accurately reflect the inherent credit risk. Counterparties are also classified as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced; obligations have been restruc tured on preferential terms (forbearance); or there is other evidence that payment obligations will not be fully met without recourse to collateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counter party is defaulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is identified as purchased or originated credit-impaired (P OCI). An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted counterparty. Once a financial asset is classified as defaulted / credit-impaired (exce pt POCI), it is reported as a stage 3 instrument and remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is general evidence of credit recovery. A three-month probation period is applied before a transfer back to stages 1 or 2 can be triggered. However, most instruments remain in stage 3 for a longer period. Audited | Under imminent payment default or where default has alrea dy occurred, we may grant concessions to borrowers in financial difficulties that we would otherwise not consider in the normal course of our business, such as preferential interest rates, extension of maturity, modifying the schedule of repayments, debt / equity swap, subordination, etc. When a forbearance measure takes place, each case is considered individually and the exposure is generally classified in default. Forbearance classification will remain, until the loan is collected or written off, non-pref erential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appetite. Contractual adjustments when there is no evidence of imminent payment def ault, or where changes to terms and conditions are within our usual risk appetite, are not considered to be forborne. |
UBS AG | |
Disclosure MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Explanatory | Audited | Main sources of credit risk A substantial portion of our lending exposure arises from our Swiss domestic business, which offers corporate loans and mortgage loans secured mainly against residential properties and income-producing real estate, and therefore depends on the performance of the Swiss economy. Within the Investment Bank, our credit exposure arises mainly from lending, derivatives trading and securities financing and is predominantly investment grade. Lo an underwriting activity can be lower rated and gives rise to concentrated exposure of a temporary nature. Our wealth management businesses predominant ly conduct securities-based lending and mortgage lending. Credit risk within Non-core and Legacy Portfol io relates to derivative transactions, predominantly carried out on a cash-collateralized basis, and securitized positions. Audited | Overview of measurement, monitoring and management techniques Credit risk arising from transactions with individual coun terparties is measured based on our estimates of probability of default, exposure at default and loss given default. Limits are established for individual counterparties and groups of related counterparties covering banking and traded products as well as s ettlement amounts. Risk control authorities are approved by the Board of Directors and are delegated to the Group Chief Executive Officer, Group Chief Risk Officer and divisional Chief Risk Officers based on risk exposure amounts , internal credit rating an d potential loss . Limits apply not only to the current outstanding amount, but also to contingent commitments and the potential future exposure of traded products. For the Investment Bank, our monitoring, measurement and limit framework distinguishes betwe en exposures intended to be held to maturity (take-and-hold exposures) and those that are intended to be held for a short term, pending distribution or risk transfer (temporary exposures). We also use models to derive portfolio credit risk measures of expe cted loss, statistical loss and stress loss at the Group-wide and business division levels and establish portfolio limits at these levels. Credit risk concentrations can arise if clients are engaged in similar activities, are located in the same geographic al region or have comparable economic characteristics ; for example, if their ability to meet contractual obligations would be similarly affected by changes in economic, political or other conditions. To avoid credit risk concentrations, we establish limits and / or operational controls that constrain risk concentrations at portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | W e have developed tools and models in order to estimate future credit losses that may be implicit in our current portfolio. Exposures to individual counterparties are measured on the basis of three generally accepted parameters: probability of default (PD), loss given default (LGD) and exposure at default (EAD). For a given credit facility, the product of these three parameters results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key i nputs for the regulatory capital calculation under the advanced internal ratings-based (A-IRB) approach of the Basel III framework governing international convergence of capital measurement and standards . We also use models to derive the portfolio credit r isk measures of expected loss, statistical loss and stress loss. Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
Credit risk mitigation | Counterparty credit risk arising from traded products, which include over-the-counter (OTC) derivatives, exchange-traded derivatives (ETD) exposures and securities financing transactions (SFTs) originating in the Investment Bank, Corporate Center – Non-core and Legacy Portfolio and Corporate Center – Group ALM, is generally managed on a close-out basis. This takes into account the possible effect of market movements on the exposure and any associated collateral over the time it would take to close out our positions. In the Investment Bank, limits are applied to the potential future exposure per counterparty, with the size of the limit driven by the view of the creditworthiness of the counterparty as determined by Credit Risk Control. Limit frameworks are also applied to control overall exposure to specific classes or categories of collateral on a portfolio level. Such portfolio limits are monitored and reported to senior management. Trading in OTC derivatives is conducted through central counterparties (CCPs) where practicable. Where CCPs are not used, we have clearly defined policies and processes for trading on a bilateral basis. Trading is typically conducted under bilateral International Swaps and Derivatives Association (ISDA) or similar master netting agreements, which generally allow for the close-out and netting of transactions in the event of default subject to applicable law. For most major market participant counterparties, we employ two-way collateral agreements under which either party can be required to provide collateral in the form of cash or marketable securities when the exposure exceeds specified levels. This collateral typically consists of well-rated government debt or other collateral permitted by applicable regulations. For certain counterparties, initial margin is taken to cover some or all of the calculated close-out exposure. This is in addition to the variation margin taken to settle changes in the market value of transactions. Regulations governing the margining of uncleared OTC derivatives continue to evolve. These generally expand the scope of bilateral derivatives activity subject to margining. In addition, they will result in greater amounts of initial margin received from, and posted to, certain bilateral trading counterparties than had been required in the past. These changes should result in lower close-out risk over time. We actively manage the credit risk in our portfolios by taking collateral against exposures and by utilizing credit hedging. We use a scoring model as part of a standardized front-to-back process to support credit decisions for the origination or modification of Swiss mortgage loans. The two key factors within this model are an affordability calculation relative to gross income and the loan-to-value (LTV) ratio. The value assigned by UBS to each property is based on the lowest value determined from internally calculated valuations, the purchase price and, in some cases, an additional external valuation. We similarly apply underwriting guidelines for our Global Wealth Management Region Americas mortgage loan portfolio, taking into account affordability of the loans and sufficiency of collateral. The maximum LTV within the standard approval process for any type of mortgage is 80%. A stratification of LTVs exists for the various mortgage types, such as residential mortgage or investment property, based on associated risk factors, such as property types, loan size and loan purpose. Maximum LTVs go as low as 45%. Additionally, other credit risk metrics are applied, based upon property and borrower characteristics, such as debt-to-income ratios, FICO credit scores and required client reserves. A risk limit framework is applied to the Global Wealth Management Region Americas mortgage portfolio. Limits have been established to govern exposures within LTV categories, geographic concentrations, portfolio growth and high-risk mortgage segments such as interest-only loans. These limits are monitored by a specialized credit risk monitoring team and reported to senior management. Supplementing this limit framework is a real estate lending policy and procedures framework, established to govern the real estate lending activities. Quality assurance and quality control programs are in place to monitor compliance with mortgage underwriting and documentation requirements. Lombard loans are secured by a pledge of marketable securities, guarantees and other forms of collateral. Eligible financial securities primarily include transferable securities (such as bonds and equities) that are liquid and actively traded, and other transferable securities such as approved structured products for which regular prices are available and for which the issuer of the security provides a market. To a lesser degree, less liquid collateral is also financed. We apply discounts (haircuts) to reflect the collateral’s risk and to derive the lending value. Haircuts for marketable securities are calculated to cover the possible change in the market value over a given close-out period and confidence level. The haircut applied will vary, depending on the view of the counterparty’s creditworthiness. Less liquid or more volatile collateral will typically attract larger haircuts. For less liquid instruments, such as structured products, some bonds and products with long redemption periods, the assumed close-out period may be much longer than that for highly liquid instruments, or an assessment is made as to the expected recovery on the asset in the event of the counterparty’s default, resulting in a larger haircut. For cash, life insurance policies, guarantees and letters of credit, haircuts are determined on a product- or client-specific basis. We also consider concentration and correlation risks across collateral posted on a counterparty level as well as at a divisional level across counterparties. Additionally, we perform targeted Group-wide reviews of concentrations. A concentration of collateral in single securities, issuers or issuer groups, industry sectors, countries, regions or currencies may result in higher risk and reduced liquidity. In such cases, the lending value of the collateral, margin call and close-out levels are adjusted accordingly. We utilize single-name credit default swaps (CDSs), credit index CDSs, bespoke protection and other instruments to actively manage credit risk in the Investment Bank and Corporate Center – Non-core and Legacy Portfolio. This is aimed at reducing concentrations of risk from specific counterparties, sectors or portfolios and, in the case of counterparty credit risk, the profit or loss effect arising from changes in credit valuation adjustments (CVA). We maintain strict guidelines for taking credit hedges into account for credit risk mitigation purposes. For example, when monitoring exposures against counterparty limits, we do not usually apply certain credit risk mitigants such as proxy hedges (credit protection on a correlated but different name) or credit index CDSs to reduce counterparty exposures. Buying credit protection also creates credit exposure against the protection provider. We monitor and limit our exposures to credit protection providers and the effectiveness of credit hedges as part of our overall credit exposures to the relevant counterparties. Trading with such counterparties is typically collateralized. For credit protection purchased to hedge the lending portfolio, this includes monitoring mismatches between the maturity of the credit protection purchased and the maturity of the associated loan. Such mismatches result in basis risk and may reduce the effectiveness of the credit protection. Mismatches are routinely reported to credit officers and mitigating actions are taken when deemed necessary. |
Disclosure Of Financial Assets That Are Either Past Due Or Impaired Explanatory | Audited | In line with the regulatory definition, we report a claim as non-performing when (i) it is more than 90 days past due; (ii) it is subject to restructuring proceedings, where preferential conditions concerning interest rates, subordination, ten or etc. have been granted in order to avoid default of the counterparty (forbearance); or (iii) the counterparty is subject to bankruptcy / enforced liquidation proceedings in any form, even if there is sufficient collateral to cover the due payment. UBS applies a single definition of default for classifying assets and determining the PD of its obligors for risk modeling purposes. The definition of default is based on quantitative and qualitative criteria. A counterparty i s classified as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or more than 180 days for certain exposures in relation to loans to private and commercial clients in Personal & Corporate Bank ing, and to private clients of Global Wealth Management Region Switzerland. UBS does not consider the general 90-day presumption for default recognition appropriate for these latter portfolios based on an analysis of the cure rates, which demonstrated that strict application of the 90-day criterion would not accurately reflect the inherent credit risk. Counterparties are also classified as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced; obligations have been restruc tured on preferential terms (forbearance); or there is other evidence that payment obligations will not be fully met without recourse to collateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counter party is defaulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is identified as purchased or originated credit-impaired (P OCI). An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted counterparty. Once a financial asset is classified as defaulted / credit-impaired (exce pt POCI), it is reported as a stage 3 instrument and remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is general evidence of credit recovery. A three-month probation period is applied before a transfer back to stages 1 or 2 can be triggered. However, most instruments remain in stage 3 for a longer period. Audited | Under imminent payment default or where default has alrea dy occurred, we may grant concessions to borrowers in financial difficulties that we would otherwise not consider in the normal course of our business, such as preferential interest rates, extension of maturity, modifying the schedule of repayments, debt / equity swap, subordination, etc. When a forbearance measure takes place, each case is considered individually and the exposure is generally classified in default. Forbearance classification will remain, until the loan is collected or written off, non-pref erential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appetite. Contractual adjustments when there is no evidence of imminent payment def ault, or where changes to terms and conditions are within our usual risk appetite, are not considered to be forborne. |
MD&A - Risk management and co_3
MD&A - Risk management and control - Market Risk | 12 Months Ended |
Dec. 31, 2018 | |
MDA Risk Management And Control Market Risk [Line Items] | |
Disclosure Of Market Risk Explanatory | Audited | Main sources of market risk Market risks arise from both our trading and non-trading business activities. Trading market risks arise mainly in connection with primary debt and equity underwriting, s ecurities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Corporate Center – Non-core and Legacy Portfolio and our municipal securities trading business within Global W ealth Management. Non-trading market risk arises predominantly in the form of interest rate and foreign exchange risks in connection with personal banking and lending in our wealth management businesses, our personal and corporate banking business in Switz erland and the Investment Bank’s lending business, in addition to treasury activities. Corporate Center – Asset and Liability Management (Group ALM) assumes market risks in the process of managing interest rate risk, structural foreign exchange risk and th e liquidity and funding profile (including high-quality liquid asset s ) of the Group. Equity and debt investments can also give rise to market risks, as can some aspects of our employee benefits, such as defined benefit pension schemes. Audited | Overview of measurement, monitoring and ma n agement techniques Market risk limits are set for the Group, the business divisions and Corporate Center units and at granular levels within the various business lines, reflecting the nature and magnitude of the market ri sks. Management VaR measures exposures under the market risk framework. This includes trading market risks and parts of non-trading market risks. Non-trading market risks not included in VaR are also covered in the risks controlled by Market & Treasury Ris k Control as set out further below. Our primary portfolio measures of market risk are liquidity-adjusted stress (LAS) loss and VaR. Both are common to all our business divisions and subject to limits that are approved by the Board of Directors (BoD). These measures are complemented by concentration and granular limits for general and specific market risk factors. Our trading businesses are subject to multiple market risk limits. These limits take into account the extent of market liquidity and volatility, a vailable operational capacity, valuation uncertainty and, for our single-name exposures, the credit quality of issuers. Trading market risks are managed on an integrated basis at a portfolio level. As risk factor sensitivities change due to new transaction s, transaction expiries or changes in market levels, risk factors are dynamically rehedged to remain within limits. Accordingly, in the trading portfolio, we do not generally seek to distinguish between specific positions and associated hedges. Issuer risk is controlled by limits applied at the business division level based on jump-to-zero measures, which estimate our maximum default exposure (the loss in the case of a default event assuming zero recovery). Non-trading foreign exchange risks are managed und er market risk limits, with the exception of Corporate Center – Group ALM’s management of consolidated capital activity. Our Market & Treasury Risk Control function applies a holistic risk framework, which sets the appetite for treasury-related risk-taking activities across the Group. A key element of the framework is an overarching economic value sensitivity limit, set by the BoD. This limit is linked to the level of Basel III common equity tier 1 (CET1) capital and takes into account risks arising from interest rates, foreign exchange and credit spreads. In addition, the sensitivity of net interest income to changes in interest rates is monitored against targets set by the Group Chief Executive Officer, in order to analyze the outlook and volatility of net interest income based on market-expected interest rates. Limits are also set by the BoD to balance the effect of foreign exchange mov ements on our CET1 capital and CET1 capital ratio. Non-trading interest rate and foreign exchange risks are included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Equity and debt investments are subj ect to a range of risk controls, including preapproval of new investments by business management and Risk Control and regular monitoring and reporting. They are also included in our Group-wide statistical and stress testing metrics, which flow into our ris k appetite framework. Audited | Interest rate risk in the banking book arises from balance sheet positions such as Loans , Financial assets at fair value not held for trading, Financial assets measured at amortized cost, Financial assets measured at fair value through other comprehensive income (OCI) , Customer deposits, Debt issued measured at amortized cost , and derivatives, including those used for cash flow hedge accounting purposes. These positions may affect OCI or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from client deposits and lending products in Global Wealth Management and Personal & Corporate Banking. For Global Wealth Management and Personal & Corporate Banking, the inherent interest rate risks are transferred either by means of back-to-back transactions or, in the case of products with no c ontractual maturity date or direct market-linked rate, by replicating portfolios from the originati ng business into Corporate Center – Group ALM, which manages the risks on an integrated basis, allowing for netting interest rate risks across different sour ces. Any residual interest rate risks in Global Wealth Management and Personal & Corporate Banking that are not transferred to Corporate Center – Group ALM are managed locally and are subject to independent monitoring and control by local risk control unit s as well as centrally by Market & Treasury Risk Control. To manage the interest rate risk centrally, Corporate Center – Group ALM uses derivative instruments, most of which are in designated hedge accounting relationships. A significant amount of interest rate risk also arises from Corporate Center – Group ALM financing and investing activities, such as the investment and refinancing of non-monetary corporate balance sheet items with indefinite maturities, including equity, goodwill and real estate. For th ese items, senior management has defined specific target durations as a basis for our funding and investment activities, as applicable. These targets are defined by replication portfolios, which establish rolling benchmarks to execute against. As of 31 De cember 2018, the target replication portfolios for equity, goodwill and real estate were defined as follows: in Swiss francs with an average duration of approximately three and a half years and fair value sensitivity of USD 4 million per basis point; in US dollars with an average duration of approximately four and a half years and a sensitivity of USD 13 million per basis point. Corporate Center – Group ALM also maintains a portfolio of debt investments as part of its management of the Group’s liquidity nee ds. Banking book interest rate exposure in the Investment Bank arises predominantly from the structured financing business within Corporate Client Solutions, where transactions are subject to approval on a case-by-case basis. Corporate Center – Non-core an d Legacy Portfolio assets, primarily debt securities classified as Financial assets at fair value not held for trading , also give rise to non-trading interest rate risk. |
Value-at-risk | Actual realized market risk losses may differ from those implied by our VaR for a variety of reasons. The VaR measure is calibrated to a specified level of confidence and may not indicate potential losses beyond this confidence level. The one-day time horizon used for VaR for internal management purposes, or 10-day in the case of the regulatory VaR measure, may not fully capture the market risk of positions that cannot be closed out or hedged within the specified period. In certain cases, VaR calculations approximate the effect of changes in risk factors on the values of positions and portfolios. This may happen because the number of risk factors included in the VaR model is necessarily limited. The effect of extreme market movements is subject to estimation errors, which may result from non-linear risk sensitivities, as well as the potential for actual volatility and correlation levels to differ from assumptions implicit in the VaR calculations. The use of a five-year window means that sudden increases in market volatility will tend not to increase VaR as quickly as the use of shorter historical observation periods, but the increase will affect our VaR for a longer period of time. Similarly, following a period of increased volatility, as markets stabilize, VaR predictions will remain more conservative for a period of time influenced by the length of the historical observation period. SVaR is subject to the same limitations as noted for VaR above, but the use of one-year data sets avoids the smoothing effect of the five-year data set used for VaR, and the absence of the five-year window provides for a longer history of potential loss events. Therefore, although the significant period of stress during the financial crisis of 2007–2009 is no longer contained in the historical five-year period used for management and regulatory VaR, SVaR will continue to use this data. This approach is intended to reduce the procyclicality of the regulatory capital requirements for market risks. We recognize that no single measure may encompass the entirety of risks associated with a position or portfolio. Consequently, we employ a suite of various metrics with both overlapping and complementary characteristics in order to create a holistic framework that seeks to ensure material completeness of risk identification and measurement. As a statistical aggregate risk measure, VaR supplements our liquidity-adjusted stress and comprehensive stress testing frameworks. We also have a framework to identify and quantify potential risks that are not fully captured by our VaR model. We refer to these risks as risks-not-in-VaR. This framework is used to underpin these potential risks with regulatory capital, calculated as a multiple of regulatory VaR and stressed VaR. |
Sensitivity Analysis For Each Type Of Market Risk | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.18 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 3 5 5 1 1 Max. 22 11 9 13 4 Average 8 8 7 3 2 31.12.18 5 7 5 6 2 Total management VaR, Group 5 26 12 12 Average (per business division and risk type) Global Wealth Management 0 2 1 1 0 1 2 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 25 11 10 8 6 6 3 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 6 4 6 0 4 1 1 0 CC – Non-core and Legacy Portfolio 2 3 2 2 1 2 1 0 0 Diversification effect 2,3 (7) (7) (1) (5) (4) (1) 0 For the year ended 31.12.17 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 5 1 0 Max. 15 12 8 5 7 Average 6 10 6 3 2 31.12.17 5 9 8 3 2 Total management VaR, Group 5 19 11 10 Average (per business division and risk type) Global Wealth Management 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 18 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 6 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. Audited | Interest rate risk in the banking book is not underpinned for capital purposes, but is subject to a regulatory threshold. As of 31 December 2018, the economic-value effect of an adverse parallel shift in interest rates of ±200 basis points on our banking book interest rate risk exposures was significantly below both the current threshold of 20% of eligible capital recommended by regulators and the new threshold of 15% of t ier 1 capital applicable as of 2019. The interest rate risk sensitivity figures prese nted in the “Interest rate sensitivity – banking book” table on the next page represent the effect of +1-, ±100- and ±200-basis-point parallel moves in yield curves on present values of future cash flows, irrespective of accounting treatment. In the prevai ling negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro and the Japanese yen, interest rates for Global Wealth Management and Personal & Corporate Banking client transactions are generally floored at 0 %. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. The sensitivit y of the banking book to rising rates was positive USD 1.0 million per basis point compared with approximately nil at prior year-end. This was mainly due to changes in the US dollar sensitivity . In the third quarter of 2018 , we implemented a transfer proce ss of the interest rate risk from Global Wealth Management Region Americas to Corporate Center – Group ALM , and adopted a replication model for the non-maturing deposits held in the US. This decreased the exposure to rising rates in Global Wealth Managemen t to negative USD 0.1 million per basis point from negative USD 1.8 million per basis point. The sensitivity of the banking book to rising rates includes the interest rate sensitivities arising from debt investments classified as Financial assets measured at fair value through OCI . The sensitivity of these positions to a 1-basis-point parallel increase in the yields of the respective instruments was approximately negative USD 2 million , unchanged from the prior year . The sensitivity of the banking book to rising interest rates also includes interest rate sensitivities arising from interest rate swaps designated in cash flow hedges. Fair value gains or losses associated with the effective portion of these hedges are recognized directly in other comprehensiv e income within equity. When the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from other comprehensive income (OCI) to profit or loss. These swaps are predominantly denominated in US dollars, euros and Swiss francs. A 1-basis-point parallel increase of underlying LIBOR curves would have decreased OCI by approximately USD 22 million, excluding adjustments for tax. Interest rate sensitivity – banking book 1 31.12.18 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (8.5) (8.5) 0.8 78.6 158.6 EUR (167.9) (141.3) 0.1 6.9 15.6 GBP (88.2) (56.0) 0.1 11.1 20.5 USD (355.3) (96.5) 0.0 (73.6) (202.3) Other 8.8 3.7 0.1 10.4 21.3 Total effect on fair value of interest rate-sensitive banking book positions (611.1) (298.5) 1.0 33.4 13.6 of which: Global Wealth Management 30.5 15.0 (0.1) (14.4) (28.3) of which: Investment Bank 18.1 9.7 (0.1) (8.1) (17.1) of which: CC – Group ALM (573.0) (280.6) 0.9 18.8 (9.9) of which: CC – Non-core and Legacy Portfolio (89.5) (44.1) 0.4 39.6 73.7 31.12.17 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (32.7) (32.7) 1.0 100.2 196.2 EUR (145.8) (92.9) 0.2 15.6 31.9 GBP (59.1) (56.8) 0.1 11.5 21.8 USD 27.3 14.8 (1.4) (138.5) (287.8) Other 4.4 0.8 0.1 5.2 10.7 Total effect on fair value of interest rate-sensitive banking book positions (205.8) (166.8) 0.0 (6.1) (27.3) of which: Global Wealth Management 148.4 60.5 (1.8) (179.9) (371.3) of which: Investment Bank 33.8 18.8 (0.2) (15.8) (31.6) of which: CC – Group ALM (279.6) (193.0) 1.5 142.3 287.2 of which: CC – Non-core and Legacy Portfolio (108.9) (53.4) 0.5 47.8 89.6 1 In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro, interest rates for Global Wealth Management (excluding Americas) and Personal & Corporate Banking client transactions are generally floored at non-negative levels. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2018, equity investments not in the trading book may be classified as Financial assets at fair value not held for trading or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investmen ts. Equity investments are generally intended to be held for the medium or long term and may be subject to lock-up agreements. For these reasons, we generally do not control these exposures by using the market risk measures applied to trading activities. H owever, such equity investments are subject to a different range of controls, including preapproval of new investments by business management and Risk Control, portfolio and concentration limits, and regular monitoring and reporting to senior management. T hey are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. As of 31 December 2018 , we held equity investments totaling USD 2.5 billion, of which USD 1.4 billion were classified as Financi al assets at fair value not held for trading and USD 1.1 billion as Investments in associates . This was broadly unchanged from the prior year. Audited | Debt investments classified as Financial assets measured at fair value through OCI as of 31 December 2018 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categorized as money market instruments and debt securities primarily held for statutory, regulatory or liquidity reasons. The risk control framework applied to debt instruments classified as Financial assets measured at fair value through OCI depends on t he nature of the instruments and the purpose for which we hold them. Our exposures may be included in market risk limits or be subject to specific monitoring and interest rate sensitivity analysis. They are also included in our Group-wide statistical and s tress testing metrics, which flow into our risk appetite framework. Debt instruments classified as Financial assets measured at fair value through OCI had a fair value of USD 6.7 billion as of 31 December 2018 compared with USD 8.1 billion as of 31 Decemb er 2017. |
UBS AG | |
MDA Risk Management And Control Market Risk [Line Items] | |
Disclosure Of Market Risk Explanatory | Audited | Main sources of market risk Market risks arise from both our trading and non-trading business activities. Trading market risks arise mainly in connection with primary debt and equity underwriting, s ecurities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Corporate Center – Non-core and Legacy Portfolio and our municipal securities trading business within Global W ealth Management. Non-trading market risk arises predominantly in the form of interest rate and foreign exchange risks in connection with personal banking and lending in our wealth management businesses, our personal and corporate banking business in Switz erland and the Investment Bank’s lending business, in addition to treasury activities. Corporate Center – Asset and Liability Management (Group ALM) assumes market risks in the process of managing interest rate risk, structural foreign exchange risk and th e liquidity and funding profile (including high-quality liquid asset s ) of the Group. Equity and debt investments can also give rise to market risks, as can some aspects of our employee benefits, such as defined benefit pension schemes. Audited | Overview of measurement, monitoring and ma n agement techniques Market risk limits are set for the Group, the business divisions and Corporate Center units and at granular levels within the various business lines, reflecting the nature and magnitude of the market ri sks. Management VaR measures exposures under the market risk framework. This includes trading market risks and parts of non-trading market risks. Non-trading market risks not included in VaR are also covered in the risks controlled by Market & Treasury Ris k Control as set out further below. Our primary portfolio measures of market risk are liquidity-adjusted stress (LAS) loss and VaR. Both are common to all our business divisions and subject to limits that are approved by the Board of Directors (BoD). These measures are complemented by concentration and granular limits for general and specific market risk factors. Our trading businesses are subject to multiple market risk limits. These limits take into account the extent of market liquidity and volatility, a vailable operational capacity, valuation uncertainty and, for our single-name exposures, the credit quality of issuers. Trading market risks are managed on an integrated basis at a portfolio level. As risk factor sensitivities change due to new transaction s, transaction expiries or changes in market levels, risk factors are dynamically rehedged to remain within limits. Accordingly, in the trading portfolio, we do not generally seek to distinguish between specific positions and associated hedges. Issuer risk is controlled by limits applied at the business division level based on jump-to-zero measures, which estimate our maximum default exposure (the loss in the case of a default event assuming zero recovery). Non-trading foreign exchange risks are managed und er market risk limits, with the exception of Corporate Center – Group ALM’s management of consolidated capital activity. Our Market & Treasury Risk Control function applies a holistic risk framework, which sets the appetite for treasury-related risk-taking activities across the Group. A key element of the framework is an overarching economic value sensitivity limit, set by the BoD. This limit is linked to the level of Basel III common equity tier 1 (CET1) capital and takes into account risks arising from interest rates, foreign exchange and credit spreads. In addition, the sensitivity of net interest income to changes in interest rates is monitored against targets set by the Group Chief Executive Officer, in order to analyze the outlook and volatility of net interest income based on market-expected interest rates. Limits are also set by the BoD to balance the effect of foreign exchange mov ements on our CET1 capital and CET1 capital ratio. Non-trading interest rate and foreign exchange risks are included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Equity and debt investments are subj ect to a range of risk controls, including preapproval of new investments by business management and Risk Control and regular monitoring and reporting. They are also included in our Group-wide statistical and stress testing metrics, which flow into our ris k appetite framework. Audited | Interest rate risk in the banking book arises from balance sheet positions such as Loans , Financial assets at fair value not held for trading, Financial assets measured at amortized cost, Financial assets measured at fair value through other comprehensive income (OCI) , Customer deposits, Debt issued measured at amortized cost , and derivatives, including those used for cash flow hedge accounting purposes. These positions may affect OCI or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from client deposits and lending products in Global Wealth Management and Personal & Corporate Banking. For Global Wealth Management and Personal & Corporate Banking, the inherent interest rate risks are transferred either by means of back-to-back transactions or, in the case of products with no c ontractual maturity date or direct market-linked rate, by replicating portfolios from the originati ng business into Corporate Center – Group ALM, which manages the risks on an integrated basis, allowing for netting interest rate risks across different sour ces. Any residual interest rate risks in Global Wealth Management and Personal & Corporate Banking that are not transferred to Corporate Center – Group ALM are managed locally and are subject to independent monitoring and control by local risk control unit s as well as centrally by Market & Treasury Risk Control. To manage the interest rate risk centrally, Corporate Center – Group ALM uses derivative instruments, most of which are in designated hedge accounting relationships. A significant amount of interest rate risk also arises from Corporate Center – Group ALM financing and investing activities, such as the investment and refinancing of non-monetary corporate balance sheet items with indefinite maturities, including equity, goodwill and real estate. For th ese items, senior management has defined specific target durations as a basis for our funding and investment activities, as applicable. These targets are defined by replication portfolios, which establish rolling benchmarks to execute against. As of 31 De cember 2018, the target replication portfolios for equity, goodwill and real estate were defined as follows: in Swiss francs with an average duration of approximately three and a half years and fair value sensitivity of USD 4 million per basis point; in US dollars with an average duration of approximately four and a half years and a sensitivity of USD 13 million per basis point. Corporate Center – Group ALM also maintains a portfolio of debt investments as part of its management of the Group’s liquidity nee ds. Banking book interest rate exposure in the Investment Bank arises predominantly from the structured financing business within Corporate Client Solutions, where transactions are subject to approval on a case-by-case basis. Corporate Center – Non-core an d Legacy Portfolio assets, primarily debt securities classified as Financial assets at fair value not held for trading , also give rise to non-trading interest rate risk. |
Value-at-risk | Actual realized market risk losses may differ from those implied by our VaR for a variety of reasons. The VaR measure is calibrated to a specified level of confidence and may not indicate potential losses beyond this confidence level. The one-day time horizon used for VaR for internal management purposes, or 10-day in the case of the regulatory VaR measure, may not fully capture the market risk of positions that cannot be closed out or hedged within the specified period. In certain cases, VaR calculations approximate the effect of changes in risk factors on the values of positions and portfolios. This may happen because the number of risk factors included in the VaR model is necessarily limited. The effect of extreme market movements is subject to estimation errors, which may result from non-linear risk sensitivities, as well as the potential for actual volatility and correlation levels to differ from assumptions implicit in the VaR calculations. The use of a five-year window means that sudden increases in market volatility will tend not to increase VaR as quickly as the use of shorter historical observation periods, but the increase will affect our VaR for a longer period of time. Similarly, following a period of increased volatility, as markets stabilize, VaR predictions will remain more conservative for a period of time influenced by the length of the historical observation period. SVaR is subject to the same limitations as noted for VaR above, but the use of one-year data sets avoids the smoothing effect of the five-year data set used for VaR, and the absence of the five-year window provides for a longer history of potential loss events. Therefore, although the significant period of stress during the financial crisis of 2007–2009 is no longer contained in the historical five-year period used for management and regulatory VaR, SVaR will continue to use this data. This approach is intended to reduce the procyclicality of the regulatory capital requirements for market risks. We recognize that no single measure may encompass the entirety of risks associated with a position or portfolio. Consequently, we employ a suite of various metrics with both overlapping and complementary characteristics in order to create a holistic framework that seeks to ensure material completeness of risk identification and measurement. As a statistical aggregate risk measure, VaR supplements our liquidity-adjusted stress and comprehensive stress testing frameworks. We also have a framework to identify and quantify potential risks that are not fully captured by our VaR model. We refer to these risks as risks-not-in-VaR. This framework is used to underpin these potential risks with regulatory capital, calculated as a multiple of regulatory VaR and stressed VaR. |
Sensitivity Analysis For Each Type Of Market Risk | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.18 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 3 5 5 1 1 Max. 22 11 9 13 4 Average 8 8 7 3 2 31.12.18 5 7 5 6 2 Total management VaR, Group 5 26 12 12 Average (per business division and risk type) Global Wealth Management 0 2 1 1 0 1 2 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 25 11 10 8 6 6 3 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 6 4 6 0 4 1 1 0 CC – Non-core and Legacy Portfolio 2 3 2 2 1 2 1 0 0 Diversification effect 2,3 (7) (7) (1) (5) (4) (1) 0 For the year ended 31.12.17 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 5 1 0 Max. 15 12 8 5 7 Average 6 10 6 3 2 31.12.17 5 9 8 3 2 Total management VaR, Group 5 19 11 10 Average (per business division and risk type) Global Wealth Management 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 18 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 6 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. Audited | Interest rate risk in the banking book is not underpinned for capital purposes, but is subject to a regulatory threshold. As of 31 December 2018, the economic-value effect of an adverse parallel shift in interest rates of ±200 basis points on our banking book interest rate risk exposures was significantly below both the current threshold of 20% of eligible capital recommended by regulators and the new threshold of 15% of t ier 1 capital applicable as of 2019. The interest rate risk sensitivity figures prese nted in the “Interest rate sensitivity – banking book” table on the next page represent the effect of +1-, ±100- and ±200-basis-point parallel moves in yield curves on present values of future cash flows, irrespective of accounting treatment. In the prevai ling negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro and the Japanese yen, interest rates for Global Wealth Management and Personal & Corporate Banking client transactions are generally floored at 0 %. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. The sensitivit y of the banking book to rising rates was positive USD 1.0 million per basis point compared with approximately nil at prior year-end. This was mainly due to changes in the US dollar sensitivity . In the third quarter of 2018 , we implemented a transfer proce ss of the interest rate risk from Global Wealth Management Region Americas to Corporate Center – Group ALM , and adopted a replication model for the non-maturing deposits held in the US. This decreased the exposure to rising rates in Global Wealth Managemen t to negative USD 0.1 million per basis point from negative USD 1.8 million per basis point. The sensitivity of the banking book to rising rates includes the interest rate sensitivities arising from debt investments classified as Financial assets measured at fair value through OCI . The sensitivity of these positions to a 1-basis-point parallel increase in the yields of the respective instruments was approximately negative USD 2 million , unchanged from the prior year . The sensitivity of the banking book to rising interest rates also includes interest rate sensitivities arising from interest rate swaps designated in cash flow hedges. Fair value gains or losses associated with the effective portion of these hedges are recognized directly in other comprehensiv e income within equity. When the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from other comprehensive income (OCI) to profit or loss. These swaps are predominantly denominated in US dollars, euros and Swiss francs. A 1-basis-point parallel increase of underlying LIBOR curves would have decreased OCI by approximately USD 22 million, excluding adjustments for tax. Interest rate sensitivity – banking book 1 31.12.18 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (8.5) (8.5) 0.8 78.6 158.6 EUR (167.9) (141.3) 0.1 6.9 15.6 GBP (88.2) (56.0) 0.1 11.1 20.5 USD (355.3) (96.5) 0.0 (73.6) (202.3) Other 8.8 3.7 0.1 10.4 21.3 Total effect on fair value of interest rate-sensitive banking book positions (611.1) (298.5) 1.0 33.4 13.6 of which: Global Wealth Management 30.5 15.0 (0.1) (14.4) (28.3) of which: Investment Bank 18.1 9.7 (0.1) (8.1) (17.1) of which: CC – Group ALM (573.0) (280.6) 0.9 18.8 (9.9) of which: CC – Non-core and Legacy Portfolio (89.5) (44.1) 0.4 39.6 73.7 31.12.17 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (32.7) (32.7) 1.0 100.2 196.2 EUR (145.8) (92.9) 0.2 15.6 31.9 GBP (59.1) (56.8) 0.1 11.5 21.8 USD 27.3 14.8 (1.4) (138.5) (287.8) Other 4.4 0.8 0.1 5.2 10.7 Total effect on fair value of interest rate-sensitive banking book positions (205.8) (166.8) 0.0 (6.1) (27.3) of which: Global Wealth Management 148.4 60.5 (1.8) (179.9) (371.3) of which: Investment Bank 33.8 18.8 (0.2) (15.8) (31.6) of which: CC – Group ALM (279.6) (193.0) 1.5 142.3 287.2 of which: CC – Non-core and Legacy Portfolio (108.9) (53.4) 0.5 47.8 89.6 1 In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro, interest rates for Global Wealth Management (excluding Americas) and Personal & Corporate Banking client transactions are generally floored at non-negative levels. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2018, equity investments not in the trading book may be classified as Financial assets at fair value not held for trading or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investmen ts. Equity investments are generally intended to be held for the medium or long term and may be subject to lock-up agreements. For these reasons, we generally do not control these exposures by using the market risk measures applied to trading activities. H owever, such equity investments are subject to a different range of controls, including preapproval of new investments by business management and Risk Control, portfolio and concentration limits, and regular monitoring and reporting to senior management. T hey are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. As of 31 December 2018 , we held equity investments totaling USD 2.5 billion, of which USD 1.4 billion were classified as Financi al assets at fair value not held for trading and USD 1.1 billion as Investments in associates . This was broadly unchanged from the prior year. Audited | Debt investments classified as Financial assets measured at fair value through OCI as of 31 December 2018 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categorized as money market instruments and debt securities primarily held for statutory, regulatory or liquidity reasons. The risk control framework applied to debt instruments classified as Financial assets measured at fair value through OCI depends on t he nature of the instruments and the purpose for which we hold them. Our exposures may be included in market risk limits or be subject to specific monitoring and interest rate sensitivity analysis. They are also included in our Group-wide statistical and s tress testing metrics, which flow into our risk appetite framework. Debt instruments classified as Financial assets measured at fair value through OCI had a fair value of USD 6.7 billion as of 31 December 2018 compared with USD 8.1 billion as of 31 Decemb er 2017. |
MD&A - Risk management and co_4
MD&A - Risk management and control - Treasury Management | 12 Months Ended |
Dec. 31, 2018 | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | Audited | We manage our balance sheet, liquidity and funding positions with the overall objective of optimizing the value of our franchise across a broad range of market conditions while consider ing current and future regulatory constraints. We employ a number of measures to monitor thes e positions under normal and stressed conditions. In particular, we use stress scenarios to apply behavioral adjustments to our balance sheet and calibrate the results from these internal stress models with external measures, primarily the liquidity covera ge ratio and the net stable funding ratio. Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Management Committee (Group ALCO), which is a committee of the Group Executive Board , and is overseen by the Risk Committee of the Board of Directors (BoD). Audited | Liquidity and funding limits and targets are set at Group and, where appropriate, at legal entity and business division levels, and are reviewed and reconfirmed at least once a year by the BoD, the Group ALCO, the Group Chief Financial Officer, the Group Treasurer and the business divisions, taking into consideration current and projected business strategy and risk tolerance. The principles underlying our limit and target framework are designed to maximize and sustain the value of our business franchise and maintain an appropriate balance in the asset and liability structure. Structural limits and targets focus on the structure and composition of the balance sheet, while supplementary limits and targets are desi gned to drive the utilization, diversification and allocation of funding resources. To complement and support this framework, Group Treasury monitors the markets for early warning indicators reflecting the current liquidity situation. The liquidity status indicators are used at Group level to assess both the overall global and regional situations for potential threats. Market & Treasury Risk Control provides independent oversight over liquidity and funding risks. Audited | Our liquidity risk management aims to maintain a sound liquidity position to meet all our liabilities when due and to provide adequate time and financial flexibility to respond to a firm-specific liquidity crisis in a generally stressed market environment , without incurring unacceptable losses or risking sustained damage to our businesses. Our liquid assets are managed using limits and targets to maintain an appropriate level of diversification (issuer, tenor and other risk characteristics) in response to any anticipated or unanticipated volatility in funding availability or requirements caused by adverse market, operational or other firm- specific events. The liquid asset portfolio size is managed to operate within the risk appetite of the Board of Directo rs and relevant local authorities at Group and legal entity level. Audited | We perform stress testing to determine the optimal asset and liability structure that allows us to maintain an appropriately balanced liquidity and funding position under various scenarios. Liquidity crisis scenario analysis and contingency funding planning support the liquidity management process and ensure that im mediate corrective measures to absorb potential sudden liquidity shortfalls can be put into effect. Audited | Our Group C ontingency F unding P lan is an integral part of our global crisis management framework , which covers various types of crisis events. This C ont ingency F unding P lan contains an assessment of contingent funding sources in a stressed environment, liquidity status indicators and metrics, and contingency procedures. Our funding diversification and global scope help protect our liquidity position in th e event of a crisis. We regularly assess and test all material known and expected cash flows, as well as the level and availability of high-grade collateral that could be used to raise additional funding if required. Our contingent funding sources include our HQLA portfolio, available and unutilized liquidity facilities at several major central banks, and contingent reductions of liquid trading portfolio assets. Audited | Group Treasury regularly monitors our funding status, including concentration risks, to ensure we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the optimal asset and liability structure to fina nce our businesses reliably and cost-efficiently, and our funding activities are planned by analyzing the overall liquidity and funding profile of our balance sheet, taking into account the amount of stable funding that would be needed to support ongoing b usiness activities through periods of difficult market conditions. |
UBS AG | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | Audited | We manage our balance sheet, liquidity and funding positions with the overall objective of optimizing the value of our franchise across a broad range of market conditions while consider ing current and future regulatory constraints. We employ a number of measures to monitor thes e positions under normal and stressed conditions. In particular, we use stress scenarios to apply behavioral adjustments to our balance sheet and calibrate the results from these internal stress models with external measures, primarily the liquidity covera ge ratio and the net stable funding ratio. Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Management Committee (Group ALCO), which is a committee of the Group Executive Board , and is overseen by the Risk Committee of the Board of Directors (BoD). Audited | Liquidity and funding limits and targets are set at Group and, where appropriate, at legal entity and business division levels, and are reviewed and reconfirmed at least once a year by the BoD, the Group ALCO, the Group Chief Financial Officer, the Group Treasurer and the business divisions, taking into consideration current and projected business strategy and risk tolerance. The principles underlying our limit and target framework are designed to maximize and sustain the value of our business franchise and maintain an appropriate balance in the asset and liability structure. Structural limits and targets focus on the structure and composition of the balance sheet, while supplementary limits and targets are desi gned to drive the utilization, diversification and allocation of funding resources. To complement and support this framework, Group Treasury monitors the markets for early warning indicators reflecting the current liquidity situation. The liquidity status indicators are used at Group level to assess both the overall global and regional situations for potential threats. Market & Treasury Risk Control provides independent oversight over liquidity and funding risks. Audited | Our liquidity risk management aims to maintain a sound liquidity position to meet all our liabilities when due and to provide adequate time and financial flexibility to respond to a firm-specific liquidity crisis in a generally stressed market environment , without incurring unacceptable losses or risking sustained damage to our businesses. Our liquid assets are managed using limits and targets to maintain an appropriate level of diversification (issuer, tenor and other risk characteristics) in response to any anticipated or unanticipated volatility in funding availability or requirements caused by adverse market, operational or other firm- specific events. The liquid asset portfolio size is managed to operate within the risk appetite of the Board of Directo rs and relevant local authorities at Group and legal entity level. Audited | We perform stress testing to determine the optimal asset and liability structure that allows us to maintain an appropriately balanced liquidity and funding position under various scenarios. Liquidity crisis scenario analysis and contingency funding planning support the liquidity management process and ensure that im mediate corrective measures to absorb potential sudden liquidity shortfalls can be put into effect. Audited | Group Treasury regularly monitors our funding status, including concentration risks, to ensure we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the optimal asset and liability structure to fina nce our businesses reliably and cost-efficiently, and our funding activities are planned by analyzing the overall liquidity and funding profile of our balance sheet, taking into account the amount of stable funding that would be needed to support ongoing b usiness activities through periods of difficult market conditions. |
MD&A - Capital management
MD&A - Capital management | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure MDA Capital Management [Line Items] | |
Disclosure Of Objectives Policies And Processes For Managing Capital Explanatory | Audited | An adequate level of total loss-absorbing capacity (TLAC) in accordance with both our internal assessment and regulatory requirements is a prerequisite to conducting our business activities. Audited | We manage our balance sheet, RWA, LRD and TLAC ratio levels within our internal limits and targets and on the basis of our regulatory TLAC requirements. Our strategic focus is to achieve an optimal attribution and use of financial resources between our business divisions and Corporate Center, as well as between our legal entities, while remaining within the limits defined for the Group and al located to the business divisions by the Board of Directors (BoD). These resource allocations, in turn, affect business plans and earnings projections, which are reflected in our capital plans. The annual strategic planning process includes a capital-plann ing component that is key in defining medium- and longer-term capital targets. It is based on an attribution of Group RWA and LRD internal limits to the business divisions. Effective 1 January 2019, changes in resource allocation from Corporate Center to t he business divisions will be reflected in the equity attribution to the business divisions, alongside other updates to the equity attribution framework. Refer to the “Significant accounting and financial reporting changes” section of this report for more information on the alignment of the equity attribution framework to the revised resource allocation methodology Refer to “Equity attribution and return on attributed equity” in this section for more information on how equity is attributed to our business divisions Limits and targets are established at both the Group and business division levels, and are submitted to the BoD for approval at least annually. In the target-setting process, we take into account the current and p otential future TLAC requirements, our aggregate risk exposure in terms of capital-at-risk, the assessment by rating agencies, comparisons with peers and the effect of expected accounting policy changes. Audited | In 2018 , we continued to focus on meeting the Swiss SRB capital requirements applicable as of 1 January 2020. Th erefore, we executed a series of transactions, including: the issuance of USD 2.5 billion equivalent of high-trigger loss-absorbing additional tier 1 (AT1) capital instruments denom i nated in US dollars and Singapore dollars; the issuance of USD 3.4 billion equivalent of TLAC-eligible senior unsecured debt denominated in euros and Japanese yen, the issuance of USD 0.4 billion of high-trigger loss-absorbing AT1 capital instruments related to DCCP awards granted for the performance year 2018; and the call of USD 1.4 billion equivalent of low-trigger tier 2 capital instruments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital USD million 31.12.18 31.12.17 Total IFRS equity 53,103 52,554 Equity attributable to non-controlling interests (176) (59) Defined benefit plans, net of tax 0 0 Deferred tax assets recognized for tax loss carry-forwards (6,107) (5,947) Deferred tax assets on temporary differences, excess over threshold (586) (879) Goodwill, net of tax 1 (6,514) (6,646) Intangible assets, net of tax (251) (220) Compensation-related components (not recognized in net profit) (1,652) (1,662) Expected losses on advanced internal ratings-based portfolio less provisions 2 (368) (650) Unrealized (gains) / losses from cash flow hedges, net of tax (109) (360) Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values (397) 136 Unrealized gains related to debt instruments at fair value through OCI, net of tax (4) (198) 3 Prudential valuation adjustments (120) (61) Accruals for proposed dividends to shareholders (2,648) (2,501) Other (52) 8 Total common equity tier 1 capital 34,119 33,516 1 Includes goodwill related to significant investments in financial institutions of USD 176 million (31 December 2017: USD 359 million) presented on the balance sheet line “Investments in associates.” 2 From 1 January 2018, provisions have been calculated in accordance with IFRS 9. Provisions in prior periods have been calculated in accordance with International Accounting Standard (IAS) 39. 3 As of 31 December 2017 related to equity and debt instruments available for sale. Audited | Our CET1 capital mainly consists of share capital, share premium, which primarily consists of additional paid-in capital related to shares issued, and retained earnings. A detailed reconciliation of IFRS equity to CET1 capital is provided in the “Reconcili ation of IFRS equity to Swiss SRB common equity tier 1 capital” table. O ur CET1 capital increased by USD 0.6 billion to USD 34. 1 billion as of 31 December 2018 , mainly as a result of operating profit before tax, partly offset by accruals for capital retur ns to shareholders and our share repurchase program . Refer to “ UBS shares ” in this section for more information on the share repurchase program Our loss-absorbing additional tier 1 (AT1) capital increased by USD 2.7 billion to USD 12.2 billion as of 31 December 201 8 , primarily due to the issuance of USD 2.5 billion equivalent of US dollar- and Singapore dollar-denominated AT1 capital instruments and a USD 0.4 billion increase related to Deferred Contingent Capital Plan (DCCP) awards granted for the p erformance year 2018 , partly offset by currency effects. Audited | Our total gone concern loss-absorbing capacity included USD 30.0 billion of TLAC-eligible senior unsecured debt , and increased by USD 0.1 billion to USD 37.5 billion as of 31 December 2018 . |
UBS AG | |
Disclosure MDA Capital Management [Line Items] | |
Disclosure Of Objectives Policies And Processes For Managing Capital Explanatory | Audited | An adequate level of total loss-absorbing capacity (TLAC) in accordance with both our internal assessment and regulatory requirements is a prerequisite to conducting our business activities. Audited | We manage our balance sheet, RWA, LRD and TLAC ratio levels within our internal limits and targets and on the basis of our regulatory TLAC requirements. Our strategic focus is to achieve an optimal attribution and use of financial resources between our business divisions and Corporate Center, as well as between our legal entities, while remaining within the limits defined for the Group and al located to the business divisions by the Board of Directors (BoD). These resource allocations, in turn, affect business plans and earnings projections, which are reflected in our capital plans. The annual strategic planning process includes a capital-plann ing component that is key in defining medium- and longer-term capital targets. It is based on an attribution of Group RWA and LRD internal limits to the business divisions. Effective 1 January 2019, changes in resource allocation from Corporate Center to t he business divisions will be reflected in the equity attribution to the business divisions, alongside other updates to the equity attribution framework. Refer to the “Significant accounting and financial reporting changes” section of this report for more information on the alignment of the equity attribution framework to the revised resource allocation methodology Refer to “Equity attribution and return on attributed equity” in this section for more information on how equity is attributed to our business divisions Limits and targets are established at both the Group and business division levels, and are submitted to the BoD for approval at least annually. In the target-setting process, we take into account the current and p otential future TLAC requirements, our aggregate risk exposure in terms of capital-at-risk, the assessment by rating agencies, comparisons with peers and the effect of expected accounting policy changes. Audited | In 2018 , we continued to focus on meeting the Swiss SRB capital requirements applicable as of 1 January 2020. Th erefore, we executed a series of transactions, including: the issuance of USD 2.5 billion equivalent of high-trigger loss-absorbing additional tier 1 (AT1) capital instruments denom i nated in US dollars and Singapore dollars; the issuance of USD 3.4 billion equivalent of TLAC-eligible senior unsecured debt denominated in euros and Japanese yen, the issuance of USD 0.4 billion of high-trigger loss-absorbing AT1 capital instruments related to DCCP awards granted for the performance year 2018; and the call of USD 1.4 billion equivalent of low-trigger tier 2 capital instruments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital (UBS Group AG vs UBS AG consolidated) As of 31.12.18 USD million UBS Group AG (consolidated) UBS AG (consolidated) Differences Total IFRS equity 53,103 52,432 671 Equity attributable to preferred noteholders and non-controlling interests (176) (176) 1 Defined benefit plans 0 0 0 Deferred tax assets recognized for tax loss carry-forwards (6,107) (6,107) 0 Deferred tax assets on temporary differences, excess over threshold (586) (506) (80) Goodwill, net of tax (6,514) (6,514) 0 Intangible assets, net of tax (251) (251) 0 Compensation-related components (not recognized in net profit) (1,652) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (368) (367) (1) Unrealized (gains) / losses from cash flow hedges, net of tax (109) (109) 0 Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values (397) (397) 0 Unrealized gains related to debt instruments at fair value through OCI, net of tax (4) (4) 0 Prudential valuation adjustments (120) (120) 0 Accruals for proposed dividends to shareholders (2,648) (3,250) 602 Other (52) (22) (30) Total common equity tier 1 capital 34,119 34,608 (489) |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Line Items] | |
Basis of accounting | Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are pre sented in US dollars ( USD ), which is also the functional currency of UBS Group AG , UBS AG’s Head Office, UBS AG’s London Branch and UBS’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that a re marked as audited form an integral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures , and IAS 1, Presentation of Financial Statements , and are not repeated in this section. The a ccounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. In addition, effective from 1 January 2018, the Group applies IFRS 9, Financial Instruments , which substantially changes the accounting for financial assets, and IFRS 15, Revenue from Contracts with Customers , which affects the Group’s revenue recognition, measurement and presentation. Within this note, policies for prior periods that differ from those applied to the financial year ended 31 December 2018 are identified as “Comparative policy . ” |
Critical accounting estimates and judgments | Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions, updating them as necessary. Changes in those estimates and assumptions may have a significant effect on the Financial Statements. Further, actual results may differ significantly from UBS’s estimates, which could result in significant losses to the Group, beyond what was anticipated or prov ided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 24 ) allowances and provisions for expected credit losses (refer to item 3g in this Note and to Note 23 ) assessment of the business model and certain contractual features when classifying financial instruments (refer to item 3b in this Note) pension and other post-employment benefit plans (refer to it em 7 in this Note and to Note 29 ) income taxes (refer to item 8 in this Note and to Note 8) goodwill (refer to ite m 11 in this Note and to Note 16 ) provisions and contingent liabilities (refer to item 12 in this Note and to Note 21 ) consolidation of structured entities (refer to item 1 in this Note and to Not e 31) determination of the functional currency and assessing the earliest date from which it i s practical to perform a restatement following a change in presentational currency (refer to item 1 3 in this Note and to Not e 1b). |
Consolidation Structured entities | 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent compan y (UBS Group AG) and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity ; (ii) exposure to an entity ‘s variable returns ; and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indic ated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS has an interest in an entity that exposes it to variability, UBS considers whether it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether the Group has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions abo ut those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements ( such as call rights, put rights or liquidation rights ) as well as potential decision-making rights are all considered i n this assessment. Where the Group has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held in a principal or agent capaci ty. Consideration is given to : (i) the scope of decision-making authority ; (ii) rights held by other parties, including removal or other participating rights ; and (iii) exposure to variability, including remuneration, relative to total variability of the e ntity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, including SEs, are consol idated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establ ish that control is present. Refer to Note 31 for more information b. Structured entities UBS sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be expos ed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entities generally have a narrow and well-defined objective and include those hist orically referred to as special- purpose entities , as well as some investment funds. UBS assesses whether an entity is an SE by considering the nature of the activities of the entity as well as the s ubstance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the h older has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third p arties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured entities are establi shed predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS or through an external market transaction. In som e cases, UBS may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS may have interests in a third-party-spons ored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does no t have a substantive effect on variability, or are actively managed , and investors or their governing bodies do not have substantive voting or similar rights. UBS creates and sponsors a large number of funds in which it may have an interest through the rec eipt of variable management fees and / or a direct investment. In addition, UBS has interests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products. When UBS does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS’s involvement are unique to each entity, there is no uniform cons olidation outcome by entity. Certain entities within a class may be consolidated while others may not. When carrying out the consolidation assessment, judgment is exercised considering all the relevant facts and circumstances, including the nature and acti vities of the investee, as well as the substance of voting and similar rights. Refer to Note 31 for more information |
Segment reporting | 2) Segment reporting Prior to the first quarter of 2018, UBS‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualif ied as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect ed the management structure of the Group . Corpo rate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Corporate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Ma nagement (Group ALM), Non-core and Legacy Portfolio) was presented separately in internal management reports to the Group Executive Board, which is considered the “chief operating decision maker” pursuant to IFRS 8, Operating Segments. Effective from the first quarter of 2018, UBS combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performan ce targets and an integrated operating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports to the Group Executive Board. Con sequently, from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Ba nk and Corporate Center (with its units Services, Group ALM and Non-core and Legacy Portfolio). Following the change in the composition of UBS’s operating segments and corresponding reportable segments, previously reported segment information has been rest ated. This change has no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information UBS’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commissions are credited to the reportable segments bas ed on the corresponding client relationship. Total intersegment revenues for the Group are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Interest income earned from managing UBS’s con solidated equity is allocated to the reportable segments based on average attributed equity and currency composition . Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to the Group Executive Board. Certain assets managed centra lly by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Cente r – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center , notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the operating segments . Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are entirely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment repor ting purposes represent assets that are expected to be recovered more than 12 months after the reporting date, excluding financial instruments, deferred tax assets and post-employment benefits. Refer to Note s 1 b and 2 for more inform ation |
Financial instruments | 3) Financial instruments a. Recognition UBS recognizes financial instruments when it becomes a party to the contractual provisions of the instrument. UBS applies settlement date accounting to all regular way purchases and sales of financial instrumen ts . In transactions in which UBS acts a s a transferee, to the extent that the transfer of a financial asset does not qualify for derecognition by the t ransferor, UBS does not recogniz e the transferred instrument as its asset. UBS also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS’s balance sheet. Consequent ly, the related income is excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, the Gro up neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are initially measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOCI) , the initial fair value is adjusted for directly attributa ble transaction costs. Policy applicable from 1 January 2018 1 On initial recognition, financial assets are classified as measured at amortized cost, FVOCI, or fair value through profit or loss (FVTPL). A debt instrument is measured at amortized cost if it meets the following conditions: it is held within a business model that has an objective to hold financial assets to collect contractual cash flows; and the contractual terms of the financial asset result in cash flows that are solely payments of principa l and interest (SPPI) on the principal amount outstanding. A debt instrument is measured at FVOCI if it meets both of the following conditions: it is held within a business model whose objective is achieved by both collecting contractual cash flows and se lling financial assets; and the contractual terms of the financial asset result in cash flows that are SPPI on the principal amount outstanding. All other financial assets are measured at FVTPL and consist of held for trading assets, assets mandatorily me asured on a fair value basis and derivatives, except to the extent that they are designated in a hedging relationship, in which case the IAS 39 hedge accounting requirements continue to apply. Business model assessment UBS determines the nature of the bus iness model, for example if the objective is to hold the financial asset and collect the contractual cash flows, by considering the way in which the financial assets are managed to achieve a particular business objective as determined by management. Finan cial assets that are held for trading or managed on a fair value basis are measured at FVTPL insofar as the associated business model is neither to hold the financial assets to collect contractual cash flows nor to hold to collect contractual cash flows an d sell. The Group originates loans to hold to maturity and to sell or sub-participate to other parties, resulting in a transfer of substantially all the risks and rewards, and derecognition of the loan or portions of it. The Group considers the activities of lending to hold and lending to sell or sub-participate as two separate business models, with financial assets within the former considered to be within a business model that has an objective to hold the assets to collect contractual cash flows, and thos e within the latter included in a trading portfolio. In certain cases, it may not be possible on origination to identify whether loans or portions of loans will be sold or sub-participated and certain loans may be managed on a fair value basis through, fo r instance, using credit derivatives. These financial assets are mandatorily measured at FVTPL. Critical accounting estimates and judgments UBS exercises judgment in determining the appropriate level at which to assess its business models. In general, the assessment is performed at the product level, e.g., retail and commercial mortgages. In other cases, the assessment is carried out at a more granular level, e.g., loan portfolios by region, and, if required, further disagg regation is performed by business strategy. A detailed assessment is carried out considering how the financial assets are evaluated and reported to UBS’s key management, the risks that affect the performance of the business and the way that management is c ompensated. In addition, UBS exercises judgment in determining the effect of sales of financial instruments on the business model assessment. In particular, an assessment is made on whether and the extent to which sales are consistent with the objective of the business model. Contractual cash flow characteristics In assessing whether the contractual cash flows are SPPI, the Group considers whether the contractual terms of the financial asset contain a term that could change the timing or amount of contra ctual cash flows arising over the life of the instrument, which could affect whether the instrument is considered to meet the SPPI criterion. For example, the Group holds portfolios of private mortgage contracts and corporate loans in Personal & Corporate Banking that commonly contain clauses that provide for two-way compensation if prepayment occurs. The amount of compensation paid by or to UBS reflects the effect of changes in market interest rates. The Group has determined that the inclusion of the chang e in market interest rates in the compensation amount is reasonable for the early termination of the contract, and therefore results in contractual cash flows that are SPPI. Critical accounting estimates and judgments UBS applies judgment when considering whether certain contractual features, such as interest rate reset frequency or non-recourse features, significantly affect future cash flows and whether compensation paid or received on early termination of lending arrangements results in cash flows that are not SPPI. A thorough analysis of all relevant facts and circumstances is assessed before concluding whether contractual cash flows of the financial instrument are consistent with payments representing principal and interest. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. 1 The accounting policy in this section applies from 1 Janu ary 2018, the effective date of IFRS 9. For the details of transition effects refer to Note 1c. Classification, measurement and presentation of financial instruments from 1 January 2018 Measured at amortized cost A debt financial asset is measured at amortized cost if: it is held in a business model that has an objective to hold assets to collect contractual cash flows; and the contractual terms give rise to cash flows that are SPPI. This classification includes: cash and balances at central banks loans and advances to banks cash collateral receivables on securities borrowed receivable s on reverse repurchase agreements cash collateral receivables on derivative instruments residential and commercial mortgages corporate loans secured loans, including Lombard loans, and unsecured loans loans to financial advisors debt securities held as hi gh-quality liquid assets (HQLA) fee and lease receivables. Measured at amortized cost using the effective interest rate (EIR) method less allowances for expected credit losses (ECL) (refer to items 3c and 3g in this Note for more information). The follow ing items are recognized in the income statement: interest income, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses . Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments – when it is probable that UBS will enter into a specific lending relationship – are deferred and amortized over the life of the loan using the EIR method. When the financial asset at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared through central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note ) are presented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI A debt financial asset is measured at FVOCI if: it is held in a business model whose objective is achieved by both holding assets to collect contractual cash flows and selling the assets; and the contractual terms give rise to cash flows that are SPPI. This classification primarily includes debt securities and certain asset-backed securities held as HQLA for which the contractual cash flows meet the SPPI criterion . Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are derecognized (when sold, collected or otherwise disposed). Upon derecognition, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. The following items are recognized in the income statement: interest income, which is accounted for in accordance with item 3c in this Note ECL and reversals foreign exchange translation gains and losses. The amounts recognized in the income sta tement are determined on the same basis as for financial assets measured at amortized cost. Measured at FVTPL Held for trading Financial assets held for trading include: all derivatives with a positive replacement value, except those that are designated and effective hedging instruments; and other financial assets acquired principally for the purpose of selling or repurchasing in the near term, or that are part of a portfolio of identifie d financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and trad ed corporate and bank loans) and equity instruments. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net in come from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain type s of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedging instrumen ts) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash colla teral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). F inancial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at fair value no t held for trading, except for brokerage receivables, which are presented as a separate line item on the Group ’ s balance sheet. Mandatorily measured at FVTPL – Other A financial asset is mandatorily measured at FVTPL if: it is not held in a business model whose objective is to hold assets to collect contractual cash flows or to hold them to collect contractual cash flows and sell ; and / or the contractual terms give rise to cash flows that are not SPPI ; and / or it is not held for trading. The follo wing financial assets are mandatorily measured at FVTPL: c ertain structured loans, certain commercial loans, receivables under reverse repurchase and cash collateral on securities borrowing agreements that are managed on a fair value basis ; loans managed on a fair value basis and hedged with credit derivatives ; c ertain debt securities held as HQLA and managed on a fair value basis ; c ertain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets represent holdings in investment funds, whereby the contractual cash flows do not meet the SPPI criterion because the entry and exit price is based on the fair value of the fund ’ s assets ; b rokerage receivables, for which contractual ca sh flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest being calculated on the individual components ; a uction rate securities, for which contractual cash flows do not meet the SPPI criterion because interest may be reset at rates that contain leverage ; e quity instruments ; and a ssets held under unit-linked investment contracts . Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net in come from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain type s of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedging instrumen ts) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash colla teral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). F inancial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at fair value no t held for trading, except for brokerage receivables, which are presented as a separate line item on the Group ’ s balance sheet. Measured at amortized cost This classification includes: demand and time deposits; retail savings / deposits; amounts payable under repurchase agreements; cash collateral on securities lent; non-structured fixed-rate bonds; subordinated debt; certificates of deposit and covered bonds; and cash collateral payables on derivative instruments. Measured at amortized cost using the EIR method. Upfront fees and direct costs relating to the issuance or origination of the liability are deferred and amortized over the life of the liability using the EIR method. When the financial liability at amorti zed cost is derecognized, the gain or loss is recognized in the income statement. Amortized cost liabilities are presented on the balance sheet primarily as Amounts due to banks, Customer deposits, Payables from securities financing transactions and Debt issued measured at amortized cost. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note for more information ) are presented within Cash collateral payables on derivative instruments. Measured at fair value through profit or loss Held for trading Financial liabilities held for trading include: all derivatives with a negative replacement value (including certain loan commitments) , except those that are designated and effective hedging instruments; and obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (short positions). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on the Group ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Deri vative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral payables on derivative instru ments. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost. Derivatives that are designated and effective as hedging instruments are also measured at fair value. The presentation of fair value changes differs depending on the type of hedge relationship (refer to item 3j in this Note for more information). Designated at FVTPL UBS designate s at FVTPL the following financial liabilities: i ssued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes i ssued debt instruments managed on a fair value basis c ertain payables under repurchase agreements and cash collateral on securities lending agreements tha t are managed in conjunction with associated reverse repurchase agreements and cash collateral on securities borrowed (from 1 January 2018) a mounts due under unit-linked investment contracts whose cash flows are linked to financial assets measured at FVTPL and eliminate an accounting mismatch (from 1 January 2018) b rokerage payables, which arise in conjunction with brokerage receivables and are measured at FVTPL to achieve measurement consistency (from 1 January 2018). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on the Group ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Deri vative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral payables on derivative instru ments. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost. Derivatives that are designated and effective as hedging instruments are also measured at fair value. The presentation of fair value changes differs depending on the type of hedge relationship (refer to item 3j in this Note for more information). Comparative policy | Policy applicable prior to 1 January 2018 Prior to 1 January 2018, on initial recognition, UBS classifie d , measure d and present ed its financial assets and liabilities in a ccordance with IAS 39, Financial Instruments: Recognition and Measurement . Classification, measurement and presentation requirements in respect of financial liabilities have been substantially retained by IFRS 9 and are detailed in the table “ Classificatio n, measurement and presentation of financial instruments from 1 January 2018.” The following table sets out details of classification, measurement and presentation of financial assets prior to 1 January 2018 . Classification, measurement and presentation of financial assets prior to 1 January 2018 Held for trading Financial assets held for trading include: a ll derivatives with a positive replacement value , except those that are designated and effective hedging instruments; and a ny other financial asset acquired principally for the purpose of selling or repurchasing in the near term, or part of a portfolio of ide ntified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper an d traded corporate and bank loans), equity instruments, and assets held under unit-linked investment contracts. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than deri vatives (refer to item 3c in this Note), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interes t income. Derivative assets are generally presented as Derivative financial instruments. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amortized cost. The pre sentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3j in this Note for more information). Financial assets held for trading (other than de rivatives) are presented as Financial assets at fair value held for trading. Financial assets designated at fair value through profit or loss are presented as Financial assets at fair value not held for trading Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior management on that basis; or the application of the fair value option eliminates or significantly reduces an accounting mismatch that would otherwise arise. UBS designated at fair value through profit or loss the following financial assets: certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis; loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch; certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Center – Group ALM on a fair value basis; and assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise as a result of the liability being measured on a fair value basis. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than deri vatives (refer to item 3c in this Note), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interes t income. Derivative assets are generally presented as Derivative financial instruments. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amortized cost. The pre sentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3j in this Note for more information). Financial assets held for trading (other than de rivatives) are presented as Financial assets at fair value held for trading. Financial assets designated at fair value through profit or loss are presented as Financial assets at fair value not held for trading 1 Presentation categories in this table reflect retrospective amendments to UBS Group balance sheet presentation carried out upon transition to IFRS 9 to facilitate comparability. For a detailed description of line items presented in UBS’s financial stateme nts on or before the year ended 31 December 2017, refer to item 4 within Note 1c. Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which the Group may not recover substantially all of its initial net investment for reasons other than credit deterioration. This classification includes: cash and balances with central banks cash collateral receivables on de rivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and Lombard loans, and unsecured loans certain securities held within Corporate Center – Non-core and Legac y Portfolio trade and lease receivables. Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). Upfront fees and direct costs relating to loan origination, refinancin g or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and receivables are presented on the balance sheet primarily as Cash and balances with central banks, Lo ans and advances to banks, Loans and advances to customers , Receivables from securities financing transactions and Cash collateral receivables on derivative instruments. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3i in this Note) are presented within Cash collateral receivables on derivative instruments. Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly inc ludes debt securities held as HQLA and managed by Corporate Center – Group ALM, certain asset-backed securities managed by Corporate Center – Group ALM, investment fund holdings and strategic and commercial equity investments. Measured at fair value with u nrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are sold, collected or otherwise disposed of, or until any such investment is determined to be impaired (refer to item 3g in this Note ). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. Interest and dividend income are recognized in the income statement in accordance with item 3c in this Note . Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for which UBS has the positive intention and ability to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporate C enter – Group ALM. Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurchase transactions are generally entered into on a collateralized basis. In such transactions, UBS typically borrows or lends equity an d debt securities in exchange for securities or cash collateral. These transactions are treated as collateralized financing transactions where the securities transferred / received are not derecognized or recognized on the balance sheet. Securities trans ferred / received with the right to resell or repledge are disclosed separately. In reverse repurchase and securities borrowing agreements, the cash delivered is derecognized and a corresponding receivable, including accrued interest, is recorded in the ba lance sheet line Receivables from securities financing transactions (prior to 1 January 2018: Reverse repurchase a greements and Cash collateral on securities borrowed ) , representing UBS’s right to receive the cash. Similarly, in repurchase and securities l ending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is recorded in Payables from securities financing transactions (prior to 1 January 2018: Repurchase agreements and Cash collateral on securities lent ) . Additionally, the sale of securities that is settled by delivering securities received in reverse repurchase or securities borrowing transactions triggers the recognition of a trading liability. Repurchase and reverse repurchase transactions with th e same counterparty, maturity, currency and central securities d epository are generally presented net, subject to meeting the netting requirements described in item 3 i of this Note . Refer to Notes 26 and 25 for more information h. Restructured and modified financial assets When payment default is expected or where default has already occ urred, UBS may grant concessions to borrowers in financial difficulties that it wo uld otherwise not consider in the normal course of its business, such as preferential interest rates, extension of maturity, modifying the schedule of repayments, debt / equi ty swap, subordination , etc . When a concession or forbearance measure is granted, each case is considered individually and the exposure is generally classified as being in default. Forbearance classification will remain until the loan is collected or writt en off, non-preferential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appetite. Contractual adjustments when there is no evidence of immi nent payment default, or where changes to terms and conditions are within UBS’s usual risk appetite, are not considered to be in forbearance. Modifications represent contractual amendments that result in an alteration of future contractual cash flows and t hat can occur within UBS’s normal risk appetite or as part of a credit restructuring where a counterparty is in financial difficulties. A restructuring or modification |
Interest income and expense | c. Interest income and expense Interest income and expense are recognized in the income statement applying the effective interest rate (EIR) method. When calculating the EIR for financial instruments (other than credit-impaired financial instruments), UBS es timates future cash flows considering all contractual terms of the instrument, but not expected credit losses. In determining interest income and expense, the EIR is applied to the gross carrying amount of the financial asset (unless the asset is credit-impaired) or the amortized cost of a financial liability (prior to 1 January 2018: amortized cost of a financial asset or financial liability). However, when a financial asset becomes credit-impaired after initial recognition, interest income is det ermined by applying the EIR to the amortized cost of the instrument, which represents the gross carrying amount adjusted for any credit loss allowance. Furthermore, for financial assets that were credit-impaired on initial recognition, interest is determin ed by applying a credit-adjusted EIR to the amortized cost of the instrument. Upfront fees, including loan commitment fees where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measure d at amortized cost or FVOCI (prior to 1 January 2018: financial asset classified as available for sale). Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no lo an is expected to be issued, as well as loan syndication fees where UBS does not retain a portion of the syndicated loan or where UBS does retain a portion of the syndicated loan at the same effective yield for comparable risk as other participants, are in cluded in Net fee and commission income . Please refer to item 4 in this Note for more information Presentation of interest in the income statement Effective from 1 January 2018, interest income or expense on financial instruments measured at amortized cos t and financial assets measured at FVOCI (prior to 1 January 2018: financial assets classified as available for sale) are presented separately within Interest income from financial instruments measured at amortized cost and fair value through other compreh ensive income and Interest expense from financial instruments measured at amortized cost . UBS also presents interest income and expense on financial instruments (excluding derivatives) measured at FVTPL including forward points on certain short- and long- duration foreign exchange contracts and dividends separately in Interest income ( or expense) from financial instruments measured at fair value through profit or loss . Furthermore, interest income and expense on derivatives designated as hedging instruments in effective hedge relationships are presented consistently with the interest income and expense of the respective hedged item. Interest income on financial assets, excluding derivatives, is included in Interest income when positive and in Interest expens e when negative, because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income . Refer to item 3 j in this Note and Note 3 for more information |
Derecognition of financial instruments | d. Derecognition Financial assets UBS derecognizes a financial asset, or a portion of a financial asset, from its bal ance sheet where the contractual rights to cash flows from the asset have expired, or have been transferred, usually by sale, thus exposing the purchaser to either substantially all the risks and rewards of the asset or a significant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is considered to have been transferred when UBS (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual r ights to receive the cash flows of that asset, but assumes a contractual obligation to pay the cash flows to one or more entities. Where financial assets have been pledged as collateral or in similar arrangements, they are considered to have been transferr ed if the counterparty has received the contractual right to the cash flows of the pledged assets, as may be evidenced, for example, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the pledged financial assets has not received the contractual right to the cash flows, UBS does not consider this to be a transfer for the purposes of derecognition. In tra nsactions where substantially all of the risks and rewards of ownership of a financial asset are neither retained nor transferred, UBS derecognizes the financial asset if control over the asset is surrendered , and the rights and obligations retained follow ing the transfer are recognized separately as assets and liabilities, respectively. In transfers where control over the financial asset is retained, UBS continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset following the transfer. Certain over-the-counter (OTC) derivative contracts and most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of the variation margin represents legal or economic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer to Note 25 for more information Financial liabilities UBS derecognizes a financial liability from its balance sheet when it is extinguished ; i.e., when the obligation specified in the contract is discharged, canceled or expire s . When an existing financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantiall y modified, such an exchange or modification results in derecognition of the original liability and the recognition of a new liability with any difference in the respective carrying amounts being recognized in the income statement. |
Fair value of financial instruments | f. Fa ir value of financial instruments UBS accounts for a significant portion of its assets and liabilities at fair value. Fair value is the price on the measurement date that would be received for the sale of an asset or paid to transfer a liability in an orde rly transaction between market participants in the principal market, or in the most advantageous market in the absence of a principal market. All financial instruments measured at fair value are categorized into one of three fair value hierarchy levels. L evel 1 financial instruments are those for which fair values can be derived from quoted prices in active markets. Level 2 financial instruments are those for which fair values must be derived using valuation techniques for which all significant inputs are, or are based on, observable market data. Level 3 financial instruments are those for which fair values can only be derived on the basis of valuation techniques for which significant inputs are not based on observable market data. Critical accounting estimates and judgments The use of valuation techniques, modeling assumptions and estimates of unobservable market inputs require significant judgment and could affect the amount of gain or loss recorded for a particular position. Valuation techniques that rely more heavily on unobservable inputs require a higher level of judgment to calculate a fair value than those entirely based on observable inputs. Valuation techniques, including models, that are used to determine fair values are periodically reviewed and validated by qualified personnel, independent of those who created them. Models are calibrated to ensur e that outputs reflect observable market data, to the extent possible. Also, UBS prioritizes the use of observable inputs, when available, over unobservable inputs. Judgment is required in selecting appropriate models as well as inputs for which observable data is less readily or not available. UBS‘ s governance framework over fair value measurement is described in Note 24b. The level of subjectivity and the degree of management judgment involved in the development of estimates and the selection of assumpt ions are more significant for instruments valued using specialized and sophisticated models and where some or all of the parameter inputs are less observable (Level 3 instruments) and may require adjustment to reflect factors that market participants would consider in estimating fair value, such as close-out costs, credit exposure, model-driven valuation uncertainty, funding costs and benefits, trading restrictions and other factors, which are presented in Note 24d. The Group provides a sensitivity analysis of the estimated effects arising from changing significant unobservable inputs in Level 3 financial instruments to reasonably possible alternative assumptions within Note 24g. Refer to Note 24 for more information p. Other net income from fair value changes on financial instruments The line item Other net income from fair value changes on financial in struments includes fair value gains and losses on financial instruments at fair value through profit or loss but excluding interest income and expense on non-derivatives (refer to item 3c in this Note) , as well as the effects at derecognition, trading gain s and losses and intermediation income arising from certain client-driven Global Wealth Management and Personal & Corporate Banking financial transactions. In addition, foreign currency translation effects and income and expenses from precious metals are p resented within this income statement line item. |
Impairment of financial assets | g. Allowances and provisions for expected credit losses Policy applicable from 1 January 2018 1 Expected credit losses (ECL) are recognized for financial assets measured at amortized cost, financial assets measured at FVOCI, fee and lease receivables, financial guarantees and loan comm itments. ECL are also recognized on the undrawn portion of revolving revocable credit lines, which include UBS’s credit card limits and master credit facilities, which are customary in the Swiss market for corporate and commercial clients. UBS refers to bo th as “other credit lines,” with clients allowed to draw down on-demand balances (with the Swiss master credit facilities also allowing for term products) and which can be terminated by UBS at any time. Though these other credit lines are revocable, UBS is exposed to credit risk because the client has the ability to draw down funds before UBS can take credit risk mitigation actions. Recognition of expected credit losses ECL represent the difference between contractual cash flows and those UBS expects to r eceive, discounted at the EIR. For loan commitments and other credit facilities in scope of ECL, expected cash shortfalls are determined by considering expected future drawdowns. ECL are recognized on the following basis: Maximum 12-month ECL are recogniz ed from initial recognition, reflecting the portion of lifetime cash shortfalls that would result if a default occurs in the 12 months after the reporting date, weighted by the risk of a default occurring. Instruments in this category are referred to as in struments in stage 1. For instruments with a remaining maturity of less than 12 months, ECL are determined for this shorter period. Lifetime ECL are recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initi al recognition, reflecting lifetime cash shortfalls that would result from all possible default events over the expected life of a financial instrument, weighted by the risk of a default occurring. Instruments in this category are referred to as instrument s in stage 2. Where an SICR is no longer observed, the instrument will move back to stage 1. Lifetime ECL are always recognized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrum ent is credit-impaired is based on the occurrence of one or more loss events, with lifetime ECL generally derived by estimating expected cash flows based on a chosen recovery strategy . Credit-impaired exposures may include positions for which no loss has o ccurred or no allowance has been recognized, for example, because they are expected to be fully recoverable through the collateral held. Changes in lifetime ECL since initial recognition are also recognized for assets that are purchased or originated cred it-impaired (POCI). POCI financial assets are initially recognized at fair value, with interest income subsequently being recognized based on a credit-adjusted EIR. POCI financial instruments include those that are newly recognized following a substantial restructuring and remain a separate category until derecognition. UBS does not apply the low-credit-risk practical expedient that allows a lifetime ECL for lease or fee receivables to be recognized irrespective of whether a significant increase in credit risk has occurred. Instead, UBS has incorporated lease and fee receivables into the standard ECL calculation. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9. For the details of transition effects refer to Note 1c. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Write-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses. Recov eries, in part or in full, of amounts previously written off are generally credited to Credit loss (expense) / recovery . Write-offs and partial write-offs represent derecognition / partial derecognition events. ECL are recognized in profit or loss with a corresponding ECL allowance reported as a decrease in the carrying value of financial assets measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying value is not reduced, but an accumulated amo unt is recognized in OCI. For off-balance sheet financial instruments and other credit lines, provisions for ECL are reported in Provisions . ECL are recognized within the income statement in Credit loss (expense) / recovery. Default and credit impairment U BS applies a single definition of default for classifying assets and determining the probability of default of its obligors for risk modeling purposes. The definition of default is based on quantitative and qualitative criteria. A counterparty is classifie d as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or more than 180 days for certain exposures in relation to loans to private and commercial clients in Personal & Corporate Banking, and to private clients of Global Wealth Management Region Switzerland. UBS does not consider the general 90-day presumption for default recognition appropri ate for these latter portfolios based on an analysis of the cure rates, which demonstrated that strict app lication of the 90-day criterion would not accurately reflect the inherent credit risk. Counterparties are also classified as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced; obligations have been restructured on pr eferential terms (forbearance); or there is other evidence that payment obligations will not be fully met without recourse to collateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counterparty is de faulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is identified as POCI. An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted counterparty. Once a financial asset is classified as defaulted / credit-impaired (except when it is POCI), it is reported as a stage 3 inst rument and remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is general evidence of credit recovery. A three - month probation period is applied before a transfer back to stages 1 or 2 can be triggered. However, most instruments remain in stage 3 for a longer period. Measurement of expected credit losses IFRS 9 ECL reflect an unbiased, probability-weighted estimate based on either loss e xpectations resulting from default events over a maximum 12-month period from the reporting date or over the remaining life of a financial instrument. The method used to calculate individual probability-weighted unbiased ECL is based on a combination of th e following principal factors: probability of default (PD), loss given default (LGD) and exposure at default (EAD). Parameters are generally determined on an individual financial asset level. Based on the materiality of the portfolio, for credit card expos ures and personal account overdrafts in Switzerland, and certain loans to financial advisors of Global Wealth Management Region Americas, a portfolio approach is applied that derives an average PD and LGD for the entire portfolio. PDs and LGDs used in the ECL calculation are point in time (PIT)-based for key portfolios and consider both current conditions and expected cyclical changes. For each instrument or group of instruments, parameter time series are generated consisting of the instruments’ PD, LGD and EAD profiles considering the respective period of exposure to credit risk. For material portfolios, PD and LGD are determined for four different scenarios, whereas EAD projections are treated as scenario independent. For the purpose of determining the ECL -relevant parameters, UBS leverages its Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss (EL) and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Adjustments have been made to these models and new IFRS 9-related models have been developed that consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that PDs and LGDs used in the ECL calculation are PIT-based, as opposed to the corre sponding Basel III through-the-cycle (TTC) parameters. All models that are relevant for measuring expected credit losses have been subject to the existing model validation and oversight processes with the Group Model Governance Board as the highest approva l authority. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III are not affected by the IFRS 9 ECL calculation. Probability of default (PD): The PD represents the likelihood of a default over a specified time period. A 12-month PD represents the likelihood of default determined for the next 12 months and a lifetime PD represents the probability of default over the remaining lifetime of the instrument. The lifetime PD calculation is based on a series of 12-month PIT PDs that are derived from TTC PDs and scenario forecasts. This modeling is region-, industry- and client segment-specific and considers both scenario-systematic and client-idiosyncratic information. To derive the cumul ative lifetime PD per scenario, the series of 12-month PIT PDs are transformed into marginal PIT PDs, taking any assumed default events from previous periods into account. Loss given default (LGD): The LGD represents an estimate of the loss at the time of a potential default occurring during the life of a financial instrument. The determination of the LGD takes into account expected f uture cash flows from collateral and other credit enhancements, or expected payouts from bankruptcy proceedings for unsecured claims and, where applicable, time to realization of collateral and the seniority of claims. The LGD is commonly expressed as a pe rcentage of the EAD. Exposure at default (EAD): The EAD represents an estimate of the exposure to credit risk at the time of a potential default occurring during the life of a financial instrument. It represents the cash flows outstanding at the time of de fault, considering expected repayments, interest payments and accruals, discounted at the EIR. Future drawdowns on facilities are considered through a credit conversion factor (CCF) that is reflective of historical drawdown and default patterns and the cha racteristics of the respective portfolios. IFRS 9-specific CCFs have been modeled to capture client segment- and product-specific patterns after removing Basel III standard-specific elements, i.e . , conservatism and focus on a 12-month period prior to defau lt. Estimation of expected credit losses Number of scenarios and estimation of scenario weights The determination of the probability-weighted ECL requires evaluating a range of diverse and relevant future economic conditions, especially with a view to mode ling the non-linear effect of assumptions about macroeconomic factors on the estimate. To accommodate this requirement, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenari o. Each scenario is represented by a specific scenario narrative, which is relevant considering the exposure of key portfolios to economic risks, and for which a set of consistent macroeconomic variables is determined. Those variables range from above-tren d economic growth to severe recession. The baseline scenario is aligned to the economic and market assumptions used for UBS business planning purposes. An econometric model is used to provide an input into the scenario weight assessment process giving a fi rst indication of the probability that the GDP forecast used for each scenario would materialize, if historically observed deviations of GDP growth from trend growth were representative. As such historical analyses of GDP development do not include an asse ssment of the underlying economic or political causes, management positions the model output into the context of current conditions and future expectations and applies material judgment in determining the final scenario weights. The determined weights cons titute the probabilities that the respective set of macroeconomic conditions will occur and not that the chosen particular narratives with the related macroeconomic variables will materialize. Macroeconomic and other factors The range of macroeconomic, ma rket and other factors that is modeled as part of the scenario determination is wide, and historical information is used to support the identification of the key factors. As the forecast horizon increases, the availability of information decreases and judg ment increases. For cycle-sensitive PD and LGD determination purposes, UBS projects the relevant economic factors for a period of three years before reverting, over a specified period, to a cycle-neutral PD and LGD for longer-term projections. Factors rel evant for the ECL calculation vary by type of exposure and are determined during the credit cycle index model development process in close alignment with expert judgment. Certain variables may only be relevant for specific types of exposures, such as house price indices for mortgage loans, while other variables have key relevance in the ECL calculation for all exposures. Regional and client segment characteristics are generally taken into account, with specific focus on Switzerland and the US considering UB S’s key ECL-relevant portfolios. For UBS, the following forward-looking macroeconomic variables represent the most relevant factors in the ECL calculation: GDP growth rates, given their significant effect on borrowers’ performance; house price indices, g iven their significant effect on mortgage collateral valuations; unemployment rates, given their significant effect on private clients’ ability to meet contractual obligations; interest rates, given their significant effect on the counterparties’ abiliti es to service their debt; consumer price indices, given their overall relevance for companies’ performance, private clients’ purchasing power and economic stability; and equity indices, given that they are an important factor in our corporate rating tools . The forward-looking macroeconomic assumptions used in the ECL calculation are developed by UBS economists, risk methodology personnel and credit risk officers. Assumptions and scenarios are validated and approved through a Scenario Committee and an Ope rating Committee, which also aim to ensure a consistent use of forward-looking information throughout UBS, including in the business planning process. ECL inputs are tested and reassessed for appropriateness at least each quarter and appropriate adjustment s are made when needed. Scenario generation, review process and governance All aspects of the scenario selection, including the specific narratives, their weight for the ECL estimation, and the key macroeconomic and other factors, are subject to a formal governance and approval process. A team of economists, who are part of Group Risk Control, provide the basic analysis taking into account information obtained through established risk identification and assessm ent processes, which involve a broad range of experts, in particular, risk specialists and other in-house economists. Material risks with a high likelihood of materializing are then factored into the scenario selection process. Once narratives have been de veloped, key macroeconomic factors that are consistent with the severity of the case and interdependencies are determined. The scenarios, their weight and the key macroeconomic and other factors are subject to a critical assessment by members of the Scenar io Committee, where senior credit officers from the divisions and representatives from Group Risk Control are represented. Important aspects for the review are the extent to which the selected scenarios reflect the vulnerabilities of the relevant portfolio s; whether their transformation into PIT PD and LGD values is in line with credit risk officers’ expectations; and whether there may be pockets of exposures, where particular credit risk concerns may not be capable of being addressed systematically and req uire an expert-based overlay for stage allocation and ECL allowance. This also ensures a consistent use of forward-looking information throughout UBS and an alignment with the business planning process. The Operating Committee is jointly chaired by the Gro up Controller and Chief Accounting Officer, and the Risk Chief Operating Officer and Group Chief Risk Model Officer, and is comprised of the divisional Chief Risk Officers and divisional Chief Financial Officers as well as senior Corporate Center Risk and Finance representatives. They review the proposals submitted by the Scenario Committee and approve the final selection of scenarios and factors and any expert-based overlays as they may be required to cover temporary issues, either related to specific risk elements in a portfolio, or due to identified technical deficiencies pending remediation (model updates, data quality, etc.). The Group Model Governance Board as the highest authority under UBS’s model governance framework ratifies the decisions by the Op erating Committee. ECL measurement period The period for which lifetime ECL are determined is based on the maximum contractual period that UBS is exposed to credit risk, taking into account contractual extension, termination and prepayment options. For ir revocable loan commitments and financial guarantee contracts, the measurement period represents the maximum contractual period for which UBS has an obligation to extend credit. Additionally, some financial instruments include both an on-demand loan and a r evocable undrawn commitment, where the contractual cancelation right does not limit UBS’s exposure to credit risk to the contractual notice period as the client has the ability to draw down funds before UBS can take risk-mitigating actions. In such cases, UBS is required to estimate the period over which it is exposed to credit risk. This applies to UBS’s credit card limits, which do not have a defined contractual maturity date, are callable on demand and where the drawn and undrawn components are managed a s one unit. The exposure arising from UBS’s credit card limits is not significant and is managed at a portfolio level, with credit actions triggered when balances are past due. An ECL measurement period of seven years is applied for credit card limits, cap ped at 12 months for stage 1 balances, as a proxy for the period that UBS is exposed to credit risk. Customary master credit agreements in the Swiss corporate market also include on-demand loans and revocable undrawn commitments. For smaller commercial fa cilities, a risk-based monitoring (RbM) approach is in place that highlights negative trends as risk events, at an individual facility level, based on a combination of continuously updated risk indicators. The risk events trigger additional credit reviews by a risk officer, allowing for informed credit decisions to be taken. Larger corporate facilities are not subject to RbM, but are reviewed at least annually through a formal credit review. UBS has assessed these credit risk management practices and consid ers both the RbM approach and formal credit review as substantive credit reviews resulting in a re-origination of the facility. Following this, a 12-month measurement period from the reporting date is used for both types of facilities as an appropriate pro xy of the period over which UBS is exposed to credit risk, with 12 months also used as a look-back period for assessing SICR, always from the respective reporting date. Significant increase in credit risk Financial instruments subject to ECL are monitored on an ongoing basis. To determine whether the recognition of a maximum 12-month ECL continues to be appropriate, it is assessed whether an SICR has occurred since initial recognition of the financial instrument. The assessment criteria include both quanti tative and qualitative factors. UBS does not make use of the expedient that no particular SICR test is required for instruments that have low credit risk at reporting date. Primarily, UBS assesses changes in an instrument’s risk of default on a quantitativ e basis by comparing the annualized forward-looking and scenario-weighted lifetime PD of an instrument determined at two different dates: at the reporting date; and at inception of the instrument. In both cases, the respective PDs are determined for the residual lifetime of the instrument, i.e., the period between the reporting date and maturity. If, based on UBS’s quantitative modeling, an increase exceeds a set threshold, an SICR is deemed to have occurred and the instrument is transferred to stage 2 w ith lifetime ECL being recognized. The threshold applied varies depending on the original credit quality of the borrower. For instruments with lower default probabilities at inception due to good credit quality of the counterparty, the SICR threshold is set at a higher level than for instruments with higher default probabilities at inception. This implies that for instruments wit h initially lower default probabilities, a relatively higher deterioration in credit quality is needed to trigger an SICR than for those instruments with originally higher PDs. The SICR assessment based on PD changes is made at an individual financial asse t level. A high-level overview of the SICR trigger, which is a multiple of the annualized remaining lifetime PIT PD expressed in rating downgrades that entail the same multiple of PD values, together with the corresponding ratings at origination of an inst rument, is provided in the “SICR thresholds” table below. This simplified view is aligned to internal ratings as disclosed in “Internal UBS rating scale and mapping of external ratings” presented in “Credit risk” in the “Risk management and control” sectio n of this report. The actual SICR thresholds applied are defined on a more granular level interpolating between the values shown in the table below. SICR thresholds Internal rating at origination of the instrument Rating downgrades / SICR trigger 0 – 3 3 4 – 8 2 9 – 13 1 Refer to the “ Risk management and control ” section of this report for more details on the b ank’s internal grading system Irrespective of the SICR assessment based on default probabilities, credit risk is generally deemed to have signif icantly increased for an instrument if the contractual payments are more than 30 days past due. For certain less material portfolios, specifically the Swiss credit card portfolio and the recruitment and retention loans to financial advisors of Global Wealt h Management Region Americas, the 30-day past due criterion is used as the primary indicator of an SICR. Where instruments are transferred to stage 2 due to the 30-day past due criterion, a minimum period of six months is applied before a transfer back to stage 1 can be triggered. For instruments in Personal & Corporate Banking that are between 90 and 180 days past due but have not been reclassified to stage 3, a one-year period is applied before a transfer back to stage 1 can be triggered. Additionally, b ased on individual counterparty-specific indicators, external market indicators of credit risk or general economic conditions, counterparties may be moved to a watch list, which is used as a secondary qualitative indicator for an SICR and hence for a trans fer to stage 2. Exception management is further applied, allowing for individual and collective adjustments on exposures sharing the same credit risk characteristics to take account of specific situations that are not otherwise fully reflected. Instruments for which an SICR since initial recognition is determined based on criteria other than changed default probabilities or watch list items remain in stage 2 for at least six months post resolution of the stage 2 trigger event. The overall SICR determination process does not apply to Lombard loans, securities financing transactions and certain other asset-based lending transactions, because of the risk management practices adopted, including daily monitoring processes with strict remargining requirements. If margin calls are not satisfied, a position is closed out and classified as a stage 3 position. Credit risk officers are responsible for ensuring that the stage allocation of instruments is in line with the requirements of the standard. Identification of a n SICR for accounting purposes is in some aspects different from internal credit risk management processes for loans with increased credit risk, mainly because ECL accounting requirements are instrument-specific, such that a borrower can have multiple expo sures allocated to different stages, and that maturing loans i n stage 2 will migrate to stage 1 upon renewal irrespective of the actual credit risk at that time. Under a risk- based approach, a holistic counterparty credit assessment and the absolute level of risk at any given date will determine what risk mitigating actions may be warranted. Refer to the “ Risk management and control ” section of this report for more information Critical accounting estimates and judgments The calculation of ECL requires management to apply significant judgment and make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to these estimates and assumptions can result in significant changes to the timing and amount of ECL to be recognized. Determination of a significant increase in credit risk IFRS 9 does not include a definition of what constitutes an SICR. UBS’s assessment of whether an SICR has occurred since initial recognition is based on reasonable and supportable forward-looking information, both qualitative and quantitative, and includes significant management judgment. More stringent criteria could significantly increase the number of instruments migrating to stage 2. An IFRS 9 Operating Committee has been established to review and challenge the SICR approach and any potential changes an d determinations made in the quarter. Scenarios, scenario weights and macroeconomic factors ECL reflect an unbiased and probability-weighted amount, which UBS determines by evaluating a range of possible outcomes. Management selects forward-looking scena rios and judges the suitability of respective weights to be applied. Each of the scenarios is based on management’s assumptions around future economic conditions in the form of macroeconomic, market and other factors. Changes in the scenarios and weights, the corresponding set of macroeconomic variables and the assumptions made around those variables for the forecast horizon would have a significant effect on the ECL. An IFRS 9 Scenario Committee, in addition to the Operating Committee, has been established to derive, review and challenge the selection and weights. ECL measurement period Lifetime ECL are generally determined based upon the contractual maturity of the transaction, which significantly affects ECL. The ECL calculation is therefore sensitive t o any extension of contractual maturities triggered by business decisions, consumer behaviors and an increased number of stage 2 positions. In addition, for credit card limits and Swiss callable master credit facilities, judgment is required as UBS must de termine the period over which it is exposed to credit risk. A seven-year period has been applied for credit card limits, capped at 12 months for stage 1 positions, and a 12-month period has been applied for master credit facilities. Modeling and management adjustments A number of complex models have been developed or modified to calculate ECL, with additional management adjustments required. Internal counterparty rating changes, new or revised models and changes to data may significantly affect EC L. The models are governed by UBS’s model validation controls, which aim to ensure independent verification, and are approved by the Group Model Governance Board (GMGB). The management adjustments are approved by the IFRS 9 Operating Committee and endorsed by the GMGB. The Group provides a sensitivity analysis of the effect of scenario selection, scenario weight s and SICR trigger points on ECL measurement within Note 23g . Comparative policy | Policy applicable prior to 1 January 2018 A claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss event has an effect on the future cash flows that can be reliably estimated ( incurred loss approach) . UBS considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms as a result of credit deterioration of the issuer or counterparty. A claim can be a loan or receivable carried at amortized cost, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset . For an off-balanc e sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss (expense) / recovery . Critical accounting estimates and judgments Allowances and provisions for credit losses are evaluated at both a counterparty-specific level and collectively. Judgment is used in making assumptions about the timing and amount of impairment losses. Counterparty-specific allowances and provisions Loans are evalu ated individually for impairment if objective evidence indicates that a loan may be impaired. Individual credit exposures are evaluated on the basis of the borrower’s overall financial condition, resources and payment record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The impairment loss for a loan is the excess of the carrying value of the financial asset over the estimated recoverable amount. The estimated recoverable amount is the p resent value, calculated using the loan’s original effective interest rate, of expected future cash flows, including amounts that may result from restructuring or the liquidation of collateral. If a loan has a variable interest rate, the discount rate for calculating the recoverable amount is the current effective interest rate. Upon impairment, interest income is accrued by applying the original effective interest rate to the impaired carrying value of the loan. All impaired loans are reviewed and analyzed at least annually. Any subsequent changes to the amounts and timing of the expected future cash flows compared with prior estima tes result in a change in the allowance for credit losses and are charged or credited to Credit loss ( expense ) / recovery . An allowance for impairment is reversed only when the credit quality has improved to such an extent that there is reasonable assuranc e of timely collection of principal and interest in accordance with the original contractual terms of the instrument , or the equivalent value thereof. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Write-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses . Recoveries, in part or in full, of amounts previously written off are credited to Credit loss ( expense ) / recovery. Collective allowances and provisions Collective allowances and provisions are calculated for portfolios with similar credit risk characteristics, taking into account historical loss experience and current conditions. The methodology and assumptions used are reviewed regularly t o reduce any differences between estimated and actual loss experience. For all of its portfolios, UBS also assesses whether there have been any unforeseen developments that mi ght result in impairments that are not immediately observable at a counterparty l evel. To determine whether an event-driven collective allowance f |
Netting | i. Netting UBS nets financial assets and liabilities on its balance sheet if (i) it has the unconditional and legally enforceable right to set off the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS and all of the counterparties, and (ii) intends either to settle on a net basis or to realize the asset and settle the liability sim ultaneously. Netted positions include, for example, certain derivatives and repurchase and reverse repurchase transactions with various counterparties, exchanges and clearing houses. In assessing whether UBS intends to either settle on a net bas is, or to realize the asset and settle the liability simultaneously, emphasis is placed on the effectiveness of operational settlement mechanics in eliminating substantially all credit and liquidity exposure between the counterparties. This condition precludes offse tting on the balance sheet for substantial amounts of UBS’s financial assets and liabilities, even though they may be subject to enforceable netting arrangements. For OTC derivative contracts, balance sheet offsetting is generally only permitted in circums tances in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectively accomplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securiti es financing transactions, balance sheet offsetting may be permitted only to the extent that the settlement mechanism eliminates, or results in insignificant, credit and liquidity risk, and processes the receivables and payables in a single settlement proc ess or cycle. Refer to Note 25 for more information |
Derivative financial instruments and hedging | j. Hedge accounting The Group uses derivative and non-derivative instruments to manage exposures to interest rate and foreign currency risks, including exposures arising from forecast transa ctions. The Group continues to apply hedge accounting requirements as set out in IAS 39 . Qualifying instruments may be designated as hedging instruments in (i) hedges of the change in fair value of recognized assets or liabilities (fair value hedges) ; (ii) hedges of the variability in future cash flows attributable to a recognized asset or liability or highly probable forecast transactions (cash flow hedges) ; or (iii) hedges of a net investment in a foreign operation (net investment hedges). At the time a financial instrument is designated in a hedge relationship, UBS formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction and the met hods that will be used to assess the effectiveness of the hedging relationship. Accordingly, UBS assesses, both at the inception of the hedge and on an ongoing basis, whether the hedging instruments, primarily derivatives, have been “highly effective” in o ffsetting changes in the fair value or cash flows associated with the designated risk of the hedged items. A hedge is considered highly effective if the following criteria are met: (i) at inception of the hedge and throughout its life, the hedge is expect ed to be highly effective in achieving offsetting changes in fair value or cash flows attributable to the hedged risk ; and (ii) actual results of the hedge are within a range of 80–125%. In the case of hedging forecast transactions, the transaction must ha ve a high probability of occurring and must present an exposure to variations in cash flows that could ultimately affect the reported net profit or loss. UBS discontinues hedge accounting when (i) it determines that a hedging instrument is not, or has ceas ed to be, highly effective as a hedge ; (ii) the derivative expires or is sold, terminated or exercised ; (iii) the hedged item matures, is sold or repaid ; or (iv) forecast transactions are no longer deemed highly probable. The Group may also discontinue hed ge accounting voluntarily. Hedge ineffectiveness represents the amount by which the changes in the fair value of the hedging instrument differ from changes in the fair value of the hedged item attributable to the hedged risk, or the amount by which changes in the present value of future cash flows of the hedging instrument exceed changes in the present value of expected cash flows of the hedged item. Such ineffec tiveness is recorded in current- period earnings in Other net income from fair value changes on f inancial instruments ( prior to 1 January 2018: Net trading income ) . Interest from derivatives designated as hedging instruments in effective fair value hedge relationships is presented within Interest income from loans and deposits and Interest expense on debt issued , within Net interest income . Interest from derivatives designated as hedging instruments in effective cash flow hedge relationships that is reclassified from other comprehensive income when the hedged transaction affects pr ofit or loss is presented within Interest income from derivative instruments designated as cash flow hedges . Refer to Note 3 for more information Fair value hedges For qualifying fair value hedges, the change in the fair value of the hedging instrument is recognized in the income statement along with the change in the fair value of the hedged item t hat is attributable to the hedged risk. In fair value hedges of interest rate risk, the fair value change of the hedged item attributable to the hedged risk is reflected as an adjustment to the carrying value of the hedged item. If the hedge accounting rel ationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying value is amortized to the income statement over the remaining term to maturity of the hedged item using the effective interest rate method. For a portfolio hedge of interest rate risk, the equivalent change in fair value is reflected within Other financial assets measured at amortized cost or Other financial liabilities measured at amortized cost . If the portfolio hedge relationship is termina ted for reasons other than the derecognition of the hedged item, the amount included in Other financial assets measured at amortized cost or Other financial liabilities measured at amortized cost is amortized to the income statement over the remaining term to maturity of the hedged items using the straight-line method. Cash flow hedges Fair value gains or losses associated with the effective portion of derivatives designated as cash flow hedges for cash flow repricing risk are recognized initially in Other comprehensive income within Equity. When the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to the income statement. If a cash flow hedge of forecast tra nsactions is no longer considered effective, or if the hedge relationship is terminated, the cumulative gains or losses on the hedging derivatives previously reported in Equity remain there until the c ommitted or forecast transactions occur and affect p rof it or loss. If the forecast transactions are no longer expected to occur, the deferred gains or losses are reclassified immediately to the income statement. Hedges of net investments in foreign operations Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in Equity (and presented in the statement of changes in equity and statement of comprehensive inc ome under Foreign currency translation ), while any gains or losses relating to the ineffective and / or undesignated portion (for example, the interest element of a forward contract) are recognized in the income statement. Upon disposal or partial disposal of the foreign operation, the cumulative value of any such gains or losses recognized in Equity associated with the entity is reclassified to Other income . Economic hedges that do not qualify for hedge accounting Derivative instruments that are transacted as economic hedges, but do not qualify for hedge accounting, are treated in the same way as derivative instruments used for trading purposes ; i.e . , realized and unrealized gains and losses are recognized in Other net income from fair value changes on fina ncial instruments ( prior to 1 January 2018: Net trading income ), except for the forward points on certain short- and long-duration foreign exchange contracts, which are reported in Net interest income . Refer to Note 11 for more information k. Embedded derivatives Derivatives may be embedded in other financial instruments (host contracts). For example, they could be represented by the conversion feature embedded in a convertible bond. Such hybrid instruments arise predominantly from the issu ance of certain structured debt instruments. An embedded derivative is generally required to be separated from the host contract (from 1 January 2018: unless the host contract is a financial asset in scope of IFRS 9) and accounted for as a standalone deriv ative instrument at fair value through profit or loss if (i) the host contract is not carried at fair value with changes in fair value reported in the income statement ; (ii) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract ; and (iii) the terms of the embedded derivative would meet the definition of a standalone derivative, were they contained in a separate contract. Typically, UBS applies the fair value option to hybrid instruments (refer to item 3b in this Note for more information), in which case bifurcation of an embedded derivative component is not required. |
Financial guarantee contracts | o. Financial guarantee contracts Policy applicable from 1 January 2018 1 Fin ancial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for an incurred loss because a specified debtor fails to make payments when due in accordance with the terms of a specified debt instrument. UBS issues such financial guarantees to banks, financial institutions and other parties on behalf of clients to secure loans, overdrafts and other banking facilities. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9. For the details of transition effects refer to Note 1c. Certain issued financia l guarantees that are managed on a fair value basis are designated at fair value through profit or loss. Financial guarantees that are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequently measured at the higher of: the amount of ECL (refer to item g in this Note); and the amount initially recognized less the cumulative amount of income recognized as of the reporting date. ECL resulting from guarantees is recorded in the income st atement in Credit loss (expense) / recovery . Comparative policy | Policy applicable prior to 1 January 2018 Financial guarantees that are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequen tly measured at the higher of the amount initially recogniz ed less cumulative amortization and , to the extent a payment under the guarantee has become probable, the present value of the expected payment. Any change in the liability relating to probable exp ected payments resulting from guarantees is recorded in the income statement in Credit loss ( expense ) / recover y. |
Fee income | 4) Fee and commission income and expenses Policy applicable from 1 January 2018 1 UBS earns fee income from a diverse range of services it provides to its clients. Fee income can be divided into two broad cat egories: fees earned from services that are provided over a certain period of time, such as asset or portfolio management, custody services and certain advisory services; and fees earned from point-in-time services such as underwriting fees and brokerage f ees (e.g., securities and derivative execution and clearing). Refer to Note 4 for more information , including the disaggregation of revenues Performance obligations satisfied over time Fees earned from services that are provided over a certain period of time are recognized on a pro rata basis over the service period, provided the fees are not contingent on successfully meeting specified performance criteria that are beyond the control of UBS (see measurement below). Costs to fulfill services over time ar e recorded in the income statement immediately, because such services are considered to be a series of services that are substantially the same from day to day and have the same pattern of transfer. The costs to fulfill neither generate nor enhance the res ources of UBS that will be used to satisfy future performance obligations and cannot be distinguished between those that relate to satisfied and unsatisfied performance obligations. Therefore, these costs do not qualify to be recognized as an asset. Where costs incurred relate to contracts that include variable consideration that is constrained by factors beyond UBS’s control (e.g., successful mergers and acquisitions (M&A) activity) or where UBS has a history of not recovering such costs on similar transac tions), such costs are expensed immediately as incurred. Performance obligations satisfied at a point in time Fees earned from providing transaction-type services are recognized when the service has been completed, provided such fees are not subject to re fund or another contingency beyond the control of UBS. Incremental costs to fulfill services provided at a point in time are typically incurred and recorded at the same time as the performance obligation is satisfied and revenue is earned, and are therefo re not recognized as an asset, e.g., brokerage. Where recovery of costs to fulfill relates to an uncompleted point-in-time service for which the satisfaction of the performance obligation in the contract is dependent upon factors beyond the control of UBS, such as underwriting a successful securities issuance, or where UBS has a history of not recovering such costs through reimbursement on similar transactions, such costs are expensed immediately as incurred. Measurement Fee and commission income is measured based on consideration specified in a legally enforceable contract with a customer, excluding amounts such as taxes collected on behalf of third parties. Consideration can incl ude both fixed and variable amounts. Variable consideration includes refunds, discounts, performance bonuses and other amounts that are contingent on the occurrence or non-occurrence of a future event. Variable consideration that is contingent on an uncert ain event can only be recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue for a contract will not occur. This is referred to as the variable consideration constraint. UBS does not consider the highly probable criterion to be met where the contingency on which income is dependent is beyond the control of UBS. In such circumstances, UBS only recognizes revenue when the contingency has been resolved or an uncertain event has occurred. Examples inc lude asset management performance -l inked fees, which are only payable if the returns of a fund exceed a benchmark and are only recognized after the performance period has elapsed. Similarly, M&A advisory fees that are dependent on a successful client trans action are not recognized until the transaction on which the fees are dependent has been executed. Asset management fees (excluding performance-based fees) received on a periodic basis, typically quarterly, that are determined based on a fixed percentage o f net asset value that has not been established at the reporting date, are estimated and accrued ratably over the period to the next invoice date, except during periods in which market volatility indicates there is a risk of significant reversal. Research revenues earned by the Investment Bank under commission-sharing or research payment account agreements are not recognized until the client has provided a definitive allocation of amounts between research providers, as prior to this UBS generally does not h ave an enforceable right to a specified amount of consideration. Consideration received is allocated to the separately identifiable performance obligations in a contract . Owing to the nature of UBS’s business, contracts that include multiple performance ob ligations are typically those that are con sidered to include a series of similar performance obligations fulfilled over time with the same pattern of transfer to the client, e.g., asset management. As a consequence, UBS is not required to apply significant judgment in allocating the consideration received across the various performance obligations . UBS has taken the prac tical expedient to not disclose information on the allocation of the transaction price to remaining performance obligations in contracts. T his is because contracts are typically less than one year in duration. Where contracts have a longer duration, they are either subject to the variable consideration constraint, with fees calculated on future net asset value, which cannot be included within the transaction price for the contract, or result in revenue being recognized ratably using the output method corresponding directly to the value of the services completed to date and to which UBS would be entitled to invoice upon termination of the cont ract, e.g., loan commitments. Presentation of fee and commission income and expense Fee and commission income and expense are presented gross on the face of the income statement when UBS is considered to be principal in the contractual relationship with its customer and any suppliers used to fulfill such contracts. This occurs where UBS has control over such services and its relationship with suppliers prior to provision of the service to the client. UBS only considers itself to be an agent in relation to ser vices provided by third parties, e.g., third-party execution costs for exchange-traded derivatives and fees payable to third-party research providers, where the client controls both the choice of supplier and the scope of the services to be provided. F urthermore , in order to be considered an agent UBS must not take responsibility for the quality of the service, transform or integrate the services into a UBS product. In such circumstances UBS is essentially acting as a payment agent for its client. When UBS is acting as an agent, any costs incurred are directly offset against the associated income. Presentation of expenses in the income statement UBS presents expenses primarily in line with their nature in the income statement, differentiating between ex penses that are incremental and incidental to revenues, which are presented within Total operating income , and those that are related to personnel, general and administrative expenses, which are presented within Total operating expenses . Contract assets, contract liabilities and capitalized expenses UBS has applied the practical expedient of allowing for costs incurred to obtain a contract to be expensed as incurred where the amortization period for any asset recognized would be less than 12 months. Wher e UBS provides services to clients, consideration is due immediately upon satisfaction of a point-in-time service or at the end of a prespecified period for a service performed over time; e.g., certain asset management fees are collected monthly or quarter ly, through deduction from a client account, deduction from fund assets or through separate invoicing. Where receivables are recorded, they are presented within Other financial assets measured at amortized cost . Contract liabilities relate to prepayments received from customers where UBS is yet to satisfy its performance obligation. Contract assets are recorded when an entity’s right to consideration in exchange for services transferred is conditional on something other than the passage of time, e.g., the entity’s future performance. UBS has not recognized any material contract assets, contract liabilities or capitalized expenses during the period and has therefore not provided a contract balances reconciliation. Comparative policy | Policy applicable prior to 1 January 2018 Fees earned from services that are provided over a certain period of time are recognized ratably over the service period, with the exception of performance-linked fees or fee components with specific performance criteria. Such fees are recognized when , as of the reporting date, the performance benchmark has been met and when collect i bility is reasonably assured. Fees earned from providing transaction-type services are recognized when the service has been completed and the fee is fixed or determinable , i.e . , not subject to refund or adjustment. Fee income generated from providing a service that does not result in the recognition of a financial instrument is presented within Net fee and commission income. Fees generated from the acquisition, issue or disposal of a financial instrument are presented in the income statement in line with the balance sheet classification of that financial instrument. Refer to Note 4 for more information 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 15. For the details of transition effects refer to Note 1b. |
Cash and cash equivalents | 5) Cash and cash equivalents For the purpose of the statement of cash flows, cash and cash equivalents comprise balances with an original maturity of three months o r less, including cash, money market paper and balances at central and other banks. |
Equity participation and other compensation plans | 6) Share-based and other deferred compensation plans Share-based compensation plans UBS has established share-based compensation plans that are settled in UBS‘s equity inst ruments or an amount that is based on the value of such instruments. T h ese awards are generally subject to conditions that require employees to complete a specified period of service and, for performance shares, to satisfy specified performance conditions . Compensation expense is recognized, on a per- tranche basis, over the service period based on an estimate of the number of instruments expected to vest and is adjusted to reflect actual outcomes. Where the service period is shortened, for example in the ca se of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are eligible for retirement or who have met certain age and length- of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable until the legal vesting date if certain non-vesting conditions are not met . For equity-settled awards, forfeiture events resulting from breach of a non-vesting condition do not result in an adjustment to expense. Compensation expense is measured by reference to the f air value of the equity instruments on the date of grant adjusted, when relevant, to take into account the terms and conditions inherent in the award, including dividend rights, transfer restrictions in effect beyond the vesting date, and non-vesting conditions. For eq uity - settled instruments, fair value is determined at the date of grant and is not remeasured unless their terms are modified such that the fair value immediately after modification exceeds the fair value immediately prior to modification. Any increase in fair value resulting from a modification is recognized as compensation expense, either over the remaining service period or, for vested awards, immediately. For cash-settled awards, fair value is remeasured at each reporting date such that the cumulative e xpense recognized equals the cash distributed. Refer to Note 30 for more information Other compensation plans UBS has established deferred compensation plans that are settled in cash or financial instruments other than UBS equity , the amount of which may be fixed or may vary based on the achievement of specified performance conditions or the value of specified underlying assets. Compensation expense is recognized over the period that the employee provides services to become entitled to the aw ard. Where the service period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is require d, such as for employees who are eligible for retirement or who have met certain age and length-of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. The amount recognized is based on the present value of the amount expected to be paid under the plan and is remeasured at each reporting date, so that the cumulative expense recognized equals the cash or the fair value of respective financial instruments distr ibuted. Refer to Note 30 for more information |
Pension and other post-employment benefit plans | 7) Pension and other post-employment benefit plans UBS sponsors various pos t-employment benefit plans for its employees worldwide, which include defined benefit and defined contribution pension plans, and other post-employment benefits such as medical and life insurance benefits that are payable after the completion of employment . Refer to Note 29 for more information Defined benefit plans UBS offers defined benefit pension and medical insurance benefits. Defined benefit plans specify an amount of benefit that an employee will receive, which usually depends on one or more factors , such as age, years of service and compensation. The defined benefit liability recognized in the balance sheet is the present value of the defined benefit obligation less the fair value of the plan assets at the balance sheet date , with chang es resulting from remeasurements recorded immediately in Other comprehensive income . If the fair value of the plan assets is higher than the present value of the defined benefit obligation, the recognition of the resulting net defined benefit asset is limi ted to the present value of economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. UBS applies the projected unit credit method to determine the present value of its defined benefit obligations, the related current service cost and, where applicable, past service cost. The projected unit credit method sees each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obli gation. These amounts, which take into account the specific features of each plan, including risk sharing between employee and employer, are calculated periodically by independent qualified actuaries. Critical accounting estimates and judgments The net defined benefit liability or asset at the balance sheet date and the related personnel expense depend on the expected future benefits to be provided, determined using a number of economic and demographic assumptions. A range of assumptions could be applied , and different assumptions could significantly alter the defined benefit liability or asset and pension expense recognized. The most significant assumptions include life expectancy, the discount rate, expected salary increases, pension increases and, in a ddition for the Swiss plan and one of the US defined benefit pension plans, interest credits on retirement savings account balances. Life expectancy is determined by reference to published mortality tables. The discount rate is determined by reference to t he rates of return on high-quality fixed-income investments of appropriate currency and term at the measurement date. The assumption for salary increases reflects the long-term expectations for salary growth and takes into account historical salary develop ment by age groups, expected inflation and expected supply and demand in the labor market. A sensitivity analysis for reasonable possible movements in each significant assumption for UBS‘s post-employment obligations is provided within Note 2 9 . Defined co ntribution plans A defined contribution plan is a pension plan under which UBS pays fixed contributions into a separate entity from which post-employment and other benefits are paid. UBS has no legal or constructive obligation to pay further contributions if the plan does not hold sufficient assets to pay employees the benefits relating to employee service in the current and prior periods. UBS’s contributions are expensed when the employees have rendered services in exchange for such contributions. This is generally in the year of contribution. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. |
Income taxes | 8) Income taxes UBS is subject to the income tax laws of Switzerland and those of the n on-Swiss jurisdictions in which UBS has business operations. The Group’s provision for income taxes is composed of current and deferred taxes. Current income taxes represent taxes to be paid or refunded for the current period or previous periods . Deferre d taxes are recognized for temporary differences between the carrying amounts and tax bases of assets and liabilities that will result in taxable or deductible amounts in future periods and are measured using the applicable tax rates and laws that have bee n enacted or substantively enacted by the end of the reporting period and which will be in effect when such differences are expected to reverse . Deferred tax assets arise from a variety of sources, the most significant being: (i) tax losses that can be car ried forward to be used against profits in future years ; and (ii) temporary differences that will result in deductions against profits in future years . Deferred tax assets are recognized only to the extent that it is probable that sufficient taxable profit s will be available against which these differences can be used . When an entity or tax group has a history of recent losses, deferred tax assets are only recognized to the extent there are sufficient taxable temporary differences or there is convincing oth er evidence that sufficient taxable profit will be available against which the unused tax losses can be utilized . Deferred tax liabilities are recognized for temporary differences between the carrying amounts of assets and liabilities in the balance sheet that reflect the expectation that certain items will give rise to taxable income in future periods. Deferred and current tax as sets and liabilities are offset when (i) they arise in the same tax reporting group ; (ii) they relate to the same tax authority ; (iii) t he legal right to offset exists; and (iv) they are intended to be settled net or realized simultaneously. Current and deferred taxes are recognized as income tax benefit or expense in the income statement except for current and deferred taxes recognized (i) upon the acquisition of a subsidiary (for which such amounts would affect the amount of goodwill arising from the ac quisition); (ii) for gains and losses on the sale of treasury shares (for which the tax effects are recognized directly in Equity ); (iii) for unrealized gains or losses on financial instruments that are classified as FVOCI (prior to 1 January 2018 : financi al assets classified as available for sale); (iv) for changes in fair value of derivative instruments designated as cash flow hedges; (v) for remeasurements of defined benefit plans; or (vi) for certain foreign currency translations of foreign operations. Amounts relating to points (iii) through ( vi ) are recognized in Other comprehensive income within Equity . UBS reflects the potential effect of uncertain tax positions using exp ected value (i.e., a probability- weighted approach), except where the likelihood of loss is remote (less than 5%). Critical accounting estimates and judgments Tax laws are complex , and judgment and interpretations about the application of such laws are required when accounting for income taxes. UBS considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its deferred tax assets, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing deferred tax assets. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. The level of deferred tax asset recogn ition is influenced by management’s assessment of UBS’s future profitability based on relevant business plan forecasts. Existing assessments are reviewed and, if necessary, revised to reflect changed circumstances. This review is conducted annually, in the fourth quarter of each year, but adjustments may be made at other times, if required. In a situation where recent losses have been incurred, convincing other evidence that there will be sufficient future profitability is required. If profit forecast assum ptions in future periods deviate from the current outlook, the value of UBS’s deferred tax assets may be affected. Any increase or decrease in the carrying amount of deferred tax assets would primarily be recognized through the income statement but would n ot affect cash flows. In addition , judgment is required to assess the expected value of uncertain tax positions that are incorporated into the estimate of income and deferred tax and the assessment of the related probabilities, including in relation to the interpretation of tax laws, the resolution of any income tax-related appeals or litigation and the assessment of the related probabilities. Refer to Note 8 for more information |
Investment in associates | 9) Investment s in associates Interests in e ntities where UBS has significant influence over the financial and operating policies of the entity, but does not have control, are classified as investments in associates and accounted for under the equity method of accounting. Typically, UBS has signific ant influence when it holds or has the ability to hold between 20% and 50% of a company’s voting rights. Investments in associates are initially recognized at cost, and the carrying amount is increased or decreased after the date of acquisition to recogniz e the Group’s share of the investee’s comprehensive income and any impairment losses. The net investment in an associate is impaired if there is objective evidence of a loss event and the carrying value of the investment in the associate exceeds its recoverable amount . Refer to Note 31 for more information |
Property, equipment and software | 10) Property, equipment and software Property, equipmen t and software includes own-used properties, leasehold improvements, information technology hardware, externally purchased and internally generated software, as well as communication and other similar equipment. Property, equipment and software is carried at cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indication for impairment. Software development costs are capitalized only when the costs can be measured reliably and it is probable that future economi c benefits will arise. Depreciation of property, equipment and software begins when they are available for use (i.e., when they are in the location and condition necessary for them to be capable of operating in the manner intended by management ) . Depreciat ion is calculated on a straight-line basis over an asset ‘s estimated useful life. The estimated useful economic lives of UBS‘s property, equipment and software are: properties, excluding land: ≤ 67 years IT hardware and communication equipment: ≤ 7 years other machines and equipment: ≤ 10 years software: ≤ 10 years leasehold improvements: shorter of the lease term or the economic life of asset (typically ≤ 20 years) Refer to Note 15 for more information |
Goodwill and intangible assets | 11) Goodwill and intangible assets Goodwill represents the excess of the cost of an acquisition over the fair value of the Group‘s share of net identifiable assets of the acquired entity at the date of the acquisition. Goodwill is not amortized, but at the end of each reporting period or when indica tors of impairment exist, UBS assesses whether there is any indication that goodwill is impaired. If such indicators exist, UBS is required to test the goodwill for impairment. Irrespective of whether there is any indication of impairment, UBS tests goodwi ll for impairment annually. For the 2017 annual test, UBS considered the segments, as they are reported in Note 2a, as separate cash-generating units, since that was the level at which the performance of investments (and the related goodwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Management, UBS continued to separately monitor the goodwill previous ly allocated to the two former business divisions. As a consequence, for the purpose of goodwill impairment testing, the former Wealth Management and Wealth Management Americas business divisions are considered to be two separate cash-generating units refe rred to in Note 16 as Global Wealth Management Americas 1 and Global Wealth Management ex Americas. The remaining goodwill balances continued to be tested at the level of Asset Management and the Investment Bank, respectively, consistent with the 2017 annu al test. The impairment test is performed for each cash- generating unit to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, to the carrying amount of the respective cash-generating unit. An impairment charge is r ecognized in the income statement if the carrying amount exceeds the recoverable amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of UBS‘s goodwill may become impaired in the future, giv ing rise to losses in the income statement. Recognition of any impairment of goodwill would reduce net profit and equity, but would not affect cash flows. Intangible assets are comprised of separately identifiable intangible items arising from business com binations and certain purchased trademarks and similar items. Intangible assets are recognized at cost. The cost of an intangible asset acquired in a business combination is its fair value at the date of acquisition. Intangible assets with a finite useful life are amortized using the straight-line method over their estimated useful life, generally not exceeding 20 years. In rare cases, intangible assets can have an indefinite useful life, in which case they are not amortized. At each reporting date, intangi ble assets are reviewed for indications of impairment. If such indications exist, the intangible assets are analyzed to assess whether their carrying amount is fully recoverable. An impairment loss is recognized if the carrying amount exceeds the recoverab le amount. Critical accounting estimates and judgments UBS‘s methodology for goodwill impairment testing is based on a model that is most sensitive to the following key assumptions: (i) forecasts of earnings available to shareholders in years one to three ; (ii) changes in the discount rates ; and (iii) changes in the long-term growth rate. The key assumptions are linked to external market information, where applicable. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts, the vi ew of management a nd regional differences in risk- free rates, at the level of individual cash-generating units. Long-term growth rates are determined in a consistent manner based on nominal or real GDP growth rate forecasts, considering different regions w orldwide as incorporated in the business plan approved by the BoD. The k ey assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying reasonably possible changes to tho se assumptions. Refer to Note 16 for details on how the reasonably possible ch anges may affect the results of UBS‘s model for goodwill impairment testing. Refer to Notes 2 and 16 for more information |
Provisions and contingent liabilities | 12) Provisions and conting ent liabilities Provisions are liabilities of uncertain timing or amount, and are recognized when : (i) UBS has a present obligation as a result of a past event; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) a reliable estimate of the amount of the obligation can be made. The majority of UBS’s provisions relate to litigation, regulatory and similar matters, restructuring, employee benefits, real estate and loan commitments and guarantees. The Group re cognizes provisions for litigation, regulatory and similar matters when, in the opinion of management after seeking legal advice, the requirements for recognition have been met. Where these factors are otherwise satisfied, a provision may be established fo r claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. Management may und ertake restructuring activities, i.e., a planned and controlled program that ma terially changes e i ther the scope of the business or the manner in which it is conducted. Restructuring provisions are recognized when a detailed and formal restructuring plan has been approved and a valid expectation has been raised that the restructuring will be carried out, either through commencement of the plan or announcements to affected employees. Provisions are recognized for lease contracts if the unavoidable costs of a contract exceed the benefits expected to be received under it (onerous lease c ontracts). For example, this may occur when a significant portion of a leased property is expected to be vacant for an extended period. Provisions for employee benefits are recognized mainly in respect of service anniversaries and sabbatical leave. Provisions are recognized at the measurement point that represents our best estimate of the consideration required to settle the present obligation at the balance sheet date. Such estimates are based on all available information and are revised over time a s more information becomes available. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to settle or discharge the obligation, using a rate that reflects the curren t market assessments of the time value of money and the risks specific to the obligation. Provisions that are similar in nature are aggregated to form a class, while the remaining provisions, including those of less significant amounts, are disclosed und er Other provisions . Provisions are presented separately on the balance sheet and, when they are no longer considered uncertain in timing or amount, are reclassified to other liabilities . When all conditions required to recognize a provision are not met, a contingent liability is disclosed, unless the likelihood of an outflow of resources is remote. Contingent liabilities are also disclosed for possible obligations that arise from past events whose existence will be confirmed only by uncertain future events not wholly within the control of UBS. Such disclosures are not made if it is not practicable to do so. Critical accounting estimates and judgments Recognition of provisions often involves significant judgment in assessing the existence of an obligation that results from past events and in estimating the probability, timing and amount of any outflows of resources. This is particularly the case for litigation, regulatory and similar matters, which, due to their nature, are subject to many uncertainties mak ing their outcome difficult to predict. Such matters may involve unique fact patterns or novel legal theories, proceedings that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by t he claimants. Determining whether an obligation exists as a result of a past event and estimating the probability, timing and amount of any potential outflows is based on a variety of assumptions, variables, and known and unknown uncertainties. The amount of any provision recognized is sensitive to the assumptions used and there could be a wide range of possible outcomes for any particular matter. Statistical or other quantitative analytical tools are of limited use in determining whether to establish or de termine the amount of provisions in the case of litigation, regulatory or similar matters. Furthermore, information currently available to management may be incomplete or inaccurate, increasing the risk of erroneous assumptions with regard to the future de velopment of such matters. Management regularly reviews all the available information regarding such matters, including legal advice, which is a significant consideration, to assess whether the recognition criteria for provisions have been satisfied and to determine the timing and amount of any potential outflows. Refer to Note 21 for more information |
Foreign currency translation | 13) Foreign currency translation Transactions denominated in a foreign currency are translated into the functional currency of the reporting entity at the spot exchange rate on the date of the transaction. At the balance sheet date, all monetary assets including those at FVOC I ( prior to 1 January 2018: monetary financial assets classified as available for sale ) and monetary liabilities denominated in foreign currency are translated into the functional currency using the closing exchange rate. Translation differences (which for monetary financial assets at FVOCI are determined as if they were financial assets measured at amortized cost) are reported in Other net income from fair value changes on financial instruments (prior to 1 January 2018: Net trading income ). Non-monetary it ems measured at historical cost are translated at the exchange rate on the date of the transaction. Prior to 1 January 2018, f oreign currency translation differences on non-monetary financial assets classified as available for sale were recorded directly i n Equity until the asset was derecognized . Upon consolidation, assets and liabilities of foreign operations (which from 1 October 2018 also include UBS’s Swiss-based operations with Swiss franc functional currency) are translated into US dollars, UBS’s presentation currency, at the closing exchange rate on the balance sheet date, and income and expense items and other comprehensive income are translated at the average rate for the period. The resulting foreign currency translation differences attributabl e to shareholders are recognized in Foreign currency translation within Equity, which forms part of Total equity attributable to shareholders , whereas the foreign currency translation differences attributable to non-controlling interests are included withi n Equity attributable to non-controlling interests . Shar e capital issued, share premium and treasury shares held are translated at the historic average rate, whereby the difference between the historic average rate and the spot rate realized upon repayment of share capital or disposal of treasury shares is reported as Share premium. Cumulative amounts recogniz ed in OCI in respect of cash flow hedges and financial assets measured at FVOCI ( prior to 1 January 2018 : financial assets classified as available for sale) are translated at the closing exchange rate as of balance sheet dates, with any translation effects adjusted through Retained earnings . When a foreign operation is disposed or partially disposed of and UBS no longer controls the foreign operation, the cumulative amount of foreign currency translation differences within Total equity attributable to shareholders and Equity attributable to non-controlling interests related to that foreign operation is reclassified to the income statement as part of the gain or loss on disposal. Similarly, if an investment in an associate becomes an investment in a subsidiary, the cumulative amount of foreign currency translation differences is reclassified to profit or loss. When UBS disposes of a portion of its interes t in a subsidiary that includes a foreign operation but retains control, the related portion of the cumulative currency translation balance is reclassified to Equity attributable to non-controlling interests . Refer to Note 37 for more information Critical accounting estimates and judgments The determination of an entity’s functional curren cy and the trigger for a change requires management to apply significant judgment and assumptions. IAS 21, The Effects of Changes in Foreign Exchange Rate s , requires management to consider the underlying transactions, events and conditions that are relevant to the entity when determining the appropriate funct ional currency and any changes. UBS’s conclusion, in the fourth quarter of 2018, that the functional cu rrency of UBS Group AG, UBS AG’s Head Office in Switzerland and UBS AG’s London Branch has changed was based on a detailed assessment of the primary currencies affect ing and influencing the economics of each entity, considering revenue generating income st reams, expenses, funding and risk management activities. In addition, determining the earliest date from which it is practicable to perform a restatement following a voluntary change in presentational currency also requires management to apply significant judgment and make estimates and assumptions. UBS’s decision in 2018 to change the presentation currency of UBS Group AG’s consolidated financial statements from Swiss francs to US dollars was made in line with IAS 8, Accounting Policies, Changes in Account ing Estimates and Errors , by assessing the earliest date from which it was practicable to perform a restatement, taking into consideration whether sufficiently reliable data wa s available for earlier periods and whether any assumptions on management intent or significant estimates of amounts were required. UBS carried out a detailed and extensive data analysis before concluding that 1 January 2004 represented the earliest date available, with the consequence that foreign currency translation gains and losse s prior to 2004 have been disregarded and foreign currency translation effect s first calculate d from 1 January 2004 onward . Refer to Note 1 b for more information |
Equity, treasury shares and contracts on UBS Group AG shares | 14) Equity, treasury shares and contracts on UBS Group AG shares Non-controlling interests Net profit is split into Net profit attributable to shareholders and Net profit attributable to non-controlling interests ( including net profit attributable to preferred noteholders, if any) . Similarly, Equity is split into Equity attributable to shareholders and Equity attributable to non-controlling interests (including e quity attributable to preferred noteholders, if any) . Non-controlling interests subject to option arrangements, e.g., written puts, are generally deemed to be acquired by UBS. As a result, the amounts allocated to non-controlling interests are reduced accordingly and a liability for the options’ exercise pri ce is recognized, with any difference between these two amounts recorded in Share premium. UBS Group AG shares held (treasury shares) UBS Group AG shares held by the Group , including those purchased as part of market-making activities, are presented in Eq uity as Treasury shares at their acquisition cost and are deducted from Equity until they are canceled or reissued. The difference between the proceeds from sales of treasury shares and their weighted average cost (net of tax, if any) is reported as Share premium . Net cash settlement contracts Contracts on UBS Group AG shares that require net cash settlement, or provide the counterparty or UBS with a settlement option that includes a choice of settling net in cash, are classified as held for trading derivat ives , with changes in fair value reported in the income statement as Other net income from fair value changes on financial instruments . |
Leasing | 15) Leasing UBS enters into lease contracts, or contracts that include lease components, predominantly of premises and equipment, and primarily as lessee. Leases that transfer substantially all the risks and rewards, but not necessarily legal title in the underlying assets, are classified as finance leases. All other leases are classified as operating leases. UBS is not a lessee in any material finance leases. Lease contracts classified as operating leases where UBS is the lessee include non-cancelable long-term leases of office buildings in most UBS locations. Operating lease rentals payable are recognized as an expense on a straight-line basis over the lease term, which commences with control of the physical use of the property. Lease incentives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term. Where UBS acts as less or under a finance lease, a receivable is recognized in Other financial assets measured at amortized cost at an amount equal to the present value of the aggregate of the minimum lease payments plus any unguaranteed residual value that UBS expects to recove r at the end of the lease term. Initial direct costs are also included in the initial measurement of the lease receivable. Lease payments received during the lease term are allocated to repayment of the outstanding receivable and interest income to reflect a constant periodic rate of return on UBS’s net investment using the interest rate implicit in the lease. UBS reviews the estimated unguaranteed residual value annually, and if the estimated residual value to be realized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Certain arrangements do not take the legal form of a lease but convey a right to use an asset in return for a payment or series of payments. For such arrangements, UBS determines at the in ception of the arrangement whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets , and if so, the arrangement is accounted for as a lease. Refer to Note 33 for more information |
UBS AG | |
Significant Accounting Policies [Line Items] | |
Basis of accounting | Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are presented in US dollars ( USD ), which is also the functional currency of UBS AG’s Head Office, UBS AG’s London Branch and UBS AG’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as audited form an in tegral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures , and IAS 1, Presentation of Financial Statements , and are not repeated in this section. The accounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. In addition, effective from 1 January 2018, UBS AG applies IFRS 9, Financial Instruments , which substantially changes the accounting for financial assets, and IFRS 15, Revenue from Contracts with Customers , which affects the Group’s revenue recognition, measurement and presentation. Within this note, policies f or prior periods that differ from those applied to the financial year ended 31 December 2018 are id entified as “Comparative policy . ” |
Critical accounting estimates and judgments | Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS AG regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions , updat ing them as necessary. Changes in those estimates and assumptions may have a significant effect on the Financial Statements. Further, actual resu lts may differ significantly from UBS AG ’s estimates, which could result in significant loss es to UBS AG , beyond what was anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 24 ) allowances and provisions for expected credit losses (refer to item 3g in this Note and to Note 23 ) assessmen t of the business model and certain contractual features when classifying financial instruments (refer to item 3b in this Note) pension and other post-employment benefit plans (refer to it em 7 in this Note and to Note 29 ) income taxes (refer to item 8 in this Note and to Note 8) goodwill (refer to ite m 11 in this Note and to Note 16 ) provisions and contingent liabilities (refer to item 12 in this Note and to Note 21 ) consolidation of structured entities (refer to item 1 in this Note and to Not e 31) deter mination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency (refer to item 1 3 in this Note and to Not e 1b) |
Consolidation Structured entities | 1) Consolidation a. Consolidation principl es The Financial Statements comprise the financial statements of UBS AG and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS AG consolidates all entities that it controls, inc luding controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity ; (ii) exposure to an entity ‘s variable returns ; and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS AG ha s an interest in an entity that exposes it to variability, UBS AG considers whether it has power over the relevant a ctivities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether UBS AG has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements ( such as call rights, put rights or liquidation rights ) as well as potential decision-ma king rights are all considered in this assessment. Where UBS AG has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held i n a principal or agent capacity. Consideration is given to : (i) the scope of decision-making authority ; (ii) rights held by other parties, including removal or other participating rights ; and (iii) exposure to variability, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidi aries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 31 for more information b. Structured entities UBS AG sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, incl uding allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who contro ls the entity. Such entities generally have a narrow and well-defined objective and include those hist orically referred to as special- purpose entities , as well as some investment funds. UBS AG assesses whether an entity is an SE by considering the nature o f the activities of the entity as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS AG considers rights such as the ability to liquidate the entity or remove the decisi on maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SE s. Client investment structured entities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS AG or through an external market transaction. In some cases, UBS AG may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In c ertain cases, UBS AG may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does not have a substantive effect on variability, or are actively managed , and investors or their governing bodies do not have substantive voting or similar rights. UBS AG creates and sponsors a large number of funds in which it may have an interest through the receipt of variable management fees and / or a direct investment. In addition, UBS AG has interests in a number of funds created and sponsored by third parties, including exchange-traded funds a nd hedge funds, to hedge issued structured products. When UBS AG does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting e stimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS AG ’s involvement are unique to each entity, there is no uniform consolidation outcome by entity. Certain entities within a class may be consolidated while others may not. When carrying out the consolidation assessment, judgment is exercised considering all t he relevant facts and circumstances, including the nature and activities of the investee, as well as the substance of voting and similar rights. Refer to Note 31 for more information |
Segment reporting | 2) Segment reporting Prior to the first quarter 2018, UBS AG‘s businesses were organized globally into five business divisions: W ealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualif ied as reportable segments for the purpose of segment r eporting and, together with Corporate Center, reflect ed the management structure of UBS . AG Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Corporate Center. Financial information about the fiv e business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Group ALM), Non-core and Legacy Portfolio) was presented separately in internal reporting to management . Effective from the first quarter of 2018, U BS AG combined its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. Global Wealth Management is managed on an integrated basis, with a single set of performance targets and an int egrated operating plan and management structure. Consistent with this, the operating results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports. Consequently, from 2018, Global Wealth Management qua lifies as an operating and reportable segment for the purposes of segment reporting and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Bank and Corporate Center (with its units Services, Group ALM and Non-core and Legacy Portfolio). Following the change in the composition of UBS AG’s operating segments and corresponding reportable segments, previously reported segment information has been restated. This change has no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information UBS AG ’s internal accounting policies, which include management accounting policies and service level agreements, deter mine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commissions are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for UBS AG are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Interest income earned from managing UBS AG ’s consolidated equity is allocated to the reportabl e segments based on average attributed equity and currency composition . Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each rep ortable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to management . Certain assets managed centrally by Corporate Center – Services and Corporate Center – Gro up ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center , notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the operating segments. Similarly, certain assets are reported in the business divi sions, whereas the corresponding costs or revenues are entirely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recov ered more than 12 months after the reporting date, excluding financial instruments, deferred tax assets and post-employment benefits. Refer to Note s 1 b and 2 for more information |
Financial instruments | 3) Financial instruments a. Recognit ion UBS AG recognizes financial instruments when it becomes a party to the contractual provisions of the instrument. UBS AG applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS AG acts a s a transferee, to the extent that the transfer of a financial asset does not qualify for derecognition by the t ransferor, UBS AG does not recogniz e the transferred instrument as its asset. UBS AG also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS AG’s balance sheet. Consequently, the related income i s excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, UBS AG neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instr uments are initially measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOCI) , the initial fair value is adjusted for directly attributable transaction cos ts. Policy applicable from 1 January 2018 1 On initial recognition, financial assets are classified as measured at amortized cost, FVOCI, or fair value through profit or loss (FVTPL). A debt instrument is measured at amortized cost if it meets the followin g conditions: it is held within a business model that has an objective to hold financial assets to collect contractual cash flows ; and the contractual terms of the financial asset result in cash flows that are solely payments of principal and interest (SPP I) on the principal amount outstanding. A debt instrument is measured at FVOCI if it meets both of the following conditions: it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial ass ets ; and the contractual terms of the financial asset result in cash flows that are SPPI on the principal amount outstanding . All other financial assets are measured at FVTPL and consist of held for trading assets, assets mandatorily measured on a fair va lue basis and derivatives, except to the extent that they are designated in a hedging relationship, in which case the IAS 39 hedge accounting requirements continue to apply. Business model assessment UBS AG determines the nature of the business model, for example if the objective is to hold the financial asset and collect the contractual cash flows, by considering the way in which the financial assets are managed to achieve a particular business objective as determined by management. Financial assets that are held for trading or managed on a fair value basis are measured at FVTPL insofar as the associated business model is neither to hold the financial assets to collect contractual cash flows nor to hold to collect contractual cash flows and sell. UBS AG o riginates loans to hold to maturity and to sell or sub-participate to other parties, resulting in a transfer of substantially all the risks and rewards, and derecognition of the loan or portions of it. UBS AG considers the activities of lending to hold and lending to sell or sub-participate as two separate business models, with financial assets within the former considered to be within a business model that has an objective to hold the assets to collect contractual cash flows, and those within the latter i ncluded in a trading portfolio. In certain cases, it may not be possible on origination to identify whether loans or portions of loans will be sold or sub-participated and certain loans may be managed on a fair value basis through, for instance, using cred it derivatives. These financial assets are mandatorily measured at FVTPL. Critical accounting estimates and judgments UBS AG exercises judgment in determining the appropriate level at which to assess its business models. In general, the assessment is performed at the product level, e.g., retail and commercial mortgages. In other cases, the assessment is carried out at a more granular level, e.g., loan portfolios by region, and, if required, further disaggregation is performed by business strategy. A de tailed assessment is carried out considering how the financial assets are evaluated and reported to UBS AG’s key management, the risks that affect the performance of the business and the way that management is compensated. In addition, UBS AG exercises jud gment in determining the effect of sales of financial instruments on the business model assessment. In particular, an assessment is made on whether and the extent to which sales are consistent with the objective of the business model. Contractual cash flow characteristics In assessing whether the contractual cash flows are SPPI, UBS AG considers whether the contractual terms of the financial asset contain a term that could change the timing or amount of contractual cash flows arising o ver the life of the instrument, which could affect whether the instrument is considered to meet the SPPI criterion. For example, UBS AG holds portfolios of private mortgage contracts and corporate loans in Personal & Corporate Banking that commonly contain clauses that provide for two-way compensation if prepayment occurs. The amount of compensation paid by or to UBS AG reflects the effect of changes in market interest rates. UBS AG has determined that the inclusion of the change in market interest rates in the compensation amount is reasonable for the early termination of the contract, and therefore results in contractual cash flows that are SPPI. Critical accounting estimates and judgments UBS AG applies judgment when considering whether certain contractual features, such as interest rate reset frequency or non-recourse features, significantly affect future cash flows and whether compensation paid or received on early termination of lending arrangements results in cash flows that are not SPPI. A t horough analysis of all relevant facts and circumstances is assessed before concluding whether contractual cash flows of the financial instrument are consistent with payments representing principal and interest. After initial recognition, UBS AG classif ies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. 1 The accounting policy in this section applies from 1 January 2018, the effective d ate of IFRS 9. For the details of transition effects refer to Note 1c. Classification, measurement and presentation of financial instruments from 1 January 2018 Measured at amortized cost A debt financial asset is measured at amortized cost if: it is held in a business model that has an objective to hold assets to collect contractual cash flows; and the contractual terms give rise to cash flows that are SPPI . This classification includes: cash and balances at central banks loans and advances to banks cash collateral receivable s on securities borrowed receivables on reverse repurchase agree ments cash collateral receivables on derivative instruments residential and commercial mortgages corporate loans secured loans, including Lombard loans, and unsecured loans loans to financial advisors debt securities held as high-quality liquid assets (HQLA) fee and lease receivables . Measured at amortized cost using the effective interest rate (EIR) method less allowances for expected credit losses (ECL) (refer to items 3c and 3g in this Note for more information). The following items are recognized in the income statement: i nterest in come, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses . Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments – when it is probable that UBS AG will enter into a specific lending relationship – are deferred and amortized over the life of the loan using the EIR method. When the financial asset at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared throu gh central clearing counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note ) are presented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI A debt financial asset is measured at FVOCI if: it is held in a business model whose objective is achieved by both holding assets to collect contractual cash flows and selling the assets ; and the contractual terms give rise to cash flows that are SPPI. This classification primarily includes debt securities and certain asset-backed securities held as HQLA for which the contractual cash flows meet the SPPI criterion . Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are derecognized (when sold, collected or otherwise disposed). Upon derecognition, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. The following items are recognized in the income statement: i nterest income, which is accounted for in accordance with item 3c in this Note ECL and reversals f oreign exchange translation gains and losses. The amounts recognized in the income statement are determined on the same basis as for financial assets measured at amortized cost. Measured at FVTPL Held for trading Financial assets held for trading include: all derivatives with a positive replacement value , except those that are designated and effective hedging instruments; and other financial assets acquired principally for the purpose of selling or repurchasing in the near term, or that are part of a portfolio of identifie d financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and trad ed corporate and bank loans) and equity instruments. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedgi ng instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented withi n Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more info rmation). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at f air value not held for trading, except for brokerage receivables, which are presented as a separate line item on UBS AG ’ s balance sheet. Mandatorily measured at FVTPL – Other A financial asset is mandatorily measured at FVTPL if: it is not held in a business model whose objective is to hold assets to collect contractual cash flows or to hold them to collect contractual cash flows and sell ; and / or the contractual terms give rise to cash flows that are not SPPI ; and / or it is not held for trading. The following financial assets are mandatorily measured at FVTPL: c ertain structured loans, certain commercial loans, receivables under reverse repurchase and cash collateral on securities borrowing agreements that are managed on a fair value basis ; l oans managed on a fair value basis and hedged with credit derivatives ; c ertain debt securities held as HQLA and managed on a fair value basis ; c ertain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee comp ensation plans. These assets represent holdings in investment funds, whereby the contractual cash flows do not meet the SPPI criterion because the entry and exit price is based on the fair value of the fund ’ s assets ; b rokerage receivables, for which contr actual cash flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest being calculated on the individual components ; a uction rate securities, for which contractual cash flows do not meet the SPPI criterion because interest may be reset at rates that contain leverage ; e quity instruments ; and a ssets held under unit-linked investment contracts . Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short - and long -duration foreign exchange contracts, which are reported in Net interest income. Derivative assets (including derivatives that are designated and effective hedgi ng instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in substance net settled on a daily basis, which are presented withi n Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more info rmation). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at f air value not held for trading, except for brokerage receivables, which are presented as a separate line item on UBS AG ’ s balance sheet. Measured at amortized cost This classification includes: d emand and time deposits ; retail savings / deposits ; amounts payable under repurchase agreements ; cash collateral on securities lent ; non-structured fixed-rate bonds ; subordinated debt ; certificates of deposit and covered bonds ; obligations against funding from UBS G roup AG and its subsidiaries ; and c ash collateral payables on derivative instruments . Measured at amortized cost using the EIR method. Upfront fees and direct costs relating to the issuance or origination of the liability are deferred and amortized over the life of the liability using the EIR method. When the financial liability at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amortized cost liabilities are presented on the balance sheet primarily as Amounts due to banks, Customer deposits, Payables from securities financing transactions , Debt issued measured at amortized cost and Funding from UBS Group AG and its subsidiaries . Amounts arising from ETD and certain OTC derivatives cleared through central clea ring counterparties that are either considered to be daily settled or in substance net settled on a daily basis (refer to items 3d and 3 i in this Note for more information ) are presented within Cash collateral payables on derivative instruments. Measured at fair value through profit or loss Held for trading Financial liabilities held for trading include: a ll derivatives with a negative replacement value (including certain loan commitments) , except those that are designated and effective hedging instruments ; and o bligations to deliver financial instruments, such as debt and equity instruments, that UBS AG has sold to third parties, but does not own (short positions). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS AG ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on UBS AG ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in su bstance net settled on a daily basis, which are presented within Cash collateral payables on derivative instruments. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost. Derivatives that are designated and effective as hedging instruments are also measured at fair value. The presentation of fair value changes differs depending on the type of hedge relationship (refer to item 3j in this Note for more in formation). Designated at FVTPL UBS AG designate s at FVTPL the following financial liabilities: i ssued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes i ssued debt instruments managed on a fair value basis c ertain payables under repurchase agreements and cash collateral on securities lending agreements that are managed in conjunction with associated reverse repurchase agreements and cash collateral on securities borrowed (from 1 January 2018) a mo unts due under unit-linked investment contracts whose cash flows are linked to financial assets measured at FVTPL and eliminate an accounting mismatch (from 1 January 2018) b rokerage payables, which arise in conjunction with brokerage receivables and are m easured at FVTPL to achieve measurement consistency (from 1 January 2018). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS AG ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial liabilities at fair value held for trading and Other financial liabilities designated at fair value, respectively, except for brokerage payables and debt issued, which are presented separate ly on UBS AG ’ s balance sheet. Derivative liabilities (including derivatives that are designated and effective hedging instruments) are generally presented as Derivative financial instruments, except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or in su bstance net settled on a daily basis, which are presented within Cash collateral payables on derivative instruments. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost. Derivatives that are designated and effective as hedging instruments are also measured at fair value. The presentation of fair value changes differs depending on the type of hedge relationship (refer to item 3j in this Note for more in formation). Comparative policy | Policy applicable prior to 1 January 2018 Prior to 1 January 2018, on initial recognition, UBS AG classifie d , measure d and present ed its financial assets and liabilities in accordance with IAS 39, Financial Instruments: Recognition and Measurement . Classification, measurement and presentation requ irements in respect of financial liabilities have been substantially retained by IFRS 9 and are detailed in the table “Classification, measurement and presentation of financial instruments from 1 January 2018 . ” The following table sets out details of class ification, measurement and presentation of financial assets prior to 1 January 2018 . Held for trading Financial assets held for trading include: a ll derivatives with a positive replacement value , except those that are designated and effective hedging instruments; and a ny other financial asset acquired principally for the purpose of selling or repurchasing in the near term, or part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of s hort-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and traded corporate and bank loans), equity instruments, and assets held under unit-linked investment contracts. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short dur ation foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Derivative financial instruments. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sh eet line as the host contract measured at amortized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3j in this Note for m ore information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Financial assets designated at fair value through profit or loss are presented as Financial assets at fair valu e not held for trading . Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior man agement on that basis; or the application of the fair value option eliminates or significantly reduces an accounting mismatch that would otherwise arise. UBS AG designated at fair value through profit or loss the following financial assets: certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis; loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch; certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Center – Group ALM on a fair value basis; and assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise as a result of the liability being measured on a fair value basis. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other net income from fair value changes on financial instruments, except interest and dividend income on instruments other than derivatives (refer to item 3c in this Note), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short dur ation foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Derivative financial instruments. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sh eet line as the host contract measured at amortized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3j in this Note for m ore information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Financial assets designated at fair value through profit or loss are presented as Financial assets at fair valu e not held for trading . 1 Presentation categories in this table reflect retrospective amendments to UBS AG’s balance sheet presentation carried out upon transition to IFRS 9 to facilitate comparability. For a detailed description of line items presented in UBS AG’s financial state ments on or before the year ended 31 December 2017, refer to item 4 within Note 1c. Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which UBS AG may not recover substantially all of its initial net investment for reasons other than credit deterioration. Thi s classification includes: cash and balances with central banks cash collateral receivables on derivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and Lombard loans, and unsecured loans certain securities held within Corporate Center – Non-core and Legacy Portfolio trade and lease receivables . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and rec eivables are presented on the balance sheet primarily as Cash and balances with central banks, Loans and advances to banks, Loans and advances to customers , Receivables from securities financing transactions and Cash collateral receivables on derivative in struments. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3 i in this Note) are presented within Cash collateral receivables on derivative instruments. Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly includes debt securities held as HQLA and managed by Corporate Center – Group ALM, certain asset-backed securities managed by Corporate Center – Group ALM, investmen t fund holdings and strategic and commercial equity investments. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, until such investments are sold, collected or otherwise dispose d of, or until any such investment is determined to be impaired (refer to item 3g in this Note). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. Interest and dividend income are recognized in the income statement in accordance with item 3c in this Note. Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for which UBS AG has the positive intention and ability to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporat e Center – Group ALM. Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurch ase transactions are generally entered into on a collateralized basis. In such transactions, UBS AG typically borrows or lends equity and debt securities in exchange for securities or cash collateral. These transactions are treated as collateralized fina ncing transactions where the securities transferred / received are not derecognized or recognized on the balance sheet. Securities transferred / received with the right to resell or repledge are disclosed separately. In reverse repurchase and securities bo rrowing agreements, the cash delivered is derecognized and a corresponding receivable, including accrued interest, is recorded in the balance sheet line Receivables from securities financing transactions (prior to 1 January 2018: Reverse repurchase a gree ments and Cash collateral on securities borrowed ) , representing UBS AG ’s right to receive the cash. Similarly, in repurchase and securities lending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is r ecorded in Payables from securities financing transactions (prior to 1 January 2018: Repurchase agreements and Cash collateral on securities lent ) . Additionally, the sale of securities that is settled by delivering securities received in reverse repurchase or securities borrowing transactions triggers the recognition of a trading liability. Repurchase and reverse repurchase transactions with the same counterparty, maturity, currency and central securities d epository are generally presented net, subject to m eeting the netting requirements described in item 3 i of this Note . Refer to Notes 26 and 25 for more information h. Restructured and modified financial assets When pa yment default is expected or where default has already occurred, UBS AG may grant concessions to borrowers in financial difficulties that it would otherwise not consider in the normal course of its business, such as preferential interest rates, extension o f maturity, modifying the schedule of repayments, debt / equity swap, subordination , etc . When a concession or forbearance measure is granted, each case is considered individually and the exposure is generally classified as being in default. Forbearance cl assification will remain until the loan is collected or written off, non-preferential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appeti te. Contractual adjustments when there is no evidence of imminent payment default, or where changes to terms and conditions are within UBS AG’s usual risk appetite, are not considered to be in forbearance. Modifications represent contractual amendments th at result in an alteration of future contractual cash flows and that can occur within UBS AG’s normal risk appetite or as part of a |
Interest income and expense | c. Interest income and expense Interest income and expense are recognized in the income statement applying the effective interest rate (EIR) method. When calculating the EIR for financial instruments (other than credit-impaired f inancial instruments), UBS AG estimates future cash flows considering all contractual terms of the instrument, but not expected credit losses. In determining interest income and expense, the EIR is applied to the gross carrying amount of the financial asset (unless the asset is credit-impaired) or the amortized cost of a financial liability (prior to 1 January 2018: amortized cost of a financial asset or financial liability). However, when a financial asset becomes credit-impaired after initial recognition, interest income is determined by applying the EIR to the amortized cost of the instrument, which represents the gross carrying amount adjusted for any credit loss allowance. Furthermore, for financial assets that were credit-impaired on initial recognition, interest is determined by applying a credit-adjusted EIR to the amortized cost of the instrument. Upfront fees, including loan commitment fe es where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measured at amortized cost or FVOCI (prior to 1 January 2018: financial asset classified as available for sale). Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no loan is expected to be issued, as well as loan syndication fees where UBS AG does not retain a portion of the syndicated l oan or where UBS AG does retain a portion of the syndicated loan at the same effective yield for comparable risk as other participants, are included in Net fee and commission income . Please refer to item 4 in this Note for more information Presentation of interest in the income statement Effective from 1 January 2018, interest income or expense on financial instruments measured at amortized cost and financial assets measured at FVOCI (prior to 1 January 2018: financial assets classified as available for sa le) are presented separately within Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income and Interest expense from financial instruments measured at amortized cost . UBS AG also presents in terest income and expense on financial instruments (excluding derivatives) measured at FVTPL including forward points on certain short- and long-duration foreign exchange contracts and dividends separately in Interest income ( or expense) from financial ins truments measured at fair value through profit or loss . Furthermore, interest income and expense on derivatives designated as hedging instruments in effective hedge relationships are presented consistently with the interest income and expense of the respec tive hedged item. Interest income on financial assets, excluding derivatives, is included in Interest income when positive and in Interest expense when negative, because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income . Refer to item 3 j in this Note and Note 3 for more information |
Derecognition of financial instruments | d. Derecognition Financial assets UBS AG derecognizes a financial asset, or a portion of a financial asset, from its balance sheet where the contractual rights to cash flows from the asset have expired, or have been tra nsferred, usually by sale, thus exposing the purchaser to either substantially all the risks and rewards of the asset or a significant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is conside red to have been transferred when UBS AG (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual rights to receive the cash flows of that asset, but assumes a contractual obligation to pay the c ash flows to one or more entities. Where financial assets have been pledged as collateral or in similar arrangements, they are considered to have been transferred if the counterparty has received the contractual right to the cash flows of the pledged asset s, as may be evidenced, for example, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the pledged financial assets has not received the contractual right to the cash flows, UBS AG does not consider this to be a transfer for the purposes of derecognition. In transactions where substantially all of the risks and rewards of ownership of a financi al asset are neither retained nor transferred, UBS AG derecognizes the financial asset if control over the asset is surrendered , and the rights and obligations retained following the transfer are recognized separately as assets and liabilities, respectivel y. In transfers where control over the financial asset is retained, UBS AG continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset follow ing the transfer. Certain over-the-counter (OTC) derivative contracts and most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of the variation margin represents legal or economic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer to Note 25 for more information Financial liabilities UBS AG derecognizes a financial liability from its balance sheet when it is extinguished ; i.e., when the obligation specified in the contract is discharged, canceled or expire s . When an existing financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification results in derecognition of the original liability and the recognition of a ne w liability with any difference in the respective carrying amounts being recognized in the income statement. |
Fair value of financial instruments | f. Fair value of financial instruments UBS AG accounts for a significant portion of its assets and lia bilities at fair value. Fair value is the price on the measurement date that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market, or in the most advantageo us market in the absence of a principal market. All financial instruments measured at fair value are categorized into one of three fair value hierarchy levels. Level 1 financial instruments are those for which fair values can be derived from quoted prices in active markets. Level 2 financial instruments are those for which fair values must be derived using valuation techniques for which all significant inputs are, or are based on, observable market data. Level 3 financial instruments are those for which fa ir values can only be derived on the basis of valuation techniques for which significant inputs are not based on observable market data. Critical accounting estimates and judgments The use of valuation techniques, modeling assumptions and estimates of unobservable market inputs require significant judgment and could affect the amount of gain or loss recorded for a particular position. Valuation techniques that rely more heavily on unobservable inputs require a higher level of judgment to calculate a fair value than those entirely based on observable inputs. Valuation techniques, including models, that are use d to determine fair values are periodically reviewed and validated by qualified personnel, independent of those who created them. Models are calibrated to ensure that outputs reflect observable market data, to the extent possible. Also, UBS AG prioritizes the use of observable inputs, when available, over unobservable inputs. Judgment is required in selecting appropriate models as well as inputs for which observable data is less readily or not available. UBS AG ‘ s governance framework over fair value measur ement is described in Note 24b. The level of subjectivity and the degree of management judgment involved in the development of estimates and the selection of assumptions are more significant for instruments valued using specialized and sophisticated model s and where some or all of the parameter inputs are less observable (Level 3 instruments) and may require adjustment to reflect factors that market participants would consider in estimating fair value, such as close-out costs, credit exposure, model-driven valuation uncertainty, funding costs and benefits, trading restrictions and other factors, which are presented in Note 24d. UBS AG provides a sensitivity analysis of the estimated effects arising from changing significant unobservable inputs in Level 3 fi nancial instruments to reasonably possible alternative assumptions within Note 24g. Refer to Note 24 for more information p. Other net income from fair value changes on financial instruments The line item Other net income from fair value changes on financial instruments includes fair value gains and losses on fina ncial instruments at fair value through profit or loss but excluding interest income and expense on non-derivatives (refer to item 3c in this Note) , as well as the effects at derecognition, trading gains and losses and intermediation income arising from ce rtain client-driven Global Wealth Management and Personal & Corporate Banking financial transactions. In addition, foreign currency translation effects and income and expenses from precious metals are presented within this income statement line item. |
Impairment of financial assets | g. Allowances and provisions for expected credit losses Policy applicable from 1 January 2018 1 Expected credit losses (ECL) are recognized for financial assets measured at amortized cost, financial assets measured at FVOCI, fee and lease receivables, financial guarantees and loan commitments. ECL are also recognized on the undrawn portion of revolving revocable cre dit lines, which include UBS AG’s credit card limits and master credit facilities, which are customary in the Swiss market for corporate and commercial clients. UBS AG refers to both as “other credit lines,” with clients allowed to draw down on-demand bala nces (with the Swiss master credit facilities also allowing for term products) and which can be terminated by UBS AG at any time. Though these other credit lines are revocable, UBS AG is exposed to credit risk because the client has the ability to draw dow n funds before UBS AG can take credit risk mitigation actions. Recognition of expected credit losses ECL represent the difference between contractual cash flows and those UBS AG expects to receive, discounted at the EIR. For loan commitments and other cr edit facilities in scope of ECL, expected cash shortfalls are determined by considering expected future drawdowns. ECL are recognized on the following basis: Maximum 12-month ECL are recognized from initial recognition, reflecting the portion of lifetime cash shortfalls that would result if a default occurs in the 12 months after the reporting date, weighted by the risk of a default occurring. Instruments in this category are referred to as instruments in stage 1. For instruments with a remaining maturity of less than 12 months, ECL are determined for this shorter period. Lifetime ECL are recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initial recognition, reflecting lifetime cash shortfalls that would r esult from all possible default events over the expected life of a financial instrument, weighted by the risk of a default occurring. Instruments in this category are referred to as instruments in stage 2. Where an SICR is no longer observed, the instrumen t will move back to stage 1. Lifetime ECL are always recognized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrument is credit-impaired is based on the occurrence of one or more loss events, with lifetime ECL generally derived by estimating expected cash flows based on a chosen recovery strategy . Credit-impaired exposures may include positions for which no loss has occurred or no allowance has been recognized, for example, becaus e they are expected to be fully recoverable through the collateral held. Changes in lifetime ECL since initial recognition are also recognized for assets that are purchased or originated c redit-impaired (POCI). POCI financial assets are initially recogniz ed at fair value, with interest income subsequently being recognized based on a credit-adjusted EIR. POCI financial instruments include those that are newly recognized following a substantial restructuring and remain a separate category until derecognition . UBS AG does not apply the low-credit-risk practical expedient that allows a lifetime ECL for lease or fee receivables to be recognized irrespective of whether a significant increase in credit risk has occurred. Instead, UBS AG has incorporated lease and fee receivables into the standard ECL calculation. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9. For the details of transition effects refer to Note 1c. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Wr ite-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses. Recoveries, in part or in full, of amounts previously written off are generally credited to Credit loss (expense) / recovery . Write -offs and partial write-offs represent derecognition / partial derecognition events. ECL are recognized in profit or loss with a corresponding ECL allowance reported as a decrease in the carrying value of financial assets measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying value is not reduced, but an accumulated amount is recognized in OCI. For off-balance sheet financial instruments and other credit lines, provisions for ECL are reported in Provisions . ECL are recognized within the income statement in Credit loss (expense) / recovery. Default and credit impairment UBS AG applies a single definition of default for classifying assets and determining the probability of default of its obligors for risk modeling purposes. The definition of default is based on quantitative and qualitative criteria. A counterparty is classified as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or mo re than 180 days for certain exposures in relation to loans to private and commercial clients in Personal & Corporate Banking , and to private clients of Global Wealth Management Region Switzerland. UBS AG does not consider the general 90-day presumption fo r default recognition appropria te for these latter portfolios based on an analysis of the cure rates, which demonstrated that strict application of the 90-day criterion would not accurately reflect the inherent credit risk. Counterparties are also classifi ed as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced; obligations have been restructured on preferential terms (forbearance); or there is other evidence that payment obligations will not be fully met without recour se to collateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counterparty is defaulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-i mpaired if the counterparty is defaulted, and / or the instrument is identified as POCI. An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted coun terparty. Once a financial asset is classified as defaulted / credit-impaired (except when it is POCI), it is reported as a stage 3 instrument and remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is general evidence of credit recovery. A three - month probation period is applied before a transfer back to stages 1 or 2 can be triggered. However, most instruments remain in stage 3 for a longer period. Measurement of expected credit losses IFRS 9 ECL reflect an unbiased, probability-weighted estimate based on either loss expectations resulting from default events over a maximum 12-month period from the reporting date or over the remaining life of a financial instrument. The method used to calculate individual probability-weighted unbiased ECL is based on a combination of the following principal factors: probability of default (PD), loss given default (LGD) and exposure at default (EAD). Par ameters are generally determined on an individual financial asset level. Based on the materiality of the portfolio, for credit card exposures and personal account overdrafts in Switzerland, and certain loans to financial advisors of Global Wealth Managemen t Region Americas, a portfolio approach is applied that derives an average PD and LGD for the entire portfolio. PDs and LGDs used in the ECL calculation are point in time (PIT)-based for key portfolios and consider both current conditions and expected cycl ical changes. For each instrument or group of instruments, parameter time series are generated consisting of the instruments’ PD, LGD and EAD profiles considering the respective period of exposure to credit risk. For material portfolios, PD and LGD are det ermined for four different scenarios, whereas EAD projections are treated as scenario independent. For the purpose of determining the ECL-relevant parameters, UBS AG leverages its Pillar 1 internal ratings-based (IRB) models that are also used in determini ng expected loss (EL) and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Adjustments have been made to these models and new IFRS 9-related models have been developed that consider the complexity, structure and risk prof ile of relevant portfolios and take account of the fact that PDs and LGDs used in the ECL calculation are PIT-based, as opposed to the corresponding Basel III through-the-cycle (TTC) parameters. All models that are relevant for measuring expected credit lo sses have been subject to the existing model validation and oversight processes with the Group Model Governance Board as the highest approval authority. The assignment of internal counterparty rating grades and the determination of default probabilities fo r the purposes of Basel III are not affected by the IFRS 9 ECL calculation. Probability of default (PD): The PD represents the likelihood of a default over a specified time period. A 12-month PD represents the likelihood of default determined for the next 12 months and a lifetime PD represents the probability of default over the remaining lifetime of the instrument. The lifetime PD calculation is based on a series of 12-month PIT PDs that are derived from TTC PDs and scenario forecasts. This modeling is reg ion-, industry- and client segment-specific and considers both scenario-systematic and client-idiosyncratic information. To derive the cumulative lifetime PD per scenario, the series of 12-month PIT PDs are transformed into marginal PIT PDs, taking any ass umed default events from previous periods into account. Loss given default (LGD): The LGD represents an estimate of the loss at the time of a potential default occurring during the life of a financial instrument. The determination of the LGD takes into account expected future cash flows from collateral and other credit enhancements, or expected payouts from bankruptcy proceeding s for unsecured claims and, where applicable, time to realization of collateral and the seniority of claims. The LGD is commonly expressed as a percentage of the EAD. Exposure at default (EAD): The EAD represents an estimate of the exposure to credit risk at the time of a potential default occurring during the life of a financial instrument. It represents the cash flows outstanding at the time of default, considering expected repayments, interest payments and accruals, discounted at the EIR. Future drawdown s on facilities are considered through a credit conversion factor (CCF) that is reflective of historical drawdown and default patterns and the characteristics of the respective portfolios. IFRS 9-specific CCFs have been modeled to capture client segment- a nd product-specific patterns after removing Basel III standard-specific elements, i.e . , conservatism and focus on a 12-month period prior to default. Estimation of expected credit losses Number of scenarios and estimation of scenario weights The determinat ion of the probability-weighted ECL requires evaluating a range of diverse and relevant future economic conditions, especially with a view to modeling the non-linear effect of assumptions about macroeconomic factors on the estimate. To accommodate this re quirement, UBS AG uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. Each scenario is represented by a specific scenario narrative, which is relevant considering the exposur e of key portfolios to economic risks, and for which a set of consistent macroeconomic variables is determined. Those variables range from above-trend economic growth to severe recession. The baseline scenario is aligned to the economic and market assumpti ons used for UBS AG business planning purposes. An econometric model is used to provide an input into the scenario weight assessment process giving a first indication of the probability that the GDP forecast used for each scenario would materialize, if his torically observed deviations of GDP growth from trend growth were representative. As such historical analyses of GDP development do not include an assessment of the underlying economic or political causes, management positions the model output into the co ntext of current conditions and future expectations and applies material judgment in determining the final scenario weights. The determined weights constitute the probabilities that the respective set of macroeconomic conditions will occur and not that the chosen particular narratives with the related macroeconomic variables will materialize. Macroeconomic and other factors The range of macroeconomic, market and other factors that is modeled as part of the scenario determination is wide, and historical inf ormation is used to support the identification of the key factors. As the forecast horizon increases, the availability of information decreases and judgment increases. For cycle-sensitive PD and LGD determination purposes, UBS AG projects the relevant econ omic factors for a period of three years before reverting, over a specified period, to a cycle-neutral PD and LGD for longer-term projections. Factors relevant for the ECL calculation vary by type of exposure and are determined during the credit cycle ind ex model development process in close alignment with expert judgment. Certain variables may only be relevant for specific types of exposures, such as house price indices for mortgage loans, while other variables have key relevance in the ECL calculation fo r all exposures. Regional and client segment characteristics are generally taken into account, with specific focus on Switzerland and the US considering UBS AG’s key ECL-relevant portfolios. For UBS AG , the following forward-looking macroeconomic variables represent the most relevant factors in the ECL calculation: GDP growth rates, given their significant effect on borrowers’ performance ; h ouse price indices, given their significant effect on mortgage collateral valuations ; u nemployment rates, given their significant effect on private clients’ ability to meet contractual obligations ; i nterest rates, given their significant effect on the counterparties’ abilities to service their debt ; c onsumer price indices, given their overall relevance for compani es’ performance, private clients’ purchasing power and economic stability ; and e quity indices, given that they are an important facto r in our corporate rating tools. The forward-looking macroeconomic assumptions used in the ECL calculation are developed by UBS AG’s economists, risk methodology personnel and credit risk officers. Assumptions and scenarios are validated and approved through a Scenario Committee and an Operating Committee, which also aim to ensure a consistent use of forward-looking informat ion throughout UBS AG, including in the business planning process. ECL inputs are tested and reassessed for appropriateness at least each quarter and appropriate adjustments are made when needed. Scenario generation, review process and governance All aspects of the scenario selection, including the specific narratives, their weight for the ECL estimation, and the key macroeconomic and other factors, are subject to a formal governance and approval process. A team of economists, who are part of Group Risk Control, provide the basic analysis taking into account information obtained through established risk identification an d assessment processes, which involve a broad range of experts, in particular, risk specialists and other in-house economists. Material risks with a high likelihood of materializing are then factored into the scenario select ion process. Once narratives hav e been developed, key macroeconomic factors that are consistent with the severity of the case and inter dependencies are determined. The scenarios, their weight and the key macroeconomic and other factors are subject to a critical assessment by members of t he Scenario Committee, where senior credit officers from the divisions and representatives from Group Risk Control are represented. Important aspects for the review are the extent to which the selected scenarios reflect the vulnerabilities of the relevant portfolios; whether their transformation into PIT PD and LGD values is in line with credit risk officers’ expectations; and whether there may be pockets of exposures, where particular credit risk concerns may not be capable of being addressed systematicall y and require an expert-based overlay for stage allocation and ECL allowance. This also ensures a consistent use of forward-looking information throughout UBS AG and an alignment with the business planning process. The Operating Committee is jointly chaire d by the Group Controller and Chief Accounting Officer, and the Risk Chief Operating Officer and Group Chief Risk Model Officer, a nd is comprised of the d ivi sional Chief Risk Officers and d ivisional Chief Financial Officers as well as senior Corporate Cent er Risk and Finance representatives. They review the proposals submitted by the Scenario Committee and approve the final selection of scenarios and factors and any expert-based overlays as they may be required to cover temporary issues, either related to s pecific risk elements in a portfolio, or due to identified technical deficiencies pending remediation (model updates, data quality, etc.). The Group Model Governance Board as the highest authority under UBS’s model governance framework ratifies the decisio ns by the Operating Committee. ECL measurement period The period for which lifetime ECL are determined is based on the maximum contractual period that UBS AG is exposed to credit risk, taking into account contractual extension, termination and prepayment options. For irrevocable loan commitments and financial guarantee contracts, the measurement period represents the maximum contractual period for which UBS AG has an obligation to extend credit. Additionally, some financial instruments include both an on-d emand loan and a revocable undrawn commitment, where the contractual cancelation right does not limit UBS AG’s exposure to credit risk to the contractual notice period as the client has the ability to draw down funds before UBS AG can take risk-mitigating actions. In such cases, UBS AG is required to estimate the period over which it is exposed to credit risk. This applies to UBS AG’s credit card limits, which do not have a defined contractual maturity date, are callable on demand and where the drawn and un drawn components are managed as one unit. The exposure arising from UBS AG’s credit card limits is not significant and is managed at a portfolio level, with credit actions triggered when balances are past due. An ECL measurement period of seven years is ap plied for credit card limits, capped at 12 months for stage 1 balances, as a proxy for the period that UBS AG is exposed to credit risk. Customary master credit agreements in the Swiss corporate market also include on-demand loans and revocable undrawn co mmitments. For smaller commercial facilities, a risk-based monitoring (RbM) approach is in place that highlights negative trends as risk events, at an individual facility level, based on a combination of continuously updated risk indicators. The risk event s trigger additional credit reviews by a risk officer, allowing for informed credit decisions to be taken. Larger corporate facilities are not subject to RbM, but are reviewed at least annually through a formal credit review. UBS AG has assessed these cred it risk management practices and considers both the RbM approach and formal credit review as substantive credit reviews resulting in a re-origination of the facility. Following this, a 12-month measurement period from the reporting date is used for both ty pes of facilities as an appropriate proxy of the period over which UBS AG is exposed to credit risk, with 12 months also used as a look-back period for assessing SICR, always from the respective reporting date. Significant increase in credit risk Financia l instruments subject to ECL are monitored on an ongoing basis. To determine whether the recognition of a maximum 12-month ECL continues to be appropriate, it is assessed whether an SICR has occurred since initial recognition of the financial instrument. T he assessment criteria include both quantitative and qualitative factors. UBS AG does not make use of the expedient that no particular SICR test is required for instruments that have low credit risk at reporting date. Primarily, UBS AG assesses changes in an instrument’s risk of default on a quantitative basis by comparing the annualized forward-looking and scenario-weighted lifetime PD of an instrument determined at two different dates: at the reporting date; and at inception of the instrument. In both cases, the respective PDs are determined for the residual lifetime of the instrument, i.e., the period between the reporting date and maturity. If, based on UBS AG’s quantitative modeling, an increase exceeds a set threshold, an SICR is deemed to have occu rred and the instrument is transferred to stage 2 with lifetime ECL being recognized. The threshold applied varies depending on the original credit quality of the borrower. For instruments with lower default probabilities at inception due to good credit quality of the counterparty, the SICR threshold is set at a higher level than for instruments with higher default probabilities at inception. This implies that for instruments with initially lower default probabilities, a relatively higher deterioration in credit quality is needed to trigger an SICR than for those instruments with originally higher PDs. The SICR assessment based o n PD changes is made at an individual financial asset level. A high-level overview of the SICR trigger, which is a multiple of the annualized remaining lifetime PIT PD expressed in rating downgrades that entail the same multiple of PD values, together with the corresponding ratings at origination of an instrument, is provided in the “SICR thresholds” table below. This simplified view is aligned to internal ratings as disclosed in “Internal UBS AG rating scale and mapping of external ratings” presented in “C redit risk” in the “Risk management and control” section of this report. The actual SICR thresholds applied are defined on a more granular level interpolating between the values shown in the table below. SICR thresholds Internal rating at origination of t he instrument Rating downgrades / SICR trigger 0 – 3 3 4 – 8 2 9 – 13 1 Refer to the “ Risk management and control ” section of this report for more details on the b ank’s internal grading system Irrespective of the SICR assessment based on default probabilities, credit risk is generally deemed to have significantly increased for an instrument if the contractual payments are more than 30 days past due. For certain less material portfolios, specifically the Swiss credit card portfolio and the recruitm ent and retention loans to financial advisors of Global Wealth Management Region Americas, the 30-day past due criterion is used as the primary indicator of an SICR. Where instruments are transferred to stage 2 due to the 30-day past due criterion, a minim um period of six months is applied before a transfer back to stage 1 can be triggered. For instruments in Personal & Corporate Banking that are between 90 and 180 days past due but have not been reclassified to stage 3, a one-year period is applied before a transfer back to stage 1 can be triggered. Additionally, based on individual counterparty-specific indicators, external market indicators of credit risk or general economic conditions, counterparties may be moved to a watch list, which is used as a seco ndary qualitative indicator for an SICR and hence for a transfer to stage 2. Exception management is further applied, allowing for individual and collective adjustments on exposures sharing the same credit risk characteristics to take account of specific s ituations that are not otherwise fully reflected. Instruments for which an SICR since initial recognition is determined based on criteria other than changed default probabilities or watch list items remain in stage 2 for at least six months post resolution of the stage 2 trigger event. The overall SICR determination process does not apply to Lombard loans, securities financing transactions and certain other asset-based lending transactions, because of the risk management practices adopted, including daily m onitoring processes with strict remargining requirements. If margin calls are not satisfied, a position is closed out and classified as a stage 3 position. Credit risk officers are responsible for ensuring that the stage allocation of instruments is in li ne with the requirements of the standard. Identification of an SICR for accounting purposes is in some aspects different from internal credit risk management processes for loans with increased credit risk, mainly because ECL accounting requirements are ins trument-specific, such that a borrower can have multiple exposures allocated to different stages, and that maturing loans i n stage 2 will migrate to stage 1 upon renewal irrespective of the actual credit risk at that time. Under a risk- based approach, a ho listic counterparty credit assessment and the absolute level of risk at any given date will determine what risk mitiga ting actions may be warranted. Refer to the “ Risk management and control ” section of this report for more information Critical accounting estimates and judgments The calculation of ECL requires management to apply significant judgment and make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to these estimates and assumptions can result in significant changes to the timing and amount of ECL to be recognized. Determination of a significant increase in credit risk IFRS 9 does not include a definition of what constitutes an SICR. UBS AG ’s assessment of whether an SICR has occurred since initial recognition is based on reasonable and supportable forward-looking i nformation, both qualitative and quantitative, and includes significant management judgment. More stringent criteria could significantly increase the number of instruments migrating to stage 2. An IFRS 9 Operating Committee has been established to review a nd challenge the SICR approach and any potential changes and determinations made in the quarter. Scenarios, scenario weights and macroeconomic factors ECL reflect an unbiased and probability-weighted amount, which UBS AG determines by evaluating a range of possible outcomes. Management selects forward-looking scenarios and judges the suitability of respective weights to be applied. Each of the scenarios is based on management’s assumptions around future economic conditions in the form of macroeconomic, ma rket and other factors. Changes in the scenarios and weights, the corresponding set of macroeconomic variables and the assumptions made around those variables for the forecast horizon would have a significant effect on the ECL. An IFRS 9 Scenario Committee , in addition to the Operating Committee, has been established to derive, review and challenge the selection and weights. ECL measurement period Lifetime ECL are generally determined based upon the contractual maturity of the transaction, which significa ntly affects ECL. The ECL calculation is therefore sensitive to any extension of contractual maturities triggered by business decisions, consumer behaviors and an increased number of stage 2 positions. In addition, for credit card limits and Swiss callable master credit facilities, judgment is required as UBS AG must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit card limits, capped at 12 months for stage 1 positions, and a 12-month period has b een applied for master credit facilities. Modeling and management adjustments A number of complex models have been developed or modified to calculate ECL, with additional management adjustments required. Internal counterparty rating changes, new or revis ed models and changes to data may significantly affect ECL. The models are governed by UBS AG ’s model validation controls, which aim to ensure independent verification, and are approved by the Group Model Governance Board (GMGB). The management adjustments are approved by the IFRS 9 Operating Committee and endorsed by the GMGB. UBS provides a sensitivity analysis of the effect of scenario selection, scenario weight s and SICR trigger points on ECL measurement within Note 23g . Comparative policy | Policy applicable prior to 1 January 2018 A claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss event has an effect on the future cash flows that can be reliably estimated (incurred loss approach) . UBS AG considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms as a result of credit deterioration of the issuer or counterparty. A claim can be a loan or receivable carried at amortized cost, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset . For an off-balance sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss (expense) / recovery . Critical accounting e stimates and judgments Allowances and provisions for credit losses are evaluated at both a counterparty-specific level and collectively. Judgment is used in making assumptions about the timing and amount of impairment losses. Counterparty-specific allowances and provisions Loans are evaluated individually for impairment if objective evidence indicates that a loan may be impaired. Individual credit exposures are evaluated on the basis of the borrower’s overall financial condition, resources and payme nt record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The impairment loss for a loan is the excess of the carrying value of the financial asset over the estimated recoverable amount. The estimated recoverable amount is the present value, calculated using the loan’s original effective interest rate, of expected future cash flows, including amounts that may result from restructuring or the liquidation of collateral. If a loan has a varia ble interest rate, the discount rate for calculating the recoverable amount is the current effective interest rate. Upon impairment, interest income is accrued by applying the original effective interest rate to the impaired carrying value of the loan. All impaired loans are reviewed and analyzed at least annually. Any subsequent changes to the amounts and timing of the expec ted future cash flows compared with prior estimates result in a change in the allowance for credit losses and are charged or credited to Credit loss ( expense ) / recovery . An allowance for impairment is reversed only when the credit quality has improved to such an extent that there is reasonable assurance of timely collection of principal and interest in accordance with the original contractual terms of the instrument , or the equivalent value thereof. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Write-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses . Recoveries, in part or in full, of amounts previously written off are credited to Credit lo ss ( expense ) / recovery. Collective allowances and provisions Collective allowances and provisions are calculated for portfolios with similar credit risk characteristics, taking into account historical loss experience and current conditions. The methodolog y and assumptions used are reviewed regularly to reduce any differences between estimated and actual loss experience. For all of its portfolios, UBS AG also assesses whether there have been any unforeseen developments that mi ght result |
Netting | i. Netting UBS AG nets financial assets and liabilities on its balance sheet if (i) it has the unconditional and legally enforceable right to set off the recogni zed amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS AG and all of the counterparties, and (ii) intends either to settle on a net basis or to realize the asset and settle the liability simultaneous ly. Netted positions include, for example, certain derivatives and repurchase and reverse repurchase transactions with various counterparties, exchanges and clearing houses. In assessing whether UBS AG intends to either settle on a net bas is, or to realize the asset and settle the liability simultaneously, emphasis is placed on the effectiveness of operational settlement mechanics in eliminating substantially all credit and liquidity exposure between the counterparties. This condition precludes offsetting o n the balance sheet for substantial amounts of UBS AG ’s financial assets and liabilities, even though they may be subject to enforceable netting arrangements. For OTC derivative contracts, balance sheet offsetting is generally only permitted in circumstanc es in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectively accomplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securities f inancing transactions, balance sheet offsetting may be permitted only to the extent that the settlement mechanism eliminates, or results in insignificant, credit and liquidity risk, and processes the receivables and payables in a single settlement process or cycle. Refer to Note 25 for more information |
Derivative financial instruments and hedging | j. Hedge accounting UBS AG uses derivative and non-derivative instruments to manage exposures to interest rate and foreign currency risks, including exposures arising from forecast tran sactions. UBS AG continues to apply hedge accounting requirements as set out in IAS 39 . Qualifying instruments may be designated as hedging instruments in (i) hedges of the change in fair value of recognized assets or liabilities (fair value hedges) ; (ii) hedges of the variability in future cash flows attributable to a recognized asset or liability or highly probable forecast transactions (cash flow hedges) ; or (iii) hedges of a net investment in a foreign operation (net investment hedges). At the time a f inancial instrument is designated in a hedge relationship, UBS AG formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction and the m ethods that will be used to assess the effectiveness of the hedging relationship. Accordingly, UBS AG assesses, both at the inception of the hedge and on an ongoing basis, whether the hedging instruments, primarily derivatives, have been “highly effective” in offsetting changes in the fair value or cash flows associated with the designated risk of the hedged items. A hedge is considered highly effective if the following criteria are met: (i) at inception of the hedge and throughout its life, the hedge is e xpected to be highly effective in achieving offsetting changes in fair value or cash flows attributable to the hedged risk ; and (ii) actual results of the hedge are within a range of 80–125%. In the case of hedging forecast transactions, the transaction mu st have a high probability of occurring and must present an exposure to variations in cash flows that could ultimately affect the reported net profit or loss. UBS AG discontinues hedge accounting when (i) it determines that a hedging instrument is not, or has ceased to be, highly effective as a hedge ; (ii) the derivative expires or is sold, terminated or exercised ; (iii) the hedged item matures, is sold or repaid ; or (iv) forecast transactions are no longer deemed highly probable. UBS AG may also discontinu e hedge accounting voluntarily. Hedge ineffectiveness represents the amount by which the changes in the fair value of the hedging instrument differ from changes in the fair value of the hedged item attributable to the hedged risk, or the amount by which ch anges in the present value of future cash flows of the hedging instrument exceed changes in the present value of expected cash flows of the hedged item. Such ineffec tiveness is recorded in current- period earnings in Other net income from fair value changes on financial instruments ( prior to 1 January 2018: Net trading income ) . Interest from derivatives designated as hedging instruments in effective fair value hedge relationships is presented within Interest income from loans and deposits and Interest expens e on debt issued , within Net interest income . Interest from derivatives designated as hedging instruments in effective cash flow hedge relationships that is reclassified from other comprehensive income when the hedged transaction affects profit or loss is presented within Interest income from derivative instruments designated as cash flow hedges . Refer to Note 3 for more information Fair value hedges For qualifying fair value hedges, the change in the fair value of the hedging instrument is recognized in the income statement along with the change in the fair value of the hedged item that is attributable to the hedged risk. In fair value hedges of interest rate risk, the fair value change of the hedged item attributable to the hedged risk is reflected as an adjustment to the carrying value of the hedged item. If the hedge accounting r elationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying value is amortized to the income statement over the remaining term to maturity of the hedged item using the effective interest rate method . For a portfolio hedge of interest rate risk, the equivalent change in fair value is reflected within Other financial assets measured at amortized cost or Other financial liabilities measured at amortized cost . If the portfolio hedge relationship is termi nated for reasons other than the derecognition of the hedged item, the amount included in Other financial assets measured at amortized cost or Other financial liabilities measured at amortized cost is amortized to the income statement over the remaining te rm to maturity of the hedged items using the straight-line method. Cash flow hedges Fair value gains or losses associated with the effective portion of derivatives designated as cash flow hedges for cash flow repricing risk are recognized initially in Othe r comprehensive income within Equity. When the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to the income statement. If a cash flow hedge of forecast transactions i s no longer considered effective, or if the hedge relationship is terminated, the cumulative gains or losses on the hedging derivatives previously reported in Equity remain there until the c ommitted or forecast transactions occur and affect p rofit or loss. If the forecast transactions are no longer expected to occur, the deferred gains or losses are reclassified immediately to the income statement. Hedges of net investments in foreign operations Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in Equity (and presented in the statement of changes in equity and statement of comprehensive income under F oreign currency translation ), while any gains or losses relating to the ineffective and / or undesignated portion (for example, the interest element of a forward contract) are recognized in the income statement. Upon disposal or partial disposal of the for eign operation, the cumulative value of any such gains or losses recognized in Equity associated with the entity is reclassified to Other income . Economic hedges that do not qualify for hedge accounting Derivative instruments that are transacted as economic hedges, but do not qualify for hedge accounting, are treated in the same way as derivative instruments used for trading purposes ; i.e . , realized and unrealized gains and losses are recognized in Other net income from fair value changes on financial instruments ( prior to 1 January 2018: Net trading income ), except for the forward points on certain short- and long-duration foreign exchange contracts, which are reported in Net interest income . Refer to Not e 11 for more information k. Embedded derivatives Derivatives may be embedded in other financial instruments (host contracts). For example, they could be represented by the conversion feature embedded in a convertible bond. Such h ybrid instruments arise predominantly from the issuance of certain structured debt instruments. An embedded derivative is generally required to be separated from the host contract (from 1 January 2018: unless the host contract is a financial asset in scope of IFRS 9) and accounted for as a standalone derivative instrument at fair value through profit or loss if (i) the host contract is not carried at fair value with changes in fair value reported in the income statement ; (ii) the economic characteristics an d risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract ; and (iii) the terms of the embedded derivative would meet the definition of a standalone derivative, were they contained in a separat e contract. Typically, UBS AG applies the fair value option to hybrid instruments (refer to item 3b in this Note for more information), in which case bifurcation of an embedded derivative component is not required. |
Financial guarantee contracts | o. Financial guarantee contracts Policy applicable from 1 January 2018 1 Financial guarantee contracts are contracts th at require the issuer to make specified payments to reimburse the holder for an incurred loss because a specified debtor fails to make payments when due in accordance with the terms of a specified debt instrument. UBS AG issues such financial guarantees to banks, financial institutions and other parties on behalf of clients to secure loans, overdrafts and other banking facilities. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9 . For the details of transition effects refer to Note 1c. Certain issued financial guarantees that are managed on a fair value bas is are designated at fair value through profit or loss. Financial guarantees that are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequently measured at the higher of: the amount of ECL (re fer to item g in this Note); and the amount initially recognized less the cumulative amount of income recognized as of the reporting date. ECL resulting from guarantees is recorded in the income statement in Credit loss (expense) / recovery . Comparati ve policy | Policy applicable prior to 1 January 2018 Financial guarantees that are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequently measured at the higher of the amount initially rec ogniz ed less cumulative amortization and , to the extent a payment under the guarantee has become probable, the present value of the expected payment. Any change in the liability relating to probable expected payments resulting from guarantees is recorded i n the income statement in Credit loss ( expense ) / recover y. |
Fee income | 4) Fe e and commission income and expenses Policy applicable from 1 January 2018 1 UBS AG earns fee income from a diverse range of services it provides to its clients. Fee income can be divided into two broad categories: fees earned from services that are provide d over a certain period of time, such as asset or portfolio management, custody services and certain advisory services; and fees earned from point-in-time services such as underwriting fees and brokerage fees (e.g., securities and derivative execution and clearing). Refer to Note 4 for more information , including the disaggregation of revenues Performance obligations satisfied over time Fees earned from services that are provided over a certain period of time are recognized on a pro rata basis over the ser vice period, provided the fees are not contingent on successfully meeting specified performance criteria that are beyond the control of UBS AG (see measurement below). Costs to fulfill services over time are recorded in the income statement immediately, b ecause such services are considered to be a series of services that are substantially the same from day to day and have the same pattern of transfer. The costs to fulfill neither generate nor enhance the resources of UBS AG that will be used to satisfy fut ure performance obligations and cannot be distinguished between those that relate to satisfied and unsatisfied performance obligations. Therefore, these costs do not qualify to be recognized as an asset. Where costs incurred relate to contracts that includ e variable consideration that is constrained by factors beyond UBS AG’s control (e.g., successful mergers and acquisitions (M&A) activity) or where UBS AG has a history of not recovering such costs on similar transactions, such costs are expensed immediate ly as incurred. Performance obligations satisfied at a point in time Fees earned from providing transaction-type services are recognized when the service has been completed, provided such fees are not subject to refund or another contingency beyond the co ntrol of UBS AG. Incremental costs to fulfill services provided at a point in time are typically incurred and recorded at the same time as the performance obligation is satisfied and revenue is earned, and are therefore not recognized as an asset, e.g., b rokerage. Where recovery of costs to fulfill relates to an uncompleted point-in-time service for which the satisfaction of the performance obligation in the contract is dependent upon factors beyond the control of UBS AG, such as underwriting a successful securities issuance, or where UBS AG has a history of not recovering such costs through reimbursement on similar transactions, such costs are expensed immediately as incurred. Measurement Fee and commission income is measured based on consideration specified in a legally enforceable contract with a customer, excluding amounts such as taxes collected on behalf of third parties. Consideration can include both fixed and variable amounts. Vari able consideration includes refunds, discounts, performance bonuses and other amounts that are contingent on the occurrence or non-occurrence of a future event. Variable consideration that is contingent on an uncertain event can only be recognized to the e xtent that it is highly probable that a significant reversal in the amount of cumulative revenue for a contract will not occur. This is referred to as the variable consideration constraint. UBS AG does not consider the highly probable criterion to be met w here the contingency on which income is dependent is beyond the control of UBS AG. In such circumstances, UBS AG only recognizes revenue when the contingency has been resolved or an uncertain event has occurred. Examples include asset management performanc e -l inked fees, which are only payable if the returns of a fund exceed a benchmark and are only recognized after the performance period has elapsed. Similarly, M&A advisory fees that are dependent on a successful client transaction are not recognized until the transaction on which the fees are dependent has been executed. Asset management fees (excluding performance-based fees) received on a periodic basis, typically quarterly, that are determined based on a fixed percentage of net asset value that has not b een established at the reporting date, are estimated and accrued ratably over the period to the next invoice date, except during periods in which market volatility indicates there is a risk of significant reversal. Research revenues earned by the Investmen t Bank under commission-sharing or research payment account agreements are not recognized until the client has provided a definitive allocation of amounts between research providers, as prior to this UBS AG generally does not have an enforceable right to a specified amount of consideration. Consideration received is allocated to the separately identifiable performance obligations in a contract. Owing to the nature of UBS’s business, contracts that include multiple performance obligations are typically those that are considered to include a series of similar performance obligations fulfilled over time with the same pattern of transfer to the client, e.g., asset management. As a consequence, UBS AG is not required to apply significant judgment in allocating th e consideration received across the various performance obligations. UBS AG has taken the prac tical expedient to not disclose information on the allocation of the transaction price to remaining performance obligations in contracts. This is because contract s are typically less than one year in duration. Where contracts have a longer duration, they are either subject to the variable consideration constraint, with fees calculated on future net asset value, which cannot be included within the transaction price for the contract, or result in revenue being recognized ratably using the output method corresponding directly to the value of the services completed to date and to which UBS would be entitled to invoice upon termination of the contract, e.g., loan commitm ents. Presentation of fee and commission income and expense Fee and commission income and expense are presented gross on the face of the income statement when UBS AG is considered to be principal in the contractual relationship with its customer and any s uppliers used to fulfill such contracts. This occurs where UBS AG has control over such services and its relationship with suppliers prior to provision of the service to the client. UBS AG only considers itself to be an agent in relation to ser vices provided by third parties, e.g., third-party execution costs for exchange-traded derivatives and fees payable to third-party research providers, where the client controls both the choice of supplier and the scope of the services to be provided. Furthermore , in order to be considered an agent UBS AG must not take responsibility for the quality of the service, transform or integrate the services into a UBS AG product. In such circumstances UBS AG is essentially acting as a payment agent for its client. When U BS AG is acting as an agent, any costs incurred are directly offset against the associated income. Presentation of expenses in the income statement UBS AG presents expenses primarily in line with their nature in the income statement, differentiating betwe en expenses that are incremental and incidental to revenues, which are presented within Total operating income , and those that are related to personnel, general and administrative expenses, which are presented within Total operating expenses . Contract ass ets, contract liabilities and capitalized expenses UBS AG has applied the practical expedient of allowing for costs incurred to obtain a contract to be expensed as incurred where the amortization period for any asset recognized would be less than 12 month s. Where UBS AG provides services to clients, consideration is due immediately upon satisfaction of a point-in-time service or at the end of a prespecified period for a service performed over time; e.g., certain asset management fees are collected monthly or quarterly, through deduction from a client account, deduction from fund assets or through separate invoicing. Where receivables are recorded, they are presented within Other financial assets measured at amortized cost . Contract liabilities relate to p repayments received from customers where UBS AG is yet to satisfy its performance obligation. Contract assets are recorded when an entity’s right to consideration in exchange for services transferred is conditional on something other than the passage of ti me, e.g., the entity’s future performance. UBS AG has not recognized any material contract assets, contract liabilities or capitalized expenses during the period and has therefore not provided a contract balances reconciliation. Comparative policy | Policy applicable prior to 1 January 2018 Fees earned from services that are provided over a certain period of time are recognized ratably over the service period, with the exception of performance-linked fees or fee components with specific performance criteria. Such fees are recognized when , as of the reporting date, the performance benchmark has been m et and when collect i bility is reasonably assured. Fees earned from providing transaction-type services are recognized when the service has been completed and the fee is fixed or determinable , i.e . , not subject to refund or adjustment. Fee income generated from providing a service that does not result in the recognition of a financial instrument is presented within Net fee and commission income. Fees generated from the acquisition, issue or disposal of a financial instrument are presente d in the income statement in line with the balance sheet classification of that financial instrument. Refer to Note 4 for more information 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 15. For the details of transition effects refer to Note 1b. |
Cash and cash equivalents | 5) Cash and cash equivalents For the purpose of the statement of cash flows, cash and cash equivalents comprise ba lances with an original maturity of three months or less, including cash, money market paper and balances at central and other banks. |
Equity participation and other compensation plans | 6) Share-based and other deferred compensation plans Share-based compensation plans UBS Group AG is the grantor of and mai ntains the obligation to settle share-based compensation plans that are awarded to employees of UBS AG. UBS AG recognizes the fair value of awards granted to its employees . T h ese awards are generally subject to conditions that require employees to complete a specified period of service and, for performance shares, to satisfy specified performance conditions . Compensation expense is recognized, on a per- tranche basis, over the service period based on an estimate of the number of instruments expected to vest and is adjusted to reflect actual outcomes. Where the service period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination d ate. Where no future service is required, such as for employees who are eligible for retirement or who have met certain age and length- of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable until the legal vesting date if certain non-vesting conditions are not met . For equity-settled awards, forfeiture events resulting from breach of a non-vesting condition do not result in an adjustment to expense. UBS AG has no obligation to settle the awards and therefore awards of UBS Group AG shares are classified as equity-set tled share-based payment transactions. Compensation expense is measured by reference to the f air value of UBS Group AG equity instruments on the date of grant adjusted, when relevant, to take into account the terms and conditions inherent in the award, inc luding dividend rights, transfer restrictions in effect beyond the vesting date, and non-vesting conditions. Fair value is determined at the date of grant and is not remeasured unless their terms are modified such that the fair value immediately after modi fication exceeds the fair value immediately prior to modification. Any increase in fair value resulting from a modification is recognized as compensation expense, either over the remaining service period or, for vested awards, immediately. Refer to Note 30 for more information Other compensation plans The employees of UBS AG are granted d eferred compensation plans that are settled in cash or financial instruments other than UBS AG equity , the amount of which may be fixed or may vary based on the achievement of specified performance conditions or the value of specified underlying assets. Compensation expense is recognized over the period that the employee provides services to become entitled to the award. Where the service period is sh ortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are el igible for retirement or who have met certain age and length-of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. The amount recognized is based on the p resent value of the amount expected to be paid under the plan and is remeasured at each reporting date, so that the cumulative expense recognized equals the cash or the fair value of respective financial instruments distributed. Refer to Note 30 for more information |
Pension and other post-employment benefit plans | 7) Pension and other post-employment benefit plans UBS AG sponsors various post-employment b enefit plans for its employees worldwide, which include defined benefit and defined contribution pension plans, and other post-employment benefits such as medical and life insurance benefits that are payable after the completion of employment. Refer to Not e 29 for more information Defined benefit plans UBS AG offers defined benefit pension and medical insurance benefits. Defined benefit plans specify an amount of benefit that an employee will receive, which usually depends on one or more factors , such as age, years of service and compensation. The defined benefit liability recognized o n the balance sheet is the present value of the defined benefit obligation less the fair value of the plan assets at the balance sheet date , with changes resulting from remeasurements recorded immediately in Other comprehensive income . If the fair value of the plan assets is higher than the present value of the defined benefit obligation, the recognition of the resulting net defined benefit ass et is limited to the present value of economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. UBS AG applies the projected unit credit method to determine the present value of its defined benefit obligations, the related current service cost and, where applicable, past service cost. The projected unit credit method sees each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up t he final obligation. These amounts, which take into account the specific features of each plan, including risk sharing between employee and employer, are calculated periodically by independent qualified actuaries. Critical accounting estimates and judgmen ts The net defined benefit liability or asset at the balance sheet date and the related personnel expense depend on the expected future benefits to be provided, determined using a number of economic and demographic assumptions. A range of assumptions coul d be applied, and different assumptions could significantly alter the defined benefit liability or asset and pension expense recognized. The most significant assumptions include life expectancy, the discount rate, expected salary increases, pension increas es and, in addition for the Swiss plan and one of the US defined benefit pension plans, interest credits on retirement savings account balances. Life expectancy is determined by reference to published mortality tables. The discount rate is determined by re ference to the rates of return on high-quality fixed-income investments of appropriate currency and term at the measurement date. The assumption for salary increases reflects the long-term expectations for salary growth and takes into account historical sa lary development by age groups, expected inflation and expected supply and demand in the labor market. A sensitivity analysis for reasonable possible movements in each significant assumption for UBS AG ‘s post-employment obligations is provided within Note 2 9 . Defined contribution plans A defined contribution plan is a pension plan under which UBS AG pays fixed contributions into a separate entity from which post-employment and other benefits are paid. UBS AG has no legal or constructive obligation to pay further contributions if the plan does not hold sufficient assets to pay employees the benefits relating to employee service in the current and prior periods. UBS AG ’s contributions are expensed when the employees have rendered services in exchange for suc h contributions. This is generally in the year of contribution. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available |
Income taxes | 8) Income taxes UBS AG is subject to the income tax laws of Sw itzerland and those of the non-Swiss jurisdictions in which UBS AG has business operations. UBS AG ’s provision for income taxes is composed of current and deferred taxes. Current income taxes represent taxes to be paid or refunded for the current period o r previous periods . Deferred taxes are recognized for temporary differences between the carrying amounts and tax bases of assets and liabilities that will result in taxable or deductible amounts in future periods and are measured using the applicable tax rates and laws that have been enacted or substantively enacted by the end of the reporting period and which will be in effect when such differences are expected to reverse . Deferred tax assets arise from a variety of sources, the most significant being: (i ) tax losses that can be carried forward to be used against profits in future years ; and (ii) temporary differences that will result in deductions against profits in future years . Deferred tax assets are recognized only to the extent that it is probable th at sufficient taxable profits will be available against which these differences can be used . When an entity or tax group has a history of recent losses, deferred tax assets are only recognized to the extent there are sufficient taxable temporary difference s or there is convincing other evidence that sufficient taxable profit will be available against which the unused tax losses can be utilized . Deferred tax liabilities are recognized for temporary differences between the carrying amounts of assets and liabilities in the balance sheet that reflect the expectation that certain items will give rise to taxable income in future periods. Deferred and current tax assets and liabilities are offset when (i) they arise in the same tax reporting group ; (ii) they relate to the same tax authority ; (iii) t he legal right to offset exists; and (iv) they are intended to be settled net or realized simultaneously. Current and deferred taxes are recognized as income tax benefit or expense in the income statement except for current and deferred taxes recognized (i) upon the acquisition of a subsidiary (for which such amounts would affect t he amount of goodwill arising from the acquisition ); (ii) for gains and losses on the sale of treasury shares (for which the tax effects are recognized directly in Equity ) ; ( i ii) for unrealized gains or losses on financial instruments that are classified a s FVOCI (prior to 1 January 2018: financial assets classified as available for sale); (iv) for changes in fair value of derivative instruments designated as cash flow hedges ; (v) for remeasurem ents of defined benefit plans; or (vi) for certain foreign curr ency translations of foreign operations. Amounts relating to points (iii) through (vi) are recognized in Other comprehensive income within Equity . UBS AG reflects the potential effect of uncertain tax positions using exp ected value (i.e., a probability- wei ghted approach), except where the likelihood of loss is remote (less than 5%). Critical accounting estimates and judgments Tax laws are complex , and judgment and interpretations about the application of such laws are required when accounting for income taxes. UBS AG considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverabili ty of its deferred tax assets, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing deferred tax assets. Estimating future profitability is inherently subje ctive and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. The level of deferred tax asset recognition is influenced by management’s assessment of UBS AG ’s future profitability based on relevant bu siness plan forecasts. Existing assessments are reviewed and, if necessary, revised to reflect changed circumstances. This review is conducted annually, in the fourth quarter of each year, but adjustments may be made at other times, if required. In a situa tion where recent losses have been incurred, convincing other evidence that there will be sufficient future profitability is required. If profit forecast assumptions in future periods deviate from the current outlook, the value of UBS AG ’s deferred tax ass ets may be affected. Any increase or decrease in the carrying amount of deferred tax assets would primarily be recognized through the income statement but would not affect cash flows. In addition , judgment is required to assess the expected value of uncert ain tax positions that are incorporated into the estimate of income and deferred tax and the assessment of the related probabilities, including in relation to the interpretation of tax laws, the resolution of any income tax-related appeals or litigation an d the assessment of the related probabilities. Refer to Note 8 for more information |
Investment in associates | 9) Investment s in associates Interests in e ntities where UBS AG has significant influence over the financial and operating policies of the entity, but does not have control, are classified as investments in associates and accounted for under the equity method of accounting. Typically, UBS AG has significant influence when it holds or has the ability to hold between 20% and 50% of a company’s voting rights. Investments in associates are initially recognized at cost, and the carrying amount is increased or decreased after the date of acquisition to recognize the UBS AG ’s share of the investee’s comprehensive income and any impairment losses. Th e net investment in an associate is impaired if there is objective evidence of a loss event and the carrying value of the investment in the associate exceeds its recoverable amount . Refer to Note 31 for more information |
Property, equipment and software | 10) Property, equipment and software Property, equipment and software includes own-used properties, leasehold improvements, information technology hardware, externally purchased and internally generated software, as well as communication and other similar equipment. Property, equipment and software is carried a t cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indication for impairment. Software development costs are capitalized only when the costs can be measured reliably and it is probable that future economic benefits will arise. Depreciation of property, equipment and software begins when they are available for use (i.e., when they are in the location and condition necessary for them to be capable of operating in the manner intended by management ) . Depreciati on is calculated on a straight-line basis over an asset ‘s estimated useful life. The estimated useful economic lives of UBS AG‘s property, equipment and software are: properties, excluding land: ≤ 67 years IT hardware and communication equipment: ≤ 7 year s other machines and equipment: ≤ 10 years software: ≤ 10 years leasehold improvements: shorter of the lease term or the economic life of asset (typically ≤ 20 years) Refer to Note 15 for more information |
Goodwill and intangible assets | 11) Goodwill and intangible asset s Goodwill represents the excess of the cost of an acquisition over the fair value of UBS AG ‘s share of net identifiable assets of the acquired entity at the date of the acquisition. Goodwill is not amortized, but at the end of each reporting period or whe n indicators of impairment exist, UBS AG assesses whether there is any indication that goodwill is impaired. If such indicators exist, UBS AG is required to test the goodwill for impairment. Irrespective of whether there is any indication of impairment, UB S AG tests goodwill for impairment annually. For the 2017 annual test, UBS AG considered the segments, as they are reported in Note 2a, as separate cash-generating units, since that was the level at which the performance of investments (and the related go odwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Management, UBS AG continued to separately monitor the goodwill previously allocated to the two former business divisions. As a consequence, for the purpose of goodwill impairment testing, the former Wealth Management and Wealth Management Americas business divisions are considered to be two separa te cash-generating units referred to in Note 16 as Global Wealth Management Americas 1 and Global Wealth Management ex Americas. The remaining goodwill balances continued to be tested at the level of Asset Management and the Investment Bank, respectively, c onsistent with the 2017 annual test. The impairment test is performed for each cash- generating unit to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, to the carrying amount of the respective cash-generating uni t. An impairment charge is recognized in the income statement if the carrying amount exceeds the recoverable amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of UBS AG ‘s goodwill may be come impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce net profit and equity, but would not affect cash flows. Intangible assets are comprised of separately identifiable intangible items arising from business combinations and certain purchased trademarks and similar items. Intangible assets are recognized at cost. The cost of an intangible asset acquired in a business combination is its fair value at the date of acquisition. Intangi ble assets with a finite useful life are amortized using the straight-line method over their estimated useful life, generally not exceeding 20 years. In rare cases, intangible assets can have an indefinite useful life, in which case they are not amortized. At each reporting date, intangible assets are reviewed for indications of impairment. If such indications exist, the intangible assets are analyzed to assess whether their carrying amount is fully recoverable. An impairment loss is recognized if the carry ing amount exceeds the recoverable amount. Critical accounting estimates and judgments UBS AG ‘s methodology for goodwill impairment testing is based on a model that is most sensitive to the following key assumptions: (i) forecasts of earnings available to shareholders in years one to three ; (ii) changes in the discount rates ; and (iii) changes in the long-term growth rate. The key assumptions are linked to external market information, where applicable. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both intern al and external analysts, the view of management a nd regional differences in risk- free rates, at the level of individual cash-generating units. Long-term growth rates are determined in a consistent manner based on nominal or real GDP growth rate forecasts, considering different regions worldwide as incorporated in the business plan approved by the BoD. The k ey assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying reasonably possible changes to tho se assumptions. Refer to Note 16 for details on how the reasonably possible ch anges may affect the results of UBS AG ‘s model for goodwill impairment testing. Refer to Notes 2 and 16 for more information |
Provisions and contingent liabilities | 12) Provisions and contingent liabilities Provisions are liabilities of uncertain timing or amount, and are recognized when : (i) UBS AG has a present obligation as a result of a past event ; (ii) it is probable that an ou tflow of resources will be re quired to settle the obligation; and (iii) a reliable estimate of the amount of the obligation can be made. The majority of UBS AG ’s provisions relate to litigation, regulatory and similar matters, restructuring, employee bene fits, real estate and loan commitments and guarantees. UBS AG recognizes provisions for litigation, regulatory and similar matters when, in the opinion of management after seeking legal advice, the requirements for recognition have been met . Where these f actors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against UBS AG , but are nevertheless expected to be, based on UBS AG ’s experience with similar asserted claims. Management may undertake restructuring activities, i.e., a planned and controlled program that materially changes either the scope of the business or the manner in which it is conducted. Restructuring provisions are recognized when a detailed and formal restructuring plan has been approved and a valid expectation has been raised that the restructuring will be carried out, either through commencement of the plan or announcements to affected employees. Provisions are recognized for lease contracts if the unavoidable costs of a contract exceed the benefits expected to be received under it (onerous lease contracts). For example, this may occur when a significant portion of a leased property is expected to be vacant for an extended period. Provisions for employee benefits are recognized mainly in respect of service anniversaries and sabbatical leave. Provisions are recognized at the measurement point that represents our best estimate of the consideration required to settle the present obligation at the balance sheet date. Such estimates are based o n all available information and are revised over time as more information becomes available. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to settle or discharg e the obligation, using a rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. Provisions that are similar in nature are aggregated to form a class, while the remaining provisions, includi ng those of less significant amounts , are disclosed under Other provisions . Provisions are presented separately on the balance sheet and, when they are no longer considered uncertain in timing or amount, are reclassified to other liabilities . When all conditions required to recognize a provision are not met, a contingent liability is disclosed, unless the likelihood of an outflow of resources is remote. Contingent liabilities are also disclosed for possible obligations that arise from past events whose existence will be confirmed only by uncertain future events not wholly within the control of UBS AG . Such disclosures are not made if it is not practicable to do so. Critical accounting estimates and judgments Recognition of provisions often involves sig nificant judgment in assessing the existence of an obligation that results from past events and in estimating the probability, timing and amount of any outflows of resources. This is particularly the case for litigation, regulatory and similar matters, whi ch, due to their nature, are subject to many uncertainties making their outcome difficult to predict. Such matters may involve unique fact patterns or novel legal theories, proceedings that have not yet been initiated or are at early stages of adjudication , or as to which alleged damages have not been quantified by the claimants. Determining whether an obligation exists as a result of a past event and estimating the probability, timing and amount of any potential outflows is based on a variety of assumption s, variables, and known and unknown uncertainties. The amount of any provision recognized is sensitive to the assumptions used and there could be a wide range of possible outcomes for any particular matter. Statistical or other quantitative analytical tool s are of limited use in determining whether to establish or determine the amount of provisions in the case of litigation, regulatory or similar matters. Furthermore, information currently available to management may be incomplete or inaccurate, increasing the risk of erroneous assumptions with regard to the future development of such matters. Management regularly reviews all the available information regarding such matters, including legal advice, which is a significant consideration, to assess whether the recognition criteria for provisions have been satisfied and to determine the timing and amount of any potential outflows. Refer to Note 21 for more information |
Foreign currency translation | 13) Foreign currency translation Transactions denominated in a foreign currency are translated into the functional currency of the reporting entity at the spot exchange rate on the date of t he transaction. At the balance sheet date, all monetary assets including those at FVOCI ( prior to 1 January 2018: monetary financial assets classified as available for sale ) and monetary liabilities denominated in foreign currency are translated into the functional currency using the closing exchange rate. Translation differences (which for monetary financial assets at FVOCI are determined as if they were financial assets measured at amortized cost) are reported in Other net income from fair value cha nges on financial instruments (prior to 1 January 2018: Net trading income ). Non-monetary items measured at historical cost are translated at the exchange rate on the date of the transaction. Prior to 1 January 2018, f oreign currency translation difference s on non-monetary financial assets classified as available for sale were recorded directly in Equity until the asset was derecognized . Upon consolidation, assets and liabilities of foreign operations (which from 1 October 2018 also include UBS AG ’s Swiss- based operations with Swiss franc functional currency) are translated into US dollars, UBS AG ’s presentation currency, at the closing exchange rate on the balance sheet date, and income and expense items and other comprehensive income are translated at the average rate for the period. The resulting foreign currency translation differences attributable to shareholders are recognized in Foreign currency translation within Equity, which forms part of Total equity attributable to shareholders , whereas the forei gn currency translation differences attributable to non-controlling interests are included within Equity attributable to non-controlling interests . Shar e capital issued, share premium and treasury shares held are translated at the historic average rate, wh ereby the difference between the historic average rate and the spot rate realized upon repayment of share capital or disposal of treasury shares is reported as Share premium. Cumulative amounts recogniz ed in OCI in respect of cash flow hedges and financial asse ts measured at FVOCI (prior to 1 January 2018 : financial assets classified as available for sale) are translated at the closing exchange rate as of balance sheet dates, with any translation effects adjusted through Retained earnings . When a foreign o peration is disposed or partially disposed of and UBS AG no longer controls the foreign operation, the cumulative amount of foreign currency translation differences within Total equity attributable to shareholders and Equity attributable to non-controlling interests related to that foreign operation is reclassified to the income statement as part of the gain or loss on disposal. Similarly, if an investment in an associate becomes an investment in a subsidiary, the cumulative amount of foreign currency trans lation differences is reclassified to profit or loss. When UBS AG disposes of a portion of its interest in a subsidiary that includes a foreign operation but retains control, the related portion of the cumulative currency t ranslation balance is reclassifie d to Equity attributable to non-controlling interests . Refer to Note 37 for more information Critical accounting estimates and judgments The determination of an entity’s functional curren cy and the trigger for a change re quires management to apply significant judgment and assumptions. IAS 21, The Effects of Changes in Foreign Exchange Rate s , requires management to consider the underlying transactions, events and conditions that are relevant to the entity when determining t he appropriate funct ional currency and any changes. UBS AG ’s conclusion, in the fourth quarter of 2018, that the functional currency of UBS AG, UBS AG’s Head Office in Switzerland and UBS AG’s London Branch has changed was based on a detailed assessment of the primary currencies affect ing and influencing the economics of each entity, considering revenue generating income streams, expenses, funding and risk management activities. In addition, determining the earliest date from which it is practicable to perf orm a restatement following a voluntary change in presentational currency also requires management to apply significant judgment and make estimates and assumptions. UBS AG ’s decision in 2018 to change the presentation currency of it s consolidated financial statements from Swiss francs to US dollars was made in line with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors , by assessing the earliest date from which it was practicable to perform a restatement, taking into consideration wheth er sufficiently reliable data was available for earlier periods and whether any assumptions on management intent or significant estimates of amounts were required. UBS AG carried out a detailed and extensive data analysis before concluding that 1 January 2 004 represented the earliest date available, with the consequence that foreign currency translation gains and losses prior to 2004 have been disregarded and foreign currency translation effect s first calcul ated from 1 January 2004 onward . Refer to Note 1 b for more information |
Leasing | 15) Leasing UBS AG enters into lease contracts, or contracts that include lease components, predominant ly of premises and equipment, and primarily as lessee. Leases that transfer substantially all the risks and rewards, but not necessarily legal title in the underlying assets, are classified as finance leases. All other leases are classified as operating le ases. UBS AG is not a lessee in any material finance leases. Lease contracts classified as operating leases where UBS AG is the lessee include non-cancelable long-term leases of office buildings in most UBS AG locations. Operating lease rentals payable are recognized as an expense on a straight-line basis over the lease term, which commences with control of the physical use of the property. Lease incentives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term. Where UBS AG acts as lessor under a finance lease, a receivable is recognized in Other financial assets measured at amortized cost at an amount equal to the present value of the aggregate of the minimum lease payments plus any unguaranteed residual v alue that UBS AG expects to recover at the end of the lease term. Initial direct costs are also included in the initial measurement of the lease receivable. Lease payments received during the lease term are allocated to repayment of the outstanding receiva ble and interest income to reflect a constant periodic rate of return on UBS AG ’s net investment using the interest rate implicit in the lease. UBS AG reviews the estimated unguaranteed residual value annually, and if the estimated residual value to be rea lized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Certain arrangements do not take the legal form of a lease but convey a right to use an asset in return for a payment or series of payments. For suc h arrangements, UBS AG determines at the inception of the arrangement whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets , and if so, the arrangement is accounted for as a lease. Refer to Note 33 for more information |
Non-controlling interests and preferred noteholders | 14) Non-controlling interests and preferred noteholders Net profit is split into Net profit attributable to shareholders , Net profit attributable to non-controlling interest and Net profit attributable to preferred noteholders . Similarly, Equity is split into Equity attributable to shareholders , Equity attributable to non-controlling inte rests and Equity attributable to preferred noteholders . Non-controlling interests subject to option arrangements, e.g., written puts, are generally deemed to be acquired by UBS AG . As a result, the amounts allocated to non-controlling interests are reduce d accordingly and a liability for the options’ exercise price is recognized, with any difference between these two amounts recorded in Share premium. |
Transition to IFRS 9 and IFRS 1
Transition to IFRS 9 and IFRS 15 as of 1 January 2018 (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Disclosure of the CEDAR transition impacts | As of or for the year ended 31.12.17 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 395 385 Share premium 23,598 26,613 25,942 Treasury shares (2,210) (2,189) (2,133) Retained earnings 25,932 33,599 32,752 Other comprehensive income recognized directly in equity, net of tax 4,838 (5,880) (5,732) Equity attributable to shareholders 52,495 52,538 51,214 Equity attributable to non-controlling interests 59 59 57 Total equity 52,554 52,597 51,271 Income statement Other income 511 515 509 Total operating income 29,622 29,627 29,067 Operating profit / (loss) before tax 5,351 5,355 5,268 Tax expense / (benefit) 4,305 4,234 4,139 Net profit / (loss) 1,046 1,121 1,128 Net profit / (loss) attributable to non-controlling interests 77 77 76 Net profit / (loss) attributable to shareholders 969 1,044 1,053 As of or for the year ended 31.12.16 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 378 385 Share premium 25,958 27,761 28,254 Treasury shares (2,362) (2,210) (2,249) Retained earnings 25,029 31,170 31,725 Other comprehensive income recognized directly in equity, net of tax 3,953 (4,416) (4,494) Equity attributable to shareholders 52,916 52,683 53,621 Equity attributable to non-controlling interests 670 670 682 Total equity 53,586 53,353 54,302 Income statement Other income 663 603 599 Total operating income 28,729 28,669 28,320 Operating profit / (loss) before tax 4,209 4,149 4,090 Tax expense / (benefit) 777 816 805 Net profit / (loss) 3,432 3,333 3,286 Net profit / (loss) attributable to non-controlling interests 84 84 82 Net profit / (loss) attributable to shareholders 3,348 3,250 3,204 As of or for the year ended 31.12.15 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 384 385 Share premium 28,966 31,113 31,164 Treasury shares (1,806) (1,690) (1,693) Retained earnings 22,672 29,455 29,504 Other comprehensive income recognized directly in equity, net of tax 5,166 (4,040) (4,047) Equity attributable to shareholders 55,336 55,221 55,313 Equity attributable to non-controlling interests 1,992 1,992 1,995 Total equity 57,328 57,213 57,308 1 Amounts presented in this column represent a translation of the previously published information under a Swiss franc presentation currency, translated to US dollars using a simplified approach. Assets, liabilities and equity were translated to US dollars at closing exchange rates prevailing on the respective balance sheet dates, and income and expenses were translated at the respective average rates prevailing for the relevant periods. |
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 | Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Assets Cash and balances at central banks Loans and receivables 90,045 0 90,045 Loans and advances to banks Loans and receivables 14,094 (17) (3) 12 14,074 to: Brokerage receivables Loans and receivables (17) 1 Receivables from securities financing transactions Loans and receivables 91,951 (5,085) (2) 12 86,864 to: Financial assets at fair value not held for trading Loans and receivables (5,085) 2 Cash collateral receivables on derivative instruments Loans and receivables 24,040 0 24,040 Loans and advances to customers Loans and receivables 326,746 (8,024) 0 (241) 12 318,480 to: Financial assets at fair value not held for trading Loans and receivables (2,747) 3 to: Brokerage receivables Loans and receivables (4,812) 1 to: Financial assets at fair value held for trading Loans and receivables (480) 4 from: Financial assets at fair value not held for trading FVTPL (designated) 9 5 0 from: Financial assets at fair value held for trading FVTPL (held for trading) 6 5 Other financial assets measured at amortized cost Loans and receivables, held to maturity 37,815 (19,004) 0 (36) 12 18,775 to: Brokerage receivables Loans and receivables (19,573) 1 from: Financial assets measured at fair value through other comprehensive income Available for sale 569 6 0 Total financial assets measured at amortized cost 584,691 (32,131) 0 (282) 552,277 Financial assets at fair value held for trading FVTPL (held for trading) 129,407 (11,135) (16) 118,256 to: Loans and advances to customers FVTPL (held for trading) (6) 5 to: Financial assets at fair value not held for trading FVTPL (held for trading) (11,609) 7 from: Loans and advances to customers Loans and receivables 480 4 (16) 4 of which: assets pledged as collateral that may be sold or repledged by counterparties FVTPL (held for trading) 36,277 36,277 Derivative financial instruments FVTPL (derivatives) 121,285 121,285 Brokerage receivables Loans and receivables 24,403 24,403 from: Loans and advances to banks Loans and receivables 17 1 from: Loans and advances to customers Loans and receivables 4,812 1 from: Other financial assets measured at amortized cost Loans and receivables 19,573 1 Financial assets at fair value not held for trading FVTPL (designated) 60,457 9 20,822 (295) 80,985 to: Loans and advances to customers FVTPL (designated) (9) 5 from: Financial assets at fair value held for trading FVTPL (held for trading) 11,609 7 from: Receivables from securities financing transactions Loans and receivables 5,085 2 (1) from: Loans and advances to customers Loans and receivables 2,747 3 (293) 3 from: Financial assets measured at fair value through other comprehensive income Available for sale 1,391 8 Total financial assets measured at fair value through profit or loss 311,148 34,090 (310) 344,928 Financial assets measured at fair value through other comprehensive income Available for sale 8,889 (1,960) 6,930 10 to: Other financial assets measured at amortized cost Available for sale (569) 6 to: Financial assets at fair value not held for trading Available for sale (1,391) 8 Investments in associates 1,045 1,045 Property, equipment and software 9,057 9,057 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 10,056 59 11 66 11 10,182 Other non-financial assets 7,830 7,830 Total assets 939,279 (251) (216) 938,812 Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (continued) 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Liabilities Amounts due to banks Amortized cost 7,728 7,728 Payables from securities financing transactions Amortized cost 17,485 (5,212) 12,273 to: Other financial liabilities designated at fair value Amortized cost (5,212) 13 Cash collateral payables on derivative instruments Amortized cost 31,029 31,029 Customer deposits Amortized cost 419,577 (5,404) 414,172 to: Brokerage payables designated at fair value Amortized cost (5,404) 14 Debt issued measured at amortized cost Amortized cost 143,160 143,160 Other financial liabilities measured at amortized cost Amortized cost 37,276 (30,413) (4) 6,859 to: Brokerage payables designated at fair value Amortized cost (30,413) 14 Derecognition: deferred fees on other loan commitments Amortized cost (4) 4 Total financial liabilities measured at amortized cost 656,255 (41,030) (4) 615,222 Financial liabilities at fair value held for trading FVTPL (held for trading) 31,251 31,251 Derivative financial instruments FVTPL (derivatives) 119,137 59 119,196 Recognition: Loan commitments Amortized cost – off-balance sheet 61 4 Derecognition: Loan commitments FVTPL (derivatives) (2) 5 Brokerage payables designated at fair value Amortized cost 35,818 35,818 from: Customer deposits Amortized cost 5,404 14 from: Other financial liabilities measured at amortized cost Amortized cost 30,413 14 Debt issued designated at fair value FVTPL (designated) 50,782 50,782 Other financial liabilities designated at fair value FVTPL (designated) 16,643 5,212 (5) 21,850 from: Payables from securities financing transactions Amortized cost 5,212 13 (5) 13 Total financial liabilities measured at fair value through profit or loss 217,813 41,030 54 258,897 Provisions 3,214 76 12 3,290 Other non-financial liabilities 9,443 9,443 Total liabilities 886,725 50 76 886,851 Equity Share capital 338 338 Share premium 23,598 23,598 Treasury shares (2,210) (2,210) Retained earnings 25,932 74 8,15 (300) (291) 25,415 Other comprehensive income recognized directly in equity, net of tax 4,838 (74) 8,15 4,764 Equity attributable to shareholders 52,495 0 (300) 15 (291) 15 51,905 Equity attributable to non-controlling interests 59 59 Total equity 52,554 0 (300) (291) 51,963 Total liabilities and equity 939,279 0 (251) (216) 938,812 |
Disclosure of reconciliation of allowances and provisions upon first time adoption of IFRS9 | Reconciliation of allowances and provisions on adoption of IFRS 9 31.12.17 1.1.18 USD million Loss allowances and provisions (IAS 39 / IAS 37) Reversal of allowances (IAS 39) Recognition of ECL (IFRS 9) 1 Allowances and provisions for ECL (IFRS 9) On-balance sheet Cash and balances at central banks 0 0 Loans and advances to banks (3) (3) (5) Receivables from securities financing transactions (2) (2) Cash collateral receivables on derivative instruments 0 Loans and advances to customers (675) 27 2 (241) 3 (890) Other financial assets measured at amortized cost (104) 4 (36) (139) Total on-balance sheet (781) 27 (282) (1,037) Off-balance sheet financial instruments and other credit lines Guarantees (30) (8) (38) Loan commitments (4) (33) (37) Other credit lines (35) (35) Total off-balance sheet financial instruments and other credit lines (34) (76) (110) Total (815) 27 (357) (1,146) of which: stage 1 (148) (148) of which: stage 2 (193) (193) of which: stage 3 (16) 5 (806) 1 Includes stage 1 and stage 2 expected credit losses and additional stage 3 expected credit losses. 2 The reversal of USD 27 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” 3 Includes the reversal of collective allowances of USD 13 million. 4 Includes USD 84 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. 5 The incremental increase in stage 3 allowances of USD 16 million arises from additional consideration of forward-looking scenarios under IFRS 9. |
IFRS 9 impact on other comprehensive income and retained earnings | IFRS 9 impact on other comprehensive income and retained earnings USD million Other comprehensive income recognized directly in equity, net of tax Reclassification of financial assets (available for sale to fair value through profit or loss) – equity instruments (204) Reclassification of financial assets (available for sale to fair value through profit or loss) – debt instruments (5) Tax (expense) / benefit 134 Total change in other comprehensive income (74) Retained earnings Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) (310) Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) 209 Recognition of ECL for on-balance sheet financial assets (282) Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) 5 Recognition of derivative loan commitments measured at fair value through profit or loss (61) Derecognition of liabilities for deferred fees on other loan commitments 4 Derecognition of derivative loan commitments measured at fair value through profit or loss 2 Recognition of ECL for off-balance sheet positions (76) Tax (expense) / benefit (9) Total change in retained earnings (518) Total change in equity due to the adoption of IFRS 9 (591) |
Disclosure of new balance sheet presentation explanatory | Retrospective amendments to UBS Group balance sheet presentation as of 31 December 2017 USD million 31.12.17 31.12.17 Assets References Former presentation Revised presentation Cash and balances at central banks 90,045 90,045 Loans and advances to banks (formerly: Due from banks) 14,094 14,094 Receivables from securities financing transactions (new line) 1 91,951 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 1 12,714 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 1 79,238 Cash collateral receivables on derivative instruments 24,040 24,040 Loans and advances to customers (formerly: Loans) 2 327,833 326,746 Financial assets held to maturity (superseded) 3 9,403 Other financial assets measured at amortized cost (new line) 2, 3, 7 37,815 Total financial assets measured at amortized cost 584,691 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 4 134,087 129,407 of which: assets pledged as collateral that may be sold or repledged by counterparties 36,277 36,277 Derivative financial instruments (formerly: Positive replacement values) 121,285 121,285 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 5 60,457 Financial assets designated at fair value 5 60,457 Total financial assets measured at fair value through profit or loss 311,148 Financial assets available for sale (superseded) 6 8,889 Financial assets measured at fair value through other comprehensive income (new line) 6 8,889 Investments in associates 1,045 1,045 Property, equipment and software 9,057 9,057 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 10,056 10,056 Other non-financial assets (new line) 4, 7 7,830 Other assets (superseded) 7 30,474 Total assets 939,279 939,279 Liabilities Amounts due to banks 7,728 7,728 Payables from securities financing transactions (new line) 8 17,485 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 8 1,835 Repurchase agreements (newly included in Payables from securities financing transactions) 8 15,650 Cash collateral payables on derivative instruments 31,029 31,029 Customer deposits (formerly: Due to customers) 419,577 419,577 Debt issued measured at amortized cost 143,160 143,160 Other financial liabilities measured at amortized cost (new line) 10 37,276 Total financial liabilities measured at amortized cost 656,255 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 31,251 31,251 Derivative financial instruments (formerly: Negative replacement values) 119,137 119,137 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 9 55,604 Debt issued designated at fair value (new line) 9 50,782 Other financial liabilities designated at fair value (new line) 9, 10 16,643 Total financial liabilities measured at fair value through profit or loss 217,813 Provisions 3,214 3,214 Other non-financial liabilities (new line) 10 9,443 Other liabilities (superseded) 10 58,540 Total liabilities 886,725 886,725 Total liabilities and equity 939,279 939,279 |
UBS AG | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Disclosure of the CEDAR transition impacts | As of or for the year ended 31.12.17 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 396 386 Share premium 24,633 27,663 26,966 Retained earnings 22,189 29,855 29,102 Other comprehensive income recognized directly in equity, net of tax 4,828 (5,884) (5,736) Equity attributable to shareholders 51,987 52,030 50,718 Equity attributable to non-controlling interests 59 58 57 Total equity 52,046 52,088 50,775 Income statement Other income 952 956 939 Total operating income 30,044 30,049 29,479 Operating profit / (loss) before tax 5,076 5,080 4,998 Tax expense / (benefit) 4,242 4,171 4,077 Net profit / (loss) 834 909 921 Net profit / (loss) attributable to preferred noteholders 73 73 72 Net profit / (loss) attributable to non-controlling interests 4 4 4 Net profit / (loss) attributable to shareholders 758 833 845 As of or for the year ended 31.12.16 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 379 386 Share premium 27,154 28,989 29,505 Retained earnings 21,480 27,771 28,265 Other comprehensive income recognized directly in equity, net of tax 3,985 (4,415) (4,494) Equity attributable to shareholders 52,957 52,724 53,662 Equity attributable to preferred noteholders 631 631 642 Equity attributable to non-controlling interests 39 39 40 Total equity 53,627 53,393 54,343 Income statement Other income 749 689 685 Total operating income 28,831 28,770 28,421 Operating profit / (loss) before tax 4,188 4,128 4,069 Tax expense / (benefit) 753 792 781 Net profit / (loss) 3,435 3,336 3,288 Net profit / (loss) attributable to preferred noteholders 80 80 78 Net profit / (loss) attributable to non-controlling interests 4 4 4 Net profit / (loss) attributable to shareholders 3,351 3,252 3,207 As of or for the year ended 31.12.15 In million Under a USD presentation currency (restated) (USD) USD based on a simple translation of CHF presentation currency 1 Under a CHF presentation currency (CHF) Balance sheet Equity Share capital 338 385 386 Share premium 27,126 29,429 29,477 Retained earnings 22,664 29,385 29,433 Other comprehensive income recognized directly in equity, net of tax 5,144 (4,040) (4,047) Equity attributable to shareholders 55,272 55,157 55,248 Equity attributable to preferred noteholders 1,951 1,951 1,954 Equity attributable to non-controlling interests 41 41 41 Total equity 57,264 57,149 57,243 1 Amounts presented in this column represent a translation of the previously published information under a Swiss franc presentation currency, translated to US dollars using a simplified approach. Assets, liabilities and equity were translated to US dollars at closing exchange rates prevailing on the respective balance sheet dates, and income and expenses were translated at the respective average rates prevailing for the relevant periods. |
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 | Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Assets Cash and balances at central banks Loans and receivables 90,045 0 90,045 Loans and advances to banks Loans and receivables 14,047 (17) (3) 12 14,027 to: Brokerage receivables Loans and receivables (17) 1 Receivables from securities financing transactions Loans and receivables 91,951 (5,085) (2) 12 86,864 to: Financial assets at fair value not held for trading Loans and receivables (5,085) 2 Cash collateral receivables on derivative instruments Loans and receivables 24,040 0 24,040 Loans and advances to customers Loans and receivables 328,952 (8,024) 0 (241) 12 320,687 to: Financial assets at fair value not held for trading Loans and receivables (2,747) 3 to: Brokerage receivables Loans and receivables (4,812) 1 to: Financial assets at fair value held for trading Loans and receivables (480) 4 from: Financial assets at fair value not held for trading FVTPL (designated) 9 5 0 from: Financial assets at fair value held for trading FVTPL (held for trading) 6 5 Other financial assets measured at amortized cost Loans and receivables, held to maturity 37,890 (19,004) 0 (36) 12 18,850 to: Brokerage receivables Loans and receivables (19,573) 1 from: Financial assets measured at fair value through other comprehensive income Available for sale 569 6 0 Total financial assets measured at amortized cost 586,925 (32,131) 0 (282) 554,512 Financial assets at fair value held for trading FVTPL (held for trading) 129,509 (11,135) (16) 118,359 to: Loans and advances to customers FVTPL (held for trading) (6) 5 to: Financial assets at fair value not held for trading FVTPL (held for trading) (11,609) 7 from: Loans and advances to customers Loans and receivables 480 4 (16) 4 of which: assets pledged as collateral that may be sold or repledged by counterparties FVTPL (held for trading) 36,277 36,277 Derivative financial instruments FVTPL (derivatives) 121,286 121,286 Brokerage receivables Loans and receivables 24,403 24,403 from: Loans and advances to banks Loans and receivables 17 1 from: Loans and advances to customers Loans and receivables 4,812 1 from: Other financial assets measured at amortized cost Loans and receivables 19,573 1 Financial assets at fair value not held for trading FVTPL (designated) 60,070 9 20,822 (295) 80,598 to: Loans and advances to customers FVTPL (designated) (9) 5 from: Financial assets at fair value held for trading FVTPL (held for trading) 11,609 7 from: Receivables from securities financing transactions Loans and receivables 5,085 2 (1) from: Loans and advances to customers Loans and receivables 2,747 3 (293) 3 from: Financial assets measured at fair value through other comprehensive income Available for sale 1,391 8 Total financial assets measured at fair value through profit or loss 310,865 34,090 (310) 344,646 Financial assets measured at fair value through other comprehensive income Available for sale 8,889 (1,960) 6,930 10 to: Other financial assets measured at amortized cost Available for sale (569) 6 to: Financial assets at fair value not held for trading Available for sale (1,391) 8 Investments in associates 1,045 1,045 Property, equipment and software 8,191 8,191 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 9,993 59 11 66 11 10,118 Other non-financial assets 7,548 7,548 Total assets 940,020 (251) (216) 939,554 Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (continued) 31.12.17 1.1.18 USD million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Liabilities Amounts due to banks Amortized cost 7,728 7,728 Payables from securities financing transactions Amortized cost 17,485 (5,212) 12,272 to: Other financial liabilities designated at fair value Amortized cost (5,212) 13 Cash collateral payables on derivative instruments Amortized cost 31,029 31,029 Customer deposits Amortized cost 423,058 (5,404) 417,653 to: Brokerage payables designated at fair value Amortized cost (5,404) 14 Funding from UBS Group AG and its subsidiaries Amortized cost 35,648 35,648 Debt issued measured at amortized cost Amortized cost 107,458 107,458 Other financial liabilities measured at amortized cost Amortized cost 38,092 (30,413) (4) 7,675 to: Brokerage payables designated at fair value Amortized cost (30,413) 14 Derecognition: deferred fees on other loan commitments Amortized cost (4) 4 Total financial liabilities measured at amortized cost 660,498 (41,030) (4) 619,465 Financial liabilities at fair value held for trading FVTPL (held for trading) 31,251 31,251 Derivative financial instruments FVTPL (derivatives) 119,138 59 119,197 Recognition: Loan commitments Amortized cost – off-balance sheet 61 4 Derecognition: Loan commitments FVTPL (derivatives) (2) 5 Brokerage payables designated at fair value Amortized cost 35,818 35,818 from: Customer deposits Amortized cost 5,404 14 from: Other financial liabilities measured at amortized cost Amortized cost 30,413 14 Debt issued designated at fair value FVTPL (designated) 50,782 50,782 Other financial liabilities designated at fair value FVTPL (designated) 16,643 5,212 (5) 21,851 from: Payables from securities financing transactions Amortized cost 5,212 13 (5) 13 Total financial liabilities measured at fair value through profit or loss 217,814 41,030 54 258,898 Provisions 3,164 76 12 3,240 Other non-financial liabilities 6,499 6,499 Total liabilities 887,974 50 76 888,100 Equity Share capital 338 338 Share premium 24,633 24,633 Retained earnings 22,189 74 8,15 (300) (291) 21,672 Other comprehensive income recognized directly in equity, net of tax 4,828 (74) 8,15 4,754 Equity attributable to shareholders 51,987 0 (300) 15 (291) 15 51,397 Equity attributable to non-controlling interests 59 59 Total equity 52,046 0 (300) (291) 51,455 Total liabilities and equity 940,020 0 (251) (216) 939,554 |
Disclosure of reconciliation of allowances and provisions upon first time adoption of IFRS9 | Reconciliation of allowances and provisions on adoption of IFRS 9 31.12.17 1.1.18 USD million Loss allowances and provisions (IAS 39 / IAS 37) Reversal of allowances (IAS 39) Recognition of ECL (IFRS 9) 1 Allowances and provisions for ECL (IFRS 9) On-balance sheet Cash and balances at central banks 0 0 Loans and advances to banks (3) (3) (5) Receivables from securities financing transactions (2) (2) Cash collateral receivables on derivative instruments 0 0 Loans and advances to customers (675) 27 2 (241) 3 (890) Other financial assets measured at amortized cost (104) 4 (36) (139) Total on-balance sheet (781) 27 (282) (1,037) Off-balance sheet financial instruments and other credit lines Guarantees (30) (8) (38) Loan commitments (4) (33) (37) Other credit lines (35) (35) Total off-balance sheet financial instruments and other credit lines (34) (76) (110) Total (815) 27 (357) (1,146) of which: stage 1 (148) (148) of which: stage 2 (193) (193) of which: stage 3 (16) 5 (806) 1 Includes stage 1 and stage 2 expected credit losses and additional stage 3 expected credit losses. 2 The reversal of USD 27 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” 3 Includes the reversal of collective allowances of USD 13 million. 4 Includes USD 84 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. 5 The incremental increase in stage 3 allowances of USD 16 million arises from additional consideration of forward looking scenarios under IFRS 9. |
IFRS 9 impact on other comprehensive income and retained earnings | IFRS 9 impact on other comprehensive income and retained earnings USD million Other comprehensive income recognized directly in equity, net of tax Reclassification of financial assets (available for sale to fair value through profit or loss) – equity instruments (204) Reclassification of financial assets (available for sale to fair value through profit or loss) – debt instruments (5) Tax (expense) / benefit 134 Total change in other comprehensive income (74) Retained earnings Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) (310) Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) 209 Recognition of ECL for on-balance sheet financial assets (282) Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) 5 Recognition of derivative loan commitments measured at fair value through profit or loss (61) Derecognition of liabilities for deferred fees on other loan commitments 4 Derecognition of derivative loan commitments measured at fair value through profit or loss 2 Recognition of ECL for off-balance sheet positions (76) Tax (expense) / benefit (9) Total change in retained earnings (518) Total change in equity due to the adoption of IFRS 9 (591) |
Disclosure of new balance sheet presentation explanatory | Retrospective amendments to UBS AG’s balance sheet presentation as of 31 December 2017 USD million 31.12.17 31.12.17 Assets References Former presentation Revised presentation Cash and balances at central banks 90,045 90,045 Loans and advances to banks (formerly: Due from banks) 14,047 14,047 Receivables from securities financing transactions (new line) 1 91,951 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 1 12,714 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 1 79,238 Cash collateral receivables on derivative instruments 24,040 24,040 Loans and advances to customers (formerly: Loans) 2 330,038 328,952 Financial assets held to maturity (superseded) 3 9,403 Other financial assets measured at amortized cost (new line) 2,3,7 37,890 Total financial assets measured at amortized cost 586,925 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 4 134,190 129,509 of which: assets pledged as collateral that may be sold or repledged by counterparties 36,277 36,277 Derivative financial instruments (formerly: Positive replacement values) 121,286 121,286 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 5 60,070 Financial assets designated at fair value 5 60,070 Total financial assets measured at fair value through profit or loss 310,865 Financial assets available for sale (superseded) 6 8,889 Financial assets measured at fair value through other comprehensive income (new line) 6 8,889 Investments in associates 1,045 1,045 Property, equipment and software 8,191 8,191 Goodwill and intangible assets 6,563 6,563 Deferred tax assets 9,993 9,993 Other non-financial assets (new line) 4,7 7,548 Other assets (superseded) 7 30,268 Total assets 940,020 940,020 Liabilities Amounts due to banks 7,728 7,728 Payables from securities financing transactions (new line) 8 17,485 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 8 1,835 Repurchase agreements (newly included in Payables from securities financing transactions) 8 15,650 Cash collateral payables on derivative instruments 31,029 31,029 Customer deposits (formerly: Due to customers) 9 458,705 423,058 Funding from UBS Group AG and its subsidiaries (new line, formerly included within Due to customers) 9 35,648 Debt issued measured at amortized cost 107,458 107,458 Other financial liabilities measured at amortized cost (new line) 11 38,092 Total financial liabilities measured at amortized cost 660,498 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 31,251 31,251 Derivative financial instruments (formerly: Negative replacement values) 119,138 119,138 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 10 55,604 Debt issued designated at fair value (new line) 10 50,782 Other financial liabilities designated at fair value (new line) 10,11 16,643 Total financial liabilities measured at fair value through profit or loss 217,814 Provisions 3,164 3,164 Other non-financial liabilities (new line) 11 6,499 Other liabilities (superseded) 11 56,412 Total liabilities 887,974 887,974 Total liabilities and equity 940,020 940,020 |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Operating Segments Explanatory | Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2018 1 Net interest income 4,206 2,057 (31) 937 (398) (780) 35 6,025 Non-interest income 12,659 2,166 1,874 7,641 (158) (123) 246 24,306 Allocations from CC Group ALM 90 56 15 (391) 43 295 (108) 0 Income 2 16,956 4,278 1,857 8,188 (513) (608) 172 30,330 Credit loss (expense) / recovery (15) (56) 0 (38) 0 (1) (8) (118) Total operating income 16,941 4,222 1,857 8,150 (513) (609) 165 30,213 Personnel expenses 7,683 803 703 2,941 3,927 41 35 16,132 General and administrative expenses 1,724 285 202 651 3,789 42 104 6,797 Services (to) / from CC and other BDs 3,852 1,208 498 2,889 (8,624) 1 176 0 of which: services from CC Services 3,740 1,285 541 2,811 (8,697) 169 153 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,199 0 0 1,228 Amortization and impairment of intangible assets 3 50 0 1 12 2 0 0 65 Total operating expenses 13,313 2,310 1,406 6,501 293 84 315 24,222 Operating profit / (loss) before tax 3,628 1,912 451 1,649 (806) (693) (150) 5,991 Tax expense / (benefit) 1,468 Net profit / (loss) 4,522 Additional information Total assets 200,036 138,809 24,371 258,691 21,733 280,135 34,715 958,489 Additions to non-current assets 196 23 1 89 1,666 0 0 1,975 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 1 Net interest income 3,722 1,954 (33) 1,217 (355) 128 24 6,656 Non-interest income 12,196 1,807 2,097 7,020 76 (147) 50 23,098 Allocations from CC Group ALM 377 184 19 (351) 123 (268) (84) 0 Income 2 16,295 3,945 2,083 7,886 (157) (288) (11) 29,754 Credit loss (expense) / recovery (8) (20) 0 (92) 0 0 (11) (131) Total operating income 16,287 3,925 2,083 7,794 (157) (288) (22) 29,622 Personnel expenses 7,674 852 731 3,006 3,857 34 44 16,199 General and administrative expenses 1,263 296 235 675 4,336 27 117 6,949 Services (to) / from CC and other BDs 3,726 1,156 524 2,824 (8,445) (13) 228 0 of which: services from CC Services 3,626 1,251 562 2,729 (8,510) 145 198 0 Depreciation and impairment of property, equipment and software 4 13 1 10 1,024 0 0 1,053 Amortization and impairment of intangible assets 3 49 0 3 12 7 0 0 71 Total operating expenses 12,717 2,317 1,495 6,527 779 48 388 24,272 Operating profit / (loss) before tax 3,571 1,607 587 1,267 (935) (336) (411) 5,351 Tax expense / (benefit) 4,305 Net profit / (loss) 1,046 Additional information Total assets 194,990 139,062 14,638 269,731 21,371 252,092 47,395 939,279 Additions to non-current assets 120 15 1 3 1,606 0 0 1,746 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 1 Net interest income 3,318 1,914 (33) 1,012 (326) 599 3 6,487 Non-interest income 11,427 1,791 1,980 7,041 186 (237) 89 22,279 Allocations from CC Group ALM 512 336 7 (264) 37 (517) (112) 0 Income 2 15,257 4,042 1,955 7,790 (103) (155) (20) 28,766 Credit loss (expense) / recovery (8) (6) 0 (11) 0 0 (12) (38) Total operating income 15,249 4,035 1,955 7,779 (103) (155) (32) 28,729 Personnel expenses 7,254 855 736 3,122 3,847 31 67 15,913 General and administrative expenses 1,221 287 244 812 4,192 17 744 7,517 Services (to) / from CC and other BDs 3,627 1,093 512 2,798 (8,263) (49) 283 0 of which: services from CC Services 3,520 1,201 537 2,707 (8,303) 112 227 0 Depreciation and impairment of property, equipment and software 4 15 1 22 955 0 0 997 Amortization and impairment of intangible assets 3 54 0 5 12 21 0 0 93 Total operating expenses 12,159 2,250 1,498 6,765 753 (1) 1,094 24,519 Operating profit / (loss) before tax 3,090 1,785 457 1,014 (856) (154) (1,126) 4,209 Tax expense / (benefit) 777 Net profit / (loss) 3,432 Additional information Total assets 178,250 137,467 11,817 238,066 23,488 262,530 67,288 918,906 Additions to non-current assets 31 24 1 3 1,781 0 0 1,840 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. 3 Refer to Note 16 for more information. |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Operating Segments Explanatory | Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2018 1 Net interest income 4,206 2,057 (31) 937 (410) (845) 35 5,949 Non-interest income 12,659 2,167 1,874 7,642 312 (89) 246 24,811 Allocations from CC Group ALM 90 56 15 (391) 43 295 (108) 0 Income 2 16,957 4,279 1,857 8,189 (56) (639) 172 30,759 Credit loss (expense) / recovery (15) (56) 0 (38) 0 0 (8) (117) Total operating income 16,941 4,223 1,857 8,151 (56) (639) 165 30,642 Personnel expenses 7,680 799 702 2,936 1,800 40 35 13,992 General and administrative expenses 1,771 289 206 706 6,956 43 105 10,075 Services (to) / from CC and other BDs 3,851 1,206 496 2,884 (8,615) 1 176 0 of which: services from CC Services 3,739 1,282 539 2,806 (8,688) 169 152 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,023 0 0 1,052 Amortization and impairment of intangible assets 3 50 0 1 12 2 0 0 65 Total operating expenses 13,356 2,309 1,407 6,546 1,166 84 317 25,184 Operating profit / (loss) before tax 3,586 1,914 450 1,604 (1,221) (723) (152) 5,458 Tax expense / (benefit) 1,345 Net profit / (loss) 4,113 Additional information Total assets 200,036 138,873 24,371 258,871 20,193 280,996 34,715 958,055 Additions to non-current assets 196 23 1 89 1,448 0 0 1,757 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 1 Net interest income 3,723 1,954 (33) 1,217 (361) 84 24 6,607 Non-interest income 12,197 1,807 2,097 7,020 476 (77) 50 23,569 Allocations from CC Group ALM 377 184 19 (351) 123 (268) (84) 0 Income 2 16,296 3,945 2,083 7,886 237 (260) (11) 30,176 Credit loss (expense) / recovery (8) (20) 0 (92) 0 0 (11) (131) Total operating income 16,288 3,925 2,083 7,795 237 (260) (22) 30,044 Personnel expenses 7,679 849 731 3,007 2,608 34 44 14,952 General and administrative expenses 1,308 300 238 728 6,283 27 116 9,001 Services (to) / from CC and other BDs 3,726 1,154 522 2,822 (8,438) (13) 228 0 of which: services from CC Services 3,626 1,248 560 2,727 (8,503) 145 197 0 Depreciation and impairment of property, equipment and software 4 13 1 10 916 0 0 945 Amortization and impairment of intangible assets 3 49 0 3 12 7 0 0 71 Total operating expenses 12,766 2,316 1,496 6,578 1,376 48 388 24,969 Operating profit / (loss) before tax 3,522 1,609 587 1,216 (1,139) (308) (410) 5,076 Tax expense / (benefit) 4,242 Net profit / (loss) 834 Additional information Total assets 194,990 139,094 14,639 269,849 19,907 254,146 47,395 940,020 Additions to non-current assets 120 15 1 3 1,509 0 0 1,648 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. 3 Refer to Note 16 for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG USD million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 1 Net interest income 3,318 1,914 (33) 1,012 (326) 568 3 6,457 Non-interest income 11,427 1,791 1,980 7,039 253 (169) 89 22,411 Allocations from CC Group ALM 512 336 7 (264) 37 (517) (112) 0 Income 2 15,257 4,042 1,955 7,788 (36) (118) (20) 28,868 Credit loss (expense) / recovery (8) (6) 0 (11) 0 0 (12) (38) Total operating income 15,250 4,035 1,955 7,777 (36) (118) (32) 28,831 Personnel expenses 7,253 854 736 3,122 3,718 31 67 15,782 General and administrative expenses 1,261 288 245 861 4,361 17 743 7,776 Services (to) / from CC and other BDs 3,626 1,092 512 2,790 (8,255) (49) 283 0 of which: services from CC Services 3,520 1,200 537 2,700 (8,295) 112 227 0 Depreciation and impairment of property, equipment and software 4 15 1 22 950 0 0 992 Amortization and impairment of intangible assets 3 54 0 5 12 21 0 0 93 Total operating expenses 12,199 2,250 1,499 6,807 796 (1) 1,093 24,643 Operating profit / (loss) before tax 3,051 1,785 455 970 (832) (117) (1,125) 4,188 Tax expense / (benefit) 753 Net profit / (loss) 3,435 Additional information Total assets 178,250 137,499 11,816 238,151 23,630 262,603 67,288 919,236 Additions to non-current assets 31 24 1 3 1,763 0 0 1,821 1 Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes. 2 Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. 3 Refer to Note 16 for more information. |
Segment reporting by geographic
Segment reporting by geographic location (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2018 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.8 42 7.4 43 of which: USA 12.2 41 7.0 41 Asia Pacific 5.0 16 0.9 5 Europe, Middle East and Africa 6.3 21 2.0 12 Switzerland 7.3 24 6.8 40 Global (1.1) (3) 0.0 0 Total 30.2 100 17.1 100 For the year ended 31 December 2017 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.1 41 7.4 44 of which: USA 11.6 39 6.9 41 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa 6.2 21 2.0 12 Switzerland 7.0 24 6.5 40 Global (0.5) (2) 0.0 0 Total 29.6 100 16.7 100 For the year ended 31 December 2016 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 11.6 40 7.2 47 of which: USA 11.1 39 6.8 44 Asia Pacific 4.3 15 0.7 4 Europe, Middle East and Africa 6.2 22 1.8 11 Switzerland 7.0 24 5.9 38 Global (0.4) (1) 0.0 0 Total 28.7 100 15.6 100 1 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. |
UBS AG | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2018 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.8 42 7.4 46 of which: USA 12.2 40 7.0 43 Asia Pacific 5.0 16 0.8 5 Europe, Middle East and Africa 6.3 20 1.8 11 Switzerland 7.3 24 6.2 38 Global (0.6) (2) 0.0 0 Total 30.6 100 16.2 100 For the year ended 31 December 2017 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.1 40 7.4 47 of which: USA 11.6 39 6.9 44 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa 6.2 21 1.7 10 Switzerland 7.0 23 6.0 38 Global 0.0 0 0.0 0 Total 30.0 100 15.8 100 For the year ended 31 December 2016 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 11.6 40 7.2 47 of which: USA 11.1 38 6.8 44 Asia Pacific 4.3 15 0.6 4 Europe, Middle East and Africa 6.2 22 1.8 11 Switzerland 7.0 24 5.9 38 Global (0.3) (1) 0.0 0 Total 28.8 100 15.5 100 1 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. |
Net interest income and other i
Net interest income and other income from fair value changes on financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments Explanatory | Income statement notes Note 3 Net interest income and other net income from fair value changes on financial instruments Change in presentation of n et interest income and o ther net income from fair value changes on financial instruments The table on the following pages reflects certain presentation changes made to reflect the effects from the adoption of new standards and interpretations in 2018. These changes are summariz ed as follows: In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, UBS presents interest income an d interest expense calculated , usin g the effective interest rate method, on financial instruments measured at amortiz ed cost and financial assets measured at fair value through other comprehensive income separately from interest income and expense on financial instruments measured at fair value through profit or loss (FVTPL) in the income statement. Comparative informati on has been adjusted accordingly. As a result of this change, forward points on certain short - duration foreign exchange contracts are now presented within Interest income from financial instruments at fair value held for trading that were previously presen ted within Interest income from loans and deposits . Comparative information was restated accordingly. Upon adoption of IFRS 9, certain assets and liabilities were reclassified from amortized cost to fair value through profit or loss ( auction rate securitie s, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances ). This has resulted in the interest income from these instruments moving from Interest income (expense) from financial instruments measured at amortized cost to I nterest income (expense) from financial instruments measured at fair value through profit or loss . These changes have been applied prospectively from 1 January 2018 with certain prior-period information being adjusted for comparability. Comparative informa tion for brokerage balances now separately presents the related interest income and expense , which was formerly included within Interest income (expense) from loans and deposits . A new line, Interest income from financial instruments at fair value not held for trading , has been included to accommodate in particular interest income from financial assets previously designated at fair value under IAS 39, which are now mandatorily classified at fair value through profit or loss under IFRS 9. Comparative informa tion has been adjusted accordingly. N et gains / losses from financial assets previously designated at fair value under IAS 39 (2017: net gains of USD 2,614 million ; 2016: net losses of USD 174 million) are no longer separately disclosed in the table on th e following pages as assets are now mandatorily classified at fair value through profit or loss under IFRS 9. For the year ended USD million 31.12.18 31.12.17 31.12.16 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,710 5,018 5,403 Net interest income from financial instruments measured at fair value through profit or loss 2,315 1,638 1,084 Other net income from fair value changes on financial instruments 5,984 5,065 5,023 Total 1 12,008 11,721 11,510 Global Wealth Management 5,254 5,149 4,893 of which: net interest income 4,310 4,103 3,843 of which: transaction-based income from foreign exchange and other intermediary activity 2 944 1,046 1,050 Personal & Corporate Banking 2,514 2,510 2,563 of which: net interest income 2,106 2,127 2,225 of which: transaction-based income from foreign exchange and other intermediary activity 2 408 383 337 Asset Management (30) (24) (29) Investment Bank 4,812 4,363 4,330 Corporate Client Solutions 1,056 1,087 830 Investor Client Services 3,756 3,276 3,500 Corporate Center (541) (278) (246) CC – Services (159) (43) (90) CC – Group ALM (554) (162) (96) CC – Non-core and Legacy Portfolio 173 (72) (60) Net interest income 3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4,5 7,801 6,722 8,079 Interest income from brokerage balances 1,030 906 Interest income from securities financing transactions 6 1,567 1,573 1,152 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 581 260 Interest income from other financial instruments measured at amortized cost 266 99 54 Interest income from debt instruments measured at fair value through other comprehensive income 142 152 189 Interest income from derivative instruments designated as cash flow hedges 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,100 10,422 10,379 Interest expense on loans and deposits 7 1,980 1,050 689 Interest expense on brokerage balances 354 147 Interest expense on securities financing transactions 8 1,130 1,473 1,251 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 568 241 Interest expense on debt issued 3,281 2,528 2,889 Total interest expense from financial instruments measured at amortized cost 6,391 5,404 4,976 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,710 5,018 5,403 Net interest income from financial instruments measured at fair value through profit or loss Interest income from financial instruments at fair value held for trading 4,9 3,724 3,483 3,201 Interest income from brokerage balances 1,243 Interest income from financial instruments at fair value not held for trading 9 1,951 512 330 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 10 970 Other interest income 50 61 48 Total interest income from financial instruments measured at fair value through profit or loss 6,968 4,056 3,579 Interest expense on financial instruments at fair value held for trading 11 1,671 1,537 1,644 Interest expense on brokerage balances 668 Interest expense on financial instruments designated at fair value 2,314 881 851 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 12 765 Total interest expense from financial instruments measured at fair value through profit or loss 4,653 2,418 2,495 Total net interest income from financial instruments measured at fair value through profit or loss 2,315 1,638 1,084 For the year ended USD million 31.12.18 31.12.17 31.12.16 Other net income from fair value changes on financial instruments Investment Bank Corporate Client Solutions 709 611 188 Investment Bank Investor Client Services 3,537 2,863 3,382 Other business divisions and Corporate Center 1,738 1,591 1,453 Other net income from fair value changes on financial instruments 5,984 5,065 5,023 of which: net gains / (losses) from financial liabilities designated at fair value 13 9,382 (3,979) (1,516) 1 Net interest income and other net income from fair value changes on financial instruments presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Mainly includes spread-related income in connection with client-driven transactions, foreign currency translation effects and income and expenses from precious metals, which are included in the income statement line Other net income from fair value changes on financial instruments. 3 Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). 4 As a consequence of amendments to IAS 1, Presentation of Financial Statements, effective 1 January 2018, forward points on certain short-duration foreign exchange contracts previously presented within Interest income from loans and deposits are now presented within Interest income from financial instruments at fair value held for trading. Comparative information was restated accordingly. 5 Consists of interest income from cash and balances at central banks, loans and advances to banks, and negative interest on amounts due to banks and customer deposits. 6 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 7 Consists of interest expense on amounts due to banks and customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 8 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 9 Includes dividend income. 10 Includes interest income on certain reverse repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding repurchase agreements. 11 Includes expense related to dividend payment obligations on financial instruments held for trading. 12 Includes interest expense on certain repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding reverse repurchase agreements. 13 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Other net income from fair value changes on financial instruments. 2018 includes a net gain of USD 2,152 million related to amounts due under unit-linked investment contracts, which are designated at fair value under IFRS 9. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Of Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments Explanatory | Income statement notes Note 3 Net interest income and other net income from fair value changes on financial instruments Change in presentation of net interest income and other net income from fair value changes on financial instruments The table on the following page s reflects certain presentation changes made to reflect the effects from the adoption of new standards and interpretations in 2018. These changes are summarized as follows: In line with amendments to IAS 1, Presentation of Financial Statements , from 1 January 2018, UBS presents interest income and interest expense calculated , using the effective interest rate method , on financial instruments measured at amortized cost and financial assets measured at fair value through other comprehensive income separately from inter est income and expense on financial instruments measured at fair value through profit or loss (FVTPL) in the income statement. Comparative information has been adjusted accordingly. As a result of this change, forward points on certain short - duration forei gn exchange contracts are now presented within Interest income from financial instruments at fair value held for trading that were previously presented within Interest income from loans and deposits . Comparative information was restated accordingly. Upon a doption of IFRS 9, certain assets and liabilities were reclassified from amortized cost to fair value through profit or loss (auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances). This has res ulted in the interest income from these instruments moving from Interest income (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss . These cha nges have been applied prospectively from 1 January 2018 with certain prior - period information being adjusted for comparability. Comparative information for brokerage balances now separately presents the related interest income and expense , which was forme rly included within Interest income (expense) from loans and deposits . A new line, Interest income from financial instruments at fair value not held for trading , has been included to accommodate in particular interest income from fina ncial assets previously designated at fair value under IAS 39, which are now mandatorily classified at fair value through profit or loss under IFRS 9. Comparative information has been adjusted accordingly. Net gains / losses from financial assets previous ly designated at fair value under IAS 39 (2017: net gains of USD 2, 567 million ; 2016: net losses of USD 17 1 million) are no longer separately disclosed in the table on the following pages as assets are now mandatorily classified at fair value through profi t or loss under IFRS 9. For the year ended USD million 31.12.18 31.12.17 31.12.16 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,628 4,969 5,372 Net interest income from financial instruments measured at fair value through profit or loss 2,321 1,638 1,084 Other net income from fair value changes on financial instruments 5,977 5,067 5,018 Total 1 11,925 11,674 11,475 Global Wealth Management 5,254 5,150 4,893 of which: net interest income 4,310 4,104 3,843 of which: transaction-based income from foreign exchange and other intermediary activity 2 944 1,046 1,050 Personal & Corporate Banking 2,514 2,510 2,563 of which: net interest income 2,106 2,127 2,225 of which: transaction-based income from foreign exchange and other intermediary activity 2 408 383 337 Asset Management (30) (24) (29) Investment Bank 4,813 4,364 4,328 Corporate Client Solutions 1,056 1,087 830 Investor Client Services 3,756 3,276 3,498 Corporate Center (626) (325) (279) CC – Services (177) (49) (93) CC – Group ALM (621) (204) (126) CC – Non-core and Legacy Portfolio 173 (72) (60) Net interest income 3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4,5 7,822 6,736 8,075 Interest income from brokerage balances 1,030 906 Interest income from securities financing transactions 6 1,567 1,573 1,152 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 663 252 Interest income from other financial instruments measured at amortized cost 266 99 54 Interest income from debt instruments measured at fair value through other comprehensive income 142 152 189 Interest income from derivative instruments designated as cash flow hedges 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,121 10,437 10,375 Interest expense on loans and deposits 7 3,566 2,161 1,537 Interest expense on brokerage balances 354 147 Interest expense on securities financing transactions 8 1,130 1,473 1,251 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 249 127 Interest expense on debt issued 1,797 1,480 2,068 Total interest expense from financial instruments measured at amortized cost 6,494 5,468 5,002 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,628 4,969 5,372 Net interest income from financial instruments measured at fair value through profit or loss Interest income from financial instruments at fair value held for trading 4,9 3,729 3,483 3,201 Interest income from brokerage balances 1,243 Interest income from financial instruments at fair value not held for trading 9 1,786 512 330 of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 10 974 Other interest income 215 61 48 Total interest income from financial instruments measured at fair value through profit or loss 6,974 4,056 3,579 Interest expense on financial instruments at fair value held for trading 11 1,671 1,537 1,644 Interest expense on brokerage balances 668 Interest expense on financial instruments designated at fair value 2,314 881 851 of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 12 124 Total interest expense from financial instruments measured at fair value through profit or loss 4,653 2,418 2,495 Total net interest income from financial instruments measured at fair value through profit or loss 2,321 1,638 1,084 For the year ended USD million 31.12.18 31.12.17 31.12.16 Other net income from fair value changes on financial instruments Investment Bank Corporate Client Solutions 709 611 188 Investment Bank Investor Client Services 3,537 2,863 3,380 Other business divisions and Corporate Center 1,730 1,593 1,451 Other net income from fair value changes on financial instruments 5,977 5,067 5,018 of which: net gains / (losses) from financial liabilities designated at fair value 13 9,382 (3,979) (1,516) 1 Net interest income and other net income from fair value changes on financial instruments presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Mainly includes spread-related income in connection with client-driven transactions, foreign currency translation effects and income and expenses from precious metals, which are included in the income statement line Other net income from fair value changes on financial instruments. 3 Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). 4 As a consequence of amendments to IAS 1, Presentation of Financial Statements, effective 1 January 2018, forward points on certain short-duration foreign exchange contracts previously presented within Interest income from loans and deposits are now presented within Interest income from financial instruments at fair value held for trading. Comparative information was restated accordingly. 5 Consists of interest income from cash and balances at central banks, loans and advances to banks, and negative interest on amounts due to banks and customer deposits. 6 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 7 Consists of interest expense on amounts due to banks and customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 8 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 9 Includes dividend income. 10 Includes interest income on certain reverse repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding repurchase agreements. 11 Includes expense related to dividend payment obligations on financial instruments held for trading. 12 Includes interest expense on certain repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding reverse repurchase agreements. 13 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Other net income from fair value changes on financial instruments. 2018 includes a net gain of USD 2,152 million related to amounts due under unit-linked investment contracts, which are designated at fair value under IFRS 9. Refer to Note 1c for more information. |
Net fee and commission income (
Net fee and commission income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income 1 For the year ended USD million 31.12.18 31.12.17 31.12.16 Underwriting fees 811 1,003 739 of which: equity underwriting fees 431 573 356 of which: debt underwriting fees 380 429 383 M&A and corporate finance fees 768 698 742 Brokerage fees 3,521 3,820 3,802 Investment fund fees 4,954 4,322 4,265 Portfolio management and related services 7,756 7,666 7,069 Other 1,786 1,854 1,757 Total fee and commission income 2 19,598 19,362 18,374 of which: recurring 12,911 of which: transaction-based 6,594 of which: performance-based 93 Brokerage fees paid 316 673 769 Other 1,387 1,167 1,013 Total fee and commission expense 1,703 1,840 1,781 Net fee and commission income 17,895 17,522 16,593 of which: net brokerage fees 3,205 3,147 3,033 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated. 2 Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,525 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 97 million for Corporate Center. |
UBS AG | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income 1 For the year ended USD million 31.12.18 31.12.17 31.12.16 Underwriting fees 843 1,029 787 of which: equity underwriting fees 431 573 356 of which: debt underwriting fees 412 456 431 M&A and corporate finance fees 768 698 742 Brokerage fees 3,521 3,821 3,804 Investment fund fees 4,955 4,322 4,265 Portfolio management and related services 7,756 7,666 7,069 Other 1,789 1,854 1,758 Total fee and commission income 2 19,632 19,390 18,425 of which: recurring 12,911 of which: transaction-based 6,629 of which: performance-based 93 Brokerage fees paid 316 673 769 Other 1,387 1,167 1,013 Total fee and commission expense 1,703 1,840 1,781 Net fee and commission income 17,930 17,550 16,644 of which: net brokerage fees 3,205 3,148 3,035 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated. 2 Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,557 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 100 million for Corporate Center. |
Other income (Tables)
Other income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.18 31.12.17 31.12.16 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (290) 2,3 32 (96) Net gains / (losses) from disposals of investments in associates 46 4 0 0 Share of net profits of associates and joint ventures 529 5 76 109 Impairments related to associates (7) Total 284 101 12 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 195 350 Impairments 0 (15) (5) Total 1 180 345 Net gains / (losses) from disposals of financial assets measured at amortized cost 0 14 (3) Net income from properties (excluding net gains / (losses) from disposals) 6 24 24 26 Net gains / (losses) from disposals of properties held for sale 40 3 0 128 Other 79 191 156 Total other income 427 511 663 1 Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information. 2 Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. 3 Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. 4 Reflects a net foreign currency translation gain related to UBS Securities China. Refer to Note 32 for more information. 5 Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. 6 Includes net rent received from third parties and net operating expenses. |
UBS AG | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.18 31.12.17 31.12.16 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (292) 2,3 32 (96) Net gains / (losses) from disposals of investments in associates 46 4 0 0 Share of net profits of associates and joint ventures 529 5 76 109 Impairments related to associates (7) Total 283 101 12 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 195 350 Impairments 0 (15) (5) Total 1 180 345 Net gains / (losses) from disposals of financial assets measured at amortized cost 0 14 (3) Net income from properties (excluding net gains / (losses) from disposals) 6 24 24 26 Net gains / (losses) from disposals of properties held for sale 40 3 0 128 Income from shared services provided to UBS Group AG or its subsidiaries 7 478 395 48 Other 80 238 193 Total other income 905 952 749 1 Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information. 2 Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. 3 Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. 4 Reflects a net foreign currency translation gain related to UBS Securities China. Refer to Note 32 for more information. 5 Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. 6 Includes net rent received from third parties and net operating expenses. 7 Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
Personnel expenses (Tables)
Personnel expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Salaries 1 6,448 6,154 6,305 Variable compensation – performance awards 2 2,995 3,151 3,013 of which: guarantees for new hires 43 36 30 Variable compensation – other 2 243 252 425 of which: replacement payments 3 72 72 87 of which: forfeiture credits (136) (107) (74) of which: severance payments 4 123 113 220 of which: retention plan and other payments 5 185 174 191 Financial advisor variable compensation 2,6 4,054 4,064 3,740 Contractors 489 460 426 Social security 791 814 755 Pension and other post-employment benefit plans 7 457 723 678 Other personnel expenses 654 581 570 Total personnel expenses 16,132 16,199 15,913 1 Includes role-based allowances. 2 Refer to Note 30 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor variable compensation consists of formulaic compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, new assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Changes to the pension fund of UBS in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of USD 241 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. |
UBS AG | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Salaries 1 5,199 5,423 6,210 Variable compensation – performance awards 2 2,794 3,054 3,005 of which: guarantees for new hires 43 36 30 Variable compensation – other 2 220 231 425 of which: replacement payments 3 68 70 87 of which: forfeiture credits (136) (106) (74) of which: severance payments 4 106 95 220 of which: retention plan and other payments 5 181 172 191 Financial advisor variable compensation 2,6 4,054 4,064 3,740 Contractors 184 318 425 Social security 629 731 742 Pension and other post-employment benefit plans 7 363 601 677 Other personnel expenses 549 531 559 Total personnel expenses 8 13,992 14,952 15,782 1 Includes role-based allowances. 2 Refer to Note 30 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor variable compensation consists of formulaic compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, new assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Changes to the pension fund of UBS AG in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS AG. As a consequence, a pre-tax gain of USD 132 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. 8 The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Occupancy 914 908 946 Rent and maintenance of IT and other equipment 654 570 517 Communication and market data services 638 622 634 Administration 590 612 716 of which: UK and German bank levy 1 58 20 124 Marketing and public relations 366 419 473 Travel and entertainment 425 425 428 Professional fees 1,015 1,227 1,247 Outsourcing of IT and other services 1,427 1,597 1,656 Litigation, regulatory and similar matters 2 657 434 805 Other 110 135 94 Total general and administrative expenses 6,797 6,949 7,517 1 The UK bank levy expenses of USD 40 million for 2018 and USD 17 million for 2017 included a credit of USD 45 million and USD 85 million, respectively, related to prior years. 2 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 21 for more information. Also includes recoveries from third parties of USD 29 million, USD 55 million and USD 13 million for the years ended 31 December 2018, 31 December 2017 and 31 December 2016, respectively. |
UBS AG | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended USD million 31.12.18 31.12.17 31.12.16 Occupancy 852 865 931 Rent and maintenance of IT and other equipment 326 422 517 Communication and market data services 520 544 632 Administration 5,383 3,644 1,077 of which: shared services costs charged by UBS Group AG or its subsidiaries 1 4,803 3,046 370 of which: UK and German bank levy 2 58 20 124 Marketing and public relations 277 338 470 Travel and entertainment 367 382 416 Professional fees 870 1,086 1,238 Outsourcing of IT and other services 729 1,169 1,610 Litigation, regulatory and similar matters 3 657 434 805 Other 95 118 79 Total general and administrative expenses 10,075 9,001 7,776 1 Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. 2 The UK bank levy expenses of USD 40 million for 2018 and USD 17 million for 2017 included a credit of USD 45 million and USD 85 million, respectively, related to prior years. 3 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 21 for more information. Also includes recoveries from third parties of USD 29 million, USD 55 million and USD 13 million for the years ended 31 December 2018, 31 December 2017 and 31 December 2016, respectively. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended USD million 31.12.18 31.12.17 31.12.16 Tax expense / (benefit) Swiss Current 469 455 465 Deferred 2,377 107 614 Non-Swiss Current 575 435 356 Deferred (1,953) 3,308 (658) Total income tax expense / (benefit) recognized in the income statement 1,468 4,305 777 |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended USD million 31.12.18 31.12.17 31.12.16 Operating profit / (loss) before tax 5,991 5,351 4,209 of which: Swiss 1,843 2,093 2,674 of which: non-Swiss 4,148 3,258 1,535 Income taxes at Swiss tax rate of 21% 1,258 1,124 884 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 55 217 73 Tax effects of losses not recognized 223 173 182 Previously unrecognized tax losses now utilized (25) (368) (38) Non-taxable and lower taxed income (430) (309) (347) Non-deductible expenses and additional taxable income 905 606 933 Adjustments related to prior years – current tax 114 (13) 22 Adjustments related to prior years – deferred tax 26 4 2 Change in deferred tax recognition (795) (165) (969) Adjustments to deferred tax balances arising from changes in tax rates 0 2,897 19 Other items 137 139 17 Income tax expense / (benefit) 1,468 4,305 777 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,571 (565) 4,006 5,165 (1,001) 4,164 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,150 (192) 959 1,165 (228) 937 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 202 0 202 2,392 0 2,392 of which: other 670 (298) 372 1,123 (713) 410 Total deferred tax assets 19,659 (9,554) 10,105 22,537 (12,481) 10,056 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 35 Total deferred tax liabilities 88 54 1 Less deferred tax liabilities as applicable. |
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block] | USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,571 (565) 4,006 5,165 (1,001) 4,164 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,150 (192) 959 1,165 (228) 937 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 202 0 202 2,392 0 2,392 of which: other 670 (298) 372 1,123 (713) 410 Total deferred tax assets 19,659 (9,554) 10,105 22,537 (12,481) 10,056 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 35 Total deferred tax liabilities 88 54 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards USD million 31.12.18 31.12.17 Within 1 year 0 171 From 2 to 5 years 464 106 From 6 to 10 years 16,297 3,267 From 11 to 20 years 4,457 26,688 No expiry 17,210 17,195 Total 38,428 47,427 |
UBS AG | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended USD million 31.12.18 31.12.17 31.12.16 Operating profit / (loss) before tax 5,458 5,076 4,188 of which: Swiss 1,427 1,911 2,614 of which: non-Swiss 4,031 3,165 1,574 Income taxes at Swiss tax rate of 21% 1,146 1,066 879 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 68 230 70 Tax effects of losses not recognized 222 173 182 Previously unrecognized tax losses now utilized (25) (368) (38) Non-taxable and lower taxed income (419) (306) (337) Non-deductible expenses and additional taxable income 883 588 898 Adjustments related to prior years – current tax 114 (14) 22 Adjustments related to prior years – deferred tax 27 6 2 Change in deferred tax recognition (802) (165) (961) Adjustments to deferred tax balances arising from changes in tax rates 0 2,897 19 Other items 130 135 16 Income tax expense / (benefit) 1,345 4,242 753 |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended USD million 31.12.18 31.12.17 31.12.16 Tax expense / (benefit) Swiss Current 434 408 431 Deferred 2,326 91 624 Non-Swiss Current 537 435 356 Deferred (1,952) 3,308 (658) Total income tax expense / (benefit) recognized in the income statement 1,345 4,242 753 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,526 (559) 3,967 5,102 (1,001) 4,101 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,146 (192) 954 1,162 (228) 934 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 179 0 179 2,344 0 2,344 of which: other 653 (292) 361 1,111 (713) 398 Total deferred tax assets 19,614 (9,548) 10,066 22,474 (12,481) 9,993 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 32 Total deferred tax liabilities 88 51 1 Less deferred tax liabilities as applicable. |
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block] | USD million 31.12.18 31.12.17 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 15,088 (8,989) 6,099 17,372 (11,480) 5,892 Temporary differences 4,526 (559) 3,967 5,102 (1,001) 4,101 of which: related to real estate costs capitalized for US tax purposes 2,159 (25) 2,134 0 0 0 of which: related to compensation and benefits 1,146 (192) 954 1,162 (228) 934 of which: related to trading assets 390 (50) 339 485 (60) 425 of which: related to investments in subsidiaries and goodwill 179 0 179 2,344 0 2,344 of which: other 653 (292) 361 1,111 (713) 398 Total deferred tax assets 19,614 (9,548) 10,066 22,474 (12,481) 9,993 Deferred tax liabilities Goodwill and intangible assets 26 19 Other 62 32 Total deferred tax liabilities 88 51 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards USD million 31.12.18 31.12.17 Within 1 year 0 171 From 2 to 5 years 464 106 From 6 to 10 years 16,297 3,267 From 11 to 20 years 4,457 26,688 No expiry 17,210 17,195 Total 38,428 47,427 |
Earnings per share and shares_2
Earnings per share and shares outstanding (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure Of Earnings Per Share Explanatory | As of or for the year ended 31.12.18 31.12.17 31.12.16 Basic earnings (USD million) Net profit / (loss) attributable to shareholders 4,516 969 3,348 Diluted earnings (USD million) Net profit / (loss) attributable to shareholders 4,516 969 3,348 Less: (profit) / loss on own equity derivative contracts (2) 0 0 Net profit / (loss) attributable to shareholders for diluted EPS 4,514 969 3,348 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,730,297,877 3,716,174,261 3,719,764,322 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 111,271,269 120,540,272 104,244,665 Weighted average shares outstanding for diluted EPS 3,841,569,146 3,836,714,533 3,824,008,987 Earnings per share (USD) Basic 1.21 0.26 0.90 Diluted 1.18 0.25 0.88 Shares outstanding Shares issued 3,855,634,749 3,853,096,603 3,850,766,389 Treasury shares 166,467,802 132,301,550 138,441,772 Shares outstanding 3,689,166,947 3,720,795,053 3,712,324,617 1 The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. |
Disclosure of potentially dilutive instruments [text block] | Number of shares 31.12.18 31.12.17 31.12.16 Potentially dilutive instruments Employee share-based compensation awards 3,605,198 24,124,341 46,981,698 Other equity derivative contracts 11,912,450 9,122,496 8,419,122 Total 15,517,648 33,246,837 55,400,820 |
Financial assets at amortized_2
Financial assets at amortized cost and other positions in scope of expected credit loss measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios b ased on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for bal ances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the market (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate B anking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated credit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
UBS AG | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS AG has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based o n shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for balances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the mark et (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate Ba nking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated c redit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Derivative instruments (Tables)
Derivative instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.7 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.7 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.6 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. |
Disclosure of credit derivatives [text block] | 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.7 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.7 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.6 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. |
Disclosure of credit derivatives by type of instrument [text block] | Credit derivatives by type of instrument Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 0.6 43.3 0.5 1.0 44.9 Multi-name index-linked credit default swaps 0.3 0.3 29.1 0.3 0.2 24.4 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.1 Total rate of return swaps 0.2 0.7 4.7 0.0 0.0 2.0 Options and warrants 0.0 0.0 4.1 0.0 0.0 0.1 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 of which: credit derivatives related to economic hedges 0.9 1.3 59.2 0.5 1.1 48.9 of which: credit derivatives related to market-making 0.2 0.4 22.1 0.3 0.2 22.6 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.2 62.9 1.1 0.7 57.1 Multi-name index-linked credit default swaps 0.2 1.0 32.6 0.9 0.2 32.8 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.6 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.4 0.0 0.0 0.1 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 of which: credit derivatives related to economic hedges 0.8 2.5 83.7 1.6 0.9 72.3 of which: credit derivatives related to market-making 0.0 0.5 20.9 0.5 0.0 19.4 |
Disclosure of credit derivatives by counterparty [text block] | Credit derivatives by counterparty Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.1 13.0 0.1 0.2 11.5 Banks 0.4 0.4 29.2 0.3 0.5 25.6 Central clearing counterparties 0.2 0.4 31.9 0.4 0.3 30.8 Other 0.3 0.7 7.2 0.0 0.3 3.5 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.6 0.2 0.1 12.6 Banks 0.3 0.8 38.0 0.6 0.4 32.4 Central clearing counterparties 0.1 1.1 42.5 1.0 0.1 41.6 Other 0.3 0.9 7.4 0.3 0.2 5.0 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 |
UBS AG | |
Derivative [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.8 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.8 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 Derivative instruments (continued) 1,2 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.7 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. |
Disclosure of credit derivatives [text block] | 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 1.4 0.1 3.1 2,873.9 0.1 22.6 0.3 8.5 2,381.2 Swaps 29.5 459.8 23.5 441.8 7,189.1 36.3 553.2 29.0 465.5 7,724.9 Options 7.6 562.2 9.0 550.0 8.7 572.6 10.1 561.4 Exchange-traded contracts Futures 516.1 467.3 Options 0.0 27.7 0.0 26.3 199.7 0.0 23.2 0.0 35.2 159.4 Agency transactions 7 0.0 0.1 0.0 0.0 Total 37.1 1,051.1 32.7 1,021.3 10,778.8 45.2 1,171.6 39.4 1,070.5 10,732.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 68.8 2.1 73.2 2.7 87.4 3.0 96.8 1.2 Total return swaps 0.2 3.0 0.6 3.7 0.2 2.3 0.9 4.0 Options and warrants 0.0 2.7 0.0 1.4 0.0 4.4 0.0 0.1 Total 1.9 74.5 2.7 78.3 2.9 94.1 3.9 100.8 1.2 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 20.3 708.8 20.9 731.2 17.6 699.0 18.3 709.5 Interest and currency swaps 24.8 1,299.7 24.6 1,203.5 24.4 1,308.5 22.3 1,126.9 Options 8.3 613.8 7.8 577.4 6.3 438.1 6.0 407.9 Exchange-traded contracts Futures 0.4 0.4 Options 0.0 3.6 0.0 5.3 0.0 4.8 0.1 5.7 Agency transactions 7 0.0 0.1 0.0 0.0 Total 53.5 2,625.8 53.4 2,517.3 0.4 48.4 2,450.3 46.7 2,250.0 0.4 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 4.7 78.5 5.6 86.3 3.4 73.0 5.7 103.0 Options 5.5 97.6 7.2 139.6 6.0 78.6 8.4 128.2 Exchange-traded contracts Futures 71.7 53.3 Options 10.1 232.8 9.0 262.8 34.1 7.1 238.6 7.1 268.0 31.8 Agency transactions 7 11.2 13.3 6.3 6.3 Total 31.4 408.9 35.0 488.8 105.9 22.8 390.2 27.4 499.2 85.0 Derivative instruments (continued) 1,2 31.12.18 31.12.17 USD billion PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 PRV 3 Notional values related to PRV 4 NRV 5 Notional values related to NRV 4 Other notional values 4,6 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 3.2 0.1 3.4 0.1 3.0 0.1 3.9 Swaps 0.7 15.2 0.4 9.9 0.2 8.7 0.4 13.1 Options 0.4 18.6 0.3 16.1 0.3 11.6 0.1 8.1 Exchange-traded contracts Futures 8.5 8.4 Forward contracts 0.0 6.6 0.0 5.4 0.2 9.6 0.0 8.1 Options 0.1 2.9 0.0 3.7 0.1 0.0 1.0 0.1 4.6 0.3 Agency transactions 7 0.4 0.7 0.9 0.9 Total 1.8 46.4 1.5 38.5 8.6 1.8 33.9 1.6 37.8 8.6 Unsettled purchases of non-derivative financial instruments 8 0.2 17.0 0.1 6.0 0.1 12.4 0.1 11.2 Unsettled sales of non-derivative financial instruments 8 0.4 15.1 0.2 13.2 0.1 15.2 0.1 9.0 Total derivative instruments, based on IFRS netting 9 126.2 4,238.7 125.7 4,163.4 10,893.6 121.3 4,167.7 119.1 3,978.6 10,828.0 1 Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments. 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. 3 PRV: positive replacement value. 4 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 5 NRV: negative replacement value. 6 Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. |
Disclosure of credit derivatives by type of instrument [text block] | Credit derivatives by type of instrument Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 0.6 43.3 0.5 1.0 44.9 Multi-name index-linked credit default swaps 0.3 0.3 29.1 0.3 0.2 24.4 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.1 Total rate of return swaps 0.2 0.7 4.7 0.0 0.0 2.0 Options and warrants 0.0 0.0 4.1 0.0 0.0 0.1 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 of which: credit derivatives related to economic hedges 0.9 1.3 59.2 0.5 1.1 48.9 of which: credit derivatives related to market-making 0.2 0.4 22.1 0.3 0.2 22.6 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.2 62.9 1.1 0.7 57.1 Multi-name index-linked credit default swaps 0.2 1.0 32.6 0.9 0.2 32.8 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.6 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.4 0.0 0.0 0.1 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 of which: credit derivatives related to economic hedges 0.8 2.5 83.7 1.6 0.9 72.3 of which: credit derivatives related to market-making 0.0 0.5 20.9 0.5 0.0 19.4 |
Disclosure of credit derivatives by counterparty [text block] | Credit derivatives by counterparty Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.1 13.0 0.1 0.2 11.5 Banks 0.4 0.4 29.2 0.3 0.5 25.6 Central clearing counterparties 0.2 0.4 31.9 0.4 0.3 30.8 Other 0.3 0.7 7.2 0.0 0.3 3.5 Total 31 December 2018 1.1 1.6 81.3 0.8 1.2 71.4 Protection bought Protection sold USD billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.6 0.2 0.1 12.6 Banks 0.3 0.8 38.0 0.6 0.4 32.4 Central clearing counterparties 0.1 1.1 42.5 1.0 0.1 41.6 Other 0.3 0.9 7.4 0.3 0.2 5.0 Total 31 December 2017 0.8 3.0 104.5 2.1 0.9 91.7 |
Financial assets and liabilit_2
Financial assets and liabilities at fair value held for trading (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading Explanatory | Note 12 Financial assets and liabilities at fair value held for trading USD million 31.12.18 31.12.17 Financial assets at fair value held for trading 1 Government bills / bonds 11,161 13,186 Corporate and municipal bonds 6,768 8,785 Loans 3,566 3,946 Investment fund units 9,716 9,881 Asset-backed securities 392 377 Equity instruments 72,768 81,623 Financial assets for unit-linked investment contracts 2 11,609 Total financial assets at fair value held for trading 104,370 129,407 Financial liabilities at fair value held for trading 1 Government bills / bonds 2,839 5,549 Corporate and municipal bonds 3,530 3,629 Investment fund units 689 841 Equity instruments 21,886 21,230 Other 0 2 Total financial liabilities at fair value held for trading 28,943 31,251 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |
Disclosure Of Financial Assets And Liabilities At Fair Value Held For Trading Explanatory | Note 12 Financial assets and liabilities at fair value held for trading USD million 31.12.18 31.12.17 Financial assets at fair value held for trading 1 Government bills / bonds 11,161 13,186 Corporate and municipal bonds 6,908 8,886 Loans 3,566 3,946 Investment fund units 9,716 9,881 Asset-backed securities 392 377 Equity instruments 72,771 81,624 Financial assets for unit-linked investment contracts 2 11,609 Total financial assets at fair value held for trading 104,513 129,509 Financial liabilities at fair value held for trading 1 Government bills / bonds 2,839 5,549 Corporate and municipal bonds 3,530 3,629 Investment fund units 689 841 Equity instruments 21,892 21,230 Other 0 2 Total financial liabilities at fair value held for trading 28,949 31,251 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Financial assets at fair valu_2
Financial assets at fair value not held for trading (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading [Line Items] | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading Explanatory | Note 13 Financial assets at fair value not held for trading USD million 31.12.18 31.12.17 Financial assets at fair value not held for trading 1 Government bills / bonds 22,493 26,633 Corporate and municipal bonds 17,236 22,022 Financial assets for unit-linked investment contracts 2 21,446 Loans 8,132 10,405 Securities financing transactions 3 9,937 298 Auction rate securities 4 1,664 Investment fund units 710 597 Equity instruments 5 702 Other 369 501 Total financial assets at fair value not held for trading 82,690 60,457 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Auction rate securities have been reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
UBS AG | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading [Line Items] | |
Disclosure Of Financial Assets At Fair Value Not Held For Trading Explanatory | Note 13 Financial assets at fair value not held for trading USD million 31.12.18 31.12.17 Financial assets at fair value not held for trading 1 Government bills / bonds 22,493 26,633 Corporate and municipal bonds 17,236 22,022 Financial assets for unit-linked investment contracts 2 21,446 Loans 8,132 10,405 Securities financing transactions 3 9,937 298 Auction rate securities 4 1,664 Investment fund units 407 210 Equity instruments 5 702 Other 369 501 Total financial assets at fair value not held for trading 82,387 60,070 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Auction rate securities have been reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Financial assets measured at _2
Financial assets measured at fair value through OCI (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income [Line Items] | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income Explanatory | Note 14 Financial assets measured at fair value through other comprehensive income USD million 31.12.18 31.12.17 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,463 7,181 of which: USA 6,101 6,739 Banks 149 307 Corporates and other 54 842 Total debt instruments 6,667 8,330 Equity instruments 2 560 Total financial assets measured at fair value through other comprehensive income 6,667 8,889 Unrealized gains – before tax 4 221 Unrealized (losses) – before tax (146) (108) Net unrealized gains / (losses) – before tax (143) 114 Net unrealized gains / (losses) – after tax (104) 6 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement. 2 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income [Line Items] | |
Financial Assets Measured At Fair Value Through Other Comprehensive Income Explanatory | Note 14 Financial assets measured at fair value through other comprehensive income USD million 31.12.18 31.12.17 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,463 7,181 of which: USA 6,101 6,739 Banks 149 307 Corporates and other 54 842 Total debt instruments 6,667 8,330 Equity instruments 2 560 Total financial assets measured at fair value through other comprehensive income 6,667 8,889 Unrealized gains – before tax 4 221 Unrealized (losses) – before tax (146) (108) Net unrealized gains / (losses) – before tax (143) 114 Net unrealized gains / (losses) – after tax (104) 6 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement. 2 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Property, equipment and softw_2
Property, equipment and software (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 15 Property, equipment and software At historical cost less accumulated depreciation USD million Own-used properties Leasehold improvements IT hardware and communications equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2018 2017 Historical cost Balance at the beginning of the year 7,923 3,375 1,615 4,266 432 861 1,050 19,522 17,842 Additions 1 21 20 182 1 50 21 1,406 1,702 1,638 Disposals / write-offs 2 (17) (386) (213) (108) (15) (111) 0 (849) (634) Reclassifications (174) 152 8 1,054 12 36 (1,283) (195) 7 (47) Foreign currency translation (74) (40) (25) (41) (9) (8) (16) (213) 724 Balance at the end of the year 7,679 3,122 1,568 5,173 469 799 1,157 19,966 19,522 Accumulated depreciation Balance at the beginning of the year 4,528 2,069 1,131 1,854 272 610 0 10,465 9,656 Depreciation 159 198 172 498 61 65 0 1,153 1,035 Impairment 3 0 2 3 66 4 0 0 75 18 Disposals / write-offs 2 (16) (380) (213) (108) (15) (108) 0 (840) (626) Reclassifications (129) 4 0 0 0 0 0 (124) 7 (5) Foreign currency translation (42) (21) (18) (18) (7) (6) 0 (111) 387 Balance at the end of the year 4,500 1,873 1,077 2,291 316 561 0 10,619 10,465 Net book value Net book value at the beginning of the year 3,394 1,306 483 2,412 159 251 1,050 9,057 8,186 Net book value at the end of the year 4,5 3,179 1,249 491 2,882 153 238 1,157 6 9,348 9,057 1 Includes USD 7 million additional assets related to acquisition of businesses in 2018. 2 Includes write-offs of fully depreciated assets. 3 Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. 4 As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). 5 Includes USD 26 million related to leased assets, mainly Own-used properties. 6 Consists of USD 803 million related to Internally generated software, USD 295 million related to Own-used properties and USD 59 million related to Leasehold improvements. 7 Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. |
UBS AG | |
Notes Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 15 Property, equipment and software At historical cost less accumulated depreciation USD million Own-used properties Leasehold improvements IT hardware and communications equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2018 2017 Historical cost Balance at the beginning of the year 7,268 3,309 1,044 3,967 279 836 1,001 17,705 17,789 Additions 1 16 18 81 30 27 19 1,294 1,484 1,540 Disposals / write-offs 2 (14) (385) (111) (94) (11) (111) 0 (726) (2,293) Reclassifications (177) 135 0 1,009 11 32 (1,205) (195) 7 (47) Foreign currency translation (61) (36) (12) (33) (3) (7) (15) (166) 716 Balance at the end of the year 7,031 3,042 1,002 4,879 303 769 1,076 18,102 17,705 Accumulated depreciation Balance at the beginning of the year 4,171 2,045 747 1,763 188 599 0 9,514 9,638 Depreciation 139 189 105 456 35 61 0 984 930 Impairment 3 0 2 1 63 0 0 0 67 15 Disposals / write-offs 2 (14) (380) (111) (107) (11) (108) 0 (730) (1,445) Reclassifications (129) 4 1 0 0 0 0 (124) 7 (7) Foreign currency translation (36) (19) (10) (14) (3) (6) 0 (88) 383 Balance at the end of the year 4,132 1,842 733 2,161 209 546 0 9,623 9,514 Net book value Net book value at the beginning of the year 3,097 1,264 297 2,203 91 238 1,001 8,191 8,152 Net book value at the end of the year 4,5 2,900 1,200 269 2,718 93 223 1,076 6 8,479 8,191 1 Includes USD 7 million additional assets related to acquisition of businesses in 2018. 2 Includes write-offs of fully depreciated assets. 3 Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. 4 As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). 5 Includes USD 22 million related to leased assets, mainly Own-used properties. 6 Consists of USD 739 million related to Internally generated software, USD 279 million related to Own-used properties and USD 58 million related to Leasehold improvements. 7 Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Goodwill And Intangible Assets [Line Items] | |
Disclosure of information for cashgenerating unit with significant amount of goodwill explanatory | Discount and growth rates Discount rates Growth rates In % 31.12.18 31.12.17 31.12.18 31.12.17 Global Wealth Management Americas 9.5 9.0 3.2 2.4 Global Wealth Management ex Americas 8.5 9.0 3.0 1.7 Asset Management 9.0 9.0 2.7 2.4 Investment Bank 11.0 11.0 3.5 2.4 |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill Explanatory | Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2018 2017 Historical cost Balance at the beginning of the year 6,342 760 786 1,546 7,888 7,687 Additions 161 109 109 270 105 Disposals (40) (5) (5) (45) (63) Write-offs (7) (7) (7) 0 Foreign currency translation (71) (17) (17) (88) 160 Balance at the end of the year 6,392 760 865 1,625 8,018 7,888 Accumulated amortization and impairment Balance at the beginning of the year 653 672 1,325 1,325 1,245 Amortization 38 24 62 62 71 Impairment 2 4 4 4 0 Disposals (1) (1) (1) (16) Write-offs (7) (7) (7) 0 Foreign currency translation (12) (12) (12) 26 Balance at the end of the year 691 679 1,371 1,371 1,325 Net book value at the end of the year 6,392 68 186 254 6,647 6,563 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2018 and 2017 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: USD 18 million for 2018 and USD 0 million for 2017). |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives Explanatory | USD million Global Wealth Management Americas Global Wealth Management ex Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 3,742 1,148 35 1,418 6,342 Additions 79 82 0 161 Disposals (13) 0 (27) (40) Foreign currency translation (8) (21) (5) (37) (71) Balance at the end of the year 3,721 1,206 112 1,354 6,392 Intangible assets Balance at the beginning of the year 164 25 29 1 2 221 Additions / transfers 22 86 1 109 Disposals 0 (4) 0 (4) Amortization (44) (6) (10) (1) (2) (62) Impairment 0 0 (3) 0 (4) Foreign currency translation (4) 0 (1) 0 0 (5) Balance at the end of the year 138 104 11 0 1 254 |
Disclosure of future amortization expenses for intangible assets [text block] | USD million Intangible assets Estimated, aggregated amortization expenses for: 2019 65 2020 52 2021 21 2022 21 2023 18 Thereafter 76 Not amortized due to indefinite useful life 2 Total 254 |
UBS AG | |
Notes Goodwill And Intangible Assets [Line Items] | |
Disclosure of information for cashgenerating unit with significant amount of goodwill explanatory | Discount and growth rates Discount rates Growth rates In % 31.12.18 31.12.17 31.12.18 31.12.17 Global Wealth Management Americas 9.5 9.0 3.2 2.4 Global Wealth Management ex Americas 8.5 9.0 3.0 1.7 Asset Management 9.0 9.0 2.7 2.4 Investment Bank 11.0 11.0 3.5 2.4 |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill Explanatory | Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2018 2017 Historical cost Balance at the beginning of the year 6,342 760 786 1,546 7,888 7,687 Additions 161 109 109 270 105 Disposals (40) (5) (5) (45) (63) Write-offs (7) (7) (7) 0 Foreign currency translation (71) (17) (17) (88) 160 Balance at the end of the year 6,392 760 865 1,625 8,018 7,888 Accumulated amortization and impairment Balance at the beginning of the year 653 672 1,325 1,325 1,245 Amortization 38 24 62 62 71 Impairment 2 4 4 4 0 Disposals (1) (1) (1) (16) Write-offs (7) (7) (7) 0 Foreign currency translation (12) (12) (12) 26 Balance at the end of the year 691 679 1,371 1,371 1,325 Net book value at the end of the year 6,392 68 186 254 6,647 6,563 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2018 and 2017 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: USD 18 million for 2018 and USD 0 million for 2017). |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives Explanatory | USD million Global Wealth Management Americas Global Wealth Management ex Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 3,742 1,148 35 1,418 6,342 Additions 79 82 0 161 Disposals (13) 0 (27) (40) Foreign currency translation (8) (21) (5) (37) (71) Balance at the end of the year 3,721 1,206 112 1,354 6,392 Intangible assets Balance at the beginning of the year 164 25 29 1 2 221 Additions / transfers 22 86 1 109 Disposals 0 (4) 0 (4) Amortization (44) (6) (10) (1) (2) (62) Impairment 0 0 (3) 0 (4) Foreign currency translation (4) 0 (1) 0 0 (5) Balance at the end of the year 138 104 11 0 1 254 |
Disclosure of future amortization expenses for intangible assets [text block] | USD million Intangible assets Estimated, aggregated amortization expenses for: 2019 65 2020 52 2021 21 2022 21 2023 18 Thereafter 76 Not amortized due to indefinite useful life 2 Total 254 |
Other financial and non-finan_3
Other financial and non-financial assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other financial assets measured at amortized cost | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.18 31.12.17 Prime brokerage receivables 1 19,573 Debt securities 13,562 9,403 of which: government bills / bonds 8,778 6,632 Loans to financial advisors 2 3,291 3,199 Fee- and commission-related receivables 1,643 1,826 Finance lease receivables 1,091 1,086 Settlement and clearing accounts 1,050 735 Accrued interest income 694 592 Other 1,233 1,401 Total other financial assets measured at amortized cost 22,563 37,815 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. 2 Related to financial advisors in the US and Canada. |
Other non-financial assets | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.18 31.12.17 Precious metals and other physical commodities 4,298 4,681 Bail deposit 1 1,312 1,371 Prepaid expenses 990 1,039 VAT and other tax receivables 334 368 Properties and other non-current assets held for sale 82 98 Other 395 273 Total other non-financial assets 7,410 7,830 1 Refer to item 1 in Note 21b for more information. |
UBS AG | Other financial assets measured at amortized cost | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.18 31.12.17 Prime brokerage receivables 1 19,573 Debt securities 13,562 9,403 of which: government bills / bonds 8,778 6,632 Loans to financial advisors 2 3,291 3,199 Fee- and commission-related receivables 1,644 1,794 Finance lease receivables 1,091 1,086 Settlement and clearing accounts 1,039 734 Accrued interest income 700 593 Other 1,310 1,508 Total other financial assets measured at amortized cost 22,637 37,890 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. 2 Related to financial advisors in the US and Canada. |
UBS AG | Other non-financial assets | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.18 31.12.17 Precious metals and other physical commodities 4,298 4,681 Bail deposit 1 1,312 1,371 Prepaid expenses 731 840 VAT and other tax receivables 282 299 Properties and other non-current assets held for sale 82 98 Other 358 258 Total other non-financial assets 7,062 7,548 1 Refer to item 1 in Note 21b for more information. |
Amounts due to banks and cust_2
Amounts due to banks and customer deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 18 Amounts due to banks and customer deposits USD million 31.12.18 31.12.17 Amounts due to banks 10,962 7,728 Customer deposits 419,838 419,577 of which: demand deposits 181,869 193,457 of which: retail savings / deposits 165,790 166,013 of which: time deposits 53,624 48,617 of which: fiduciary deposits 18,556 11,490 Total amounts due to banks and customer deposits 430,801 427,305 |
UBS AG | |
Notes Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | Note 18 Amounts due to banks, customer deposits, and funding from UBS Group AG and its subsidiaries a) Amounts due to banks and customer deposits USD million 31.12.18 31.12.17 Amounts due to banks 10,962 7,728 Customer deposits 421,986 423,058 of which: demand deposits 182,642 195,264 of which: retail savings / deposits 165,790 166,013 of which: time deposits 54,998 50,291 of which: fiduciary deposits 18,556 11,490 Total amounts due to banks and customer deposits 432,948 430,786 |
Funding From Group And Other Subsidiaries Explanatory | b) Funding from UBS Group AG and its subsidiaries USD million 31.12.18 31.12.17 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 29,988 27,937 Senior unsecured debt other than TLAC 1,031 2,736 High-trigger loss-absorbing additional tier 1 capital instruments 7,805 3,761 Low-trigger loss-absorbing additional tier 1 capital instruments 2,378 1,213 Total 1 41,202 35,648 1 All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
Debt issued designated at fai_2
Debt issued designated at fair value (Table) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | USD million 31.12.18 31.12.17 Issued debt instruments Equity-linked 1 34,392 35,046 Rates-linked 12,073 5,961 Credit-linked 3,282 3,013 Fixed-rate 5,099 4,022 Other 2,185 2,740 Total debt issued designated at fair value 57,031 50,782 of which: issued by UBS AG with original maturity greater than one year 2 40,289 38,230 of which: life-to-date own credit (gain) / loss (270) 163 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. More than 99% of the balance as of 31 December 2018 was unsecured (31 December 2017: more than 99% of the balance was unsecured). |
Debt issued designated at fair value | |
Disclosure Of Financial Liabilities [Line Items] | |
Maturity analysis for nonderivative financial liabilities | Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 3,904 1,509 1,178 447 274 802 3,694 11,807 9,664 Floating-rate 19,921 4,669 3,947 1,610 2,758 5,544 5,113 43,562 39,063 Subtotal 23,825 6,178 5,126 2,057 3,031 6,346 8,807 55,370 48,728 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 25 66 7 0 321 6 1,230 1,437 Floating-rate 13 119 83 6 26 0 183 431 617 Subtotal 818 145 149 13 26 321 189 1,662 2,054 Total 24,643 6,322 5,275 2,070 3,058 6,668 8,996 57,031 50,782 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | USD million 31.12.18 31.12.17 Issued debt instruments Equity-linked 1 34,392 35,046 Rates-linked 12,073 5,961 Credit-linked 3,282 3,013 Fixed-rate 5,099 4,022 Other 2,185 2,740 Total debt issued designated at fair value 57,031 50,782 of which: issued by UBS AG with original maturity greater than one year 2 40,289 38,230 of which: life-to-date own credit (gain) / loss (270) 163 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. More than 99% of the balance as of 31 December 2018 was unsecured (31 December 2017: more than 99% of the balance was unsecured). |
UBS AG | Debt issued designated at fair value | |
Disclosure Of Financial Liabilities [Line Items] | |
Maturity analysis for nonderivative financial liabilities | Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 3,904 1,509 1,178 447 274 802 3,694 11,807 9,664 Floating-rate 19,921 4,669 3,947 1,610 2,758 5,544 5,113 43,562 39,063 Subtotal 23,825 6,178 5,126 2,057 3,031 6,346 8,807 55,370 48,728 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 25 66 7 0 321 6 1,230 1,437 Floating-rate 13 119 83 6 26 0 183 431 617 Subtotal 818 145 149 13 26 321 189 1,662 2,054 Total 24,643 6,322 5,275 2,070 3,058 6,668 8,996 57,031 50,782 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued measured at amort_2
Debt issued measured at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | USD million 31.12.18 31.12.17 Certificates of deposit 7,980 24,447 Commercial paper 27,514 24,140 Other short-term debt 3,531 3,683 Short-term debt 1 39,025 52,270 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 29,988 27,937 Senior unsecured debt other than TLAC 33,018 33,102 of which: issued by UBS AG with original maturity greater than one year 2 32,133 33,090 Covered bonds 3,947 4,218 Subordinated debt 17,665 16,983 of which: high-trigger loss-absorbing additional tier 1 capital instruments 7,785 5,321 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,369 2,445 of which: low-trigger loss-absorbing tier 2 capital instruments 6,808 8,500 of which: non-Basel III-compliant tier 2 capital instruments 703 718 Debt issued through the Swiss central mortgage institutions 8,569 8,561 Other long-term debt 58 89 of which: issued by UBS AG with original maturity greater than one year 2 52 68 Long-term debt 3 93,246 90,890 Total debt issued measured at amortized cost 4 132,271 143,160 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Notes And Debentures Issued [Member] | |
Disclosure Of Financial Liabilities [Line Items] | |
Maturity Analysis For Nonderivative Financial Liabilities | Contractual maturity of carrying value USD million 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS Group AG 1 Subordinated debt Fixed-rate 7,766 4 Subtotal 0 0 0 0 0 0 0 0 7,766 UBS AG 2 Non-subordinated debt Fixed-rate 21,287 9,397 4,078 2,726 1,635 0 985 40,108 57,566 Floating-rate 25,450 6,482 1,964 0 369 0 770 35,035 31,930 Subordinated debt Fixed-rate 0 0 0 1,945 0 5,566 0 7,511 9,217 Subtotal 46,737 15,879 6,042 4,671 2,005 5,566 1,755 82,654 98,714 Other subsidiaries 3 Non-subordinated debt Fixed-rate 765 2,200 2,955 4,512 4,882 17,569 646 33,529 30,561 Floating-rate 0 300 998 2,506 2,128 0 0 5,933 6,120 Subordinated debt Fixed-rate 0 0 0 0 0 0 10,154 10,154 4 0 Subtotal 765 2,500 3,953 7,017 7,011 17,569 10,801 49,616 36,681 Total 47,502 18,379 9,994 11,688 9,015 23,135 12,556 132,271 143,160 1 Comprises debt issued by the legal entity UBS Group AG. 2 Comprises debt issued by the legal entity UBS AG. 3 Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. 4 Originally issued by UBS Group AG, which was replaced by UBS Group Funding (Switzerland) AG as issuer on 25 May 2018. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | USD million 31.12.18 31.12.17 Certificates of deposit 7,980 24,447 Commercial paper 27,514 24,140 Other short-term debt 3,531 3,683 Short-term debt 1 39,025 52,270 Senior unsecured debt 32,135 33,102 of which: issued by UBS AG with original maturity greater than one year 2 32,133 33,090 Covered bonds 3,947 4,218 Subordinated debt 7,511 9,217 of which: low-trigger loss-absorbing tier 2 capital instruments 6,808 8,500 of which: non-Basel III-compliant tier 2 capital instruments 703 718 Debt issued through the Swiss central mortgage institutions 8,569 8,561 Other long-term debt 58 89 of which: issued by UBS AG with original maturity greater than one year 2 52 68 Long-term debt 3 52,220 55,187 Total debt issued measured at amortized cost 4 91,245 107,458 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). 3 Debt with an original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
UBS AG | Notes And Debentures Issued [Member] | |
Disclosure Of Financial Liabilities [Line Items] | |
Maturity Analysis For Nonderivative Financial Liabilities | Contractual maturity of carrying value USD million, except where indicated 2019 2020 2021 2022 2023 2024–2028 Thereafter Total 31.12.18 Total 31.12.17 UBS AG 1 Non-subordinated debt Fixed-rate 21,287 9,397 4,078 2,726 1,635 0 985 40,108 57,694 Floating-rate 25,450 6,482 1,964 0 369 0 770 35,035 31,930 Subordinated debt Fixed-rate 0 0 0 1,945 0 5,566 0 7,511 9,217 Subtotal 46,737 15,879 6,042 4,671 2,005 5,566 1,755 82,654 98,841 Other subsidiaries 2 Non-subordinated debt Fixed-rate 765 734 1,016 845 937 3,647 646 8,590 8,616 Floating-rate 0 0 0 0 0 0 0 0 1 Subtotal 765 734 1,016 845 937 3,647 646 8,591 8,617 Total 47,502 16,613 7,057 5,517 2,942 9,213 2,402 91,245 107,458 1 Comprises debt issued by the legal entity UBS AG. 2 Comprises debt issued by subsidiaries of UBS AG. |
Provisions and contingent liabi
Provisions and contingent liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Provisions [Line Items] | |
Total provisions recognized under both IAS 37 and IFRS 9 [textblock] | USD million 31.12.18 31.12.17 Provisions recognized under IAS 37 3,377 3,180 Provisions for off-balance sheet financial instruments 1 79 34 Provisions for other credit lines 1 37 0 Total provisions 3,494 3,214 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. |
Total provisions with additional information [textblock] | USD million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Real estate Employee benefits 5 Other Total 2018 Total 2017 Balance at the beginning of the year 44 2,508 331 137 70 91 3,180 4,048 Additions from acquired companies 0 0 0 2 0 0 2 7 Increase in provisions recognized in the income statement 27 905 174 4 10 35 1,155 1,004 Release of provisions recognized in the income statement (5) (220) (65) (1) (7) (14) (311) (347) Provisions used in conformity with designated purpose (20) (350) (214) (10) 0 (33) (628) (1,632) Capitalized reinstatement costs 0 0 0 1 0 0 1 8 Foreign currency translation / unwind of discount 0 (16) (1) (1) (2) (1) (21) 94 Balance at the end of the year 46 2,827 224 3 131 4 70 78 3,377 3,180 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of USD 50 million as of 31 December 2018 (31 December 2017: USD 85 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). 4 Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2018 (31 December 2017: USD 95 million) and provisions for onerous lease contracts of USD 42 million as of 31 December 2018 (31 December 2017: USD 42 million). 5 Includes provisions for sabbatical and anniversary awards. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Total provisions recognized under both IAS 37 and IFRS 9 [textblock] | USD million 31.12.18 31.12.17 Provisions recognized under IAS 37 3,341 3,130 Provisions for off-balance sheet financial instruments 1 79 34 Provisions for other credit lines 1 37 0 Total provisions 3,457 3,164 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. |
Total provisions with additional information [textblock] | USD million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Real estate Employee benefits 5 Other Total 2018 Total 2017 Balance at the beginning of the year 44 2,508 302 128 57 91 3,130 4,043 Additions from acquired companies 0 0 0 2 0 0 2 7 Increase in provisions recognized in the income statement 25 905 142 4 8 34 1,117 956 Release of provisions recognized in the income statement (5) (220) (54) (1) (7) (14) (301) (338) Provisions used in conformity with designated purpose (20) (350) (173) (11) 0 (33) (587) (1,598) Capitalized reinstatement costs 0 0 0 0 0 0 0 4 Reclassifications 0 0 0 0 0 0 0 (35) Foreign currency translation / unwind of discount 0 (16) (1) 0 (2) (1) (20) 91 Balance at the end of the year 45 2,827 215 3 122 4 55 77 3,341 3,130 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2018 (31 December 2017: USD 56 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). 4 Consists of reinstatement costs for leasehold improvements of USD 83 million as of 31 December 2018 (31 December 2017: USD 89 million) and provisions for onerous lease contracts of USD 40 million as of 31 December 2018 (31 December 2017: USD 40 million). 5 Includes provisions for sabbatical and anniversary awards. |
Litigation, regulatory and si_2
Litigation, regulatory and similar matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure of provisions for litigation, regulatory and similar matters [text block] | Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 2018 Total 2017 Balance at the beginning of the year 569 81 1 354 246 0 1,256 2,508 3,204 Increase in provisions recognized in the income statement 659 41 0 83 32 0 90 905 703 Release of provisions recognized in the income statement (33) (1) (1) (146) (38) 0 0 (220) (214) Provisions used in conformity with designated purpose (184) (3) 0 (18) (1) 0 (143) (350) (1,251) Foreign currency translation / unwind of discount (9) (1) 0 (3) (2) 0 (1) (16) 66 Balance at the end of the year 1,003 117 0 269 236 0 1,202 2,827 2,508 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. |
UBS AG | |
Notes Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure of provisions for litigation, regulatory and similar matters [text block] | Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 2018 Total 2017 Balance at the beginning of the year 569 81 1 354 246 0 1,256 2,508 3,204 Increase in provisions recognized in the income statement 659 41 0 83 32 0 90 905 703 Release of provisions recognized in the income statement (33) (1) (1) (146) (38) 0 0 (220) (214) Provisions used in conformity with designated purpose (184) (3) 0 (18) (1) 0 (143) (350) (1,251) Foreign currency translation / unwind of discount (9) (1) 0 (3) (2) 0 (1) (16) 66 Balance at the end of the year 1,003 117 0 269 236 0 1,202 2,827 2,508 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. |
Other financial and non-finan_4
Other financial and non-financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other financial liabilities measured at amortized cost | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Prime brokerage payables 1 30,413 Other accrued expenses 2,192 2,507 Accrued interest expenses 1,544 1,552 Settlement and clearing accounts 1,486 1,432 Other 1,663 1,373 Total other financial liabilities measured at amortized cost 6,885 37,276 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. |
Other financial liabilities designated at fair value | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Amounts due under unit-linked investment contracts 21,679 11,821 Securities financing transactions 1 9,461 384 Over-the-counter debt instruments 2,450 4,428 of which: life-to-date own credit (gain) / loss (51) 37 Other 5 9 Total other financial liabilities designated at fair value 2 33,594 16,643 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. 2 As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. |
Other non-financial liabilities | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Compensation-related liabilities 7,278 7,873 of which: accrued expenses 2,696 2,740 of which: Deferred Contingent Capital Plan 1,983 2,044 of which: other deferred compensation plans 1,823 2,140 of which: net defined benefit pension and post-employment liabilities 1 775 949 Current and deferred tax liabilities 2 1,002 935 VAT and other tax payables 431 426 Deferred income 215 153 Other 98 55 Total other non-financial liabilities 9,022 9,443 1 Refer to Note 29 for more information. 2 Refer to Note 8 for more information. |
UBS AG | Other financial liabilities measured at amortized cost | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Prime brokerage payables 1 30,413 Other accrued expenses 1,911 2,160 Accrued interest expenses 1,501 1,572 Settlement and clearing accounts 1,477 1,416 Other 2,688 2,532 Total other financial liabilities measured at amortized cost 7,576 38,092 1 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. |
UBS AG | Other financial liabilities designated at fair value | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Amounts due under unit-linked investment contracts 21,679 11,821 Securities financing transactions 1 9,461 384 Over-the-counter debt instruments 2,450 4,428 of which: life-to-date own credit (gain) / loss (51) 37 Other 5 9 Total other financial liabilities designated at fair value 2 33,594 16,643 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. 2 As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. |
UBS AG | Other non-financial liabilities | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.18 31.12.17 Compensation-related liabilities 4,645 5,036 of which: accrued expenses 2,400 2,433 of which: other deferred compensation plans 1,473 1,655 of which: net defined benefit pension and post-employment liabilities 1 773 948 Current and deferred tax liabilities 2 915 866 VAT and other tax payables 403 388 Deferred income 215 153 Other 98 55 Total other non-financial liabilities 6,275 6,499 1 Refer to Note 29 for more information. 2 Refer to Note 8 for more information. |
Expected credit loss measurem_2
Expected credit loss measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios b ased on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for bal ances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the market (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate B anking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated credit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Key Macro Economic Variables Explanatory | 1-year shock 3-year cumulative shock Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 5.5 2.8 (0.5) (5.2) 9.9 7.0 0.0 (3.6) Eurozone 4.3 1.8 (0.3) (10.4) 8.5 4.7 0.7 (13.4) Switzerland 5.0 2.0 (0.8) (7.0) 9.4 5.5 (0.1) (6.9) Consumer price inflation (% change) United States 3.5 2.1 4.9 (1.0) 10.4 5.5 11.1 0.6 Eurozone 2.4 1.6 2.8 (1.1) 8.1 5.3 6.2 (1.4) Switzerland 1.4 0.9 1.8 (1.8) 7.1 2.8 4.2 (1.2) Unemployment rate (%, average) United States (1.7) (0.6) 0.6 3.4 (1.5) (0.5) 1.8 2.9 Eurozone (1.0) (0.5) 0.0 3.2 (1.9) (0.9) 0.1 3.7 Switzerland (1.5) (0.3) 0.6 4.3 (1.4) 0.1 1.6 5.3 Fixed income: 10-year government bonds (bps) USD 61.0 3.9 187.5 (160.0) 249.1 5.7 262.5 (135.0) EUR 40.0 22.0 75.0 (20.0) 146.7 60.7 225.0 (10.0) CHF 48.0 19.7 187.5 (75.0) 208.0 53.2 262.5 (40.0) Equity indices (% change) S&P 500 14.8 5.8 (20.3) (50.1) 38.7 15.1 (23.5) (48.2) EuroStoxx 50 17.0 6.0 (15.5) (63.7) 38.4 15.6 (14.7) (65.9) SPI 13.9 4.2 (19.0) (56.2) 37.1 10.4 (24.0) (56.7) Swiss real estate (% change) Single-Family Homes 4.5 (0.3) (7.3) (15.2) 14.1 1.4 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 10.3 6.9 (2.7) (16.0) 30.9 17.7 (17.0) (22.1) Eurozone (Housing Price Index) 4.9 1.9 (0.2) (9.5) 15.4 8.2 3.0 (18.3) |
Disclosure Of Credit Risk Exposure Movement Explanatory | Development of ECL allowances and provisions USD million Total Stage 1 Stage 2 Stage 3 Balance as of 1 January 2018 (1,117) (141) (193) (783) ECL movements due to stage transfer (profit or loss neutral) 1 0 (97) 95 2 ECL movements with profit or loss impact 2 (104) 66 (83) (88) Net movement from new and derecognized transactions 3 (10) (44) 15 19 of which: Private clients with mortgages (3) (6) 4 0 of which: Real estate financing (3) (8) 5 0 of which: Large corporate clients 2 (6) 1 8 of which: SME clients (10) (14) 4 0 Book quality movements (89) 112 (87) (114) Remeasurements due to stage transfers 4 (16) 95 (103) (7) of which: Private clients with mortgages (11) 54 (63) (1) of which: Real estate financing 5 24 (19) 0 of which: Large corporate clients (1) 0 (3) 1 of which: SME clients 1 7 (7) 0 Remeasurements without stage transfers 5 (73) 17 16 (106) of which: Private clients with mortgages (9) 2 (3) (7) of which: Real estate financing 8 4 12 (8) of which: Large corporate clients (56) (2) (6) (48) of which: SME clients (55) 9 6 (70) Model and methodology changes 6 (13) (2) (11) 0 Other allowance and provision movements 227 10 1 216 Write-offs / recoveries 7 200 1 0 199 Reclassifications 8 25 7 3 15 Foreign exchange movements 9 8 0 0 8 Other (6) 2 (1) (6) Balance as of 31 December 2018 (1,002) (162) (180) (661) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 Includes ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 3 Represents the increase and decrease in allowances and provisions resulting from financial instruments (including guarantees and facilities) that were newly originated, purchased or renewed and from the final derecognition of loans or facilities on their maturity date or earlier. 4 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 5 Represents the change in allowances and provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure profile, PD and LGD changes, and unwinding of the time value. 6 Represents the change in the allowances and provisions related to changes in models and methodologies. 7 Represents the decrease in allowances and provisions resulting from write-offs of the ECL allowance against the gross carrying amount when all or part of a financial asset is deemed uncollectible or forgiven. 8 Represents reclassifications to Other assets measured at amortized cost. 9 Represents the change in allowances and provisions related to movements in foreign exchange rates. |
Disclosure Of Maximum Exposure To Credit Risk Explanatory | Maximum exposure to credit risk 31.12.18 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 108.4 108.4 Loans and advances to banks 2 16.9 0.1 16.8 Receivables from securities financing transactions 95.3 92.5 2.5 0.3 Cash collateral receivables on derivative instruments 3,4 23.6 14.5 9.1 Loans and advances to customers 5 320.4 17.0 104.4 167.1 16.2 0.0 1.2 14.3 Other financial assets measured at amortized cost 22.6 0.1 0.4 0.0 1.1 20.9 Total financial assets measured at amortized cost 587.1 17.2 197.4 167.2 19.9 14.5 0.0 1.2 169.8 Financial assets measured at fair value through other comprehensive income – debt 6.7 6.7 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 593.8 17.2 197.4 167.2 19.9 14.5 0.0 1.2 176.5 Guarantees 6 18.1 1.3 2.5 0.1 1.2 2.7 10.2 Loan commitments 6 31.2 0.4 2.8 1.5 5.7 0.2 0.7 19.8 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.9 0.9 0.0 Committed unconditionally revocable credit lines 36.6 1.1 6.5 4.2 3.9 21.0 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 86.8 2.8 12.7 5.8 10.8 0.0 0.2 3.4 51.0 Maximum exposure to credit risk (continued) 31.12.17 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 90.0 90.0 Loans and advances to banks 2 14.1 0.1 0.0 14.0 Receivables from securities financing transactions 92.0 87.2 4.3 0.4 Cash collateral receivables on derivative instruments 3,4 24.0 12.8 11.3 Loans and advances to customers 5 326.7 16.5 114.3 164.3 15.2 0.0 1.4 15.1 Other financial assets measured at amortized cost 37.8 0.1 20.0 1.1 16.7 Total financial assets measured at amortized cost 584.7 16.6 221.6 164.3 20.7 12.8 0.0 1.4 147.4 Financial assets measured at fair value through other comprehensive income – debt 8.1 8.1 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 592.8 16.6 221.6 164.3 20.7 12.8 0.0 1.4 155.6 Guarantees 6 17.7 1.0 2.1 0.2 1.3 0.0 3.1 9.9 Loan commitments 6 32.1 0.0 2.9 1.1 5.8 0.1 1.2 21.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 13.0 12.8 0.3 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 62.8 1.1 17.8 1.2 7.1 0.0 0.1 4.3 31.2 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Loans and advances to banks include amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. 6 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
Disclosure Of Internal Credit Exposures Explanatory | Financial assets subject to credit risk by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount ECL allowances Net carrying amount (maximum exposure to credit risk) Financial assets measured at amortized cost Cash and balances at central banks 103,635 4,735 0 0 0 0 108,370 0 108,370 of which: stage 1 103,635 4,735 0 0 0 0 108,370 0 108,370 Loans and advances to banks 829 13,462 1,347 927 307 3 16,875 (7) 16,868 of which: stage 1 829 13,462 1,347 763 268 0 16,669 (4) 16,666 of which: stage 2 0 0 0 164 39 0 203 (1) 202 of which: stage 3 0 0 0 0 0 3 3 (3) Receivables from securities financing transactions 29,065 24,653 13,602 26,865 1,165 0 95,350 (2) 95,349 of which: stage 1 29,065 24,653 13,602 26,865 1,165 0 95,350 (2) 95,349 Cash collateral receivables on derivative instruments 5,136 10,042 5,282 3,040 101 0 23,601 0 23,602 of which: stage 1 5,136 10,042 5,282 3,040 101 0 23,601 0 23,602 Loans and advances to customers 3,642 172,742 52,566 73,863 16,014 2,297 321,124 (772) 320,352 of which: stage 1 3,621 172,002 49,277 62,305 11,111 0 298,316 (69) 298,248 of which: stage 2 20 740 3,289 11,558 4,903 0 20,510 (155) 20,357 of which: stage 3 0 0 0 0 0 2,297 2,297 (549) 1,748 Other financial assets measured at amortized cost 13,409 676 313 7,460 274 586 22,718 (155) 22,563 of which: stage 1 13,409 676 313 7,235 272 0 21,905 (43) 21,862 of which: stage 2 0 0 0 225 2 0 227 (4) 223 of which: stage 3 0 0 0 0 0 586 586 (109) 478 Total financial assets measured at amortized cost 155,716 226,310 73,110 112,155 17,861 2,886 588,039 (937) 587,104 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 3,889 2,702 0 76 0 0 6,667 0 6,667 Total on-balance sheet financial instruments 159,605 229,012 73,110 112,231 17,861 2,886 594,706 (937) 593,771 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Financial assets subject to credit risk by rating category USD billion 31.12.17 Gross carrying amount per rating category Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount Financial assets measured at amortized cost Cash and balances at central banks 89.6 0.5 0.0 90.0 Loans and advances to banks 0.6 10.8 1.4 0.9 0.3 14.1 Receivables from securities financing transactions 24.9 37.3 17.2 10.7 1.8 92.0 Cash collateral receivables on derivative instruments 6.6 10.0 5.7 1.6 0.1 24.0 Loans and advances to customers 3.2 165.9 66.9 71.3 17.9 1.5 326.7 Other financial assets measured at amortized cost 9.4 1.1 8.9 17.1 1.0 0.3 37.8 Total financial assets measured at amortized cost 134.4 225.6 100.1 101.5 21.1 1.9 584.7 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 7.0 1.0 0.1 8.1 Total on-balance sheet financial instruments 141.4 226.6 100.1 101.6 21.1 1.9 592.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD billion 31.12.17 Gross carrying amount per rating category Total carrying amount (maximum exposure to credit risk) Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Off-balance sheet financial instruments Guarantees 1.2 8.5 4.2 2.8 0.8 0.2 17.7 Irrevocable loan commitments 2.0 13.5 7.8 5.2 3.6 32.1 Forward starting reverse repurchase and securities borrowing agreements 13.0 13.0 Total off-balance sheet financial instruments 3.2 34.9 12.0 8.1 4.4 0.2 62.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. |
Disclosure Of Off Balance Sheet Positions By Rating Category Explanatory | Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total carrying amount (maximum exposure to credit risk) ECL provision Off-balance sheet financial instruments Guarantees 979 6,673 3,859 5,415 1,006 215 18,147 (43) of which: stage 1 978 6,670 3,849 5,012 811 17,320 (7) of which: stage 2 3 10 402 195 0 610 (2) of which: stage 3 0 0 0 0 215 215 (34) Irrevocable loan commitments 2,088 11,667 6,519 6,479 4,404 55 31,212 (37) of which: stage 1 2,088 11,667 6,519 6,296 4,019 1 30,590 (32) of which: stage 2 0 0 0 183 385 0 568 (5) of which: stage 3 0 0 0 0 53 53 0 Forward starting reverse repurchase and securities borrowing agreements 25 510 150 251 0 0 936 0 Total off-balance sheet financial instruments 3,092 18,850 10,528 12,145 5,410 270 50,295 (80) Other credit lines Committed unconditionally revocable credit lines 776 10,899 5,282 11,499 8,084 93 36,633 (35) of which: stage 1 768 10,871 5,152 10,727 7,603 35,121 (19) of which: stage 2 8 28 130 772 481 0 1,419 (16) of which: stage 3 0 0 93 93 Irrevocable committed prolongation of existing loans 27 1,346 889 902 154 21 3,339 (1) of which: stage 1 27 1,315 680 701 137 0 2,860 (1) of which: stage 2 0 31 209 200 17 0 457 0 of which: stage 3 0 0 0 21 21 0 Total other credit lines 803 12,245 6,171 12,401 8,238 114 39,972 (36) 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. |
Disclosure Of Credit Impaired Financial Instruments Explanatory | USD million 31.12.18 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 3 (3) 0 0 Loans and advances to customers 2,297 (549) 1,748 1,654 of which: Private clients with mortgages 836 (39) 796 796 of which: Real estate financing 54 (16) 38 30 of which: Large corporate clients 170 (82) 88 79 of which: SME clients 888 (256) 632 561 of which: Lombard 31 (17) 14 14 Other financial assets measured at amortized cost 586 (109) 478 12 Total credit-impaired financial assets measured at amortized cost 2,886 1 (660) 1 2,226 1,666 Guarantees 215 (34) 84 of which: Large corporate clients 127 (6) 79 of which: SME clients 77 (25) 5 Loan commitments 53 0 8 Committed unconditionally revocable credit lines 93 0 9 Irrevocable committed prolongation of existing loans 22 0 0 Total off-balance sheet financial instruments and other credit lines 383 1 (34) 1 102 31.12.17 USD million Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to customers 1,104 (672) 432 210 Guarantees and loan commitments 204 (34) 5 Total credit-impaired financial assets 1,308 2 (706) 2 432 215 1 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. 2 December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. |
Scenario Sensitivity Analysis Explanatory | Scenarios Weighted average Baseline Upside Mild downside Severe downside USD million, unless otherwise indicated ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline Segmentation Private clients with mortgages 102 275 37 100 29 78 173 468 365 988 Real estate financing 61 150 41 100 32 79 80 198 119 293 Large corporate clients 47 133 35 100 31 89 46 130 108 308 SME clients 34 118 29 100 28 97 39 135 63 216 Other segments 115 122 95 100 83 88 135 142 171 180 Total 359 152 237 100 204 86 473 200 826 349 |
UBS AG | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Provision Matrix Explanatory | Balance sheet notes Note 10 Financial assets at amortized cost and other positions in scope of expected credit loss measurement The tables on the following pages provide information on financial instruments and certain non-financial instruments (e.g., committed unconditionally revocable credit lines) that are subject to ECL. UBS AG has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based o n shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below. Tables provided for 31 December 2018 include additional detail on certain segments that have not been provided for balances as of 1 January 2018. Refer to Note 1 c for the c omparative information as of 31 December 2017 under IAS 39 Refer to Note 23 for more information on expected credit loss measurement Segment Segment description Description of credit risk sensitivity Business division / Corporate Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to private and corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and, to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the mark et (e.g., changes in collateral as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate Ba nking Refer to Note 23g for more details on sensitivity For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying value of these financial assets. The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets are recognized in the period. Originated c redit-impaired financial assets were not material and are not presented in the table below and on the following page. In addition to on-balance sheet financial assets, certain off-balance sheet financial instruments and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Disclosure Of Key Macro Economic Variables Explanatory | 1-year shock 3-year cumulative shock Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 5.5 2.8 (0.5) (5.2) 9.9 7.0 0.0 (3.6) Eurozone 4.3 1.8 (0.3) (10.4) 8.5 4.7 0.7 (13.4) Switzerland 5.0 2.0 (0.8) (7.0) 9.4 5.5 (0.1) (6.9) Consumer price inflation (% change) United States 3.5 2.1 4.9 (1.0) 10.4 5.5 11.1 0.6 Eurozone 2.4 1.6 2.8 (1.1) 8.1 5.3 6.2 (1.4) Switzerland 1.4 0.9 1.8 (1.8) 7.1 2.8 4.2 (1.2) Unemployment rate (%, average) United States (1.7) (0.6) 0.6 3.4 (1.5) (0.5) 1.8 2.9 Eurozone (1.0) (0.5) 0.0 3.2 (1.9) (0.9) 0.1 3.7 Switzerland (1.5) (0.3) 0.6 4.3 (1.4) 0.1 1.6 5.3 Fixed income: 10-year government bonds (bps) USD 61.0 3.9 187.5 (160.0) 249.1 5.7 262.5 (135.0) EUR 40.0 22.0 75.0 (20.0) 146.7 60.7 225.0 (10.0) CHF 48.0 19.7 187.5 (75.0) 208.0 53.2 262.5 (40.0) Equity indices (% change) S&P 500 14.8 5.8 (20.3) (50.1) 38.7 15.1 (23.5) (48.2) EuroStoxx 50 17.0 6.0 (15.5) (63.7) 38.4 15.6 (14.7) (65.9) SPI 13.9 4.2 (19.0) (56.2) 37.1 10.4 (24.0) (56.7) Swiss real estate (% change) Single-Family Homes 4.5 (0.3) (7.3) (15.2) 14.1 1.4 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 10.3 6.9 (2.7) (16.0) 30.9 17.7 (17.0) (22.1) Eurozone (Housing Price Index) 4.9 1.9 (0.2) (9.5) 15.4 8.2 3.0 (18.3) |
Disclosure Of Credit Risk Exposure Movement Explanatory | Development of ECL allowances and provisions USD million Total Stage 1 Stage 2 Stage 3 Balance as of 1 January 2018 (1,117) (141) (193) (783) ECL movements due to stage transfer (profit or loss neutral) 1 0 (97) 95 2 ECL movements with profit or loss impact 2 (104) 66 (83) (88) Net movement from new and derecognized transactions 3 (10) (44) 15 19 of which: Private clients with mortgages (3) (6) 4 0 of which: Real estate financing (3) (8) 5 0 of which: Large corporate clients 2 (6) 1 8 of which: SME clients (10) (14) 4 0 Book quality movements (89) 112 (87) (114) Remeasurements due to stage transfers 4 (16) 95 (103) (7) of which: Private clients with mortgages (11) 54 (63) (1) of which: Real estate financing 5 24 (19) 0 of which: Large corporate clients (1) 0 (3) 1 of which: SME clients 1 7 (7) 0 Remeasurements without stage transfers 5 (73) 17 16 (106) of which: Private clients with mortgages (9) 2 (3) (7) of which: Real estate financing 8 4 12 (8) of which: Large corporate clients (56) (2) (6) (48) of which: SME clients (55) 9 6 (70) Model and methodology changes 6 (13) (2) (11) 0 Other allowance and provision movements 227 10 1 216 Write-offs / recoveries 7 200 1 0 199 Reclassifications 8 25 7 3 15 Foreign exchange movements 9 8 0 0 8 Other (6) 2 (1) (6) Balance as of 31 December 2018 (1,002) (162) (180) (661) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 Includes ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 3 Represents the increase and decrease in allowances and provisions resulting from financial instruments (including guarantees and facilities) that were newly originated, purchased or renewed and from the final derecognition of loans or facilities on their maturity date or earlier. 4 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 5 Represents the change in allowances and provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure profile, PD and LGD changes, and unwinding of the time value. 6 Represents the change in the allowances and provisions related to changes in models and methodologies. 7 Represents the decrease in allowances and provisions resulting from write-offs of the ECL allowance against the gross carrying amount when all or part of a financial asset is deemed uncollectible or forgiven. 8 Represents reclassifications to Other assets measured at amortized cost. 9 Represents the change in allowances and provisions related to movements in foreign exchange rates. |
Disclosure Of Maximum Exposure To Credit Risk Explanatory | Maximum exposure to credit risk 31.12.18 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 108.4 108.4 Loans and advances to banks 2 16.6 0.1 16.6 Receivables from securities financing transactions 95.3 92.5 2.5 0.3 Cash collateral receivables on derivative instruments 3,4 23.6 14.5 9.1 Loans and advances to customers 5 321.5 17.7 104.4 167.1 16.2 0.0 1.2 14.8 Other financial assets measured at amortized cost 22.6 0.1 0.4 0.0 1.1 21.0 Total financial assets measured at amortized cost 588.1 17.8 197.4 167.2 19.9 14.5 0.0 1.2 170.2 Financial assets measured at fair value through other comprehensive income – debt 6.7 6.7 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 594.8 17.8 197.4 167.2 19.9 14.5 0.0 1.2 176.9 Guarantees 6 18.1 1.3 2.5 0.1 1.2 2.7 10.2 Loan commitments 6 31.2 0.4 2.8 1.5 5.7 0.2 0.7 19.8 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.9 0.9 0.0 Committed unconditionally revocable credit lines 38.8 1.1 6.5 4.2 3.9 23.2 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 89.0 2.8 12.7 5.8 10.8 0.0 0.2 3.4 53.2 Maximum exposure to credit risk (continued) 31.12.17 Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Maximum exposure to credit risk Cash collateral received Collateralized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at amortized cost on the balance sheet Cash and balances at central banks 90.0 90.0 Loans and advances to banks 2 14.0 0.0 0.1 0.0 13.9 Receivables from securities financing transactions 92.0 87.2 4.3 0.4 Cash collateral receivables on derivative instruments 3,4 24.0 12.8 11.3 Loans and advances to customers 5 329.0 18.3 114.3 164.3 15.2 0.0 1.4 15.5 Other financial assets measured at amortized cost 37.9 0.1 20.0 0.0 1.1 16.7 Total financial assets measured at amortized cost 586.9 18.4 221.6 164.3 20.7 12.8 0.0 1.4 147.8 Financial assets measured at fair value through other comprehensive income – debt 8.1 8.1 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 595.1 18.4 221.6 164.3 20.7 12.8 0.0 1.4 155.9 Guarantees 6 17.7 1.0 2.1 0.2 1.3 3.1 9.9 Loan commitments 6 32.1 0.0 2.9 1.1 5.8 0.1 1.2 21.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 13.0 12.8 0.3 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 62.8 1.1 17.8 1.2 7.1 0.0 0.1 4.3 31.2 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Loans and advances to banks include amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. 6 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
Disclosure Of Internal Credit Exposures Explanatory | Financial assets subject to credit risk by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount ECL allowances Net carrying amount (maximum exposure to credit risk) Financial assets measured at amortized cost Cash and balances at central banks 103,635 4,735 0 0 0 0 108,370 0 108,370 of which: stage 1 103,635 4,735 0 0 0 0 108,370 0 108,370 Loans and advances to banks 829 13,286 1,302 922 307 3 16,649 (8) 16,641 of which: stage 1 829 13,286 1,302 758 268 0 16,443 (4) 16,439 of which: stage 2 0 0 0 164 39 0 203 (1) 202 of which: stage 3 0 0 0 0 0 3 3 (3) 0 Receivables from securities financing transactions 29,065 24,653 13,602 26,866 1,165 0 95,351 (2) 95,349 of which: stage 1 29,065 24,653 13,602 26,866 1,165 0 95,351 (2) 95,349 Cash collateral receivables on derivative instruments 5,136 10,044 5,282 3,040 101 0 23,603 0 23,603 of which: stage 1 5,136 10,044 5,282 3,040 101 0 23,603 0 23,603 Loans and advances to customers 3,641 173,454 52,806 74,042 16,014 2,297 322,255 (772) 321,482 of which: stage 1 3,621 172,714 49,517 62,484 11,111 0 299,448 (69) 299,379 of which: stage 2 20 740 3,289 11,558 4,903 0 20,510 (155) 20,355 of which: stage 3 0 0 0 0 0 2,297 2,297 (549) 1,748 Other financial assets measured at amortized cost 13,409 682 316 7,525 274 586 22,792 (156) 22,636 of which: stage 1 13,409 682 316 7,300 272 0 21,979 (43) 21,936 of which: stage 2 0 0 0 225 2 0 227 (4) 223 of which: stage 3 0 0 0 0 0 586 586 (109) 477 Total financial assets measured at amortized cost 155,715 226,854 73,308 112,395 17,861 2,886 589,020 (937) 588,081 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 3,889 2,702 0 76 0 0 6,667 0 6,667 Total on balance sheet financial instruments 159,604 229,556 73,308 112,471 17,861 2,886 595,687 (937) 594,748 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Financial assets subject to credit risk by rating category USD billion 31.12.17 Gross carrying amount per rating category Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total gross carrying amount Financial assets measured at amortized cost Cash and balances at central banks 89.6 0.5 0.0 90.0 Loans and advances to banks 0.6 10.8 1.4 0.9 0.3 14.1 Receivables from securities financing transactions 24.9 37.3 17.2 10.7 1.8 92.0 Cash collateral receivables on derivative instruments 6.6 10.0 5.7 1.6 0.1 24.0 Loans and advances to customers 3.2 165.9 66.9 71.3 17.9 1.5 326.7 Other financial assets measured at amortized cost 9.4 1.1 8.9 17.1 1.0 0.3 37.8 Total financial assets measured at amortized cost 134.4 225.6 100.1 101.5 21.1 1.9 584.7 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 7.0 1.0 0.1 8.1 Total on-balance sheet financial instruments 141.4 226.6 100.1 101.6 21.1 1.9 592.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. Off-balance sheet positions subject to expected credit loss by rating category USD billion 31.12.17 Gross carrying amount per rating category Total carrying amount (maximum exposure to credit risk) Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Off-balance sheet financial instruments Guarantees 1.2 8.5 4.2 2.8 0.8 0.2 17.7 Irrevocable loan commitments 2.0 13.5 7.8 5.2 3.6 32.1 Forward starting reverse repurchase and securities borrowing agreements 13.0 13.0 Total off-balance sheet financial instruments 3.2 34.9 12.0 8.1 4.4 0.2 62.8 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. |
Disclosure Of Off Balance Sheet Positions By Rating Category Explanatory | Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.18 Rating category 1 0–1 2–3 4–5 6–8 9–13 Credit-impaired (defaulted) Total carrying amount (maximum exposure to credit risk) ECL provision Off-balance sheet financial instruments Guarantees 978 6,673 3,859 5,415 1,006 215 18,146 (43) of which: stage 1 978 6,670 3,849 5,013 811 17,321 (7) of which: stage 2 3 10 402 195 0 610 (2) of which: stage 3 0 0 0 0 215 215 (34) Irrevocable loan commitments 2,088 11,667 6,519 6,480 4,405 53 31,212 (37) of which: stage 1 2,088 11,667 6,519 6,297 4,020 0 30,591 (32) of which: stage 2 0 0 0 183 385 0 568 (5) of which: stage 3 0 0 0 0 53 53 0 Forward starting reverse repurchase and securities borrowing agreements 25 510 150 254 0 0 939 0 Total off balance sheet financial instruments 3,091 18,850 10,528 12,148 5,411 268 50,296 (80) Other credit lines Committed unconditionally revocable credit lines 776 12,426 5,332 12,140 8,084 93 38,851 (35) of which: stage 1 768 12,398 5,202 11,367 7,603 37,338 (19) of which: stage 2 8 28 130 773 481 0 1,420 (16) of which: stage 3 0 0 93 93 Irrevocable committed prolongation of existing loans 27 1,346 889 901 154 22 3,339 (1) of which: stage 1 27 1,315 680 701 137 0 2,860 (1) of which: stage 2 0 31 209 200 17 0 457 0 of which: stage 3 0 0 0 22 22 0 Total other credit lines 803 13,772 6,221 13,041 8,238 115 42,190 (36) 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. |
Disclosure Of Credit Impaired Financial Instruments Explanatory | USD million 31.12.18 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 3 (3) 0 0 Loans and advances to customers 2,297 (549) 1,748 1,654 of which: Private clients with mortgages 836 (39) 796 796 of which: Real estate financing 54 (16) 38 30 of which: Large corporate clients 170 (82) 88 79 of which: SME clients 888 (256) 632 561 of which: Lombard 31 (17) 14 14 Other financial assets measured at amortized cost 586 (109) 478 12 Total credit-impaired financial assets measured at amortized cost 2,886 1 (660) 1 2,226 1,666 Guarantees 215 (34) 84 of which: Large corporate clients 127 (6) 79 of which: SME clients 77 (25) 5 Loan commitments 53 0 8 Committed unconditionally revocable credit lines 93 0 9 Irrevocable committed prolongation of existing loans 22 0 0 Total off-balance sheet financial instruments and other credit lines 383 1 (34) 1 102 31.12.17 USD million Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to customers 1,104 (672) 432 210 Guarantees and loan commitments 204 (34) 5 Total credit-impaired financial assets 1,308 2 (706) 2 432 215 1 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. 2 December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. |
Scenario Sensitivity Analysis Explanatory | Scenarios Weighted average Baseline Upside Mild downside Severe downside USD million, unless otherwise indicated ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline ECL in % of baseline Segmentation Private clients with mortgages 102 275 37 100 29 78 173 468 365 988 Real estate financing 61 150 41 100 32 79 80 198 119 293 Large corporate clients 47 133 35 100 31 89 46 130 108 308 SME clients 34 118 29 100 28 97 39 135 63 216 Other segments 115 122 95 100 83 88 135 142 171 180 Total 359 152 237 100 204 86 473 200 826 349 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.18 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,3 21.9 21.9 Derivative financial instruments 4 126.2 4.1 110.8 11.4 Brokerage receivables 16.8 0.0 16.5 0.3 Financial assets at fair value not held for trading – debt instruments 6 59.8 16.7 0.1 43.1 Total financial assets measured at fair value 224.8 0.0 37.3 0.0 0.1 110.8 0.0 0.0 76.6 Guarantees 7 1.6 0.2 1.4 Loan commitments 7 3.5 2.4 0.2 0.1 0.7 Forward starting transactions, reverse repurchase and securities borrowing agreements 8.1 8.1 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 13.3 0.0 8.1 0.0 2.4 0.0 0.2 0.4 2.1 31.12.17 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,5 26.3 26.3 Derivative financial instruments 4 121.3 4.1 102.8 14.4 Financial assets at fair value not held for trading – debt instruments 3,6 59.9 10.1 49.8 Total financial assets measured at fair value 207.4 0.0 14.1 0.0 0.0 102.8 0.0 0.0 90.5 Guarantees 7 1.7 1.7 Loan commitments 7 8.0 3.9 1.0 0.2 2.8 Total maximum exposure to credit risk not reflected on the balance sheet 9.6 0.0 0.0 0.0 3.9 0.0 1.0 0.2 4.5 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 3 Does not include investment fund units. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 6 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 7 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
Level 3 | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,452 13,956 1,962 104,370 111,780 15,604 2,023 129,407 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,559 651 6,768 38 8,180 566 8,785 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,266 455 46 72,768 81,324 190 108 81,623 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,033 1,424 126,210 470 119,227 1,589 121,285 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,148 30 53,489 212 47,957 194 48,363 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,819 4,413 82,690 23,628 35,373 1,456 60,457 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 428 109 710 210 387 0 597 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,280 202,077 7,800 341,156 143,636 175,550 5,631 324,818 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,406 4,468 69 28,943 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,306 537 42 21,886 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,849 2,879 119,137 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,318 125 46,662 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,986 244,465 14,260 283,711 27,119 174,538 16,157 217,813 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,452 13,956 1,962 104,370 111,780 15,604 2,023 129,407 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,559 651 6,768 38 8,180 566 8,785 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,266 455 46 72,768 81,324 190 108 81,623 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,033 1,424 126,210 470 119,227 1,589 121,285 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,148 30 53,489 212 47,957 194 48,363 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,819 4,413 82,690 23,628 35,373 1,456 60,457 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 428 109 710 210 387 0 597 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,280 202,077 7,800 341,156 143,636 175,550 5,631 324,818 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,406 4,468 69 28,943 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,306 537 42 21,886 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,849 2,879 119,137 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,318 125 46,662 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,986 244,465 14,260 283,711 27,119 174,538 16,157 217,813 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss reserves USD million 2018 2017 2016 Reserve balance at the beginning of the year 338 365 420 Profit / (loss) deferred on new transactions 341 247 257 (Profit) / loss recognized in the income statement (417) (279) (293) (Profit) / loss recognized in other comprehensive income (23) Foreign currency translation (6) 6 4 Reserve balance at the end of the year 255 338 365 |
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure of sensitivity of fair value measurement to changes in unobservable inputs explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 31.12.18 31.12.17 USD million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans designated at fair value, loan commitments and guarantees 99 (44) 81 (12) Securities financing transactions 17 (11) 35 (35) Auction rate securities 1 81 (81) Asset-backed securities 27 (23) 19 (15) Equity instruments 155 (94) 81 (54) Interest rate derivative contracts, net 8 (39) 13 (27) Credit derivative contracts, net 33 (37) 66 (102) Foreign exchange derivative contracts, net 10 (5) 12 (6) Equity / index derivative contracts, net 213 (225) 195 (198) Other 19 (19) 13 (13) Total 661 (578) 515 (462) 1 Comparative-period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Disclosure Of Fair Value Of Financial Instruments Explanatory | Movements of Level 3 instruments Total gains / (losses) included in comprehensive income Total gains / (losses) included in comprehensive income USD billion Balance as of 31 December 2016 Net gains / (losses) included in income 1 of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2017 Reclassifi-cations and remeasure- ments upon adoption of IFRS 9 Balance as of 1 January 2018 Net gains / (losses) included in income 1 of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2018 2 Financial assets at fair value held for trading 1.7 (0.1) 0.0 0.7 (3.9) 2.7 0.0 1.0 (0.2) 0.1 2.0 0.4 2.4 (0.2) (0.2) 2.1 (7.1) 4.2 0.0 0.7 (0.2) 0.0 2.0 of which: Corporate and municipal bonds 0.6 0.1 0.1 0.5 (0.7) 0.0 0.0 0.1 0.0 0.0 0.6 0.6 0.0 0.0 0.6 (0.9) 0.0 0.0 0.5 0.0 0.0 0.7 Loans 0.7 (0.1) (0.1) 0.1 (2.8) 2.7 0.0 0.0 (0.1) 0.0 0.5 0.4 0.9 0.1 0.0 0.9 (5.6) 4.2 0.0 0.1 0.0 0.0 0.7 Investment fund units 0.1 (0.1) 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.6 0.6 (0.1) (0.1) 0.2 (0.3) 0.0 0.0 0.1 (0.1) 0.0 0.4 Other 0.3 0.0 0.0 0.2 (0.3) 0.0 0.0 0.2 0.0 0.0 0.4 0.4 (0.1) (0.1) 0.4 (0.4) 0.0 0.0 0.0 0.0 0.0 0.2 Financial assets at fair value not held for trading 2.0 0.2 0.2 0.0 0.0 0.4 (1.3) 0.1 (0.1) 0.1 1.5 3.0 4.4 0.0 0.0 1.7 (1.9) 0.0 0.0 0.1 (0.1) 0.1 4.4 of which: Loans 1.2 0.2 0.2 0.0 0.0 0.1 (0.7) 0.0 (0.1) 0.0 0.8 0.6 1.4 (0.2) (0.2) 1.5 (1.0) 0.0 0.0 0.1 0.0 0.0 1.8 Auction rate securities 3 1.9 1.9 0.1 0.1 0.0 (0.4) 0.0 0.0 0.0 0.0 0.1 1.7 Equity instruments 4 0.4 0.4 0.1 0.1 0.2 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 Other 0.9 (0.1) (0.1) 0.0 0.0 0.3 (0.6) 0.1 0.0 0.0 0.7 0.1 0.8 0.0 0.0 0.0 (0.4) 0.0 0.0 0.0 (0.1) 0.0 0.5 Financial assets measured at fair value through other comprehensive income 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.5 (0.5) Derivative financial instruments – assets 2.5 (0.3) (0.4) 0.0 0.0 1.0 (1.2) 0.4 (0.9) 0.1 1.6 1.6 0.0 0.0 0.0 0.0 1.0 (1.5) 0.5 (0.1) 0.0 1.4 of which: Interest rate contracts 0.3 0.0 (0.1) 0.0 0.0 0.0 (0.1) 0.1 (0.1) 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 (0.1) 0.3 0.0 0.0 0.4 Credit derivative contracts 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.3) 0.0 (0.4) 0.1 0.6 0.6 0.0 0.0 0.0 0.0 0.3 (0.4) 0.0 0.0 0.0 0.5 Equity / index contracts 0.7 (0.1) (0.1) 0.0 0.0 0.9 (0.7) 0.3 (0.4) 0.0 0.7 0.7 0.0 0.0 0.0 0.0 0.8 (1.0) 0.1 (0.1) 0.0 0.5 Other 0.2 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.2 0.2 (0.1) (0.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Derivative financial instruments – liabilities 3.9 0.3 0.1 0.0 0.0 0.7 (1.4) 0.5 (1.4) 0.2 2.9 0.0 2.9 (0.3) (0.2) 0.0 0.0 1.3 (1.5) 0.3 (0.5) 0.0 2.2 of which: Credit derivative contracts 1.5 0.0 (0.2) 0.0 0.0 0.1 (0.4) 0.2 (0.8) 0.1 0.6 0.6 0.0 0.0 0.0 0.0 0.1 (0.2) 0.1 0.0 0.0 0.5 Equity / index contracts 1.8 0.3 0.3 0.0 0.0 0.6 (0.6) 0.2 (0.5) 0.1 2.0 2.0 (0.3) (0.2) 0.0 0.0 1.2 (1.2) 0.3 (0.5) 0.0 1.4 Other 0.6 0.0 0.0 0.0 0.0 0.0 (0.4) 0.1 (0.1) 0.1 0.3 0.0 0.3 0.0 0.1 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.3 Debt issued designated at fair value 9.5 1.4 0.9 0.0 0.0 5.3 (5.0) 1.2 (1.7) 0.4 11.2 11.2 0.5 0.0 0.0 0.0 5.8 (4.3) 2.2 (4.3) (0.2) 11.0 Other financial liabilities designated at fair value 1.3 0.0 0.0 0.0 0.0 1.5 (0.8) 0.1 (0.2) 0.1 2.0 2.0 0.0 0.0 0.0 0.0 1.1 (2.0) 0.0 0.0 0.0 1.0 1 Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. 2 Total Level 3 assets as of 31 December 2018 were USD 7.8 billion (31 December 2017: USD 5.6 billion). Total Level 3 liabilities as of 31 December 2018 were USD 14.3 billion (31 December 2017: USD 16.2 billion). 3 Comparative-period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Own credit adjustments on financial liabilities designated at fair value | Own credit adjustments on financial liabilities designated at fair value For the year ended Included in Other comprehensive income USD million 31.12.18 31.12.17 31.12.16 Recognized during the year: Realized gain / (loss) (3) 22 18 Unrealized gain / (loss) 519 (337) (152) Total gain / (loss), before tax 517 (315) (134) As of USD million 31.12.18 31.12.17 31.12.16 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) 320 (200) 139 |
Valuation adjustments on financial instruments | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), USD million 31.12.18 31.12.17 Credit valuation adjustments 1 (90) (116) Funding valuation adjustments (85) (51) Debit valuation adjustments 1 2 Other valuation adjustments (716) (733) of which: liquidity (388) (477) of which: model uncertainty (327) (256) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.18 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,3 21.9 21.9 Derivative financial instruments 4 126.2 4.1 110.8 11.4 Brokerage receivables 16.8 0.0 16.5 0.3 Financial assets at fair value not held for trading – debt instruments 6 59.8 16.7 0.1 43.1 Total financial assets measured at fair value 224.8 0.0 37.3 0.0 0.1 110.8 0.0 0.0 76.6 Guarantees 7 1.6 0.2 1.4 Loan commitments 7 3.5 2.4 0.2 0.1 0.7 Forward starting transactions, reverse repurchase and securities borrowing agreements 8.1 8.1 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 13.3 0.0 8.1 0.0 2.4 0.0 0.2 0.4 2.1 31.12.17 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,5 26.3 26.3 Derivative financial instruments 4 121.3 4.1 102.8 14.4 Financial assets at fair value not held for trading – debt instruments 3,6 59.9 10.1 49.8 Total financial assets measured at fair value 207.4 0.0 14.1 0.0 0.0 102.8 0.0 0.0 90.5 Guarantees 7 1.7 1.7 Loan commitments 7 8.0 3.9 1.0 0.2 2.8 Total maximum exposure to credit risk not reflected on the balance sheet 9.6 0.0 0.0 0.0 3.9 0.0 1.0 0.2 4.5 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 3 Does not include investment fund units. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 6 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 7 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
Level 3 | Not measured at fair value | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Financial instruments not measured at fair value 31.12.18 31.12.17 Carrying value Fair value Carrying value Fair value USD billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets 1 Cash and balances at central banks 108.4 108.4 108.4 0.0 0.0 90.0 90.0 90.0 0.0 0.0 Loans and advances to banks 16.9 16.9 16.3 0.6 0.0 14.1 14.1 13.4 0.7 0.0 Receivables from securities financing transactions 95.3 95.4 0.0 91.9 3.4 92.0 92.0 0.0 89.4 2.5 Cash collateral receivables on derivative instruments 23.6 23.6 0.0 23.6 0.0 24.0 24.0 0.0 24.0 0.0 Loans and advances to customers 320.4 320.9 0.0 171.2 149.7 326.7 328.2 0.0 181.2 147.0 Other financial assets measured at amortized cost 2 22.6 22.4 8.4 10.7 3.3 37.8 37.7 6.5 30.2 1.0 Liabilities Amounts due to banks 11.0 11.0 8.9 1.9 0.2 7.7 7.7 6.6 1.1 0.0 Payables from securities financing transactions 10.3 10.3 0.0 10.3 0.0 17.5 17.5 0.0 17.5 0.0 Cash collateral payables on derivative instruments 28.9 28.9 0.0 28.9 0.0 31.0 31.0 0.0 31.0 0.0 Customer deposits 419.8 419.9 0.0 419.8 0.1 419.6 419.6 0.0 419.6 0.0 Debt issued measured at amortized cost 132.3 135.0 0.0 133.6 1.4 143.2 147.2 0.0 142.7 4.5 Other financial liabilities measured at amortized cost 2 6.9 6.9 0.0 6.8 0.1 37.2 37.2 0.0 37.2 0.0 1 As of 31 December 2018, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 139 billion of Loans and advances to customers and USD 15 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 0 billion of Loans and advances to banks, USD 2 billion of Receivables from securities financing transactions, USD 137 billion of Loans and advances to customers and USD 7 billion of Other financial assets measured at amortized cost were expected to be recovered or settled after 12 months. 2 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 31.12.18 31.12.17 Carrying value Fair value Carrying value Fair value USD billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets 1 Cash and balances at central banks 108.4 108.4 108.4 0.0 0.0 90.0 90.0 90.0 0.0 0.0 Loans and advances to banks 16.9 16.9 16.3 0.6 0.0 14.1 14.1 13.4 0.7 0.0 Receivables from securities financing transactions 95.3 95.4 0.0 91.9 3.4 92.0 92.0 0.0 89.4 2.5 Cash collateral receivables on derivative instruments 23.6 23.6 0.0 23.6 0.0 24.0 24.0 0.0 24.0 0.0 Loans and advances to customers 320.4 320.9 0.0 171.2 149.7 326.7 328.2 0.0 181.2 147.0 Other financial assets measured at amortized cost 2 22.6 22.4 8.4 10.7 3.3 37.8 37.7 6.5 30.2 1.0 Liabilities Amounts due to banks 11.0 11.0 8.9 1.9 0.2 7.7 7.7 6.6 1.1 0.0 Payables from securities financing transactions 10.3 10.3 0.0 10.3 0.0 17.5 17.5 0.0 17.5 0.0 Cash collateral payables on derivative instruments 28.9 28.9 0.0 28.9 0.0 31.0 31.0 0.0 31.0 0.0 Customer deposits 419.8 419.9 0.0 419.8 0.1 419.6 419.6 0.0 419.6 0.0 Debt issued measured at amortized cost 132.3 135.0 0.0 133.6 1.4 143.2 147.2 0.0 142.7 4.5 Other financial liabilities measured at amortized cost 2 6.9 6.9 0.0 6.8 0.1 37.2 37.2 0.0 37.2 0.0 1 As of 31 December 2018, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 139 billion of Loans and advances to customers and USD 15 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 0 billion of Loans and advances to banks, USD 2 billion of Receivables from securities financing transactions, USD 137 billion of Loans and advances to customers and USD 7 billion of Other financial assets measured at amortized cost were expected to be recovered or settled after 12 months. 2 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. |
UBS AG | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.18 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,3 22.0 22.0 Derivative financial instruments 4 126.2 4.1 110.8 11.4 Brokerage receivables 16.8 0.0 16.5 0.3 Financial assets at fair value not held for trading – debt instruments 6 59.8 16.7 0.1 43.1 Total financial assets measured at fair value 224.9 0.0 37.3 0.0 0.1 110.8 0.0 0.0 76.7 Guarantees 7 1.6 0.2 1.4 Loan commitments 7 3.5 2.4 0.2 0.1 0.7 Forward starting transactions, reverse repurchase and securities borrowing agreements 8.1 8.1 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 13.3 0.0 8.1 0.0 2.4 0.0 0.2 0.4 2.1 31.12.17 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,5 26.4 26.4 Derivative financial instruments 4 121.3 4.1 102.8 14.4 Financial assets at fair value not held for trading – debt instruments 3,6 59.9 10.1 49.8 Total financial assets measured at fair value 207.5 0.0 14.1 0.0 0.0 102.8 0.0 0.0 90.6 Guarantees 7 1.7 1.7 Loan commitments 7 8.0 3.9 1.0 0.2 2.8 Total maximum exposure to credit risk not reflected on the balance sheet 9.6 0.0 0.0 0.0 3.9 0.0 1.0 0.2 4.5 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 3 Does not include investment fund units. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 6 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 7 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
UBS AG | Level 3 | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,455 14,096 1,962 104,513 111,781 15,705 2,023 129,509 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,699 651 6,908 38 8,281 566 8,886 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,270 455 46 72,771 81,326 190 108 81,624 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,035 1,424 126,212 470 119,228 1,589 121,286 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,151 30 53,492 212 47,958 194 48,364 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,516 4,413 82,387 23,628 34,986 1,456 60,070 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 125 109 407 210 0 0 210 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,283 201,916 7,800 340,999 143,638 175,266 5,631 324,535 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,413 4,468 69 28,949 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,313 537 42 21,892 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,850 2,879 119,138 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,319 125 46,663 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,992 244,465 14,260 283,717 27,119 174,539 16,157 217,814 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 88,455 14,096 1,962 104,513 111,781 15,705 2,023 129,509 of which: Government bills / bonds 9,554 1,607 0 11,161 12,244 941 0 13,186 Corporate and municipal bonds 558 5,699 651 6,908 38 8,281 566 8,886 Loans 0 2,886 680 3,566 0 3,433 513 3,946 Investment fund units 6,074 3,200 442 9,716 7,409 1,886 586 9,881 Asset-backed securities 0 248 144 392 0 199 178 377 Equity instruments 72,270 455 46 72,771 81,326 190 108 81,624 Financial assets for unit-linked investment contracts 2 10,764 774 71 11,609 Derivative financial instruments 753 124,035 1,424 126,212 470 119,228 1,589 121,286 of which: Interest rate contracts 0 36,658 418 37,076 1 45,049 138 45,188 Credit derivative contracts 0 1,444 476 1,920 0 2,325 564 2,889 Foreign exchange contracts 311 53,151 30 53,492 212 47,958 194 48,364 Equity / index contracts 3 30,905 496 31,404 16 22,099 693 22,807 Commodity contracts 0 1,768 2 1,769 0 1,772 0 1,772 Brokerage receivables 3 0 16,840 0 16,840 Financial assets at fair value not held for trading 4 35,458 42,516 4,413 82,387 23,628 34,986 1,456 60,070 of which: Government bills / bonds 17,687 4,806 0 22,493 22,632 4,000 0 26,633 Corporate and municipal bonds 781 16,455 0 17,236 785 21,237 0 22,022 Financial assets for unit-linked investment contracts 2 16,694 4,751 0 21,446 Loans 0 6,380 1,752 8,132 0 9,627 778 10,405 Securities financing transactions 5 0 9,899 39 9,937 0 121 177 298 Auction rate securities 3 0 0 1,664 1,664 Investment fund units 173 125 109 407 210 0 0 210 Equity instruments 6 123 62 517 702 Other 0 38 331 369 0 0 501 501 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 4 2,319 4,347 0 6,667 3,078 5,291 521 8,889 of which: Government bills / bonds 2,171 69 0 2,239 2,804 136 0 2,940 Corporate and municipal bonds 149 348 0 497 124 1,087 9 1,220 Asset-backed securities 0 3,931 0 3,931 0 3,980 0 3,980 Other 6 0 0 0 0 150 88 512 749 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,298 0 0 4,298 4,681 0 0 4,681 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 7 0 82 0 82 0 55 43 98 Total assets measured at fair value 131,283 201,916 7,800 340,999 143,638 175,266 5,631 324,535 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.18 31.12.17 USD million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 24,413 4,468 69 28,949 26,710 4,421 120 31,251 of which: Government bills / bonds 2,423 416 0 2,839 5,286 263 0 5,549 Corporate and municipal bonds 126 3,377 27 3,530 51 3,542 36 3,629 Investment fund units 551 137 0 689 555 269 16 841 Equity instruments 21,313 537 42 21,892 20,817 345 68 21,230 Derivative financial instruments 580 122,933 2,210 125,723 409 115,850 2,879 119,138 of which: Interest rate contracts 7 32,511 226 32,743 5 39,184 191 39,380 Credit derivative contracts 0 2,203 519 2,722 0 3,278 617 3,895 Foreign exchange contracts 322 52,964 86 53,372 218 46,319 125 46,663 Equity / index contracts 1 33,669 1,371 35,041 43 25,445 1,945 27,433 Commodity contracts 0 1,487 0 1,487 0 1,601 1 1,602 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 38,420 0 38,420 Debt issued designated at fair value 0 46,074 10,957 57,031 0 39,616 11,166 50,782 Other financial liabilities designated at fair value 0 32,569 1,025 33,594 0 14,651 1,991 16,643 of which: Amounts due under unit-linked investment contracts 0 21,679 0 21,679 0 11,821 0 11,821 Securities financing transactions 5 0 9,461 0 9,461 0 382 4 385 Over-the-counter debt instruments 0 1,427 1,023 2,450 0 2,447 1,980 4,427 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 24,992 244,465 14,260 283,717 27,119 174,539 16,157 217,814 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 3 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. 5 The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 6 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 7 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss reserves USD million 2018 2017 2016 Reserve balance at the beginning of the year 338 365 420 Profit / (loss) deferred on new transactions 341 247 257 (Profit) / loss recognized in the income statement (417) (279) (293) (Profit) / loss recognized in other comprehensive income (23) Foreign currency translation (6) 6 4 Reserve balance at the end of the year 255 338 365 |
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.18 31.12.17 USD billion 31.12.18 31.12.17 31.12.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading and Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.7 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 89 0 133 92 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.7 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 100 99 50 102 98 points Discounted expected cash flows Credit spread 301 513 23 124 basis points Market comparable and securitization model Discount margin 1 14 2 0 14 2 % Auction rate securities 4 1.7 0.0 Relative value to market comparable Bond price equivalent 79 99 89 points Investment fund units 5 0.6 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.6 0.5 0.0 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 11.0 11.2 Other financial liabilities designated at fair value 6 1.0 2.0 Derivative financial instruments Interest rate contracts 0.4 0.1 0.2 0.2 Option model Volatility of interest rates 7 50 81 28 70 basis points Credit derivative contracts 0.5 0.6 0.5 0.6 Discounted expected cash flows Credit spreads 4 545 6 550 basis points Bond price equivalent 3 99 2 102 points Equity / index contracts 0.5 0.7 1.4 1.9 Option model Equity dividend yields 0 12 0 13 % Volatility of equity stocks, equity and other indices 4 93 0 172 % Equity-to-FX correlation (39) 67 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. 5 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure of sensitivity of fair value measurement to changes in unobservable inputs explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 31.12.18 31.12.17 USD million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans designated at fair value, loan commitments and guarantees 99 (44) 81 (12) Securities financing transactions 17 (11) 35 (35) Auction rate securities 1 81 (81) Asset-backed securities 27 (23) 19 (15) Equity instruments 155 (94) 81 (54) Interest rate derivative contracts, net 8 (39) 13 (27) Credit derivative contracts, net 33 (37) 66 (102) Foreign exchange derivative contracts, net 10 (5) 12 (6) Equity / index derivative contracts, net 213 (225) 195 (198) Other 19 (19) 13 (13) Total 661 (578) 515 (462) 1 Comparative-period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Disclosure Of Fair Value Of Financial Instruments Explanatory | Movements of Level 3 instruments Total gains / (losses) included in comprehensive income Total gains / (losses) included in comprehensive income USD billion Balance as of 31 December 2016 Net gains / (losses) included in income 1 of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2017 Reclassifi-cations and remeasure- ments upon adoption of IFRS 9 Balance as of 1 January 2018 Net gains / (losses) included in income 1 of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2018 2 Financial assets at fair value held for trading 1.7 (0.1) 0.0 0.7 (3.9) 2.7 0.0 1.0 (0.2) 0.1 2.0 0.4 2.4 (0.2) (0.2) 2.1 (7.1) 4.2 0.0 0.7 (0.2) 0.0 2.0 of which: Corporate and municipal bonds 0.6 0.1 0.1 0.5 (0.7) 0.0 0.0 0.1 0.0 0.0 0.6 0.6 0.0 0.0 0.6 (0.9) 0.0 0.0 0.5 0.0 0.0 0.7 Loans 0.7 (0.1) (0.1) 0.1 (2.8) 2.7 0.0 0.0 (0.1) 0.0 0.5 0.4 0.9 0.1 0.0 0.9 (5.6) 4.2 0.0 0.1 0.0 0.0 0.7 Investment fund units 0.1 (0.1) 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.6 0.6 (0.1) (0.1) 0.2 (0.3) 0.0 0.0 0.1 (0.1) 0.0 0.4 Other 0.3 0.0 0.0 0.2 (0.3) 0.0 0.0 0.2 0.0 0.0 0.4 0.4 (0.1) (0.1) 0.4 (0.4) 0.0 0.0 0.0 0.0 0.0 0.2 Financial assets at fair value not held for trading 2.0 0.2 0.2 0.0 0.0 0.4 (1.3) 0.1 (0.1) 0.1 1.5 3.0 4.4 0.0 0.0 1.7 (1.9) 0.0 0.0 0.1 (0.1) 0.1 4.4 of which: Loans 1.2 0.2 0.2 0.0 0.0 0.1 (0.7) 0.0 (0.1) 0.0 0.8 0.6 1.4 (0.2) (0.2) 1.5 (1.0) 0.0 0.0 0.1 0.0 0.0 1.8 Auction rate securities 3 1.9 1.9 0.1 0.1 0.0 (0.4) 0.0 0.0 0.0 0.0 0.1 1.7 Equity instruments 4 0.4 0.4 0.1 0.1 0.2 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 Other 0.9 (0.1) (0.1) 0.0 0.0 0.3 (0.6) 0.1 0.0 0.0 0.7 0.1 0.8 0.0 0.0 0.0 (0.4) 0.0 0.0 0.0 (0.1) 0.0 0.5 Financial assets measured at fair value through other comprehensive income 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.5 (0.5) Derivative financial instruments – assets 2.5 (0.3) (0.4) 0.0 0.0 1.0 (1.2) 0.4 (0.9) 0.1 1.6 1.6 0.0 0.0 0.0 0.0 1.0 (1.5) 0.5 (0.1) 0.0 1.4 of which: Interest rate contracts 0.3 0.0 (0.1) 0.0 0.0 0.0 (0.1) 0.1 (0.1) 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 (0.1) 0.3 0.0 0.0 0.4 Credit derivative contracts 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.3) 0.0 (0.4) 0.1 0.6 0.6 0.0 0.0 0.0 0.0 0.3 (0.4) 0.0 0.0 0.0 0.5 Equity / index contracts 0.7 (0.1) (0.1) 0.0 0.0 0.9 (0.7) 0.3 (0.4) 0.0 0.7 0.7 0.0 0.0 0.0 0.0 0.8 (1.0) 0.1 (0.1) 0.0 0.5 Other 0.2 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.2 0.2 (0.1) (0.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Derivative financial instruments – liabilities 3.9 0.3 0.1 0.0 0.0 0.7 (1.4) 0.5 (1.4) 0.2 2.9 0.0 2.9 (0.3) (0.2) 0.0 0.0 1.3 (1.5) 0.3 (0.5) 0.0 2.2 of which: Credit derivative contracts 1.5 0.0 (0.2) 0.0 0.0 0.1 (0.4) 0.2 (0.8) 0.1 0.6 0.6 0.0 0.0 0.0 0.0 0.1 (0.2) 0.1 0.0 0.0 0.5 Equity / index contracts 1.8 0.3 0.3 0.0 0.0 0.6 (0.6) 0.2 (0.5) 0.1 2.0 2.0 (0.3) (0.2) 0.0 0.0 1.2 (1.2) 0.3 (0.5) 0.0 1.4 Other 0.6 0.0 0.0 0.0 0.0 0.0 (0.4) 0.1 (0.1) 0.1 0.3 0.0 0.3 0.0 0.1 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.3 Debt issued designated at fair value 9.5 1.4 0.9 0.0 0.0 5.3 (5.0) 1.2 (1.7) 0.4 11.2 11.2 0.5 0.0 0.0 0.0 5.8 (4.3) 2.2 (4.3) (0.2) 11.0 Other financial liabilities designated at fair value 1.3 0.0 0.0 0.0 0.0 1.5 (0.8) 0.1 (0.2) 0.1 2.0 2.0 0.0 0.0 0.0 0.0 1.1 (2.0) 0.0 0.0 0.0 1.0 1 Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. 2 Total Level 3 assets as of 31 December 2018 were USD 7.8 billion (31 December 2017: USD 5.6 billion). Total Level 3 liabilities as of 31 December 2018 were USD 14.3 billion (31 December 2017: USD 16.2 billion). 3 Comparative-period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. 4 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Own credit adjustments on financial liabilities designated at fair value | Own credit adjustments on financial liabilities designated at fair value For the year ended Included in Other comprehensive income USD million 31.12.18 31.12.17 31.12.16 Recognized during the year: Realized gain / (loss) (3) 22 18 Unrealized gain / (loss) 519 (337) (152) Total gain / (loss), before tax 517 (315) (134) As of USD million 31.12.18 31.12.17 31.12.16 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) 320 (200) 139 |
Valuation adjustments on financial instruments | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), USD million 31.12.18 31.12.17 Credit valuation adjustments 1 (90) (116) Funding valuation adjustments (85) (51) Debit valuation adjustments 1 2 Other valuation adjustments (716) (733) of which: liquidity (388) (477) of which: model uncertainty (327) (256) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.18 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,3 22.0 22.0 Derivative financial instruments 4 126.2 4.1 110.8 11.4 Brokerage receivables 16.8 0.0 16.5 0.3 Financial assets at fair value not held for trading – debt instruments 6 59.8 16.7 0.1 43.1 Total financial assets measured at fair value 224.9 0.0 37.3 0.0 0.1 110.8 0.0 0.0 76.7 Guarantees 7 1.6 0.2 1.4 Loan commitments 7 3.5 2.4 0.2 0.1 0.7 Forward starting transactions, reverse repurchase and securities borrowing agreements 8.1 8.1 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 13.3 0.0 8.1 0.0 2.4 0.0 0.2 0.4 2.1 31.12.17 Maximum exposure to credit risk Collateral Credit enhancements Exposure to credit risk after collateral and credit enhancements USD billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Financial assets measured at fair value on the balance sheet Financial assets at fair value held for trading – debt instruments 2,5 26.4 26.4 Derivative financial instruments 4 121.3 4.1 102.8 14.4 Financial assets at fair value not held for trading – debt instruments 3,6 59.9 10.1 49.8 Total financial assets measured at fair value 207.5 0.0 14.1 0.0 0.0 102.8 0.0 0.0 90.6 Guarantees 7 1.7 1.7 Loan commitments 7 8.0 3.9 1.0 0.2 2.8 Total maximum exposure to credit risk not reflected on the balance sheet 9.6 0.0 0.0 0.0 3.9 0.0 1.0 0.2 4.5 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 3 Does not include investment fund units. 4 The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. 5 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 6 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 7 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
UBS AG | Level 3 | Not measured at fair value | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Financial instruments not measured at fair value 31.12.18 31.12.17 Carrying value Fair value Carrying value Fair value USD billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets 1 Cash and balances at central banks 108.4 108.4 108.4 0.0 0.0 90.0 90.0 90.0 0.0 0.0 Loans and advances to banks 16.6 16.6 16.0 0.6 0.0 14.0 14.0 13.4 0.6 0.0 Receivables from securities financing transactions 95.3 95.4 0.0 91.9 3.4 92.0 92.0 0.0 89.4 2.5 Cash collateral receivables on derivative instruments 23.6 23.6 0.0 23.6 0.0 24.0 24.0 0.0 24.0 0.0 Loans and advances to customers 321.5 322.0 0.0 172.3 149.7 329.0 330.4 0.0 183.4 147.0 Other financial assets measured at amortized cost 2 22.6 22.5 8.4 10.7 3.3 37.9 37.7 6.5 30.3 1.0 Liabilities Amounts due to banks 11.0 11.0 8.9 1.9 0.2 7.7 7.7 6.6 1.1 0.0 Payables from securities financing transactions 10.3 10.3 0.0 10.3 0.0 17.5 17.5 0.0 17.5 0.0 Cash collateral payables on derivative instruments 28.9 28.9 0.0 28.9 0.0 31.0 31.0 0.0 31.0 0.0 Customer deposits 422.0 422.0 0.0 421.9 0.1 423.1 423.1 0.0 423.1 0.0 Funding from UBS Group AG and its subsidiaries 41.2 41.7 0.0 41.7 0.0 35.6 37.3 0.0 37.3 0.0 Debt issued measured at amortized cost 91.2 93.5 0.0 92.0 1.4 107.5 109.8 0.0 105.3 4.5 Other financial liabilities measured at amortized cost 2 7.6 7.6 0.0 7.5 0.1 38.0 38.0 0.0 38.0 0.0 1 As of 31 December 2018, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 139 billion of Loans and advances to customers and USD 15 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 0 billion of Loans and advances to banks, USD 2 billion of Receivables from securities financing transactions, USD 137 billion of Loans and advances to customers and USD 7 billion of Other financial assets measured at amortized cost were expected to be recovered or settled after 12 months. 2 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 31.12.18 31.12.17 Carrying value Fair value Carrying value Fair value USD billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets 1 Cash and balances at central banks 108.4 108.4 108.4 0.0 0.0 90.0 90.0 90.0 0.0 0.0 Loans and advances to banks 16.6 16.6 16.0 0.6 0.0 14.0 14.0 13.4 0.6 0.0 Receivables from securities financing transactions 95.3 95.4 0.0 91.9 3.4 92.0 92.0 0.0 89.4 2.5 Cash collateral receivables on derivative instruments 23.6 23.6 0.0 23.6 0.0 24.0 24.0 0.0 24.0 0.0 Loans and advances to customers 321.5 322.0 0.0 172.3 149.7 329.0 330.4 0.0 183.4 147.0 Other financial assets measured at amortized cost 2 22.6 22.5 8.4 10.7 3.3 37.9 37.7 6.5 30.3 1.0 Liabilities Amounts due to banks 11.0 11.0 8.9 1.9 0.2 7.7 7.7 6.6 1.1 0.0 Payables from securities financing transactions 10.3 10.3 0.0 10.3 0.0 17.5 17.5 0.0 17.5 0.0 Cash collateral payables on derivative instruments 28.9 28.9 0.0 28.9 0.0 31.0 31.0 0.0 31.0 0.0 Customer deposits 422.0 422.0 0.0 421.9 0.1 423.1 423.1 0.0 423.1 0.0 Funding from UBS Group AG and its subsidiaries 41.2 41.7 0.0 41.7 0.0 35.6 37.3 0.0 37.3 0.0 Debt issued measured at amortized cost 91.2 93.5 0.0 92.0 1.4 107.5 109.8 0.0 105.3 4.5 Other financial liabilities measured at amortized cost 2 7.6 7.6 0.0 7.5 0.1 38.0 38.0 0.0 38.0 0.0 1 As of 31 December 2018, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 139 billion of Loans and advances to customers and USD 15 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 0 billion of Loans and advances to banks, USD 2 billion of Receivables from securities financing transactions, USD 137 billion of Loans and advances to customers and USD 7 billion of Other financial assets measured at amortized cost were expected to be recovered or settled after 12 months. 2 Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. |
Offsetting financial assets a_2
Offsetting financial assets and financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Assets not subject to netting arrangements 5 Total assets As of 31.12.18, USD billion Gross assets before netting Netting with gross liabilities 3 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Receivables from securities financing transactions 1 88.5 (13.0) 75.5 (4.4) (71.2) 0.0 19.8 19.8 95.3 Derivative financial instruments 124.3 (4.3) 120.0 (90.8) (24.0) 5.2 6.2 11.4 126.2 Cash collateral receivables on derivative instruments 2 24.6 (2.3) 22.3 (13.5) (1.0) 7.8 1.3 9.1 23.6 Financial assets at fair value not held for trading 1 85.4 (77.5) 7.8 (1.4) (6.4) 0.0 74.9 74.9 82.7 of which: reverse repurchase agreements 85.3 (77.5) 7.8 (1.4) (6.4) 0.0 2.1 2.1 9.9 Total assets 322.9 (97.2) 225.7 (110.0) (102.6) 13.0 102.2 115.2 327.9 As of 31.12.17, USD billion Receivables from securities financing transactions 1 147.9 (78.8) 69.1 (7.7) (61.4) 0.0 22.8 22.8 92.0 Derivative financial instruments 117.2 (2.1) 115.1 (85.6) (21.3) 8.2 6.2 14.4 121.3 Cash collateral receivables on derivative instruments 2 22.2 (1.1) 21.1 (12.0) (0.8) 8.3 2.9 11.2 24.0 Financial assets at fair value not held for trading 1 0.4 0.0 0.4 0.0 (0.2) 0.2 60.0 60.3 60.5 Total assets 287.8 (82.0) 205.8 (105.4) (83.7) 16.8 91.9 108.7 297.7 1 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Financial assets at fair value not held for trading” and a decrease in amounts presented on the line “Receivables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. Netting in this column for reverse repurchase agreements presented within the lines “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” taken together corresponds to the amounts presented for repurchase agreements in the “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” lines in the liabilities table presented on the following page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Liabilities not subject to netting arrangements 5 Total liabilities As of 31.12.18, USD billion Gross liabilities before netting Netting with gross assets 3 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Payables from securities financing transactions 1 20.6 (12.4) 8.3 (3.6) (4.7) 0.0 2.0 2.0 10.3 Derivative financial instruments 124.1 (4.3) 119.8 (90.8) (20.9) 8.1 5.9 14.0 125.7 Cash collateral payables on derivative instruments 2 29.0 (2.3) 26.7 (14.2) (1.2) 11.3 2.2 13.5 28.9 Other financial liabilities designated at fair value 1 86.6 (78.2) 8.4 (2.1) (5.9) 0.4 25.2 25.6 33.6 of which: repurchase agreements 86.1 (78.2) 7.9 (2.1) (5.9) 0.0 1.6 1.6 9.5 Total liabilities 260.4 (97.2) 163.2 (110.7) (32.6) 19.8 35.4 55.2 198.5 As of 31.12.17, USD billion Payables from securities financing transactions 1 92.5 (78.8) 13.7 (7.7) (6.0) 0.0 3.8 3.8 17.5 Derivative financial instruments 114.3 (2.1) 112.2 (85.6) (15.4) 11.2 6.9 18.1 119.1 Cash collateral payables on derivative instruments 2 30.2 (1.1) 29.2 (16.7) (1.2) 11.3 1.9 13.1 31.0 Other financial liabilities designated at fair value 1 1.9 0.0 1.9 0.0 (0.1) 1.8 14.7 16.5 16.6 Total liabilities 239.0 (82.0) 157.0 (110.0) (22.7) 24.3 27.3 51.6 184.3 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Other financial liabilities designated at fair value” and a decrease in amounts presented on the line “Payables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain exchange-traded derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. Netting in this column for repurchase agreements presented within the lines “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” taken together corresponds to the amounts presented for reverse repurchase agreements in the “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” lines in the assets table presented on the previous page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
UBS AG | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Assets not subject to netting arrangements 5 Total assets As of 31.12.18, USD billion Gross assets before netting Netting with gross liabilities 3 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Receivables from securities financing transactions 1 88.5 (13.0) 75.5 (4.4) (71.2) 0.0 19.8 19.8 95.3 Derivative financial instruments 124.3 (4.3) 120.0 (90.8) (24.0) 5.2 6.2 11.4 126.2 Cash collateral receivables on derivative instruments 2 24.6 (2.3) 22.3 (13.5) (1.0) 7.8 1.3 9.1 23.6 Financial assets at fair value not held for trading 1 85.4 (77.5) 7.8 (1.4) (6.4) 0.0 74.6 74.6 82.4 of which: reverse repurchase agreements 85.3 (77.5) 7.8 (1.4) (6.4) 0.0 2.1 2.1 9.9 Total assets 322.9 (97.2) 225.7 (110.0) (102.6) 13.0 101.9 114.9 327.6 As of 31.12.17, USD billion Receivables from securities financing transactions 1 147.9 (78.8) 69.1 (7.7) (61.4) 0.0 22.8 22.8 92.0 Derivative financial instruments 117.2 (2.1) 115.1 (85.6) (21.3) 8.2 6.2 14.4 121.3 Cash collateral receivables on derivative instruments 2 22.2 (1.1) 21.1 (12.0) (0.8) 8.3 2.9 11.2 24.0 Financial assets at fair value not held for trading 1 0.4 0.0 0.4 0.0 (0.2) 0.2 59.6 59.9 60.1 Total assets 287.8 (82.0) 205.8 (105.4) (83.7) 16.8 91.6 108.3 297.4 1 Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Financial assets at fair value not held for trading” and a decrease in amounts presented on the line “Receivables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. Netting in this column for reverse repurchase agreements presented within the lines “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” taken together corresponds to the amounts presented for repurchase agreements in the “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” lines in the liabilities table presented on the following page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 4 Liabilities not subject to netting arrangements 5 Total liabilities As of 31.12.18, USD billion Gross liabilities before netting Netting with gross assets 3 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Payables from securities financing transactions 1 20.6 (12.4) 8.3 (3.6) (4.7) 0.0 2.0 2.0 10.3 Derivative financial instruments 124.1 (4.3) 119.8 (90.8) (20.9) 8.1 5.9 14.0 125.7 Cash collateral payables on derivative instruments 2 29.0 (2.3) 26.7 (14.2) (1.2) 11.3 2.2 13.5 28.9 Other financial liabilities designated at fair value 1 86.6 (78.2) 8.4 (2.1) (5.9) 0.4 25.2 25.6 33.6 of which: repurchase agreements 86.1 (78.2) 7.9 (2.1) (5.9) 0.0 1.6 1.6 9.5 Total liabilities 260.4 (97.2) 163.2 (110.7) (32.6) 19.8 35.4 55.2 198.5 As of 31.12.17, USD billion Payables from securities financing transactions 1 92.5 (78.8) 13.7 (7.7) (6.0) 0.0 3.8 3.8 17.5 Derivative financial instruments 114.3 (2.1) 112.2 (85.6) (15.4) 11.2 6.9 18.1 119.1 Cash collateral payables on derivative instruments 2 30.2 (1.1) 29.2 (16.7) (1.2) 11.3 1.9 13.1 31.0 Other financial liabilities designated at fair value 1 1.9 0.0 1.9 0.0 (0.1) 1.8 14.7 16.5 16.6 Total liabilities 239.0 (82.0) 157.0 (110.0) (22.7) 24.3 27.3 51.6 184.3 1 Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Other financial liabilities designated at fair value” and a decrease in amounts presented on the line “Payables from securities financing transactions.” Refer to Note 1c for more information. 2 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain exchange-traded derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. 3 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. Netting in this column for repurchase agreements presented within the lines “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” taken together corresponds to the amounts presented for reverse repurchase agreements in the “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” lines in the assets table presented on the previous page. 4 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 5 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
Restricted financial assets (Ta
Restricted financial assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets USD million 31.12.18 31.12.17 Financial assets pledged as collateral Financial assets at fair value held for trading 43,292 47,414 of which: assets pledged as collateral that may be sold or repledged by counterparties 32,121 36,277 Loans and advances to customers 1 18,804 18,087 Financial assets at fair value not held for trading 0 174 Total financial assets pledged as collateral 2 62,096 65,676 Other restricted financial assets Loans and advances to banks 5,140 3,364 Financial assets at fair value held for trading 3 3,589 12,591 Cash collateral receivables on derivative instruments 3,205 3,921 Loans and advances to customers 935 1,289 Financial assets at fair value not held for trading 3 23,514 2,669 Financial assets measured at fair value through other comprehensive income 171 253 Other 203 97 Total other restricted financial assets 36,758 24,183 Total financial assets pledged and other restricted financial assets 98,854 89,859 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). 3 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets USD million 31.12.18 31.12.17 Financial assets pledged as collateral Financial assets at fair value held for trading 43,292 47,454 of which: assets pledged as collateral that may be sold or repledged by counterparties 32,121 36,277 Loans and advances to customers 1 18,804 18,087 Financial assets at fair value not held for trading 0 174 Total financial assets pledged as collateral 2 62,096 65,715 Other restricted financial assets Loans and advances to banks 5,140 3,364 Financial assets at fair value held for trading 3 1,054 12,591 Cash collateral receivables on derivative instruments 3,205 3,921 Loans and advances to customers 935 1,289 Financial assets at fair value not held for trading 3 23,212 2,282 Financial assets measured at fair value through other comprehensive income 171 253 Other 203 97 Total other restricted financial assets 33,920 23,796 Total financial assets pledged and other restricted financial assets 96,016 89,512 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). 3 Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
Transferred financial assets _3
Transferred financial assets that are not derecognized in their entirety (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Transferred Financial Assets Not Derecognized [Line Items] | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition Explanatory | Transferred financial assets subject to continued recognition in full USD million 31.12.18 31.12.17 Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 32,121 4,674 36,277 13,277 relating to securities lending and repurchase agreements in exchange for cash received 4,726 4,674 13,485 13,277 relating to securities lending agreements in exchange for securities received 26,234 0 21,684 0 relating to other financial asset transfers 1,161 0 1,109 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 0 0 174 173 Total financial assets transferred 32,121 4,674 36,451 13,450 |
UBS AG | |
Notes Transferred Financial Assets Not Derecognized [Line Items] | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition Explanatory | Transferred financial assets subject to continued recognition in full USD million 31.12.18 31.12.17 Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 32,121 4,674 36,277 13,277 relating to securities lending and repurchase agreements in exchange for cash received 4,726 4,674 13,485 13,277 relating to securities lending agreements in exchange for securities received 26,234 0 21,684 0 relating to other financial asset transfers 1,161 0 1,109 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 0 0 174 173 Total financial assets transferred 32,121 4,674 36,451 13,450 |
Off-balance sheet assets rece_2
Off-balance sheet assets received (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Off-balance Sheet Assets Received [Line Items] | |
Tabular disclosure of off-balance sheet assets received [text block] | Off-balance sheet assets received USD million 31.12.18 31.12.17 Fair value of assets received that can be sold or repledged 483,688 481,265 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 473,302 474,420 received in unsecured borrowings 10,385 6,845 Thereof sold or repledged 2 356,745 346,243 in connection with financing activities 315,402 300,880 to satisfy commitments under short sale transactions 28,943 31,251 in connection with derivative and other transactions 1 12,400 14,112 1 Includes securities received as initial margin from its clients that UBS is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
UBS AG | |
Notes Off-balance Sheet Assets Received [Line Items] | |
Tabular disclosure of off-balance sheet assets received [text block] | Off-balance sheet assets received USD million 31.12.18 31.12.17 Fair value of assets received that can be sold or repledged 483,688 481,265 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 473,302 474,420 received in unsecured borrowings 10,385 6,845 Thereof sold or repledged 2 356,745 346,243 in connection with financing activities 315,402 300,880 to satisfy commitments under short sale transactions 28,943 31,251 in connection with derivative and other transactions 1 12,400 14,112 1 Includes securities received as initial margin from its clients that UBS is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Maturity analysis of financia_2
Maturity analysis of financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure of maturity analysis for financial liabilities [text block] | Maturity analysis of financial liabilities 31.12.18 USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 1 Amounts due to banks 7.9 1.0 1.6 0.5 0.0 11.0 Payables from securities financing transactions 9.5 0.6 0.3 0.0 10.4 Cash collateral payables on derivative instruments 28.9 28.9 Customer deposits 395.8 13.1 7.0 4.4 0.0 420.4 Debt issued measured at amortized cost 2 4.6 6.3 39.9 57.6 37.8 146.2 Other financial liabilities measured at amortized cost 5.6 5.6 Total financial liabilities measured at amortized cost 452.4 21.0 48.8 62.6 37.8 622.6 Financial liabilities at fair value held for trading 3,4 28.9 28.9 Derivative financial instruments 3 125.7 125.7 Brokerage payables designated at fair value 38.4 38.4 Debt issued designated at fair value 5 15.7 18.1 10.2 7.4 8.0 59.4 Other financial liabilities designated at fair value 30.0 0.4 1.1 1.2 1.0 33.7 Total financial liabilities measured at fair value through profit or loss 238.8 18.5 11.3 8.6 9.0 286.2 Total 691.2 39.5 60.1 71.2 46.8 908.8 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 34.1 0.3 0.3 0.0 34.7 Guarantees 7 19.8 19.8 Forward starting transactions Reverse repurchase agreements 7 9.0 0.0 9.0 Securities borrowing agreements 0.0 0.0 Total 62.9 0.3 0.4 0.0 0.0 63.6 31.12.17 Financial liabilities recognized on balance sheet 1 Amounts due to banks 6.3 0.4 1.0 0.1 0.0 7.7 Payables from securities financing transactions 13.9 3.1 0.6 0.0 0.0 17.7 Cash collateral payables on derivative instruments 31.0 31.0 Customer deposits 403.2 10.5 5.3 0.7 0.1 419.7 Debt issued measured at amortized cost 2 4.2 15.4 46.4 52.1 39.1 157.1 Other financial liabilities measured at amortized cost 36.0 36.0 Total financial liabilities measured at amortized cost 494.6 29.4 53.3 52.9 39.2 669.3 Financial liabilities at fair value held for trading 3,4 31.3 31.3 Derivative financial instruments 3 119.1 119.1 Debt issued designated at fair value 5 18.3 10.0 10.3 7.7 6.2 52.6 Other financial liabilities designated at fair value 12.4 0.6 1.5 1.4 1.0 17.0 Total financial liabilities measured at fair value through profit or loss 181.1 10.6 11.9 9.1 7.3 219.9 Total 675.7 40.0 65.1 61.9 46.4 889.2 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 39.2 0.2 0.2 0.1 39.7 Guarantees 7 19.3 0.0 19.3 Forward starting transactions Reverse repurchase agreements 7 13.0 13.0 Securities borrowing agreements 0.0 0.0 Total 71.5 0.2 0.2 0.1 0.0 72.0 1 Except for financial liabilities at fair value held for trading and derivative financial instruments (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 2 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). 5 Future interest payments on variable-rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 7 Loan commitments measured at fair value of USD 3.5 billion, guarantees measured at fair value of USD 1.6 billion and forward starting reverse repurchase agreements measured at fair value of USD 8.1 billion are under the time bucket Due within 1 month. |
UBS AG | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure of maturity analysis for financial liabilities [text block] | Maturity analysis of financial liabilities 31.12.18 USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 1 Amounts due to banks 7.9 1.0 1.6 0.5 0.0 11.0 Payables from securities financing transactions 9.5 0.6 0.3 0.0 10.4 Cash collateral payables on derivative instruments 28.9 28.9 Customer deposits 396.6 13.4 6.9 5.1 0.0 422.1 Funding from UBS Group AG and its subsidiaries 2 0.0 0.0 0.5 21.9 22.0 44.4 Debt issued measured at amortized cost 2 4.6 5.8 39.1 34.7 12.4 96.5 Other financial liabilities measured at amortized cost 6.4 6.4 Total financial liabilities measured at amortized cost 453.9 20.8 48.4 62.3 34.3 619.7 Financial liabilities at fair value held for trading 3,4 29.0 29.0 Derivative financial instruments 3 125.7 125.7 Brokerage payables designated at fair value 38.4 38.4 Debt issued designated at fair value 5 15.7 18.1 10.2 7.4 8.0 59.4 Other financial liabilities designated at fair value 30.0 0.4 1.1 1.2 1.0 33.7 Total financial liabilities measured at fair value through profit or loss 238.8 18.5 11.3 8.6 9.0 286.2 Total 692.7 39.3 59.7 70.9 43.3 905.9 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 34.1 0.3 0.3 0.0 34.7 Guarantees 7 19.8 19.8 Forward starting transactions Reverse repurchase agreements 7 9.0 0.0 9.0 Securities borrowing agreements 0.0 0.0 Total 62.9 0.3 0.4 0.0 0.0 63.6 31.12.17 Financial liabilities recognized on balance sheet 1 Amounts due to banks 6.3 0.4 1.0 0.1 0.0 7.7 Payables from securities financing transactions 13.9 3.1 0.6 0.0 0.0 17.7 Cash collateral payables on derivative instruments 31.0 31.0 Customer deposits 405.0 11.3 5.2 0.9 0.0 422.4 Funding from UBS Group AG and its subsidiaries 2 0.4 0.7 21.9 19.6 42.6 Debt issued measured at amortized cost 2 4.2 14.8 45.6 35.7 12.8 113.1 Other financial liabilities measured at amortized cost 36.8 36.8 Total financial liabilities measured at amortized cost 497.2 30.1 53.2 58.6 32.4 671.4 Financial liabilities at fair value held for trading 3,4 31.3 31.3 Derivative financial instruments 3 119.1 119.1 Debt issued designated at fair value 5 18.3 10.0 8.5 7.7 6.2 50.7 Other financial liabilities designated at fair value 12.4 0.6 3.4 1.4 1.0 18.8 Total financial liabilities measured at fair value through profit or loss 181.1 10.6 11.9 9.1 7.3 219.9 Total 678.3 40.7 65.0 67.6 39.7 891.3 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 39.2 0.2 0.2 0.1 39.7 Guarantees 7 19.3 0.0 19.3 Forward starting transactions Reverse repurchase agreements 7 13.0 13.0 Securities borrowing agreements 0.0 0.0 Total 71.5 0.2 0.2 0.1 0.0 72.0 1 Except for financial liabilities at fair value held for trading and derivative financial instruments (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 2 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). 5 Future interest payments on variable-rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 7 Loan commitments measured at fair value of USD 3.5 billion, guarantees measured at fair value of USD 1.6 billion and forward starting reverse repurchase agreements measured at fair value of USD 8.1 billion are under the time bucket Due within 1 month. |
Hedge accounting (Tables)
Hedge accounting (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Profile of the timing of the nominal amount of the hedging instrument USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 4 43 17 64 Derivatives designated in hedge accounting relationships (undiscounted cash flows) USD billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 9 2 0 0 0 11 Cash outflows 0 9 2 0 0 0 11 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2018 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
Cash Flow Hedges [Member] | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Other comprehensive income recognized directly in equity related to cash flow hedges USD million 2018 2017 2016 Balance at the beginning of the year 360 955 1,635 Effective portion of changes in fair value of hedging instruments recognized in OCI (42) 45 234 Amount reclassified to Net interest income when the hedged item affected net profit / (loss) (294) (843) (1,094) of which: reclassified to interest income on amortized-cost instruments 1 (293) of which: reclassified to interest income on FVTPL instruments 1 (1) Translation effects recognized directly in retained earnings 18 39 4 Income tax related to cash flow hedges 67 163 176 Balance at the end of the year 109 360 955 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 73 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts are disclosed on a pre-tax basis. |
Disclosure Of Detailed Information About Hedging Instruments Explanatory | Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 70,149 Carrying amount Derivative financial assets 24 31 Derivative financial liabilities 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 97 Changes in fair value of hedged items (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income (42) 45 234 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 25 8 11 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedges of net investments in foreign operations | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Foreign currency translation reserve USD million 31.12.18 31.12.17 31.12.16 Foreign currency translation reserve 3,924 4,466 2,901 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 777 of which: for which hedge accounting continues to be applied 1 521 of which: for which hedge accounting is no longer applied 1 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Disclosure Of Detailed Information About Hedging Instruments Explanatory | Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: derivative financial instruments Nominal amount 11,537 13,374 Carrying amount Derivative financial assets 56 80 Derivative financial liabilities 48 133 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 229 2,969 Carrying amount 1 Receivables from securities financing transactions 115 Payables from securities financing transactions 115 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 Changes in fair value of hedging instruments 1 205 Changes in fair value of hedged items 1 (205) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI 1 181 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 1 24 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 63,816 Carrying amount Derivative financial assets 27 49 Derivative financial liabilities 1 2 Hedged items: debt issued measured at amortized cost Carrying amount 1 63,785 of which: accumulated amount of fair value hedge adjustment (298) 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (341) (16) 166 Changes in fair value of hedged items 1 329 (4) (170) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (11) (20) (4) 1 For prior periods, the amounts included offsetting accrued interest, which did not have any effect on net gains / (losses) related to hedge ineffectiveness. |
Portfolio interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 10,318 Carrying amount Derivative financial assets 0 0 Derivative financial liabilities 31 33 Hedged items: loans and advances to customers Carrying amount 1 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 2 200 of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting 2 89 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts presented within Other financial assets measured at amortized cost and Other financial liabilities measured at amortized cost. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (22) (10) (132) Changes in fair value of hedged items 1 16 3 119 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (6) (7) (13) 1 For prior periods, the amounts included offsetting accrued interest, which had no effect on net gains / (losses) related to hedge ineffectiveness. |
UBS AG | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Profile of the timing of the nominal amount of the hedging instrument USD billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 4 43 17 64 Derivatives designated in hedge accounting relationships (undiscounted cash flows) USD billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 9 2 0 0 0 11 Cash outflows 0 9 2 0 0 0 11 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2018 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
UBS AG | Cash Flow Hedges [Member] | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Other comprehensive income recognized directly in equity related to cash flow hedges USD million 2018 2017 2016 Balance at the beginning of the year 360 955 1,635 Effective portion of changes in fair value of hedging instruments recognized in OCI (42) 45 234 Amount reclassified to Net interest income when the hedged item affected net profit / (loss) (294) (843) (1,094) of which: reclassified to interest income on amortized-cost instruments 1 (293) of which: reclassified to interest income on FVTPL instruments 1 (1) Translation effects recognized directly in retained earnings 18 39 4 Income tax related to cash flow hedges 67 163 176 Balance at the end of the year 109 360 955 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 73 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts are disclosed on a pre-tax basis. |
Disclosure Of Detailed Information About Hedging Instruments Explanatory | Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 70,149 Carrying amount Derivative financial assets 24 31 Derivative financial liabilities 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 97 Changes in fair value of hedged items (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income (42) 45 234 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 25 8 11 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
UBS AG | Hedges of net investments in foreign operations | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Foreign currency translation reserve USD million 31.12.18 31.12.17 31.12.16 Foreign currency translation reserve 3,940 4,455 2,933 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 770 of which: for which hedge accounting continues to be applied 1 515 of which: for which hedge accounting is no longer applied 1 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 2 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Disclosure Of Detailed Information About Hedging Instruments Explanatory | Hedging instruments USD million 31.12.18 31.12.17 Hedging instruments: derivative financial instruments Nominal amount 11,432 13,237 Carrying amount Derivative financial assets 56 79 Derivative financial liabilities 45 132 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 229 2,970 Carrying amount 1 Receivables from securities financing transactions 115 Payables from securities financing transactions 115 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 Changes in fair value of hedging instruments 1 199 Changes in fair value of hedged items 1 (199) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI 1 181 Ineffectiveness recognized as Other net income from fair value changes on financial instruments 1 18 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
UBS AG | Interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 63,816 Carrying amount Derivative financial assets 27 49 Derivative financial liabilities 1 2 Hedged items: debt issued measured at amortized cost Carrying amount 1 28,139 of which: accumulated amount of fair value hedge adjustment 282 Hedged items: funding from UBS Group AG and its subsidiaries Carrying amount 1 35,647 of which: accumulated amount of fair value hedge adjustment (580) 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (341) (16) 166 Changes in fair value of hedged items 1 329 (4) (170) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (11) (20) (4) 1 For prior periods, the amounts included offsetting accrued interest, which did not have any effect on net gains / (losses) related to hedge ineffectiveness. |
UBS AG | Portfolio interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.18 31.12.17 Hedging instruments: interest rate swaps Nominal amount 1 10,318 Carrying amount Derivative financial assets 0 0 Derivative financial liabilities 31 33 Hedged items: loans and advances to customers Carrying amount 1 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 2 200 of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting 2 89 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. 2 Amounts presented within Other financial assets measured at amortized cost and Other financial liabilities measured at amortized cost. Hedge ineffectiveness For the year ended USD million 31.12.18 31.12.17 31.12.16 Changes in fair value of hedging instruments 1 (22) (10) (132) Changes in fair value of hedged items 1 16 3 119 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments (6) (7) (13) 1 For prior periods, the amounts included offsetting accrued interest, which had no effect on net gains / (losses) related to hedge ineffectiveness. |
Pension and other post-employ_2
Pension and other post-employment benefit plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of expenses on post-employment benefit [text block] | Income statement – expenses related to pension and other post-employment benefit plans USD million 31.12.18 31.12.17 31.12.16 Net periodic expenses for defined benefit plans 188 481 440 of which: related to major pension plans 1 186 460 417 of which: Swiss plan 2 153 414 386 of which: UK plan 11 15 (2) of which: US and German plans 22 31 34 of which: related to post-employment medical insurance plans 3 (11) 3 4 of which: UK plan 1 1 1 of which: US plans (12) 2 3 of which: related to remaining plans and other expenses 4 13 17 19 Expenses for defined contribution plans 5 268 243 238 of which: UK plans 80 72 78 of which: US plan 127 110 107 of which: remaining plans 61 61 53 Total pension and other post-employment benefit plan expenses 6 457 723 678 1 Refer to Note 29a for more information. 2 Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 241 million related to past service. Refer to Note 29a for more information on these changes. 3 Refer to Note 29b for more information. 4 Other expenses include differences between actual and estimated performance award accruals. 5 Refer to Note 29c for more information. 6 Refer to Note 6. |
Disclosure of Other comprehensive income gains/(losses) on defined benefit plans [text block] | Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.18 31.12.17 31.12.16 Major pension plans 1 (230) 253 (842) of which: Swiss plan (352) (79) (94) of which: UK plan 130 304 (623) of which: US and German plans (8) 28 (126) Post-employment medical insurance plans 2 7 1 (13) of which: UK plan 3 1 (5) of which: US plans 4 0 (7) Remaining plans 3 31 (26) Gains / (losses) recognized in other comprehensive income, before tax (220) 286 (880) Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 276 11 51 Gains / (losses) recognized in other comprehensive income, net of tax 3 56 296 (829) 1 Refer to Note 29a for more information. 2 Refer to Note 29b for more information. 3 Refer to the “Statement of comprehensive income.” |
Disclosure of net defined benefit liability [text block] | Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.18 31.12.17 Major pension plans 1 671 825 of which: Swiss plan 0 0 of which: UK plan 160 275 of which: US and German plans 2 511 550 Post-employment medical insurance plans 3 62 88 of which: UK plan 22 27 of which: US plans 40 61 Remaining plans 42 36 Total net defined benefit pension and post-employment liability 4 775 949 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). 3 Refer to Note 29b for more information. 4 Refer to Note 22. |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended USD million 31.12.18 31.12.17 31.12.16 Received by UBS Fees 35 36 36 Paid by UBS Rent 4 5 5 Dividends, capital repayments and interest 10 10 14 |
Disclosure of transaction volumes of UBS shares and UBS debt instruments [text block] | Transaction volumes – UBS shares and UBS debt instruments For the year ended 31.12.18 31.12.17 Financial instruments bought by pension funds UBS shares (in thousands of shares) 889 905 UBS debt instruments (par values, USD million) 13 2 Financial instruments sold by pension funds or matured UBS shares (in thousands of shares) 547 2,897 UBS debt instruments (par values, USD million) 3 4 UBS shares held by pension and other post-employment benefit plans 31.12.18 31.12.17 Number of shares (in thousands of shares) 16,712 16,370 Fair value (USD million) 207 301 |
Major pension plans | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Defined benefit pension plans USD million Swiss plan UK plan US and German plans Total 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit obligation at the beginning of the year 23,419 22,465 3,744 3,639 1,816 1,725 28,978 27,830 Current service cost 405 456 0 0 7 9 413 465 Interest expense 151 166 93 102 55 63 299 331 Plan participant contributions 218 208 0 0 0 0 218 208 Remeasurements (242) 301 (266) (88) (69) 82 (577) 295 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 6 (18) (82) (5) (5) (23) (81) of which: actuarial (gains) / losses due to changes in financial assumptions (639) 141 (257) 44 (69) 86 (964) 271 of which: experience (gains) / losses 1 397 154 8 (50) 5 2 410 105 Past service cost related to plan amendments (241) 0 4 0 0 0 (237) 0 Curtailments (20) (50) 0 0 0 0 (20) (50) Benefit payments (954) (1,121) (202) (256) (112) (109) (1,268) (1,487) Other movements 0 (8) 0 0 0 0 0 (8) Foreign currency translation (170) 1,001 (181) 347 (18) 47 (369) 1,395 Defined benefit obligation at the end of the year 22,566 23,419 3,192 3,744 1,679 1,816 27,437 28,978 of which: amounts owed to active members 10,452 10,741 146 180 226 255 10,823 11,176 of which: amounts owed to deferred members 0 0 1,434 1,930 606 645 2,040 2,575 of which: amounts owed to retirees 12,114 12,678 1,612 1,634 847 916 14,574 15,228 Fair value of plan assets at the beginning of the year 26,656 24,184 3,469 3,120 1,265 1,124 31,390 28,428 Return on plan assets excluding amounts included in interest income (523) 1,640 (136) 215 (77) 110 (736) 1,965 Interest income 177 181 86 88 44 44 306 313 Employer contributions 505 485 0 0 51 100 556 585 Plan participant contributions 218 208 0 0 0 0 218 208 Benefit payments (954) (1,121) (202) (256) (112) (109) (1,268) (1,487) Administration expenses, taxes and premiums paid (11) (10) 0 0 (3) (4) (14) (15) Foreign currency translation (228) 1,090 (185) 302 0 0 (412) 1,392 Fair value of plan assets at the end of the year 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Asset ceiling effect at the beginning of the year 3,237 1,718 0 0 0 0 3,237 1,718 Interest expense on asset ceiling effect 23 13 0 0 0 0 23 13 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 71 1,417 0 0 0 0 71 1,417 Foreign currency translation (58) 89 0 0 0 0 (58) 89 Asset ceiling effect at the end of the year 3,274 3,237 0 0 0 0 3,274 3,237 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (275) (519) (550) (601) (825) (1,120) Net periodic expenses recognized in net profit (153) (414) (11) (15) (22) (31) (186) (460) Gains / (losses) recognized in other comprehensive income (352) (79) 130 304 (8) 28 (230) 253 Employer contributions 505 485 0 0 51 100 556 585 Other movements 0 8 0 0 0 0 0 8 Foreign currency translation 0 0 (4) (45) 18 (47) 14 (91) Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (160) (275) (511) (550) (671) (825) Funded and unfunded plans Defined benefit obligation from funded plans 22,566 23,419 3,192 3,744 1,219 1,324 26,976 28,487 Defined benefit obligation from unfunded plans 0 0 0 0 460 492 460 492 Plan assets 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Surplus / (deficit) 3,274 3,237 (160) (275) (511) (550) 2,603 2,412 Asset ceiling effect 3,274 3,237 0 0 0 0 3,274 3,237 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Current service cost 405 456 0 0 7 9 413 465 Interest expense related to defined benefit obligation 151 166 93 102 55 63 299 331 Interest income related to plan assets (177) (181) (86) (88) (44) (44) (306) (313) Interest expense on asset ceiling effect 23 13 0 0 0 0 23 13 Administration expenses, taxes and premiums paid 11 10 0 0 3 4 14 15 Past service cost related to plan amendments (241) 0 4 0 0 0 (237) 0 Curtailments (20) (50) 0 0 0 0 (20) (50) Net periodic expenses recognized in net profit 153 414 11 15 22 31 186 460 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Remeasurement of defined benefit obligation 242 (301) 266 88 69 (82) 577 (295) Return on plan assets excluding amounts included in interest income (523) 1,640 (136) 215 (77) 110 (736) 1,965 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (71) (1,417) 0 0 0 0 (71) (1,417) Total gains / (losses) recognized in other comprehensive income, before tax (352) (79) 130 304 (8) 28 (230) 253 |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan UK plan US and German plans 1 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Duration of the defined benefit obligation (in years) 14.5 15.1 19.5 20.0 9.8 10.6 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 1,153 1,149 82 83 108 108 Benefits expected to be paid between 1 and 3 years 2,356 2,294 187 182 216 217 Benefits expected to be paid between 3 and 6 years 3,554 3,455 345 337 336 330 Benefits expected to be paid between 6 and 11 years 5,643 5,564 701 717 566 572 Benefits expected to be paid between 11 and 16 years 5,142 5,109 770 806 494 514 Benefits expected to be paid in more than 16 years 16,792 17,190 3,927 4,325 798 887 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. |
Disclosure of actuarial assumptions [text block] | Significant actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate 0.92 0.67 2.90 2.55 3.69 3.14 Rate of salary increase 1.50 1.30 0.00 0.00 2.81 2.83 Rate of pension increase 0.00 0.00 3.10 3.11 1.50 1.50 Rate of interest credit on retirement savings 0.92 0.67 0.00 0.00 3.70 2.56 1 Represents weighted average assumptions across US and German plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in defined benefit obligation Swiss plan UK plan US and German plans USD million 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate Increase by 50 basis points (1,327) (1,470) (292) (350) (77) (90) Decrease by 50 basis points 1,503 1,669 333 401 84 98 Rate of salary increase Increase by 50 basis points 68 86 – 2 – 2 1 1 Decrease by 50 basis points (65) (82) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 1,090 1,212 260 380 6 7 Decrease by 50 basis points – 3 – 3 (262) (336) (6) (7) Rate of interest credit on retirement savings Increase by 50 basis points 231 267 – 4 – 4 9 9 Decrease by 50 basis points (219) (253) – 4 – 4 (9) (9) Life expectancy Increase in longevity by one additional year 751 827 122 143 42 48 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. 2 As the plan is closed for future service, a change in assumption is not applicable. 3 As the assumed rate of pension increase was 0% as of 31 December 2018 and as of 31 December 2017, a downward change in assumption is not applicable. 4 As the UK plan does not provide interest credits on retirement savings, a change in assumption is not applicable. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 137 0 137 1 120 0 120 0 Real estate / property Domestic 0 2,963 2,963 11 0 2,859 2,859 11 Investment funds Equity Domestic 628 0 628 2 667 0 667 3 Foreign 5,721 1,515 7,237 28 7,507 1,331 8,838 33 Bonds 1 Domestic, AAA to BBB– 2,570 0 2,570 10 2,279 0 2,279 9 Foreign, AAA to BBB– 6,194 0 6,194 24 6,375 0 6,375 24 Foreign, below BBB– 892 0 892 3 577 0 577 2 Real estate Foreign 0 11 11 0 0 23 23 0 Other 518 4,142 4,659 18 861 4,044 4,905 18 Other investments 531 18 549 2 0 12 12 0 Total fair value of plan assets 17,190 8,649 25,839 100 18,386 8,270 26,656 100 31.12.18 31.12.17 Total fair value of plan assets 25,839 26,656 of which: 2 Bank accounts at UBS 132 120 UBS debt instruments 13 3 UBS shares 25 34 Securities lent to UBS 3 1,567 2,030 Property occupied by UBS 88 85 Derivative financial instruments, counterparty UBS 3 34 23 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. 2 Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. 3 Securities lent to UBS and derivative financial instruments are presented gross of any collateral. Securities lent to UBS were fully covered by collateral as of 31 December 2018 and 31 December 2017. Net of collateral, derivative financial instruments amounted to USD 10 million as of 31 December 2018 (31 December 2017: USD 12 million). Composition and fair value of plan assets (continued) UK plan 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 143 0 143 5 163 0 163 5 Bonds 1 Domestic, AAA to BBB– 1,604 0 1,604 53 1,709 0 1,709 49 Domestic, below BBB– 0 0 0 0 1 0 1 0 Investment funds Equity Domestic 26 0 26 1 31 0 31 1 Foreign 658 0 658 22 1,046 0 1,046 30 Bonds 1 Domestic, AAA to BBB– 587 93 680 22 641 83 724 21 Domestic, below BBB– 15 0 15 0 21 0 21 1 Foreign, AAA to BBB– 258 0 258 9 147 0 147 4 Foreign, below BBB– 51 0 51 2 57 0 57 2 Real estate Domestic 102 28 131 4 103 28 131 4 Other 0 0 0 0 (4) 5 1 0 Asset-backed securities 21 2 22 1 0 0 0 0 Other investments 2 (565) 9 (556) (18) (575) 11 (563) (16) Total fair value of plan assets 2,900 132 3,032 100 3,341 127 3,469 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. 2 Mainly relates to repurchase arrangements on UK treasury bonds. Composition and fair value of plan assets (continued) US plans 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 27 0 27 2 76 0 76 6 Bonds 1 Domestic, AAA to BBB– 462 0 462 40 200 0 200 16 Domestic, below BBB– 2 0 2 0 10 0 10 1 Foreign, AAA to BBB– 92 0 92 8 46 0 46 4 Foreign, below BBB– 3 0 3 0 1 0 1 0 Investment funds Equity Domestic 143 0 143 12 298 0 298 24 Foreign 157 0 157 13 277 0 277 22 Bonds 1 Domestic, AAA to BBB– 104 0 104 9 216 0 216 17 Domestic, below BBB– 23 0 23 2 20 0 20 2 Foreign, AAA to BBB– 56 0 56 5 47 0 47 4 Foreign, below BBB– 6 0 6 1 5 0 5 0 Real estate Domestic 0 13 13 1 0 13 13 1 Other 64 0 64 5 21 0 21 2 Insurance contracts 0 17 17 1 0 18 18 1 Asset-backed securities 0 0 0 0 15 0 15 1 Other investments 0 0 0 0 4 0 4 0 Total fair value of plan assets 1,139 29 1,168 100 1,235 31 1,265 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. |
Major pension plans | Actuarial Assumption Of Mortality Rates [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of actuarial assumptions [text block] | Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.18 31.12.17 31.12.18 31.12.17 Switzerland BVG 2015 G with CMI 2016 projections 21.6 21.6 23.1 23.0 UK S2PA with CMI 2017 projections 1 23.4 23.4 24.6 24.6 USA RP2014 WCHA with MP2018 projection scale 2 22.8 22.8 24.3 24.4 Germany Dr. K. Heubeck 2018 G 3 20.5 20.3 23.3 22.9 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.18 31.12.17 31.12.18 31.12.17 Switzerland BVG 2015 G with CMI 2016 projections 23.5 23.4 25.0 24.9 UK S2PA with CMI 2017 projections 1 25.2 25.2 26.5 26.5 USA RP2014 WCHA with MP2018 projection scale 2 24.4 24.4 26.0 26.0 Germany Dr. K. Heubeck 2018 G 3 24.1 24.3 26.3 26.8 1 In 2017, the mortality table S2PA with CMI 2016 projections was used. 2 In 2017, the mortality table RP2014 WCHA with MP2017 projection scale was used. 3 In 2017, the mortality table Dr. K. Heubeck 2005 G was used. |
Post-employment medical insurance plans | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Post-employment medical insurance plans USD million UK plan US plans Total 2018 2017 2018 2017 2018 2017 Post-employment benefit obligation at the beginning of the year 27 26 61 64 88 90 Current service cost 0 0 0 0 0 0 Interest expense 1 1 2 2 3 3 Plan participant contributions 0 0 3 3 3 3 Remeasurements (3) (1) (4) 0 (7) (1) of which: actuarial (gains) / losses due to changes in demographic assumptions 0 0 0 0 0 (1) of which: actuarial (gains) / losses due to changes in financial assumptions (1) (1) (4) 2 (5) 2 of which: experience (gains) / losses 1 (2) 0 0 (2) (2) (2) Past service cost related to plan amendments 0 0 (14) 0 (14) 0 Benefit payments 2 (1) (1) (7) (8) (9) (9) Foreign currency translation (1) 2 0 0 (1) 2 Post-employment benefit obligation at the end of the year 22 27 40 61 62 88 of which: amounts owed to active members 6 6 0 0 6 6 of which: amounts owed to deferred members 0 0 0 0 0 0 of which: amounts owed to retirees 17 21 40 61 56 81 Fair value of plan assets at the end of the year 0 0 0 0 0 0 Net post-employment benefit asset / (liability) (22) (27) (40) (61) (62) (88) Analysis of amounts recognized in net profit Current service cost 0 0 0 0 0 0 Interest expense related to post-employment benefit obligation 1 1 2 2 3 3 Past service cost related to plan amendments 0 0 (14) 0 (14) 0 Net periodic expenses 1 1 (12) 2 (11) 3 Analysis of amounts recognized in other comprehensive income (OCI) Remeasurement of post-employment benefit obligation 3 1 4 0 7 1 Total gains / (losses) recognized in other comprehensive income, before tax 3 1 4 0 7 1 1 Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Benefit payments are funded by employer contributions and plan participant contributions. |
Disclosure of actuarial assumptions [text block] | Significant actuarial assumptions used 1 UK plan US plans 2 In % 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate 2.90 2.55 4.20 3.54 Average health care cost trend rate – initial 5.10 5.10 7.79 7.99 Average health care cost trend rate – ultimate 5.10 5.10 4.50 4.50 1 The assumptions for life expectancies are provided within Note 29a. 2 Represents weighted average assumptions across US plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in post-employment benefit obligation UK plan US plans USD million 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate Increase by 50 basis points (1) (2) (2) (3) Decrease by 50 basis points 1 2 2 3 Average health care cost trend rate Increase by 100 basis points 3 4 1 1 Decrease by 100 basis points (3) (3) 0 (1) Life expectancy Increase in longevity by one additional year 2 2 2 4 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
UBS AG | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of expenses on post-employment benefit [text block] | Income statement – expenses related to pension and other post-employment benefit plans USD million 31.12.18 31.12.17 31.12.16 Net periodic expenses for defined benefit plans 140 365 438 of which: related to major pension plans 1 141 354 417 of which: Swiss plan 2 108 307 386 of which: UK plan 11 15 (2) of which: US and German plans 22 31 34 of which: related to post-employment medical insurance plans 3 (11) 3 4 of which: UK plan 1 1 1 of which: US plans (12) 2 3 of which: related to remaining plans and other expenses 4 10 8 17 Expenses for defined contribution plans 5 223 236 238 of which: UK plans 35 65 78 of which: US plan 127 110 107 of which: remaining plans 61 61 53 Total pension and other post-employment benefit plan expenses 6 363 601 677 1 Refer to Note 29a for more information. 2 Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 132 million related to past service. Refer to Note 29a for more information on these changes. 3 Refer to Note 29b for more information. 4 Other expenses include differences between actual and estimated performance award accruals. 5 Refer to Note 29c for more information. 6 Refer to Note 6. |
Disclosure of Other comprehensive income gains/(losses) on defined benefit plans [text block] | Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.18 31.12.17 31.12.16 Major pension plans 1 (79) 276 (842) of which: Swiss plan (201) (56) (94) of which: UK plan 130 304 (623) of which: US and German plans (8) 28 (126) Post-employment medical insurance plans 2 7 1 (13) of which: UK plan 3 1 (5) of which: US plans 4 0 (7) Remaining plans 3 31 (26) Gains / (losses) recognized in other comprehensive income, before tax (70) 308 (880) Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 245 6 51 Gains / (losses) recognized in other comprehensive income, net of tax 3 175 314 (829) 1 Refer to Note 29a for more information. 2 Refer to Note 29b for more information. 3 Refer to the “Statement of comprehensive income.” |
Disclosure of net defined benefit liability [text block] | Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.18 31.12.17 Major pension plans 1 671 825 of which: Swiss plan 0 0 of which: UK plan 160 275 of which: US and German plans 2 511 550 Post-employment medical insurance plans 3 62 88 of which: UK plan 22 27 of which: US plans 40 61 Remaining plans 40 35 Total net defined benefit pension and post-employment liability 4 773 948 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). 3 Refer to Note 29b for more information. 4 Refer to Note 22. |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended USD million 31.12.18 31.12.17 31.12.16 Received by UBS AG Fees 22 36 36 Paid by UBS AG Rent 3 5 5 Dividends, capital repayments and interest 10 10 14 |
Disclosure of transaction volumes of UBS shares and UBS debt instruments [text block] | Transaction volumes – UBS Group AG shares and UBS AG debt instruments For the year ended 31.12.18 31.12.17 Financial instruments bought by pension funds UBS Group AG shares (in thousands of shares) 831 905 UBS AG debt instruments (par values, USD million) 9 2 Financial instruments sold by pension funds or matured UBS Group AG shares (in thousands of shares) 547 2,897 UBS AG debt instruments (par values, USD million) 2 4 UBS Group AG shares held by pension and other post-employment benefit plans 31.12.18 31.12.17 Number of shares (in thousands of shares) 15,934 16,370 Fair value (USD million) 197 301 |
UBS AG | Major pension plans | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Defined benefit pension plans USD million Swiss plan UK plan US and German plans Total 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit obligation at the beginning of the year 14,398 22,465 3,744 3,639 1,816 1,725 19,957 27,830 Current service cost 251 330 0 0 7 9 258 338 Interest expense 93 119 93 102 55 63 241 284 Plan participant contributions 137 157 0 0 0 0 137 157 Remeasurements (263) 47 (266) (88) (69) 82 (598) 40 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 4 (18) (82) (5) (5) (23) (84) of which: actuarial (gains) / losses due to changes in financial assumptions (391) 135 (257) 44 (69) 86 (716) 265 of which: experience (gains) / losses 1 128 (92) 8 (50) 5 2 142 (140) Past service cost related to plan amendments (132) 0 4 0 0 0 (128) 0 Curtailments (17) (28) 0 0 0 0 (17) (28) Benefit payments (586) (782) (202) (256) (112) (109) (900) (1,147) Other movements 2 0 (8,728) 0 0 0 0 0 (8,728) Foreign currency translation (108) 818 (181) 347 (18) 47 (307) 1,211 Defined benefit obligation at the end of the year 13,774 14,398 3,192 3,744 1,679 1,816 18,645 19,957 of which: amounts owed to active members 6,380 6,604 146 180 226 255 6,751 7,038 of which: amounts owed to deferred members 0 0 1,434 1,930 606 645 2,040 2,575 of which: amounts owed to retirees 7,394 7,794 1,612 1,634 847 916 9,854 10,344 Fair value of plan assets at the beginning of the year 16,388 24,184 3,469 3,120 1,265 1,124 21,122 28,428 Return on plan assets excluding amounts included in interest income (434) 1,003 (136) 215 (77) 110 (647) 1,329 Interest income 109 130 86 88 44 44 238 262 Employer contributions 308 356 0 0 51 100 360 456 Plan participant contributions 137 157 0 0 0 0 137 157 Benefit payments (586) (782) (202) (256) (112) (109) (900) (1,147) Administration expenses, taxes and premiums paid (7) (7) 0 0 (3) (4) (10) (12) Other movements 2 0 (9,541) 0 0 0 0 0 (9,541) Foreign currency translation (144) 889 (185) 302 0 0 (328) 1,191 Fair value of plan assets at the end of the year 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Asset ceiling effect at the beginning of the year 1,990 1,718 0 0 0 0 1,990 1,718 Interest expense on asset ceiling effect 14 9 0 0 0 0 14 9 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 30 1,013 0 0 0 0 30 1,013 Other movements 2 0 (821) 0 0 0 0 0 (821) Foreign currency translation (36) 71 0 0 0 0 (36) 71 Asset ceiling effect at the end of the year 1,998 1,990 0 0 0 0 1,998 1,990 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (275) (519) (550) (601) (825) (1,120) Net periodic expenses recognized in net profit (108) (307) (11) (15) (22) (31) (141) (354) Gains / (losses) recognized in other comprehensive income (201) (56) 130 304 (8) 28 (79) 276 Employer contributions 308 356 0 0 51 100 360 456 Other movements 0 8 0 0 0 0 0 8 Foreign currency translation 0 0 (4) (45) 18 (47) 14 (91) Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (160) (275) (511) (550) (671) (825) Funded and unfunded plans Defined benefit obligation from funded plans 13,774 14,398 3,192 3,744 1,219 1,324 18,184 19,466 Defined benefit obligation from unfunded plans 0 0 0 0 460 492 460 492 Plan assets 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Surplus / (deficit) 1,998 1,990 (160) (275) (511) (550) 1,327 1,165 Asset ceiling effect 1,998 1,990 0 0 0 0 1,998 1,990 Net defined benefit asset / (liability) 0 0 (160) (275) (511) (550) (671) (825) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Current service cost 251 330 0 0 7 9 258 338 Interest expense related to defined benefit obligation 93 119 93 102 55 63 241 284 Interest income related to plan assets (109) (130) (86) (88) (44) (44) (238) (262) Interest expense on asset ceiling effect 14 9 0 0 0 0 14 9 Administration expenses, taxes and premiums paid 7 7 0 0 3 4 10 12 Past service cost related to plan amendments (132) 0 4 0 0 0 (128) 0 Curtailments (17) (28) 0 0 0 0 (17) (28) Net periodic expenses recognized in net profit 108 307 11 15 22 31 141 354 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Remeasurement of defined benefit obligation 263 (47) 266 88 69 (82) 598 (40) Return on plan assets excluding amounts included in interest income (434) 1,003 (136) 215 (77) 110 (647) 1,329 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (30) (1,013) 0 0 0 0 (30) (1,013) Total gains / (losses) recognized in other comprehensive income, before tax (201) (56) 130 304 (8) 28 (79) 276 |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan UK plan US and German plans 1 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Duration of the defined benefit obligation (in years) 14.5 15.1 19.5 20.0 9.8 10.6 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 704 707 82 83 108 108 Benefits expected to be paid between 1 and 3 years 1,439 1,425 187 182 216 217 Benefits expected to be paid between 3 and 6 years 2,170 2,139 345 337 336 330 Benefits expected to be paid between 6 and 11 years 3,446 3,412 701 717 566 572 Benefits expected to be paid between 11 and 16 years 3,140 3,170 770 806 494 514 Benefits expected to be paid in more than 16 years 10,253 10,723 3,927 4,325 798 887 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. |
Disclosure of actuarial assumptions [text block] | Significant actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate 0.92 0.67 2.90 2.55 3.69 3.14 Rate of salary increase 1.50 1.30 0.00 0.00 2.81 2.83 Rate of pension increase 0.00 0.00 3.10 3.11 1.50 1.50 Rate of interest credit on retirement savings 0.92 0.67 0.00 0.00 3.70 2.56 1 Represents weighted average assumptions across US and German plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in defined benefit obligation Swiss plan UK plan US and German plans USD million 31.12.18 31.12.17 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate Increase by 50 basis points (797) (898) (292) (350) (77) (90) Decrease by 50 basis points 904 1,021 333 401 84 98 Rate of salary increase Increase by 50 basis points 45 61 – 2 – 2 1 1 Decrease by 50 basis points (43) (58) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 643 726 260 380 6 7 Decrease by 50 basis points – 3 – 3 (262) (336) (6) (7) Rate of interest credit on retirement savings Increase by 50 basis points 141 168 – 4 – 4 9 9 Decrease by 50 basis points (134) (159) – 4 – 4 (9) (9) Life expectancy Increase in longevity by one additional year 446 497 122 143 42 48 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. 2 As the plan is closed for future service, a change in assumption is not applicable. 3 As the assumed rate of pension increase was 0% as of 31 December 2018 and as of 31 December 2017, a downward change in assumption is not applicable. 4 As the UK plan does not provide interest credits on retirement savings, a change in assumption is not applicable. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 83 0 83 1 74 0 74 0 Real estate / property Domestic 0 1,808 1,808 11 0 1,758 1,758 11 Investment funds Equity Domestic 383 0 383 2 410 0 410 3 Foreign 3,492 925 4,417 28 4,615 818 5,433 33 Bonds 1 Domestic, AAA to BBB– 1,569 0 1,569 10 1,401 0 1,401 9 Foreign, AAA to BBB– 3,781 0 3,781 24 3,919 0 3,919 24 Foreign, below BBB– 544 0 544 3 355 0 355 2 Real estate Foreign 0 7 7 0 0 14 14 0 Other 316 2,528 2,844 18 529 2,486 3,016 18 Other investments 324 11 335 2 0 8 8 0 Total fair value of plan assets 10,493 5,279 15,772 100 11,304 5,084 16,388 100 31.12.18 31.12.17 Total fair value of plan assets 15,772 16,388 of which: 2 Bank accounts at UBS AG 80 120 UBS AG debt instruments 8 3 UBS Group AG shares 15 34 Securities lent to UBS AG 3 957 2,030 Property occupied by UBS AG 54 85 Derivative financial instruments, counterparty UBS AG 3 21 23 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. 2 Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. 3 Securities lent to UBS AG and derivative financial instruments are presented gross of any collateral. Securities lent to UBS AG were fully covered by collateral as of 31 December 2018 and 31 December 2017. Net of collateral, derivative financial instruments amounted to USD 6 million as of 31 December 2018 (31 December 2017: USD 12 million). Composition and fair value of plan assets (continued) UK plan 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 143 0 143 5 163 0 163 5 Bonds 1 Domestic, AAA to BBB– 1,604 0 1,604 53 1,709 0 1,709 49 Domestic, below BBB– 0 0 0 0 1 0 1 0 Investment funds Equity Domestic 26 0 26 1 31 0 31 1 Foreign 658 0 658 22 1,046 0 1,046 30 Bonds 1 Domestic, AAA to BBB– 587 93 680 22 641 83 724 21 Domestic, below BBB– 15 0 15 0 21 0 21 1 Foreign, AAA to BBB– 258 0 258 9 147 0 147 4 Foreign, below BBB– 51 0 51 2 57 0 57 2 Real estate Domestic 102 28 131 4 103 28 131 4 Other 0 0 0 0 (4) 5 1 0 Asset-backed securities 21 2 22 1 0 0 0 0 Other investments 2 (565) 9 (556) (18) (575) 11 (563) (16) Total fair value of plan assets 2,900 132 3,032 100 3,341 127 3,469 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. 2 Mainly relates to repurchase arrangements on UK treasury bonds. Composition and fair value of plan assets (continued) US plans 31.12.18 31.12.17 Fair value Plan asset allocation % Fair value Plan asset allocation % USD million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 27 0 27 2 76 0 76 6 Bonds 1 Domestic, AAA to BBB– 462 0 462 40 200 0 200 16 Domestic, below BBB– 2 0 2 0 10 0 10 1 Foreign, AAA to BBB– 92 0 92 8 46 0 46 4 Foreign, below BBB– 3 0 3 0 1 0 1 0 Investment funds Equity Domestic 143 0 143 12 298 0 298 24 Foreign 157 0 157 13 277 0 277 22 Bonds 1 Domestic, AAA to BBB– 104 0 104 9 216 0 216 17 Domestic, below BBB– 23 0 23 2 20 0 20 2 Foreign, AAA to BBB– 56 0 56 5 47 0 47 4 Foreign, below BBB– 6 0 6 1 5 0 5 0 Real estate Domestic 0 13 13 1 0 13 13 1 Other 64 0 64 5 21 0 21 2 Insurance contracts 0 17 17 1 0 18 18 1 Asset-backed securities 0 0 0 0 15 0 15 1 Other investments 0 0 0 0 4 0 4 0 Total fair value of plan assets 1,139 29 1,168 100 1,235 31 1,265 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification. |
UBS AG | Major pension plans | Actuarial Assumption Of Mortality Rates [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of actuarial assumptions [text block] | Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.18 31.12.17 31.12.18 31.12.17 Switzerland BVG 2015 G with CMI 2016 projections 21.6 21.6 23.1 23.0 UK S2PA with CMI 2017 projections 1 23.4 23.4 24.6 24.6 USA RP2014 WCHA with MP2018 projection scale 2 22.8 22.8 24.3 24.4 Germany Dr. K. Heubeck 2018 G 3 20.5 20.3 23.3 22.9 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.18 31.12.17 31.12.18 31.12.17 Switzerland BVG 2015 G with CMI 2016 projections 23.5 23.4 25.0 24.9 UK S2PA with CMI 2017 projections 1 25.2 25.2 26.5 26.5 USA RP2014 WCHA with MP2018 projection scale 2 24.4 24.4 26.0 26.0 Germany Dr. K. Heubeck 2018 G 3 24.1 24.3 26.3 26.8 1 In 2017, the mortality table S2PA with CMI 2016 projections was used. 2 In 2017, the mortality table RP2014 WCHA with MP2017 projection scale was used. 3 In 2017, the mortality table Dr. K. Heubeck 2005 G was used. |
UBS AG | Post-employment medical insurance plans | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Post-employment medical insurance plans USD million UK plan US plans Total 2018 2017 2018 2017 2018 2017 Post-employment benefit obligation at the beginning of the year 27 26 61 64 88 90 Current service cost 0 0 0 0 0 0 Interest expense 1 1 2 2 3 3 Plan participant contributions 0 0 3 3 3 3 Remeasurements (3) (1) (4) 0 (7) (1) of which: actuarial (gains) / losses due to changes in demographic assumptions 0 0 0 0 0 (1) of which: actuarial (gains) / losses due to changes in financial assumptions (1) (1) (4) 2 (5) 2 of which: experience (gains) / losses 1 (2) 0 0 (2) (2) (2) Past service cost related to plan amendments 0 0 (14) 0 (14) 0 Benefit payments 2 (1) (1) (7) (8) (9) (9) Foreign currency translation (1) 2 0 0 (1) 2 Post-employment benefit obligation at the end of the year 22 27 40 61 62 88 of which: amounts owed to active members 6 6 0 0 6 6 of which: amounts owed to deferred members 0 0 0 0 0 0 of which: amounts owed to retirees 17 21 40 61 56 81 Fair value of plan assets at the end of the year 0 0 0 0 0 0 Net post-employment benefit asset / (liability) (22) (27) (40) (61) (62) (88) Analysis of amounts recognized in net profit Current service cost 0 0 0 0 0 0 Interest expense related to post-employment benefit obligation 1 1 2 2 3 3 Past service cost related to plan amendments 0 0 (14) 0 (14) 0 Net periodic expenses 1 1 (12) 2 (11) 3 Analysis of amounts recognized in other comprehensive income (OCI) Remeasurement of post-employment benefit obligation 3 1 4 0 7 1 Total gains / (losses) recognized in other comprehensive income, before tax 3 1 4 0 7 1 1 Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Benefit payments are funded by employer contributions and plan participant contributions. |
Disclosure of actuarial assumptions [text block] | Significant actuarial assumptions used 1 UK plan US plans 2 In % 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate 2.90 2.55 4.20 3.54 Average health care cost trend rate – initial 5.10 5.10 7.79 7.99 Average health care cost trend rate – ultimate 5.10 5.10 4.50 4.50 1 The assumptions for life expectancies are provided within Note 29a. 2 Represents weighted average assumptions across US plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in post-employment benefit obligation UK plan US plans USD million 31.12.18 31.12.17 31.12.18 31.12.17 Discount rate Increase by 50 basis points (1) (2) (2) (3) Decrease by 50 basis points 1 2 2 3 Average health care cost trend rate Increase by 100 basis points 3 4 1 1 Decrease by 100 basis points (3) (3) 0 (1) Life expectancy Increase in longevity by one additional year 2 2 2 4 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
Employee benefits_ variable c_2
Employee benefits: variable compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Equity Participation And Other Compensation Plans [Line Items] | |
Disclosure of compensation-related personnel expenses [text block] | Variable compensation including financial advisor variable compensation Expenses recognized in 2018 Expenses deferred to 2019 and later USD million Related to the performance year 2018 Related to prior performance years Total Related to the performance year 2018 Related to prior performance years Total Non-deferred cash 2,089 (32) 2,057 0 0 0 Deferred compensation awards 373 565 938 585 653 1,238 of which: Equity Ownership Plan 217 309 526 325 244 570 of which: Deferred Contingent Capital Plan 131 226 357 238 382 620 of which: Asset Management EOP 25 28 53 22 26 48 of which: Other performance awards 0 2 2 0 1 1 Total variable compensation – performance awards 2,461 534 2,995 585 653 1,238 Replacement payments 7 64 72 60 41 102 Forfeiture credits 0 (136) (136) 0 0 0 Severance payments 123 0 123 0 0 0 Retention plan and other payments 33 33 66 24 33 57 Deferred Contingent Capital Plan: interest expense 0 119 119 96 195 291 Total variable compensation – other 162 80 243 180 269 450 Financial advisor variable compensation 3,233 237 3,470 128 639 767 of which: non-deferred cash 3,089 0 3,089 0 0 0 of which: deferred share-based awards 51 44 95 52 131 183 of which: deferred cash-based awards 93 193 286 76 507 584 Compensation commitments with recruited financial advisors 1 33 551 584 357 1,883 2,240 Total financial advisor variable compensation 3,266 789 4,054 484 2,522 3,006 Total variable compensation including FA variable compensation 5,889 1,403 7,292 2 1,250 3,444 4,694 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 634 million in expenses related to share-based compensation (performance awards: USD 526 million; other variable compensation: USD 12 million; financial advisor compensation: USD 95 million). A further USD 49 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 8 million; Other personnel expenses: USD 26 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 676 million. Variable compensation including financial advisor variable compensation Expenses recognized in 2017 Expenses deferred to 2018 and later USD million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 2,088 (25) 2,062 0 0 0 Deferred compensation awards 399 689 1,088 594 697 1,291 of which: Equity Ownership Plan 239 344 583 329 291 620 of which: Deferred Contingent Capital Plan 135 310 444 238 376 614 of which: Asset Management EOP 25 32 57 27 27 54 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,487 664 3,151 594 697 1,291 Replacement payments 13 59 72 86 44 130 Forfeiture credits 0 (107) (107) 0 0 0 Severance payments 113 0 113 0 0 0 Retention plan and other payments 25 38 63 30 33 63 Deferred Contingent Capital Plan: interest expense 0 111 111 80 222 301 Total variable compensation – other 151 101 252 196 298 494 Financial advisor variable compensation 3,050 260 3,310 156 795 951 of which: non-deferred cash 2,891 0 2,891 0 0 0 of which: deferred share-based awards 54 48 102 70 121 191 of which: deferred cash-based awards 104 212 316 86 674 760 Compensation commitments with recruited financial advisors 1 31 723 754 369 2,058 2,428 Total financial advisor variable compensation 3,080 984 4,064 526 2,853 3,379 Total variable compensation including FA variable compensation 5,718 1,749 7,467 2 1,316 3,848 5,164 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 711 million in expenses related to share-based compensation (performance awards: USD 583 million; other variable compensation: USD 26 million; financial advisor compensation: USD 102 million). A further USD 101 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 51 million; Other personnel expenses: USD 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 735 million. Variable compensation including financial advisor variable compensation Expenses recognized in 2016 Expenses deferred to 2017 and later USD million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,842 (43) 1,799 0 0 0 Deferred compensation awards 379 835 1,215 677 841 1,518 of which: Equity Ownership Plan 217 491 708 511 349 861 of which: Deferred Contingent Capital Plan 136 299 435 132 460 593 of which: Asset Management EOP 26 39 66 34 26 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,221 792 3,013 677 841 1,518 Replacement payments 25 62 87 40 30 70 Forfeiture credits 0 (74) (74) 0 0 0 Severance payments 220 0 220 0 0 0 Retention plan and other payments 26 50 76 23 26 50 Deferred Contingent Capital Plan: interest expense 0 115 115 96 239 335 Total variable compensation – other 272 153 425 159 296 455 Financial advisor variable compensation 2,682 250 2,931 194 877 1,071 of which: non-deferred cash 2,534 0 2,534 0 0 0 of which: deferred share-based awards 34 49 82 57 117 174 of which: deferred cash-based awards 114 201 315 137 760 897 Compensation commitments with recruited financial advisors 1 43 765 808 596 2,084 2,679 Total financial advisor variable compensation 2,725 1,015 3,740 790 2,961 3,750 Total variable compensation including FA variable compensation 5,218 1,960 7,178 2 1,626 4,097 5,723 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 831 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 41 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 872 million. |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share and performance share awards granted under the EOP Number of shares 2018 Weighted average grant date fair value (USD) Number of shares 2017 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 162,835,713 15 165,626,088 16 Shares awarded during the year 58,329,398 17 63,872,651 15 Distributions during the year (67,696,099) 15 (58,756,089) 16 Forfeited during the year (6,623,984) 16 (7,906,936) 15 Outstanding, at the end of the year 146,845,027 16 162,835,713 15 of which: shares vested for accounting purposes 66,850,562 74,883,139 |
Disclosure of number and weighted average exercise prices of UBS option awards [text block] | Movements in outstanding option awards Number of options 2018 Weighted average exercise price (CHF) Number of options 2017 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 32,583,168 25 55,913,291 39 Exercised during the year 1 (1,813,583) 12 (1,632,319) 12 Forfeited during the year (19,752) 23 (38,995) 27 Expired unexercised (24,182,241) 29 (21,658,809) 61 Outstanding, at the end of the year 6,567,592 14 32,583,168 25 Exercisable, at the end of the year 6,567,592 14 32,583,168 25 1 The weighted average share price upon option exercise was CHF 16.22 in 2018 (2017: CHF 16.73), resulting in an intrinsic value of CHF 7 million of options exercised during 2018 (2017: CHF 8 million). |
Disclosure of range of exercise prices of outstanding share options [text block] | Options outstanding Range of exercise prices Number of options outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 10.21–15.00 3,294,894 10.27 6.5 0.2 15.01–25.00 3,272,698 16.95 0.0 0.6 10.21–25.00 6,567,592 6.5 |
Disclosure of number and weighted average exercise prices of SARs [text block] | Movements in outstanding SAR awards Number of SARs 2018 Weighted average exercise price (CHF) Number of SARs 2017 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 8,513,415 12 10,807,315 12 Exercised during the year 1 (2,490,146) 11 (2,212,700) 11 Forfeited during the year (11,000) 13 (23,000) 11 Expired unexercised (46,500) 12 (58,200) 13 Outstanding, at the end of the year 5,965,769 12 8,513,415 12 Exercisable, at the end of the year 5,965,769 12 8,513,415 12 1 The weighted average share price upon exercise of SARs was CHF 16.15 in 2018 (2017: CHF 16.70), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2018 (2017: CHF 12 million). |
Disclosure Of Range Of Exercise Prices Of Outstanding SARs Explanatory | SARs outstanding Range of exercise prices Number of SARs outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 11.12–12.50 5,633,269 11.34 5.1 0.2 12.51–15.00 2,500 14.85 0.0 0.4 15.01–17.50 42,000 16.80 0.0 0.4 17.51–20.00 288,000 19.25 0.0 0.7 11.12–20.00 5,965,769 5.1 |
UBS AG | |
Disclosure Of Equity Participation And Other Compensation Plans [Line Items] | |
Disclosure of compensation-related personnel expenses [text block] | Variable compensation including financial advisor variable compensation Expenses recognized in 2018 Expenses deferred to 2019 and later USD million Related to the performance year 2018 Related to prior performance years Total Related to the performance year 2018 Related to prior performance years Total Non-deferred cash 1,896 (26) 1,870 0 0 0 Deferred compensation awards 360 564 924 570 638 1,208 of which: Equity Ownership Plan 208 299 507 316 238 554 of which: Deferred Contingent Capital Plan 126 235 361 232 373 605 of which: Asset Management EOP 25 28 53 22 26 48 of which: Other performance awards 0 2 2 0 1 1 Total variable compensation – performance awards 2,256 538 2,794 570 638 1,208 Replacement payments 7 61 68 58 40 99 Forfeiture credits 0 (136) (136) 0 0 0 Severance payments 106 0 106 0 0 0 Retention plan and other payments 31 33 64 23 33 56 Deferred Contingent Capital Plan: interest expense 0 116 116 96 191 288 Total variable compensation – other 144 75 220 178 264 442 Financial advisor variable compensation 3,233 237 3,470 128 639 767 of which: non-deferred cash 3,089 0 3,089 0 0 0 of which: deferred share-based awards 51 44 95 52 131 183 of which: deferred cash-based awards 93 193 286 76 507 584 Compensation commitments with recruited financial advisors 1 33 551 584 357 1,883 2,240 Total financial advisor variable compensation 3,266 789 4,054 484 2,522 3,006 Total variable compensation including FA variable compensation 5,666 1,402 7,068 2 1,233 3,424 4,656 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 612 million in expenses related to share-based compensation (performance awards: USD 507 million; other variable compensation: USD 10 million; financial advisor compensation: USD 95 million). A further USD 44 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 7 million; Other personnel expenses: USD 22 million, related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation Expenses recognized in 2017 Expenses deferred to 2018 and later USD million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 1,982 (24) 1,958 0 0 0 Deferred compensation awards 392 704 1,096 589 685 1,274 of which: Equity Ownership Plan 235 364 599 322 286 608 of which: Deferred Contingent Capital Plan 132 304 436 240 369 609 of which: Asset Management EOP 25 32 57 27 27 54 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,373 680 3,054 589 685 1,274 Replacement payments 12 58 70 82 41 123 Forfeiture credits 0 (106) (106) 0 0 0 Severance payments 95 0 95 0 0 0 Retention plan and other payments 24 38 62 30 32 62 Deferred Contingent Capital Plan: interest expense 0 110 110 80 218 297 Total variable compensation – other 131 99 231 191 291 482 Financial advisor variable compensation 3,050 260 3,310 156 795 951 of which: non-deferred cash 2,891 0 2,891 0 0 0 of which: deferred share-based awards 54 48 102 70 121 191 of which: deferred cash-based awards 104 212 316 86 674 760 Compensation commitments with recruited financial advisors 1 31 723 754 369 2,058 2,429 Total financial advisor variable compensation 3,080 984 4,064 526 2,853 3,379 Total variable compensation including FA variable compensation 5,585 1,764 7,349 2 1,306 3,829 5,135 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 726 million in expenses related to share-based compensation (performance awards: USD 599 million; other variable compensation: USD 25 million; financial advisor compensation: USD 102 million). A further USD 97 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 49 million; Other personnel expenses: USD 23 million, related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation Expenses recognized in 2016 Expenses deferred to 2017 and later USD million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,833 (42) 1,791 0 0 0 Deferred compensation awards 379 835 1,214 646 840 1,486 of which: Equity Ownership Plan 217 491 708 256 349 605 of which: Deferred Contingent Capital Plan 136 299 435 358 460 818 of which: Asset Management EOP 26 39 66 32 26 58 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,212 793 3,005 646 840 1,486 Replacement payments 25 62 87 40 30 70 Forfeiture credits 0 (74) (74) 0 0 0 Severance payments 220 0 220 0 0 0 Retention plan and other payments 26 51 78 23 26 50 Deferred Contingent Capital Plan: interest expense 0 113 113 96 239 335 Total variable compensation – other 271 153 425 159 296 455 Financial advisor variable compensation 2,682 250 2,931 194 877 1,071 of which: non-deferred cash 2,534 0 2,534 0 0 0 of which: deferred share-based awards 34 49 82 57 117 174 of which: deferred cash-based awards 114 201 315 137 760 897 Compensation commitments with recruited financial advisors 1 43 765 808 596 2,084 2,679 Total financial advisor variable compensation 2,725 1,015 3,740 790 2,961 3,750 Total variable compensation including FA variable compensation 5,208 1,961 7,170 2 1,595 4,096 5,691 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes USD 830 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 40 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share and performance share awards granted under the EOP Number of shares 2018 Weighted average grant date fair value (USD) Number of shares 2017 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 404,720 15 512,185 16 Shares awarded during the year 26,005 13 117,082 14 Distributions during the year (228,932) 15 (212,984) 17 Forfeited during the year 0 0 (11,563) 15 Outstanding, at the end of the year 201,793 15 404,720 15 of which: shares vested for accounting purposes 133,225 132,117 |
Interests in subsidiaries (Tabl
Interests in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Subsidiaries of UBS Group AG as of 31 December 2018 Company Registered office Share capital in million Equity interest accumulated in % UBS AG Zurich and Basel, Switzerland CHF 385.8 100.0 UBS Business Solutions AG 1 Zurich, Switzerland CHF 1.0 100.0 UBS Group Funding (Switzerland) AG Zurich, Switzerland CHF 0.1 100.0 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2018 1 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 2 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Global Wealth Management USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Global Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 3 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Includes direct and indirect subsidiaries of UBS AG. 2 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 3 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
UBS AG Subsidiaries | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Other subsidiaries of UBS AG as of 31 December 2018 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 254.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Credit Corp. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS (France) S.A. Paris, France Global Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Global Wealth Management EUR 49.2 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. |
UBS AG | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Individually significant subsidiaries as of 31 December 2018 1 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 2 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Global Wealth Management USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Global Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 3 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Includes direct and indirect subsidiaries of UBS AG. 2 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 3 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
UBS AG | UBS AG Subsidiaries | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Other subsidiaries as of 31 December 2018 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 254.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Credit Corp. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS (France) S.A. Paris, France Global Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Global Wealth Management USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Global Wealth Management EUR 49.2 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. |
Interests in associates and j_2
Interests in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of investments in associates and joint ventures [text block] | Investments in associates and joint ventures USD million 2018 2017 Carrying amount at the beginning of the year 1,045 947 Additions 3 3 Disposals 1 (431) 0 Reclassifications 2 (21) 0 Share of comprehensive income 529 100 of which: share of net profit 3 529 76 of which: share of other comprehensive income 4 1 24 Dividends received (42) (53) Impairment (7) Foreign currency translation 16 55 Carrying amount at the end of the year 1,099 1,045 of which: associates 1,066 1,014 of which: UBS Securities China 1 412 of which: SIX Group AG, Zurich 5 952 476 of which: other associates 114 127 of which: joint ventures 33 30 1 In December 2018, UBS increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance with IFRS 10, Consolidated Financial Statements. Upon acquisition of control, UBS derecognized its former investment in associate. Refer to Note 32 for more information. 2 Reflects reclassifications to Properties and other non-current assets held for sale. 3 For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. 4 For 2018, the total of USD 1 million is from associates. For 2017, consists of USD 24 million from associates and negative USD 1 million from joint ventures. 5 In 2018, UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
UBS AG | |
Disclosure Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of investments in associates and joint ventures [text block] | Investments in associates and joint ventures USD million 31.12.18 31.12.17 Carrying amount at the beginning of the year 1,045 947 Additions 3 3 Disposals 1 (431) 0 Reclassifications 2 (21) 0 Share of comprehensive income 529 100 of which: share of net profit 3 529 76 of which: share of other comprehensive income 4 1 24 Dividends received (42) (53) Impairment 0 (7) Foreign currency translation 16 55 Carrying amount at the end of the year 1,099 1,045 of which: associates 1,066 1,014 of which: UBS Securities China 1 0 412 of which: SIX Group AG, Zurich 5 952 476 of which: other associates 114 127 of which: joint ventures 33 30 1 In December 2018, UBS AG increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance with IFRS 10, Consolidated Financial Statements. Upon acquisition of control, UBS AG derecognized its former investment in associate. Refer to Note 32 for more information. 2 Reflects reclassifications to Properties and other non-current assets held for sale. 3 For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. 4 For 2018, the total of USD 1 million is from associates. For 2017, consists of USD 24 million from associates and negative USD 1 million from joint ventures. 5 In 2018, UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in unconsolidated s_2
Interests in unconsolidated structured entities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated structured entities 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 420 174 7,297 7,890 7,890 Derivative financial instruments 8 35 1 44 44 Loans and advances to customers 179 179 179 Financial assets at fair value not held for trading 87 48 2 166 3 302 1,878 Financial assets measured at fair value through other comprehensive income 3,931 3,931 3,931 Other financial assets measured at amortized cost 312 25 2 337 1,423 Total assets 826 4 4,212 7,643 12,682 Derivative financial instruments 3 5 123 32 158 3 Total liabilities 3 123 32 158 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 63 6 69 7 385 8 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 373 316 6,302 6,991 6,991 Derivative financial instruments 22 70 23 114 114 Loans and advances to customers 100 100 100 Financial assets at fair value not held for trading 86 68 2 108 262 1,826 Financial assets measured at fair value through other comprehensive income 3,965 46 3 4,011 4,011 Other financial assets measured at amortized cost 299 30 2 328 1,443 Total assets 779 4 4,449 6,578 11,806 Derivative financial instruments 21 5 54 208 283 14 Total liabilities 21 54 208 283 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 9 58 6 80 7 422 8 1 For the purpose of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 Upon adoption of IFRS 9 on 1 January 2018, investment fund units that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 0.6 billion of the USD 0.8 billion (31 December 2017: USD 0.7 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 5 Comprised of credit default swap liabilities and other swap liabilities. The maximum exposure to loss for credit default swap liabilities is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 6 Represents the principal amount outstanding. 7 Represents the market value of total assets. 8 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. 9 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated structured entities at 31 December 2017 would have been USD 0.3 million and USD 0.2 million lower for securitization vehicles and client vehicles, respectively. Assets held by the unconsolidated structured entities in which UBS had an interest at 31 December 2017 would have been USD 26 billion lower for securitization vehicles and USD 22 billion lower for client vehicles. |
Sponsored by UBS | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated securitization vehicles 1 31.12.18 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 87 196 8 291 of which: rated investment grade 196 196 of which: rated sub-investment grade 87 8 95 of which: not rated 0 0 Interests in mezzanine tranches 13 13 of which: rated investment grade 12 12 of which: not rated 0 0 Interests in junior tranches 8 1 9 of which: not rated 8 1 9 Total 95 210 8 313 of which: financial assets at fair value held for trading 8 210 8 226 of which: financial assets at fair value not held for trading 87 87 Total assets held by the vehicles in which UBS had an interest (USD billion) 0 24 1 25 Not sponsored by UBS Interests in senior tranches 1 33 25 126 185 of which: rated investment grade 1 33 0 126 160 of which: not rated 0 25 25 Interests in mezzanine tranches 1 7 8 of which: rated investment grade 2 2 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 of which: not rated 0 5 5 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 Total 3 41 25 126 194 of which: financial assets at fair value held for trading 3 41 25 126 194 Total assets held by the vehicles in which UBS had an interest (USD billion) 2 12 22 1 37 Interests in unconsolidated securitization vehicles (continued) 1 31.12.17 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 86 24 0 11 121 of which: rated investment grade 0 24 0 24 of which: rated sub-investment grade 86 86 of which: defaulted 11 11 Interests in junior tranches 9 9 of which: rated investment grade 9 9 Total 86 33 0 11 130 of which: financial assets at fair value held for trading 33 0 11 44 of which: financial assets at fair value not held for trading 86 86 Total assets held by the vehicles in which UBS had an interest (USD billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 77 7 169 66 319 of which: rated investment grade 77 7 169 66 319 Interests in mezzanine tranches 9 1 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 87 7 169 66 330 of which: financial assets at fair value held for trading 87 7 169 66 330 Total assets held by the vehicles in which UBS had an interest (USD billion) 4 19 5 20 0 44 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. 4 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated securitization vehicles at 31 December 2017 would have been USD 0.3 million lower and the assets held by these unconsolidated securitization vehicles would have been USD 26 billion lower. |
Sponsored by UBS | in which UBS did not have an interest at year-end | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 0 (6) 1 (5) Net fee and commission income 16 39 54 Other net income from fair value changes on financial instruments 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 2 2 3 18 4 As of or for the year ended 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 41 41 Other net income from fair value changes on financial instruments (8) (50) 2 (56) Total income (6) (59) 43 (22) Asset information (USD billion) 10 2 4 3 15 4 1 For the year ended 31 December 2018, no profit attributable to non-controlling interests was excluded from the table (31 December 2017: USD 73 million). 2 Represents the amount of assets transferred to the respective securitization vehicles. 3 Represents the amount of assets transferred to the respective client vehicles. Information in the comparative period has been restated. Asset information as of 31 December 2017 has decreased by USD 3 billion as a result. 4 Represents the total net asset value of the respective investment funds. |
UBS AG | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated structured entities 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 420 174 7,297 7,890 7,890 Derivative financial instruments 8 35 1 44 44 Loans and advances to customers 179 179 179 Financial assets at fair value not held for trading 87 48 2 85 3 220 1,796 Financial assets measured at fair value through other comprehensive income 3,931 3,931 3,931 Other financial assets measured at amortized cost 312 25 2 337 1,423 Total assets 826 4 4,212 7,562 12,600 Derivative financial instruments 3 5 123 32 158 3 Total liabilities 3 123 32 158 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 63 6 69 7 385 8 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Financial assets at fair value held for trading 373 316 6,302 6,991 6,991 Derivative financial instruments 22 70 23 114 114 Loans and advances to customers 100 100 100 Financial assets at fair value not held for trading 86 68 2 154 1,718 Financial assets measured at fair value through other comprehensive income 3,965 46 3 4,011 4,011 Other financial assets measured at amortized cost 299 30 2 328 1,443 Total assets 779 4 4,449 6,470 11,698 Derivative financial instruments 21 5 54 208 283 14 Total liabilities 21 54 208 283 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 9 58 6 80 7 422 8 1 For the purpose of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 Upon adoption of IFRS 9 on 1 January 2018, investment fund units that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. 4 As of 31 December 2018, USD 0.6 billion of the USD 0.8 billion (31 December 2017: USD 0.7 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 5 Comprised of credit default swap liabilities and other swap liabilities. The maximum exposure to loss for credit default swap liabilities is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 6 Represents the principal amount outstanding. 7 Represents the market value of total assets. 8 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. 9 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated structured entities at 31 December 2017 would have been USD 0.3 million and USD 0.2 million lower for securitization vehicles and client vehicles, respectively. Assets held by the unconsolidated structured entities in which UBS had an interest at 31 December 2017 would have been USD 26 billion lower for securitization vehicles and USD 22 billion lower for client vehicles. |
UBS AG | Sponsored by UBS | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated securitization vehicles 1 31.12.18 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 87 196 8 291 of which: rated investment grade 196 196 of which: rated sub-investment grade 87 8 95 of which: not rated 0 0 Interests in mezzanine tranches 13 13 of which: rated investment grade 12 12 of which: not rated 0 0 Interests in junior tranches 8 1 9 of which: not rated 8 1 9 Total 95 210 8 313 of which: financial assets at fair value held for trading 8 210 8 226 of which: financial assets at fair value not held for trading 87 87 Total assets held by the vehicles in which UBS had an interest (USD billion) 0 24 1 25 Not sponsored by UBS Interests in senior tranches 1 33 25 126 185 of which: rated investment grade 1 33 0 126 160 of which: not rated 0 25 25 Interests in mezzanine tranches 1 7 8 of which: rated investment grade 2 2 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 of which: not rated 0 5 5 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 of which: defaulted 0 0 Total 3 41 25 126 194 of which: financial assets at fair value held for trading 3 41 25 126 194 Total assets held by the vehicles in which UBS had an interest (USD billion) 2 12 22 1 37 Interests in unconsolidated securitization vehicles (continued) 1 31.12.17 USD million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 86 24 0 11 121 of which: rated investment grade 0 24 0 24 of which: rated sub-investment grade 86 86 of which: defaulted 11 11 Interests in junior tranches 9 9 of which: rated investment grade 9 9 Total 86 33 0 11 130 of which: financial assets at fair value held for trading 33 0 11 44 of which: financial assets at fair value not held for trading 86 86 Total assets held by the vehicles in which UBS had an interest (USD billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 77 7 169 66 319 of which: rated investment grade 77 7 169 66 319 Interests in mezzanine tranches 9 1 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 87 7 169 66 330 of which: financial assets at fair value held for trading 87 7 169 66 330 Total assets held by the vehicles in which UBS had an interest (USD billion) 4 19 5 20 0 44 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. 4 In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated securitization vehicles at 31 December 2017 would have been USD 0.3 million lower and the assets held by these unconsolidated securitization vehicles would have been USD 26 billion lower. |
UBS AG | Sponsored by UBS | in which UBS did not have an interest at year-end | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.18 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 0 (6) 1 (5) Net fee and commission income 16 39 54 Other net income from fair value changes on financial instruments 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 2 2 3 18 4 As of or for the year ended 31.12.17 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 41 41 Other net income from fair value changes on financial instruments (8) (50) 2 (56) Total income (6) (59) 43 (22) Asset information (USD billion) 10 2 4 3 15 4 1 For the year ended 31 December 2018, no profit attributable to non-controlling interests was excluded from the table (31 December 2017: USD 73 million). 2 Represents the amount of assets transferred to the respective securitization vehicles. 3 Represents the amount of assets transferred to the respective client vehicles. Information in the comparative period has been restated. Asset information as of 31 December 2017 has decreased by USD 3 billion as a result. 4 Represents the total net asset value of the respective investment funds. |
Operating leases and finance _2
Operating leases and finance leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Leases And Finance Leases Table [Line Items] | |
Disclosure Of Finance Lease And Operating Lease By Lessee Explanatory | USD million 31.12.18 Expenses for operating leases to be recognized in: 2019 684 2020 647 2021 543 2022 489 2023 449 2024 and thereafter 1,877 Subtotal commitments for minimum payments under operating leases 4,688 Less: Sublease rental income commitments 250 Net commitments for minimum payments under operating leases 4,438 |
Disclosure Of Operating Lease Expense Explanatory | USD million 31.12.18 31.12.17 31.12.16 Gross operating lease expense recognized in the income statement 766 739 757 Sublease rental income 52 68 79 Net operating lease expense recognized in the income statement 714 671 678 |
Disclosure Of Finance Lease And Operating Lease By Lessor Explanatory | Lease receivables USD million 31.12.18 Total minimum lease payments Unearned finance income Present value 2019 359 22 337 2020–2023 703 35 669 Thereafter 103 2 102 Total 1,166 58 1,107 |
UBS AG | |
Disclosure Of Operating Leases And Finance Leases Table [Line Items] | |
Disclosure Of Finance Lease And Operating Lease By Lessee Explanatory | USD million 31.12.18 Expenses for operating leases to be recognized in: 2019 658 2020 622 2021 528 2022 474 2023 434 2024 and thereafter 1,830 Subtotal commitments for minimum payments under operating leases 4,546 Less: Sublease rental income commitments 250 Net commitments for minimum payments under operating leases 4,296 |
Disclosure Of Operating Lease Expense Explanatory | USD million 31.12.18 31.12.17 31.12.16 Gross operating lease expense recognized in the income statement 663 697 745 Sublease rental income 52 68 79 Net operating lease expense recognized in the income statement 611 629 666 |
Disclosure Of Finance Lease And Operating Lease By Lessor Explanatory | Lease receivables USD million 31.12.18 Total minimum lease payments Unearned finance income Present value 2019 359 22 337 2020–2023 703 35 669 Thereafter 103 2 102 Total 1,166 58 1,107 |
Guarantees, commitments and f_2
Guarantees, commitments and forward starting transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,868 16,666 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,602 23,602 0 0 0 0 0 0 Loans and advances to customers 320,352 298,248 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,563 21,862 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 587,104 564,096 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 593,770 570,763 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,634 35,121 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 90,268 86,830 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,074 14,055 19 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 318,480 288,420 28,531 1,529 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,554 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 29 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 572 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 601 (295) (8) (24) (262) of which: Lombard 114,638 114,621 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,775 18,265 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,165 2,949 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 552,277 521,689 28,582 2,006 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 559,208 528,619 28,582 2,006 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 26 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,184 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,423 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 34 Guarantees, commitments and forward starting transactions The table below shows the maximum irrevocable amount of guarantees, commitments and forward starting transactions. USD million 31.12.18 31.12.17 Gross Sub- partici- pations Net Gross Sub- partici- pations Net Measured at fair value Not measured at fair value Measured at fair value Not measured at fair value Total guarantees 1,639 18,146 (2,803) 16,982 1,662 17,680 (2,942) 16,400 Loan commitments 3,535 31,212 (647) 34,099 7,954 32,125 (1,102) 38,977 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 13,011 Securities borrowing agreements 12 24 Repurchase agreements 7,926 400 8,399 1 Cash to be paid in the future by either UBS or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
UBS AG | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 108,370 108,370 0 0 0 0 0 0 Loans and advances to banks 16,642 16,440 202 0 (7) (4) (1) (3) Receivables from securities financing transactions 95,349 95,349 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,603 23,603 0 0 0 0 0 0 Loans and advances to customers 321,482 299,378 20,357 1,748 (772) (69) (155) (549) of which: Private clients with mortgages 126,335 115,679 9,859 796 (138) (16) (83) (39) of which: Real estate financing 36,474 28,578 7,858 38 (59) (3) (40) (16) of which: Large corporate clients 11,390 10,845 457 88 (95) (9) (4) (82) of which: SME clients 9,924 8,029 1,263 632 (281) (13) (12) (256) of which: Lombard 111,722 111,707 0 14 (21) (4) 0 (17) of which: Credit cards 1,529 1,216 297 16 (30) (6) (13) (11) of which: Commodity trade finance 3,260 2,798 445 16 (86) (5) (3) (78) Other financial assets measured at amortized cost 22,637 21,936 223 478 (155) (43) (4) (109) of which: Loans to financial advisors 3,291 3,104 62 125 (113) (34) (2) (77) Total financial assets measured at amortized cost 588,084 565,076 20,782 2,226 (937) (117) (159) (660) Financial assets measured at fair value through other comprehensive income 6,667 6,667 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 594,750 571,743 20,782 2,226 (937) (117) (159) (660) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,146 17,321 611 215 (43) (7) (2) (34) of which: Large corporate clients 3,862 3,599 136 127 (8) (1) (1) (6) of which: SME clients 1,298 1,057 164 77 (26) 0 0 (25) of which: Financial intermediaries and hedge funds 7,193 7,125 67 0 (4) (3) 0 0 of which: Lombard 834 834 0 0 0 0 0 0 of which: Commodity trade finance 2,097 1,851 236 11 (1) (1) 0 0 Irrevocable loan commitments 31,212 30,590 568 53 (37) (32) (5) 0 of which: Large corporate clients 22,019 21,492 519 7 (31) (26) (4) 0 Forward starting reverse repurchase and securities borrowing agreements 937 937 0 0 0 0 0 0 Committed unconditionally revocable credit lines 38,851 37,338 1,420 93 (36) (19) (16) 0 of which: Real estate financing 2,562 2,150 401 11 (17) (4) (12) 0 of which: Large corporate clients 4,260 4,152 91 17 (2) (1) 0 0 of which: SME clients 4,505 4,163 285 57 (7) (6) (1) 0 of which: Lombard 7,402 7,402 0 0 0 (1) 0 0 of which: Credit cards 7,343 7,035 309 0 (6) (4) (2) 0 of which: Commodity trade finance 3,467 3,209 254 4 (2) (2) 0 0 Irrevocable committed prolongation of existing loans 3,339 2,861 456 22 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 92,486 89,048 3,055 383 (116) (59) (23) (34) Total allowances and provisions (1,054) (176) (183) (695) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. USD million 1.1.18 Carrying amount 1 ECL allowances Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 90,045 90,045 0 0 0 0 0 0 Loans and advances to banks 14,027 14,007 18 0 (5) (3) 0 (3) Receivables from securities financing transactions 86,864 86,864 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,040 24,040 0 0 0 0 0 0 Loans and advances to customers 320,687 290,582 28,575 1,530 (890) (62) (167) (661) of which: Private clients with mortgages 122,652 106,553 15,394 704 (128) (12) (71) (45) of which: Real estate financing 36,824 26,888 9,907 30 (64) (4) (54) (6) of which: Large corporate clients 11,289 10,626 571 90 (71) (6) 0 (65) of which: SME clients 10,589 8,431 1,557 600 (295) (8) (24) (262) of which: Lombard 113,461 113,444 0 17 (86) (5) 0 (81) Other financial assets measured at amortized cost 18,850 18,339 33 477 (139) (30) (1) (108) of which: Loans to financial advisors 3,166 2,948 33 184 (118) (29) (1) (89) Total financial assets measured at amortized cost 554,512 523,878 28,628 2,007 (1,037) (97) (168) (772) Financial assets measured at fair value through other comprehensive income 6,930 6,930 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 561,442 530,808 28,628 2,007 (1,037) (97) (168) (772) Total exposure ECL provisions Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,596 16,753 649 194 (38) (6) (2) (30) Irrevocable loan commitments 31,650 30,933 679 38 (37) (25) (8) (4) of which: Large corporate clients 22,568 21,896 645 27 (28) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,247 1,247 0 0 0 0 0 0 Committed unconditionally revocable credit lines 37,639 35,362 2,213 64 (35) (19) (15) 0 of which: Real estate financing 3,183 2,151 1,033 0 (10) (2) (7) 0 of which: SME clients 4,893 4,422 416 54 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,677 1,676 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 89,809 85,972 3,541 295 (110) (50) (25) (34) Total allowances and provisions (1,146) (148) (193) (806) 1 The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. |
UBS AG | Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 34 Guarantees, commitments and forward starting transactions The table below shows the maximum irrevocable amount of guarantees, commitments and forward starting transactions. USD million 31.12.18 31.12.17 Gross Sub- partici- pations Net Gross Sub- partici- pations Net Measured at fair value Not measured at fair value Measured at fair value Not measured at fair value Total guarantees 1,639 18,146 (2,803) 16,982 1,662 17,680 (2,942) 16,400 Loan commitments 3,535 31,212 (647) 34,099 7,954 32,125 (1,102) 38,977 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 13,011 Securities borrowing agreements 12 24 Repurchase agreements 7,926 400 8,399 1 Cash to be paid in the future by either UBS AG or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended USD million 31.12.18 31.12.17 31.12.16 Received by UBS Fees 35 36 36 Paid by UBS Rent 4 5 5 Dividends, capital repayments and interest 10 10 14 |
Key management personnel | Remuneration | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Remuneration of key management personnel USD million, except where indicated 31.12.18 31.12.17 31.12.16 Base salaries and other cash payments 1 27 25 25 Incentive awards – cash 2 15 15 11 Annual incentive award under DCCP 22 22 22 Employer’s contributions to retirement benefit plans 3 3 3 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 40 40 42 Total 109 106 105 Total (CHF million) 4 107 106 104 1 Includes role-based allowances in line with market practice in response to regulatory requirements. 2 The cash portion may also include blocked shares in line with regulatory requirements. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period of generally 5 years. Refer to Note 30 for more information. In 2018, 2017 and 2016, equity-based compensation was entirely comprised of EOP awards. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2018: CHF / USD 0.98; 2017: CHF / USD 1.00; 2016: CHF / USD 0.99). |
Key management personnel | Equity holdings | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Equity holdings of key management personnel 31.12.18 31.12.17 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 0 398,867 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 5,954,967 3,709,539 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. |
Key management personnel | Loans, advances and mortgages | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans, advances and mortgages to key management personnel 1 USD million, except where indicated 2018 2017 Balance at the beginning of the year 42 42 Additions 15 2 Reductions (22) (1) Balance at the end of the year 2 34 42 Balance at the end of the year (CHF million) 2, 3 34 41 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two GEB members and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. 3 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the relevant year-end closing exchange rate. |
Associates and joint ventures | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans to and outstanding receivables from associates and joint ventures USD million 2018 2017 Carrying value at the beginning of the year 565 464 Additions 276 83 Reductions (13) (3) Foreign currency translation 0 21 Carrying value at the end of the year 829 565 of which: unsecured loans 818 554 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.18 31.12.17 Payments to associates and joint ventures for goods and services received 177 180 Fees received for services provided to associates and joint ventures 4 2 Commitments and contingent liabilities to associates and joint ventures 4 4 |
UBS AG | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended USD million 31.12.18 31.12.17 31.12.16 Received by UBS AG Fees 22 36 36 Paid by UBS AG Rent 3 5 5 Dividends, capital repayments and interest 10 10 14 |
UBS AG | Key management personnel | Remuneration | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Remuneration of key management personnel USD million, except where indicated 31.12.18 31.12.17 31.12.16 Base salaries and other cash payments 1 25 24 24 Incentive awards – cash 2 14 13 10 Annual incentive award under DCCP 21 20 20 Employer’s contributions to retirement benefit plans 3 3 2 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 38 36 39 Total 102 98 98 Total (CHF million) 4 100 98 97 1 Includes role-based allowances in line with market practice in response to regulatory requirements. 2 The cash portion may also include blocked shares in line with regulatory requirements. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period of generally 5 years. Refer to Note 30 for more information. In 2018, 2017 and 2016, equity-based compensation was entirely comprised of EOP awards. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2018: CHF / USD 0.98; 2017: CHF / USD 1.00; 2016: CHF / USD 0.99). |
UBS AG | Key management personnel | Equity holdings | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Equity holdings of key management personnel 31.12.18 31.12.17 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 0 398,867 Number of shares held by members of the BoD, EB and parties closely linked to them 2 5,676,989 3,709,539 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. |
UBS AG | Key management personnel | Loans, advances and mortgages | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans, advances and mortgages to key management personnel 1 USD million, except where indicated 2018 2017 Balance at the beginning of the year 34 34 Additions 15 2 Reductions (22) (1) Balance at the end of the year 2 28 35 Balance at the end of the year (CHF million) 2, 3 27 34 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two EB and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. 3 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the relevant year-end closing exchange rate. |
UBS AG | Associates and joint ventures | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans to and outstanding receivables from associates and joint ventures USD million 2018 2017 Carrying value at the beginning of the year 565 464 Additions 276 83 Reductions (13) (3) Foreign currency translation 0 21 Carrying value at the end of the year 829 565 of which: unsecured loans 818 554 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.18 31.12.17 Payments to associates and joint ventures for goods and services received 177 180 Fees received for services provided to associates and joint ventures 4 2 Commitments and contingent liabilities to associates and joint ventures 4 4 |
UBS AG | UBS Group AG and other subsidiaries of UBS Group AG | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | USD million 31.12.18 31.12.17 Receivables Loans and advances to customers 1,161 2,208 Financial assets at fair value held for trading 139 101 Other financial assets measured at amortized cost 105 116 Payables Customer deposits 2,152 3,489 Funding from UBS Group AG and its subsidiaries 41,202 35,648 Other financial liabilities measured at amortized cost 1,711 1,587 |
Invested assets and net new m_2
Invested assets and net new money (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Invested Assets And Net New Money [Line Items] | |
Disclosure of invested assets and net new money [text block] | Invested assets and net new money As of or for the year ended USD billion 31.12.18 31.12.17 Fund assets managed by UBS 342 339 Discretionary assets 999 1,052 Other invested assets 1,760 1,871 Total invested assets 1 3,101 3,262 of which: double counts 213 209 Net new money 1 59 106 1 Includes double counts. |
Development of invested assets | Development of invested assets USD billion 2018 2017 Total invested assets at the beginning of the year 1 3,262 2,761 Net new money 59 106 Market movements 2 (180) 322 Foreign currency translation (35) 77 Other effects (5) (3) of which: acquisitions / (divestments) 7 4 Total invested assets at the end of the year 1 3,101 3,262 1 Includes double counts. 2 Includes interest and dividend income. |
UBS AG | |
Disclosure Of Invested Assets And Net New Money [Line Items] | |
Disclosure of invested assets and net new money [text block] | Invested assets and net new money As of or for the year ended USD billion 31.12.18 31.12.17 Fund assets managed by UBS 342 339 Discretionary assets 999 1,052 Other invested assets 1,760 1,871 Total invested assets 1 3,101 3,262 of which: double counts 213 209 Net new money 1 59 106 1 Includes double counts. |
Development of invested assets | Development of invested assets USD billion 2018 2017 Total invested assets at the beginning of the year 1 3,262 2,761 Net new money 59 106 Market movements 2 (180) 322 Foreign currency translation (35) 77 Other effects (5) (3) of which: acquisitions / (divestments) 7 4 Total invested assets at the end of the year 1 3,101 3,262 1 Includes double counts. 2 Includes interest and dividend income. |
Currency translation rates (Tab
Currency translation rates (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Foreign Exchange Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Closing exchange rate Average rate 1 As of For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.16 1 CHF 1.02 1.03 1.02 1.02 1.01 1 EUR 1.15 1.20 1.18 1.14 1.10 1 GBP 1.28 1.35 1.33 1.30 1.34 100 JPY 0.91 0.89 0.91 0.89 0.92 1 Monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollars. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
UBS AG | |
Foreign Exchange Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Closing exchange rate Average rate 1 As of For the year ended 31.12.18 31.12.17 31.12.18 31.12.17 31.12.16 1 CHF 1.02 1.03 1.02 1.02 1.01 1 EUR 1.15 1.20 1.18 1.14 1.10 1 GBP 1.28 1.35 1.33 1.30 1.34 100 JPY 0.91 0.89 0.91 0.89 0.92 1 Monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollars. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all operations of UBS AG with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for UBS AG. |
Supplemental guarantor inform_2
Supplemental guarantor information required under SEC regulations (Tables) - UBS AG | 12 Months Ended |
Dec. 31, 2018 | |
Supplemental Guarantor Information [Line Items] | |
Schedule Of Condensed Income Statement [Table Text Block] | Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2018 Operating income Interest income 10,259 4,266 5,533 (2,963) 17,095 Interest expense (9,924) (901) (3,323) 3,001 (11,147) Net interest income 336 3,365 2,210 38 5,949 Other net income from fair value changes on financial instruments 4,372 887 828 (110) 5,977 Credit loss (expense) / recovery (37) (52) (9) (19) (117) Fee and commission income 2,655 4,474 13,159 (656) 19,632 Fee and commission expense (851) (391) (1,109) 648 (1,703) Net fee and commission income 1,804 4,083 12,050 (8) 17,930 Other income 4,722 198 2,110 (6,125) 905 Total operating income 11,196 8,480 17,189 (6,223) 30,642 Operating expenses Personnel expenses 3,592 1,890 8,510 0 13,992 General and administrative expenses 4,691 3,471 5,403 (3,490) 10,075 Depreciation and impairment of property, equipment and software 715 21 316 0 1,052 Amortization and impairment of intangible assets 3 0 62 0 65 Total operating expenses 9,001 5,382 14,291 (3,490) 25,184 Operating profit / (loss) before tax 2,195 3,098 2,898 (2,733) 5,458 Tax expense / (benefit) 25 670 577 73 1,345 Net profit / (loss) 2,170 2,428 2,321 (2,806) 4,113 Net profit / (loss) attributable to non-controlling interests 0 0 7 0 7 Net profit / (loss) attributable to shareholders 2,170 2,428 2,314 (2,806) 4,107 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Operating income Interest income 8,806 4,065 3,959 (2,338) 14,492 Interest expense (7,259) (680) (2,192) 2,245 (7,886) Net interest income 1,547 3,385 1,767 (93) 6,607 Other net income from fair value changes on financial instruments 3,397 918 688 64 5,067 Credit loss (expense) / recovery (139) (23) (9) 40 (131) Fee and commission income 2,561 4,424 13,315 (911) 19,390 Fee and commission expense (968) (380) (1,357) 865 (1,840) Net fee and commission income 1,594 4,045 11,958 (46) 17,550 Other income 4,382 170 3,017 (6,616) 952 Total operating income 10,780 8,495 17,420 (6,651) 30,044 Operating expenses Personnel expenses 4,488 2,060 8,403 0 14,952 General and administrative expenses 4,922 3,400 5,760 (5,081) 9,001 Depreciation and impairment of property, equipment and software 664 11 270 0 945 Amortization and impairment of intangible assets 8 0 63 0 71 Total operating expenses 10,082 5,472 14,496 (5,081) 24,969 Operating profit / (loss) before tax 698 3,023 2,924 (1,570) 5,076 Tax expense / (benefit) 458 628 3,156 0 4,242 Net profit / (loss) 240 2,395 (232) (1,570) 834 Net profit / (loss) attributable to preferred noteholders 73 0 0 0 73 Net profit / (loss) attributable to non-controlling interests 0 0 4 0 4 Net profit / (loss) attributable to shareholders 168 2,395 (236) (1,569) 758 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated income statement USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Operating income Interest income 8,605 4,207 3,229 (2,086) 13,954 Interest expense (6,778) (724) (1,895) 1,900 (7,497) Net interest income 1,827 3,483 1,334 (187) 6,457 Other net income from fair value changes on financial instruments 3,774 790 777 (323) 5,018 Credit loss (expense) / recovery (25) (3) (10) 0 (38) Fee and commission income 2,356 4,192 12,681 (804) 18,425 Fee and commission expense (839) (363) (1,342) 763 (1,781) Net fee and commission income 1,517 3,828 11,339 (41) 16,644 Other income 8,305 352 1,917 (9,825) 749 Total operating income 15,399 8,450 15,357 (10,375) 28,831 Operating expenses Personnel expenses 5,761 2,070 7,952 0 15,782 General and administrative expenses 5,278 3,549 5,659 (6,710) 7,776 Depreciation and impairment of property, equipment and software 708 12 272 0 992 Amortization and impairment of intangible assets 22 0 70 0 93 Total operating expenses 11,769 5,631 13,953 (6,710) 24,643 Operating profit / (loss) before tax 3,630 2,819 1,404 (3,665) 4,188 Tax expense / (benefit) 917 597 (753) (7) 753 Net profit / (loss) 2,713 2,222 2,157 (3,658) 3,435 Net profit / (loss) attributable to preferred noteholders 80 0 0 0 80 Net profit / (loss) attributable to non-controlling interests 0 0 4 0 4 Net profit / (loss) attributable to shareholders 2,633 2,222 2,153 (3,658) 3,351 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Condensed Statement Of Comprehensive Income [Table Text Block] | Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2018 Comprehensive income attributable to shareholders Net profit / (loss) 2,170 2,428 2,314 (2,806) 4,107 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (369) (109) 215 (252) (515) Financial assets measured at fair value through other comprehensive income, net of tax 0 0 (45) 0 (45) Cash flow hedges, net of tax (277) 2 19 (13) (269) Total other comprehensive income that may be reclassified to the income statement, net of tax (646) (107) 189 (265) (829) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 89 (126) 212 0 175 Own credit on financial liabilities designated at fair value, net of tax 509 509 Total other comprehensive income that will not be reclassified to the income statement, net of tax 598 (126) 212 0 684 Total other comprehensive income (48) (233) 401 (265) (145) Total comprehensive income attributable to shareholders 2,122 2,195 2,715 (3,071) 3,961 Total comprehensive income attributable to non-controlling interests 5 5 Total comprehensive income 2,122 2,195 2,721 (3,071) 3,967 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Comprehensive income attributable to shareholders Net profit / (loss) 168 2,395 (236) (1,569) 758 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax 2,177 500 (2,473) 1,318 1,522 Financial assets measured at fair value through other comprehensive income, net of tax (10) 2 11 (93) (91) Cash flow hedges, net of tax (474) (162) (1) 2 (635) Total other comprehensive income that may be reclassified to the income statement, net of tax 1,693 340 (2,463) 1,226 797 Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 284 (22) 27 26 314 Own credit on financial liabilities designated at fair value, net of tax (317) (317) Total other comprehensive income that will not be reclassified to the income statement, net of tax (33) (22) 27 26 (3) Total other comprehensive income 1,660 318 (2,436) 1,252 794 Total comprehensive income attributable to shareholders 1,828 2,713 (2,672) (317) 1,552 Total comprehensive income attributable to preferred noteholders 320 320 Total comprehensive income attributable to non-controlling interests 6 6 Total comprehensive income 2,148 2,713 (2,665) (317) 1,878 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Comprehensive income attributable to shareholders Net profit / (loss) 2,633 2,222 2,153 (3,658) 3,351 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (467) (228) 765 (474) (404) Financial assets measured at fair value through other comprehensive income, net of tax 0 (36) (25) 3 (58) Cash flow hedges, net of tax (815) 102 0 30 (684) Total other comprehensive income that may be reclassified to the income statement, net of tax (1,282) (163) 739 (441) (1,146) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (659) (49) (97) (25) (829) Own credit on financial liabilities designated at fair value, net of tax (130) (130) Total other comprehensive income that will not be reclassified to the income statement, net of tax (788) (49) (97) (25) (959) Total other comprehensive income (2,070) (211) 643 (467) (2,105) Total comprehensive income attributable to shareholders 563 2,011 2,796 (4,124) 1,246 Total comprehensive income attributable to preferred noteholders 59 59 Total comprehensive income attributable to non-controlling interests 3 3 Total comprehensive income 622 2,011 2,799 (4,124) 1,308 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Schedule Of Condensed Balance Sheet [Table Text Block] | Supplemental guarantor consolidated balance sheet USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 Dec 2018 Assets Cash and balances at central banks 36,350 53,490 18,530 0 108,370 Loans and advances to banks 34,063 7,405 21,151 (45,978) 16,642 Receivables from securities financing transactions 70,028 28,637 51,617 (54,932) 95,349 Cash collateral receivables on derivative instruments 23,136 559 12,148 (12,240) 23,603 Loans and advances to customers 93,141 188,013 62,166 (21,838) 321,482 Other financial assets measured at amortized cost 4,696 8,564 11,247 (1,869) 22,637 Total financial assets measured at amortized cost 261,415 286,667 176,858 (136,857) 588,084 Financial assets at fair value held for trading 92,784 62 15,578 (3,911) 104,513 of which: assets pledged as collateral that may be sold or repledged by counterparties 49,509 0 7,326 (24,714) 32,121 Derivative financial instruments 119,590 3,834 38,760 (35,972) 126,212 Brokerage receivables 11,063 5,779 (2) 16,840 Financial assets at fair value not held for trading 50,592 7,177 41,184 (16,566) 82,387 Total financial assets measured at fair value through profit or loss 274,030 11,073 101,300 (56,451) 329,953 Financial assets measured at fair value through other comprehensive income 171 0 6,495 0 6,667 Investments in subsidiaries and associates 50,971 20 31 (49,922) 1,099 Property, equipment and software 6,546 242 1,714 (24) 8,479 Goodwill and intangible assets 308 6,395 (56) 6,647 Deferred tax assets 533 198 9,282 52 10,066 Other non-financial assets 4,623 1,659 766 14 7,062 Total assets 598,598 299,860 302,842 (243,244) 958,055 Liabilities Amounts due to banks 36,430 24,774 44,377 (94,618) 10,962 Payables from securities financing transactions 36,840 1,167 27,297 (55,008) 10,296 Cash collateral payables on derivative instruments 28,096 35 12,894 (12,118) 28,906 Customer deposits 77,180 245,452 82,360 16,994 421,986 Funding from UBS Group AG and its subsidiaries 41,202 41,202 Debt issued measured at amortized cost 82,653 8,578 587 (573) 91,245 Other financial liabilities measured at amortized cost 4,170 1,454 3,790 (1,838) 7,576 Total financial liabilities measured at amortized cost 306,571 281,460 171,305 (147,161) 612,174 Financial liabilities at fair value held for trading 23,455 493 8,829 (3,828) 28,949 Derivative financial instruments 119,131 3,510 39,107 (36,025) 125,723 Brokerage payables designated at fair value 26,559 11,875 (14) 38,420 Debt issued designated at fair value 55,378 1,670 (17) 57,031 Other financial liabilities designated at fair value 10,936 28,618 (5,959) 33,594 Total financial liabilities measured at fair value through profit or loss 235,458 4,004 90,098 (45,843) 283,717 Provisions 1,361 163 1,850 83 3,457 Other non-financial liabilities 1,676 929 3,623 47 6,275 Total liabilities 545,067 286,556 266,876 (192,875) 905,624 Equity attributable to shareholders 53,531 13,304 35,790 (50,369) 52,256 Equity attributable to non-controlling interests 176 176 Total equity 53,531 13,304 35,966 (50,369) 52,432 Total liabilities and equity 598,598 299,860 302,842 (243,244) 958,055 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated balance sheet USD million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 Dec 2017 Assets Cash and balances at central banks 37,497 39,461 13,086 0 90,045 Loans and advances to banks 31,254 4,080 73,206 (94,494) 14,047 Receivables from securities financing transactions 62,783 35,731 58,481 (65,043) 91,951 Cash collateral receivables on derivative instruments 22,924 714 13,292 (12,890) 24,040 Loans and advances to customers 109,196 188,038 77,781 (46,064) 328,952 Other financial assets measured at amortized cost 17,460 10,610 13,197 (3,376) 37,890 Total financial assets measured at amortized cost 281,115 278,634 249,044 (221,868) 586,925 Financial assets at fair value held for trading 103,799 94 33,540 (7,923) 129,509 of which: assets pledged as collateral that may be sold or repledged by counterparties 60,038 0 9,966 (33,727) 36,277 Derivative financial instruments 116,993 4,229 34,947 (34,883) 121,286 Financial assets at fair value not held for trading 34,982 13,098 14,535 (2,546) 60,070 Total financial assets measured at fair value through profit or loss 255,775 17,421 83,021 (45,352) 310,865 Financial assets measured at fair value through other comprehensive income 3,698 810 7,608 (3,226) 8,889 Investments in subsidiaries and associates 50,915 16 29 (49,916) 1,045 Property, equipment and software 6,550 94 1,548 0 8,191 Goodwill and intangible assets 302 0 6,320 (59) 6,563 Deferred tax assets 1,285 432 8,276 0 9,993 Other non-financial assets 5,179 1,758 711 (101) 7,548 Total assets 604,818 299,166 356,559 (320,522) 940,020 Liabilities Amounts due to banks 24,991 21,264 56,499 (95,027) 7,728 Payables from securities financing transactions 49,407 1,687 31,435 (65,043) 17,485 Cash collateral payables on derivative instruments 28,486 62 15,371 (12,890) 31,029 Customer deposits 86,105 247,554 137,590 (48,192) 423,058 Funding from UBS Group AG and its subsidiaries 35,648 35,648 Debt issued measured at amortized cost 99,069 8,583 535 (730) 107,458 Other financial liabilities measured at amortized cost 29,178 1,453 10,850 (3,388) 38,092 Total financial liabilities measured at amortized cost 352,885 280,604 252,280 (225,270) 660,498 Financial liabilities at fair value held for trading 24,988 257 13,336 (7,329) 31,251 Derivative financial instruments 114,331 3,770 35,920 (34,883) 119,138 Debt issued designated at fair value 48,743 2,327 (288) 50,782 Other financial liabilities designated at fair value 6,173 13,015 (2,546) 16,643 Total financial liabilities measured at fair value through profit or loss 194,235 4,027 64,598 (45,046) 217,814 Provisions 1,084 149 1,930 0 3,164 Other non-financial liabilities 2,039 851 3,736 (128) 6,499 Total liabilities 550,243 285,631 322,544 (270,443) 887,974 Equity attributable to shareholders 54,574 13,536 33,956 (50,078) 51,987 Equity attributable to non-controlling interests 59 59 Total equity 54,574 13,536 34,015 (50,078) 52,046 Total liabilities and equity 604,818 299,166 356,559 (320,522) 940,020 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the “UBS AG standalone financial information” section of this report for UBS AG standalone financial information prepared in accordance with Swiss GAAP. Refer to “Holding company and significant regulated subsidiaries and sub-groups” at www.ubs.com/investors for UBS Switzerland AG standalone interim financial statements prepared in accordance with Swiss GAAP. 2 Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Schedule Of Condensed Cash Flow Statement [Table Text Block] | Supplemental guarantor consolidated statement of cash flows USD million UBS AG 2 UBS Switzerland AG 2 Other subsidiaries 2 UBS AG (consolidated) For the year ended 31 December 2018 1 Net cash flow from / (used in) operating activities (652) 14,887 13,509 27,744 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (124) (5) (158) (287) Disposal of subsidiaries, associates and intangible assets 3 97 0 40 137 Purchase of property, equipment and software (822) (170) (481) (1,473) Disposal of property, equipment and software 111 0 3 114 Purchase of financial assets measured at fair value through other comprehensive income (170) 0 (1,829) (1,999) Disposal and redemption of financial assets measured at fair value through other comprehensive income 20 15 1,325 1,361 Net (purchase) / redemption of debt securities measured at amortized cost (1,000) 2,111 (4,881) (3,770) Net cash flow from / (used in) investing activities (1,888) 1,951 (5,982) (5,918) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (12,295) (3) 53 (12,245) Distributions paid on UBS AG shares (3,098) 0 0 (3,098) Issuance of long-term debt, including debt issued designated at fair value 53,294 872 560 54,726 Repayment of long-term debt, including debt issued designated at fair value (42,759) (812) (772) (44,344) Funding from UBS Group AG and its subsidiaries 5,956 5,956 Net changes in non-controlling interests 0 0 (31) (31) Net activity related to group internal capital transactions and dividends 3,000 (2,372) (628) 0 Net cash flow from / (used in) financing activities 4,098 (2,315) (820) 963 Total cash flow Cash and cash equivalents at the beginning of the year 41,570 40,961 22,256 104,787 Net cash flow from / (used in) operating, investing and financing activities 1,559 14,523 6,707 22,789 Effects of exchange rate differences on cash and cash equivalents (234) (726) (762) (1,722) Cash and cash equivalents at the end of the year 4 42,895 54,757 28,201 125,853 of which: cash and balances at central banks 36,248 53,490 18,530 108,268 of which: loans and advances to banks 4,849 1,249 9,354 15,452 of which: money market paper 5 1,798 18 318 2,133 1 Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information. 2 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 3 Includes dividends received from associates. 4 USD 5,245 million of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. Supplemental guarantor consolidated statement of cash flows USD million UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2017 Net cash flow from / (used in) operating activities (35,057) (8,742) (9,348) (53,147) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (2) (104) (106) Disposal of subsidiaries, associates and intangible assets 2 291 0 48 339 Purchase of property, equipment and software (1,054) (86) (393) (1,532) Disposal of property, equipment and software 1 0 209 210 Purchase of financial assets measured at fair value through other comprehensive income (234) 0 (8,393) (8,626) Disposal and redemption of financial assets measured at fair value through other comprehensive income 3,489 1,580 10,181 15,250 Net (purchase) / redemption of financial assets held to maturity (455) 364 0 (91) Net cash flow from / (used in) investing activities 2,039 1,856 1,548 5,444 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 24,556 (5) (50) 24,500 Distributions paid on UBS AG shares (2,219) 0 0 (2,219) Issuance of long-term debt, including debt issued designated at fair value 39,232 631 409 40,270 Repayment of long-term debt, including debt issued designated at fair value (43,605) (589) (993) (45,187) Funding from UBS Group AG and its subsidiaries 11,180 11,180 Dividends paid and repayments of preferred notes (782) 0 0 (782) Net changes in non-controlling interests 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 1,264 (194) (1,071) 0 Net cash flow from / (used in) financing activities 29,625 (158) (1,710) 27,758 Total cash flow Cash and cash equivalents at the beginning of the year 43,495 45,815 29,674 118,984 Net cash flow from / (used in) operating, investing and financing activities (3,393) (7,043) (9,510) (19,944) Effects of exchange rate differences on cash and cash equivalents 1,466 2,189 2,094 5,749 Cash and cash equivalents at the end of the year 3 41,570 40,961 22,256 104,787 of which: cash and balances at central banks 37,420 39,461 13,086 89,968 of which: loans and advances to banks 2,344 1,492 8,890 12,726 of which: money market paper 4 1,806 7 280 2,093 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 2 Includes dividends received from associates. 3 USD 2,497 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. Supplemental guarantor consolidated statement of cash flows USD million UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2016 Net cash flow from / (used in) operating activities (28,636) (3,918) 13,383 (19,172) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (3) (24) (27) Disposal of subsidiaries, associates and intangible assets 2 94 0 0 95 Purchase of property, equipment and software (1,351) (16) (414) (1,782) Disposal of property, equipment and software 178 0 3 182 Purchase of financial assets measured at fair value through other comprehensive income (568) (988) (5,465) (7,022) Disposal and redemption of financial assets measured at fair value through other comprehensive income 25,034 22,136 7,263 54,433 Net (purchase) / redemption of financial assets held to maturity (518) (8,706) (9,224) Net cash flow from / (used in) investing activities 22,868 12,424 1,364 36,655 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 8,454 (7) (2,973) 5,474 Distributions paid on UBS AG shares (3,589) 0 0 (3,589) Issuance of long-term debt, including debt issued designated at fair value 17,991 742 1,053 19,786 Repayment of long-term debt, including debt issued designated at fair value (32,219) (677) (1,006) (33,902) Funding from UBS Group AG and its subsidiaries 13,917 13,917 Dividends paid and repayments of preferred notes (1,382) 0 0 (1,382) Net changes in non-controlling interests 0 0 (5) (5) Net activity related to group internal capital transactions and dividends (1,356) (2,019) 3,374 0 Net cash flow from / (used in) financing activities 1,817 (1,961) 444 299 Total cash flow Cash and cash equivalents at the beginning of the year 47,822 40,180 14,795 102,797 Net cash flow from / (used in) operating, investing and financing activities (3,951) 6,544 15,190 17,783 Effects of exchange rate differences on cash and cash equivalents (378) (909) (310) (1,596) Cash and cash equivalents at the end of the year 3 43,495 45,815 29,674 118,984 of which: cash and balances at central banks 39,779 43,750 22,304 105,832 of which: loans and advances to banks 2,787 2,058 6,874 11,719 of which: money market paper 4 930 7 497 1,433 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 2 Includes dividends received from associates. 3 USD 2,615 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. |
MD&A - Risk management and co_5
MD&A - Risk management and control - Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings [text block] | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
UBS AG | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings [text block] | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
MD&A - Risk management and co_6
MD&A - Risk management and control - Market Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure MDARisk Management And Control Market Risk [Line Items] | |
Disclosure of detailed information about management value-at-risk [text block] | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.18 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 3 5 5 1 1 Max. 22 11 9 13 4 Average 8 8 7 3 2 31.12.18 5 7 5 6 2 Total management VaR, Group 5 26 12 12 Average (per business division and risk type) Global Wealth Management 0 2 1 1 0 1 2 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 25 11 10 8 6 6 3 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 6 4 6 0 4 1 1 0 CC – Non-core and Legacy Portfolio 2 3 2 2 1 2 1 0 0 Diversification effect 2,3 (7) (7) (1) (5) (4) (1) 0 For the year ended 31.12.17 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 5 1 0 Max. 15 12 8 5 7 Average 6 10 6 3 2 31.12.17 5 9 8 3 2 Total management VaR, Group 5 19 11 10 Average (per business division and risk type) Global Wealth Management 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 18 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 6 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. |
Disclosure of interest rate sensitivity - banking book [text block] | Interest rate sensitivity – banking book 1 31.12.18 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (8.5) (8.5) 0.8 78.6 158.6 EUR (167.9) (141.3) 0.1 6.9 15.6 GBP (88.2) (56.0) 0.1 11.1 20.5 USD (355.3) (96.5) 0.0 (73.6) (202.3) Other 8.8 3.7 0.1 10.4 21.3 Total effect on fair value of interest rate-sensitive banking book positions (611.1) (298.5) 1.0 33.4 13.6 of which: Global Wealth Management 30.5 15.0 (0.1) (14.4) (28.3) of which: Investment Bank 18.1 9.7 (0.1) (8.1) (17.1) of which: CC – Group ALM (573.0) (280.6) 0.9 18.8 (9.9) of which: CC – Non-core and Legacy Portfolio (89.5) (44.1) 0.4 39.6 73.7 31.12.17 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (32.7) (32.7) 1.0 100.2 196.2 EUR (145.8) (92.9) 0.2 15.6 31.9 GBP (59.1) (56.8) 0.1 11.5 21.8 USD 27.3 14.8 (1.4) (138.5) (287.8) Other 4.4 0.8 0.1 5.2 10.7 Total effect on fair value of interest rate-sensitive banking book positions (205.8) (166.8) 0.0 (6.1) (27.3) of which: Global Wealth Management 148.4 60.5 (1.8) (179.9) (371.3) of which: Investment Bank 33.8 18.8 (0.2) (15.8) (31.6) of which: CC – Group ALM (279.6) (193.0) 1.5 142.3 287.2 of which: CC – Non-core and Legacy Portfolio (108.9) (53.4) 0.5 47.8 89.6 1 In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro, interest rates for Global Wealth Management (excluding Americas) and Personal & Corporate Banking client transactions are generally floored at non-negative levels. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. |
UBS AG | |
Disclosure MDARisk Management And Control Market Risk [Line Items] | |
Disclosure of detailed information about management value-at-risk [text block] | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.18 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 3 5 5 1 1 Max. 22 11 9 13 4 Average 8 8 7 3 2 31.12.18 5 7 5 6 2 Total management VaR, Group 5 26 12 12 Average (per business division and risk type) Global Wealth Management 0 2 1 1 0 1 2 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 25 11 10 8 6 6 3 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 6 4 6 0 4 1 1 0 CC – Non-core and Legacy Portfolio 2 3 2 2 1 2 1 0 0 Diversification effect 2,3 (7) (7) (1) (5) (4) (1) 0 For the year ended 31.12.17 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 5 1 0 Max. 15 12 8 5 7 Average 6 10 6 3 2 31.12.17 5 9 8 3 2 Total management VaR, Group 5 19 11 10 Average (per business division and risk type) Global Wealth Management 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 18 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 6 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. |
Disclosure of interest rate sensitivity - banking book [text block] | Interest rate sensitivity – banking book 1 31.12.18 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (8.5) (8.5) 0.8 78.6 158.6 EUR (167.9) (141.3) 0.1 6.9 15.6 GBP (88.2) (56.0) 0.1 11.1 20.5 USD (355.3) (96.5) 0.0 (73.6) (202.3) Other 8.8 3.7 0.1 10.4 21.3 Total effect on fair value of interest rate-sensitive banking book positions (611.1) (298.5) 1.0 33.4 13.6 of which: Global Wealth Management 30.5 15.0 (0.1) (14.4) (28.3) of which: Investment Bank 18.1 9.7 (0.1) (8.1) (17.1) of which: CC – Group ALM (573.0) (280.6) 0.9 18.8 (9.9) of which: CC – Non-core and Legacy Portfolio (89.5) (44.1) 0.4 39.6 73.7 31.12.17 USD million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (32.7) (32.7) 1.0 100.2 196.2 EUR (145.8) (92.9) 0.2 15.6 31.9 GBP (59.1) (56.8) 0.1 11.5 21.8 USD 27.3 14.8 (1.4) (138.5) (287.8) Other 4.4 0.8 0.1 5.2 10.7 Total effect on fair value of interest rate-sensitive banking book positions (205.8) (166.8) 0.0 (6.1) (27.3) of which: Global Wealth Management 148.4 60.5 (1.8) (179.9) (371.3) of which: Investment Bank 33.8 18.8 (0.2) (15.8) (31.6) of which: CC – Group ALM (279.6) (193.0) 1.5 142.3 287.2 of which: CC – Non-core and Legacy Portfolio (108.9) (53.4) 0.5 47.8 89.6 1 In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro, interest rates for Global Wealth Management (excluding Americas) and Personal & Corporate Banking client transactions are generally floored at non-negative levels. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. |
MD&A - Capital management (Tabl
MD&A - Capital management (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of MDA Capital Management [Line Items] | |
Disclosure of reconciliation IFRS equity to Swiss SRB CET1 capital [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital USD million 31.12.18 31.12.17 Total IFRS equity 53,103 52,554 Equity attributable to non-controlling interests (176) (59) Defined benefit plans, net of tax 0 0 Deferred tax assets recognized for tax loss carry-forwards (6,107) (5,947) Deferred tax assets on temporary differences, excess over threshold (586) (879) Goodwill, net of tax 1 (6,514) (6,646) Intangible assets, net of tax (251) (220) Compensation-related components (not recognized in net profit) (1,652) (1,662) Expected losses on advanced internal ratings-based portfolio less provisions 2 (368) (650) Unrealized (gains) / losses from cash flow hedges, net of tax (109) (360) Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values (397) 136 Unrealized gains related to debt instruments at fair value through OCI, net of tax (4) (198) 3 Prudential valuation adjustments (120) (61) Accruals for proposed dividends to shareholders (2,648) (2,501) Other (52) 8 Total common equity tier 1 capital 34,119 33,516 1 Includes goodwill related to significant investments in financial institutions of USD 176 million (31 December 2017: USD 359 million) presented on the balance sheet line “Investments in associates.” 2 From 1 January 2018, provisions have been calculated in accordance with IFRS 9. Provisions in prior periods have been calculated in accordance with International Accounting Standard (IAS) 39. 3 As of 31 December 2017 related to equity and debt instruments available for sale. |
UBS AG | |
Disclosure Of MDA Capital Management [Line Items] | |
Disclosure of reconciliation IFRS equity to Swiss SRB CET1 capital [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital (UBS Group AG vs UBS AG consolidated) As of 31.12.18 USD million UBS Group AG (consolidated) UBS AG (consolidated) Differences Total IFRS equity 53,103 52,432 671 Equity attributable to preferred noteholders and non-controlling interests (176) (176) 1 Defined benefit plans 0 0 0 Deferred tax assets recognized for tax loss carry-forwards (6,107) (6,107) 0 Deferred tax assets on temporary differences, excess over threshold (586) (506) (80) Goodwill, net of tax (6,514) (6,514) 0 Intangible assets, net of tax (251) (251) 0 Compensation-related components (not recognized in net profit) (1,652) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (368) (367) (1) Unrealized (gains) / losses from cash flow hedges, net of tax (109) (109) 0 Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values (397) (397) 0 Unrealized gains related to debt instruments at fair value through OCI, net of tax (4) (4) 0 Prudential valuation adjustments (120) (120) 0 Accruals for proposed dividends to shareholders (2,648) (3,250) 602 Other (52) (22) (30) Total common equity tier 1 capital 34,119 34,608 (489) |
Significant accounting polici_3
Significant accounting policies (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Line Items] | |
Date of authorisation for issue of financial statements | Mar. 14, 2019 |
Threshold percentage for determining whether unrealized loss on equity securities is other-than-temporary | 20.00% |
Threshold period for determining whether unrealized loss on equity securities is other-than-temporary (in months) | 6 months |
Equity method of accounting, low end of range of voting interest (as a percent) | 20.00% |
Equity method of accounting, high end of range of voting interest (as a percent) | 50.00% |
Useful lives, intangible assets with a finite useful life | not exceeding 20 years |
Minimum | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 80.00% |
Maximum | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 125.00% |
UBS AG [Member] | |
Significant Accounting Policies [Line Items] | |
Date of authorisation for issue of financial statements | Mar. 14, 2019 |
Threshold percentage for determining whether unrealized loss on equity securities is other-than-temporary | 20.00% |
Threshold period for determining whether unrealized loss on equity securities is other-than-temporary (in months) | 6 months |
Equity method of accounting, low end of range of voting interest (as a percent) | 20.00% |
Equity method of accounting, high end of range of voting interest (as a percent) | 50.00% |
Useful lives, intangible assets with a finite useful life | not exceeding 20 years |
UBS AG [Member] | Minimum | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 80.00% |
UBS AG [Member] | Maximum | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 125.00% |
Significant accounting polici_4
Significant accounting policies - Useful lives (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Properties, excluding land | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 67 years |
IT hardware and communications equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 7 years |
Software | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
Other machines and equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
Leasehold improvements | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 20 years |
UBS AG | Properties, excluding land | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 67 years |
UBS AG | IT hardware and communications equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 7 years |
UBS AG | Software | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
UBS AG | Other machines and equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
UBS AG | Leasehold improvements | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 20 years |
Changes in accounting policie_3
Changes in accounting policies, comparability and adjustments (Narrative) (Detail) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017$ / shares | Dec. 31, 2017SFr / shares | Dec. 31, 2016$ / shares | Dec. 31, 2016SFr / shares | |
Changes In Accounting Policies [Line Items] | |||||
Basic | $ / shares | $ 1.21 | $ 0.26 | $ 0.9 | ||
Diluted | $ / shares | $ 1.18 | $ 0.25 | $ 0.88 | ||
Increase (decrease) due to changes in accounting policy: Changes in functional and presentation currency | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | effective from 1 October 2018, the functional currency of UBS Group AG and UBS AG’s Head Office in Switzerland changed prospectively from Swiss francs to US dollars and that of UBS AG’s London Branch changed from British pounds to US dollars, in compliance with the requirements of IAS 21, The Effects of Changes in Foreign Exchange Rates. | ||||
Cumulative translation gain in restated balance sheet due to previously applied investment hedges entered into to hedge investments in foreign operations against the former Swiss franc functional currency | $ 767 | ||||
Basic | SFr / shares | SFr 0.28 | SFr 0.86 | |||
Diluted | SFr / shares | SFr 0.27 | SFr 0.84 | |||
Increase (decrease) due to changes in accounting policy: Changes in segment reporting | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | beginning from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented alongside Personal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Center (with its units Services, Group Asset and Liability Management and Non-core and Legacy Portfolio). | ||||
Increase (decrease) due to changes in accounting policy: Changes in presentation of forward points of certain long duration foreign exchange contracts transacted as economic hedges | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | The amount of forward points on certain long-duration foreign exchange contracts recognized in Interest income from financial instruments measured at fair value through profit or loss did not have a material effect on the Group’s financial statements and prior periods have not been restated. | ||||
IFRS 15, Revenue from Contracts with Customers | |||||
Changes In Accounting Policies [Line Items] | |||||
Effect of adoption of IFRS 15, before tax | $ 28 | ||||
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to variable consideration constraint | 16 | ||||
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to lack of enforceable right to a specified amount of consideration | $ 11 | ||||
IFRS Interpretations Committee, payments relating to taxes other than income taxes | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | Adoption of the change did not have a material effect on UBS’s financial statements. | ||||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes in functional and presentation currency | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | effective from 1 October 2018, the functional currency of UBS AG’s Head Office in Switzerland changed prospectively from Swiss francs to US dollars and that of UBS AG’s London Branch changed from British pounds to US dollars, in compliance with the requirements of IAS 21, The Effects of Changes in Foreign Exchange Rates. | ||||
Cumulative translation gain in restated balance sheet due to previously applied investment hedges entered into to hedge investments in foreign operations against the former Swiss franc functional currency | $ 767 | ||||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes in segment reporting | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | beginning from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and is presented alongside Personal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Center (with its units Services, Group Asset and Liability Management and Non-core and Legacy Portfolio). | ||||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes in presentation of forward points of certain long duration foreign exchange contracts transacted as economic hedges | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | The amount of forward points on certain long-duration foreign exchange contracts recognized in Interest income from financial instruments measured at fair value through profit or loss did not have a material effect on UBS AG’s financial statements and prior periods have not been restated. | ||||
UBS AG | IFRS 15, Revenue from Contracts with Customers | |||||
Changes In Accounting Policies [Line Items] | |||||
Effect of adoption of IFRS 15, before tax | $ 28 | ||||
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to variable consideration constraint | 16 | ||||
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to lack of enforceable right to a specified amount of consideration | $ 11 | ||||
UBS AG | IFRS Interpretations Committee, payments relating to taxes other than income taxes | |||||
Changes In Accounting Policies [Line Items] | |||||
Description of nature of change in accounting policy | Adoption of the change did not have a material effect on UBS AG’s financial statements. |
IFRSs and interpretations to _2
IFRSs and interpretations to be adopted and other adjustments (Narrative) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center segment reporting | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | and in compliance with IFRS 8, Operating Segments, beginning with the first quarter 2019 report, UBS will provide results for total Corporate Center only and will not separately report Corporate Center – Services, Group ALM and Non-core and Legacy Portfolio. |
Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center cost allocation and equity attribution to business divisions | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Increase of corporate center operating profit / (loss) before tax | $ 700 |
Increase of adjusted cost / income ratios of the business divisions | 2.00% |
Assets allocated from Corporate Center to the balance sheets of the business divisions | $ 220,000 |
Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center cost allocation and equity attribution to business divisions | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Assets allocated from Corporate Center to the balance sheets of the business divisions | 3,500 |
IFRS 16, Leases | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Increase of assets and liabilities with no material impact on equity | 3,500 |
IFRIC 23, Uncertainty over Income Tax Treatments | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Expected net tax expenses recognized in retained earnings | $ 11 |
Annual Improvements to IFRSs 2015-2017 Cycle | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | The adoption of these amendments will have no material effect on the Group’s financial statements on the transition date. |
Amendments to IAS 19, Employee benefits | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | The adoption will have no effect on the Group’s financial statements on transition at 1 January 2019. |
Amendments to IFRS 3, Business Combinations | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | Adoption of these amendments is not expected to have a material effect on the financial statements. |
UBS AG | Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center segment reporting | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | in compliance with IFRS 8, Operating Segments, beginning with the first quarter 2019 report, UBS AG will provide results for total Corporate Center only and will not separately report Corporate Center – Services, Group ALM and Non-core and Legacy Portfolio |
UBS AG | Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center cost allocation and equity attribution to business divisions | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Increase of corporate center operating profit / (loss) before tax | $ 700 |
Increase of adjusted cost / income ratios of the business divisions | 2.00% |
Assets allocated from Corporate Center to the balance sheets of the business divisions | $ 220,000 |
UBS AG | Adjustments due to other changes in accounting policy to be adopted: Changes in corporate center cost allocation and equity attribution to business divisions | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Assets allocated from Corporate Center to the balance sheets of the business divisions | 3,500 |
UBS AG | IFRS 16, Leases | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Increase of assets and liabilities with no material impact on equity | 3,500 |
UBS AG | IFRIC 23, Uncertainty over Income Tax Treatments | 2019 | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Expected net tax expenses recognized in retained earnings | $ 11 |
UBS AG | Annual Improvements to IFRSs 2015-2017 Cycle | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | The adoption of these amendments will have no material effect on the UBS AG’s financial statements on the transition date. |
UBS AG | Amendments to IAS 19, Employee benefits | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | The adoption will have no effect on UBS AG’s financial statements on transition at 1 January 2019. |
UBS AG | Amendments to IFRS 3, Business Combinations | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Discussion of impact that initial application of new IFRS is expected to have on financial | Adoption of these amendments is not expected to have a material effect on the financial statements. |
CEDAR Transition impacts (Detai
CEDAR Transition impacts (Detail) SFr in Millions, $ in Millions | 12 Months Ended | |||||||||||||
Dec. 31, 2018USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | Dec. 31, 2016CHF (SFr) | Dec. 31, 2016USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015CHF (SFr) | Dec. 31, 2015USD ($) | ||||
Equity | ||||||||||||||
Share capital | $ 338 | $ 338 | $ 338 | $ 338 | ||||||||||
Share premium | 20,843 | 23,598 | 23,598 | 25,958 | ||||||||||
Treasury shares | (2,631) | (2,210) | (2,210) | (2,362) | ||||||||||
Retained earnings | 30,448 | 25,415 | 25,932 | 25,029 | ||||||||||
Other comprehensive income recognized directly in equity, net of tax | 3,930 | 4,764 | 4,838 | 3,953 | ||||||||||
Equity attributable to shareholders | 52,928 | 51,905 | 52,495 | 52,916 | ||||||||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 670 | ||||||||||
Total equity | 53,103 | 51,938 | 52,554 | 53,586 | ||||||||||
Income statement | ||||||||||||||
Other income | 427 | $ 511 | $ 663 | |||||||||||
Total operating income | [1] | 30,213 | 29,622 | [2] | 28,729 | [2] | ||||||||
Operating profit / (loss) before tax | [1] | 5,991 | 5,351 | 4,209 | ||||||||||
Tax expense / (benefit) | [1] | 1,468 | 4,305 | 777 | ||||||||||
Net profit / (loss) | [1],[3] | 4,522 | 1,046 | 3,432 | ||||||||||
Net profit / (loss) attributable to non-controlling interests | 7 | 77 | 84 | |||||||||||
Net profit / (loss) attributable to shareholders | 4,516 | 969 | 3,348 | |||||||||||
Under a USD presentation currency (restated) | ||||||||||||||
Equity | ||||||||||||||
Share capital | 338 | $ 338 | $ 338 | |||||||||||
Share premium | 23,598 | 25,958 | 28,966 | |||||||||||
Treasury shares | (2,210) | (2,362) | (1,806) | |||||||||||
Retained earnings | 25,932 | 25,029 | 22,672 | |||||||||||
Other comprehensive income recognized directly in equity, net of tax | 4,838 | 3,953 | 5,166 | |||||||||||
Equity attributable to shareholders | 52,495 | 52,916 | 55,336 | |||||||||||
Equity attributable to non-controlling interests | 59 | 670 | 1,992 | |||||||||||
Total equity | 52,554 | 53,586 | 57,328 | |||||||||||
Income statement | ||||||||||||||
Other income | 511 | 663 | ||||||||||||
Total operating income | 29,622 | 28,729 | ||||||||||||
Operating profit / (loss) before tax | 5,351 | 4,209 | ||||||||||||
Tax expense / (benefit) | 4,305 | 777 | ||||||||||||
Net profit / (loss) | 1,046 | 3,432 | ||||||||||||
Net profit / (loss) attributable to non-controlling interests | 77 | 84 | ||||||||||||
Net profit / (loss) attributable to shareholders | 969 | 3,348 | ||||||||||||
USD based on a simple translation of CHF presentation currency | ||||||||||||||
Equity | ||||||||||||||
Share capital | [4] | 395 | 378 | 384 | ||||||||||
Share premium | [4] | 26,613 | 27,761 | 31,113 | ||||||||||
Treasury shares | [4] | (2,189) | (2,210) | (1,690) | ||||||||||
Retained earnings | [4] | 33,599 | 31,170 | 29,455 | ||||||||||
Other comprehensive income recognized directly in equity, net of tax | [4] | (5,880) | (4,416) | (4,040) | ||||||||||
Equity attributable to shareholders | [4] | 52,538 | 52,683 | 55,221 | ||||||||||
Equity attributable to non-controlling interests | [4] | 59 | 670 | 1,992 | ||||||||||
Total equity | [4] | 52,597 | 53,353 | 57,213 | ||||||||||
Income statement | ||||||||||||||
Other income | [4] | 515 | 603 | |||||||||||
Total operating income | [4] | 29,627 | 28,669 | |||||||||||
Operating profit / (loss) before tax | [4] | 5,355 | 4,149 | |||||||||||
Tax expense / (benefit) | [4] | 4,234 | 816 | |||||||||||
Net profit / (loss) | [4] | 1,121 | 3,333 | |||||||||||
Net profit / (loss) attributable to non-controlling interests | [4] | 77 | 84 | |||||||||||
Net profit / (loss) attributable to shareholders | [4] | 1,044 | 3,250 | |||||||||||
Under a CHF presentation currency | ||||||||||||||
Equity | ||||||||||||||
Share capital | SFr | SFr 385 | SFr 385 | SFr 385 | |||||||||||
Share premium | SFr | 25,942 | 28,254 | 31,164 | |||||||||||
Treasury shares | SFr | (2,133) | 2,249 | 1,693 | |||||||||||
Retained earnings | SFr | 32,752 | 31,725 | 29,504 | |||||||||||
Other comprehensive income recognized directly in equity, net of tax | SFr | (5,732) | (4,494) | (4,047) | |||||||||||
Equity attributable to shareholders | SFr | 51,214 | 53,621 | 55,313 | |||||||||||
Equity attributable to non-controlling interests | SFr | 57 | 682 | 1,995 | |||||||||||
Total equity | SFr | 51,271 | 54,302 | 57,308 | |||||||||||
Income statement | ||||||||||||||
Other income | 509 | 599 | ||||||||||||
Total operating income | 29,067 | 28,320 | ||||||||||||
Operating profit / (loss) before tax | 5,268 | 4,090 | ||||||||||||
Tax expense / (benefit) | 4,139 | 805 | ||||||||||||
Net profit / (loss) | 1,128 | 3,286 | ||||||||||||
Net profit / (loss) attributable to non-controlling interests | 76 | 82 | ||||||||||||
Net profit / (loss) attributable to shareholders | 1,053 | 3,204 | ||||||||||||
UBS AG | ||||||||||||||
Equity | ||||||||||||||
Share capital | 338 | 338 | 338 | 338 | ||||||||||
Share premium | 24,655 | 24,633 | 24,633 | 27,154 | ||||||||||
Retained earnings | 23,317 | 21,672 | 22,189 | 21,480 | ||||||||||
Other comprehensive income recognized directly in equity, net of tax | 3,946 | 4,754 | 4,828 | 3,985 | ||||||||||
Equity attributable to shareholders | 52,256 | 51,397 | 51,987 | 52,957 | ||||||||||
Equity attributable to preferred noteholders | 631 | |||||||||||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 39 | ||||||||||
Total equity | 52,432 | $ 51,429 | 52,046 | $ 53,627 | ||||||||||
Income statement | ||||||||||||||
Other income | 905 | 952 | 749 | |||||||||||
Total operating income | [1] | 30,642 | 30,044 | [2] | 28,831 | [2] | ||||||||
Operating profit / (loss) before tax | [1] | 5,458 | 5,076 | 4,188 | ||||||||||
Tax expense / (benefit) | [1] | 1,345 | 4,242 | 753 | ||||||||||
Net profit / (loss) | [1],[3] | 4,113 | 834 | 3,435 | ||||||||||
Net profit / (loss) attributable to preferred noteholders | 73 | 80 | ||||||||||||
Net profit / (loss) attributable to non-controlling interests | 7 | 4 | 4 | |||||||||||
Net profit / (loss) attributable to shareholders | $ 4,107 | 758 | 3,351 | |||||||||||
UBS AG | Under a USD presentation currency (restated) | ||||||||||||||
Equity | ||||||||||||||
Share capital | 338 | 338 | 338 | |||||||||||
Share premium | 24,633 | 27,154 | 27,126 | |||||||||||
Retained earnings | 22,189 | 21,480 | 22,664 | |||||||||||
Other comprehensive income recognized directly in equity, net of tax | 4,828 | 3,985 | 5,144 | |||||||||||
Equity attributable to shareholders | 51,987 | 52,957 | 55,272 | |||||||||||
Equity attributable to preferred noteholders | 631 | 1,951 | ||||||||||||
Equity attributable to non-controlling interests | 59 | 39 | 41 | |||||||||||
Total equity | 52,046 | 53,627 | 57,264 | |||||||||||
Income statement | ||||||||||||||
Other income | 952 | 749 | ||||||||||||
Total operating income | 30,044 | 28,831 | ||||||||||||
Operating profit / (loss) before tax | 5,076 | 4,188 | ||||||||||||
Tax expense / (benefit) | 4,242 | 753 | ||||||||||||
Net profit / (loss) | 834 | 3,435 | ||||||||||||
Net profit / (loss) attributable to preferred noteholders | 73 | 80 | ||||||||||||
Net profit / (loss) attributable to non-controlling interests | 4 | 4 | ||||||||||||
Net profit / (loss) attributable to shareholders | 758 | 3,351 | ||||||||||||
UBS AG | USD based on a simple translation of CHF presentation currency | ||||||||||||||
Equity | ||||||||||||||
Share capital | [4] | 396 | 379 | 385 | ||||||||||
Share premium | [4] | 27,663 | 28,989 | 29,429 | ||||||||||
Retained earnings | [4] | 29,855 | 27,771 | 29,385 | ||||||||||
Other comprehensive income recognized directly in equity, net of tax | [4] | (5,884) | (4,415) | (4,040) | ||||||||||
Equity attributable to shareholders | [4] | 52,030 | 52,724 | 55,157 | ||||||||||
Equity attributable to preferred noteholders | [4] | 631 | 1,951 | |||||||||||
Equity attributable to non-controlling interests | [4] | 58 | 39 | 41 | ||||||||||
Total equity | [4] | $ 52,088 | $ 53,393 | $ 57,149 | ||||||||||
Income statement | ||||||||||||||
Other income | [4] | 956 | 689 | |||||||||||
Total operating income | [4] | 30,049 | 28,770 | |||||||||||
Operating profit / (loss) before tax | [4] | 5,080 | 4,128 | |||||||||||
Tax expense / (benefit) | [4] | 4,171 | 792 | |||||||||||
Net profit / (loss) | [4] | 909 | 3,336 | |||||||||||
Net profit / (loss) attributable to preferred noteholders | [4] | 73 | 80 | |||||||||||
Net profit / (loss) attributable to non-controlling interests | [4] | 4 | 4 | |||||||||||
Net profit / (loss) attributable to shareholders | [4] | $ 833 | $ 3,252 | |||||||||||
UBS AG | Under a CHF presentation currency | ||||||||||||||
Equity | ||||||||||||||
Share capital | SFr | 386 | 386 | 386 | |||||||||||
Share premium | SFr | 26,966 | 29,505 | 29,477 | |||||||||||
Retained earnings | SFr | 29,102 | 28,265 | 29,433 | |||||||||||
Other comprehensive income recognized directly in equity, net of tax | SFr | (5,736) | (4,494) | (4,047) | |||||||||||
Equity attributable to shareholders | SFr | 50,718 | 53,662 | 55,248 | |||||||||||
Equity attributable to preferred noteholders | SFr | 642 | 1,954 | ||||||||||||
Equity attributable to non-controlling interests | SFr | 57 | 40 | 41 | |||||||||||
Total equity | SFr | 50,775 | 54,343 | SFr 57,243 | |||||||||||
Income statement | ||||||||||||||
Other income | SFr | 939 | 685 | ||||||||||||
Total operating income | SFr | 29,479 | 28,421 | ||||||||||||
Operating profit / (loss) before tax | SFr | 4,998 | 4,069 | ||||||||||||
Tax expense / (benefit) | SFr | 4,077 | 781 | ||||||||||||
Net profit / (loss) | SFr | 921 | 3,288 | ||||||||||||
Net profit / (loss) attributable to preferred noteholders | SFr | 72 | 78 | ||||||||||||
Net profit / (loss) attributable to non-controlling interests | SFr | 4 | 4 | ||||||||||||
Net profit / (loss) attributable to shareholders | SFr | SFr 845 | SFr 3,207 | ||||||||||||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||||||||
[2] | 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. | |||||||||||||
[3] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | |||||||||||||
[4] | Amounts presented in this column represent a translation of the previously published information under a Swiss franc presentation currency, translated to US dollars using a simplified approach. Assets, liabilities and equity were translated to US dollars at closing exchange rates prevailing on the respective balance sheet dates, and income and expenses were translated at the respective average rates prevailing for the relevant periods. |
Retrospective amendments to UBS
Retrospective amendments to UBS Group balance sheet presentation (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | |||
Assets [Abstract] | ||||||||
Cash and balances at central banks | $ 108,370 | $ 90,045 | $ 90,045 | $ 105,883 | ||||
Loans and advances to banks (formerly: Due from banks) | 16,868 | 14,074 | 14,094 | 12,926 | ||||
Cash collateral receivables on derivative instruments | 23,602 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers (formerly: Loans) | 320,352 | 318,480 | 326,746 | 300,010 | ||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments (formerly: Positive replacement values) | 126,210 | [1],[2],[3],[4] | 121,285 | 121,285 | [1],[2],[3],[4] | 155,642 | ||
Investments in associates | 1,066 | 1,045 | 1,014 | |||||
Property, equipment and software | 9,348 | [5],[6] | 9,057 | 9,057 | [5],[6] | 8,186 | $ 8,186 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,105 | [7] | 10,182 | 10,056 | [7] | 13,158 | ||
Total assets | 958,489 | [8] | 938,812 | 939,279 | [8] | 918,906 | 918,906 | [8] |
Liabilities [Abstract] | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits (formerly: Due to customers) | 419,838 | 414,172 | 419,577 | 416,267 | ||||
Debt issued measured at amortized cost | 132,271 | [9] | 143,160 | 143,160 | [9] | 101,837 | ||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 28,943 | [10],[11],[12] | 31,251 | 31,251 | [10],[12] | 22,425 | ||
Derivative financial instruments (formerly: Negative replacement values) | 125,723 | [1],[2],[4],[10],[13] | 119,196 | 119,137 | [1],[2],[4],[10],[13] | 151,121 | ||
Provisions | 3,494 | 3,290 | 3,214 | 4,101 | ||||
Total liabilities | 905,386 | 886,851 | 886,725 | 865,320 | ||||
Total liabilities and equity | 958,489 | 938,812 | 939,279 | 918,906 | ||||
Former presentation prior to adoption of IFRS 9 | ||||||||
Assets [Abstract] | ||||||||
Cash and balances at central banks | 90,045 | |||||||
Loans and advances to banks (formerly: Due from banks) | 14,094 | |||||||
Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) | 12,714 | |||||||
Reverse repurchase agreements (newly included in Receivables from securities financing transactions) | 79,238 | |||||||
Cash collateral receivables on derivative instruments | 24,040 | |||||||
Loans and advances to customers (formerly: Loans) | 327,833 | |||||||
Financial assets held to maturity (superseded) | 9,403 | |||||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | 134,087 | |||||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,277 | |||||||
Derivative financial instruments (formerly: Positive replacement values) | 121,285 | |||||||
Financial assets designated at fair value | 60,457 | |||||||
Financial assets available for sale (superseded) | 8,889 | |||||||
Investments in associates | 1,045 | |||||||
Property, equipment and software | 9,057 | |||||||
Goodwill and intangible assets | 6,563 | |||||||
Deferred tax assets | 10,056 | |||||||
Other assets (superseded) | 30,474 | |||||||
Total assets | 939,279 | |||||||
Liabilities [Abstract] | ||||||||
Amounts due to banks | 7,728 | |||||||
Cash collateral on securities lent (newly included in Payables from securities financing transactions) | 1,835 | |||||||
Repurchase agreements (newly included in Payables from securities financing transactions) | 15,650 | |||||||
Cash collateral payables on derivative instruments | 31,029 | |||||||
Customer deposits (formerly: Due to customers) | 419,577 | |||||||
Debt issued measured at amortized cost | 143,160 | |||||||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 31,251 | |||||||
Derivative financial instruments (formerly: Negative replacement values) | 119,137 | |||||||
Financial liabilities designated at fair value (superseded) | 55,604 | |||||||
Provisions | 3,214 | |||||||
Other liabilities (superseded) | 58,540 | |||||||
Total liabilities | 886,725 | |||||||
Total liabilities and equity | 939,279 | |||||||
UBS AG | ||||||||
Assets [Abstract] | ||||||||
Cash and balances at central banks | 108,370 | 90,045 | 90,045 | 105,883 | ||||
Loans and advances to banks (formerly: Due from banks) | 16,642 | 14,027 | 14,047 | 12,896 | ||||
Cash collateral receivables on derivative instruments | 23,603 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers (formerly: Loans) | 321,482 | 320,687 | 328,952 | 300,678 | ||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments (formerly: Positive replacement values) | 126,212 | [1],[2],[3],[4] | 121,286 | 121,286 | [1],[2],[3],[4] | 155,642 | ||
Investments in associates | 1,066 | 1,045 | 1,014 | |||||
Property, equipment and software | 8,479 | [14],[15] | 8,191 | 8,191 | [14],[15] | 8,152 | 8,152 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,066 | [7] | 10,118 | 9,993 | [7] | 13,147 | ||
Total assets | 958,055 | [8] | 939,554 | 940,020 | [8] | 919,236 | $ 919,236 | [8] |
Liabilities [Abstract] | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits (formerly: Due to customers) | 421,986 | 417,653 | 423,058 | 418,129 | ||||
Debt issued measured at amortized cost | 91,245 | [9] | 107,458 | 107,458 | [9] | 77,617 | ||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 28,949 | [10],[11],[12] | 31,251 | 31,251 | [10],[12] | 22,426 | ||
Derivative financial instruments (formerly: Negative replacement values) | 125,723 | [1],[2],[4],[10],[13] | 119,197 | 119,138 | [1],[2],[4],[10],[13] | 151,121 | ||
Provisions | 3,457 | 3,240 | 3,164 | 4,097 | ||||
Total liabilities | 905,624 | 888,100 | 887,974 | 865,610 | ||||
Total liabilities and equity | $ 958,055 | $ 939,554 | 940,020 | $ 919,236 | ||||
UBS AG | Former presentation prior to adoption of IFRS 9 | ||||||||
Assets [Abstract] | ||||||||
Cash and balances at central banks | 90,045 | |||||||
Loans and advances to banks (formerly: Due from banks) | 14,047 | |||||||
Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) | 12,714 | |||||||
Reverse repurchase agreements (newly included in Receivables from securities financing transactions) | 79,238 | |||||||
Cash collateral receivables on derivative instruments | 24,040 | |||||||
Loans and advances to customers (formerly: Loans) | 330,038 | |||||||
Financial assets held to maturity (superseded) | 9,403 | |||||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | 134,190 | |||||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,277 | |||||||
Derivative financial instruments (formerly: Positive replacement values) | 121,286 | |||||||
Financial assets designated at fair value | 60,070 | |||||||
Financial assets available for sale (superseded) | 8,889 | |||||||
Investments in associates | 1,045 | |||||||
Property, equipment and software | 8,191 | |||||||
Goodwill and intangible assets | 6,563 | |||||||
Deferred tax assets | 9,993 | |||||||
Other assets (superseded) | 30,268 | |||||||
Total assets | 940,020 | |||||||
Liabilities [Abstract] | ||||||||
Amounts due to banks | 7,728 | |||||||
Cash collateral on securities lent (newly included in Payables from securities financing transactions) | 1,835 | |||||||
Repurchase agreements (newly included in Payables from securities financing transactions) | 15,650 | |||||||
Cash collateral payables on derivative instruments | 31,029 | |||||||
Customer deposits (formerly: Due to customers) | 458,705 | |||||||
Debt issued measured at amortized cost | 107,458 | |||||||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 31,251 | |||||||
Derivative financial instruments (formerly: Negative replacement values) | 119,138 | |||||||
Financial liabilities designated at fair value (superseded) | 55,604 | |||||||
Provisions | 3,164 | |||||||
Other liabilities (superseded) | 56,412 | |||||||
Total liabilities | 887,974 | |||||||
Total liabilities and equity | $ 940,020 | |||||||
[1] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | |||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | |||||||
[3] | PRV: positive replacement value. | |||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | |||||||
[5] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[6] | Includes USD 26 million related to leased assets, mainly Own-used properties. | |||||||
[7] | Less deferred tax liabilities as applicable. | |||||||
[8] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||
[9] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||||
[10] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||||||
[11] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | |||||||
[12] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | |||||||
[13] | NRV: negative replacement value. | |||||||
[14] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[15] | Includes USD 22 million related to leased assets, mainly Own-used properties. |
Transition to expected credit l
Transition to expected credit loss requirements (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Explanation Of Initial Application Of Impairment Requirements For Financial Instruments Explanatory | 5) Transition to IFRS 9 as of 1 January 2018 Transition to classification and measurement requirements As set out in the amended accounting policies in Note 1a, IFRS 9 requires all financial assets, except equity instruments and derivatives, to be classified at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss (FVTPL), based on the business model for managing the respective assets and their contractual cash flow characteristics. Changes resulting from the application of IFRS 9 classification and measurement requirements as of 1 January 2018 have been ap plied as follows: Determination of the business model was made based on facts and circumstances as of the 1 January 2018 transition date; De-designations and new designations of financial instruments at FVTPL, pursuant to transition requirements of IFRS 9, have been carried out as of 1 January 2018. These reassessments resulted in: i. the de-designation of certain financial assets designated at FVTPL, as they are managed on a fair value basis, and therefore mandatorily measured at fair value, or are no long er managed on a fair value basis but held to collect the contractual cash flows and therefore measured at amortized cost; and ii. the new designations of financial liabilities at FVTPL (e.g., brokerage payables) in order to achieve measurement consistency with associated financial assets that are mandatorily measured at FVTPL (e.g., brokerage receivables). For UBS, the most significant IFRS 9 classification and measurement changes on transition to IFRS 9 were as follows: financial assets that no longer qua lify for amortized cost accounting under IFRS 9 have been classified at FVTPL because their cash flow characteristics do not satisfy the solely payments of principal and interest criterion (e.g., auction rate securities and certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 are classified at FVTPL because the business model within which they are managed does not have an objective to hold financial assets in order to collect the contractual cash flows or to collect contractual cash flows and sell (e.g., certain Investment Bank lending arrangements); equity instruments classified as available for sale under IAS 39 are classified at FVTPL under IFRS 9; and financial liabilities are newly desig nated under IFRS 9 at FVTPL, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at FVTPL (e.g., brokerage payables). Effect on UBS Group income statement presentation Upon adoption of IF RS 9, the reclassification of auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances from amortized cost to FVTPL has resulted in the interest income from these instruments moving from Interest i ncome (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss. These changes have been applied prospectively from 1 January 2018. Effect on UBS Gr oup statement of cash flows Following the adoption of IFRS 9, changes have been made to the statement of cash flows to reflect the changes arising from financial instruments that have been reclassified on the balance sheet. In particular, cash flows from certain financial assets prev iously measured as available-for-sale assets at fair value through other comprehensive income have been reclassified from investing activities to operating activities as the assets are measured at fair value through profit or loss effective 1 January 2018. Transition to expected credit loss requirements As set out in the Group’s amended accounting policies in Note 1a), IFRS 9 introduced a forward-looking ECL approach, which is intended to result in an earlier recognition of credit losses compared with the incurred-loss impairment approach for financial instruments under IAS 39 and the loss-provisioning approach for financial guarantees and loan commitments under IAS 37, Provisions, Contingent Liabilities and Contingent Assets . The majority of ECL calculated as of the transition date relate to the private and commercial mortgage portfolio and corporate lending in Switzerland within Personal & Corporate Banking. Models at transition For the purpose of implementing ECL under IFRS 9, UBS has leveraged exist ing Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Existing models have been adapted and 29 new models have been develope d for the ECL calculation that consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that the probabilities of default (PD) and the loss given default (LGD) used in the ECL calculation are point-in-time-bas ed as opposed to the corresponding Basel III TTC parameters. Management adjustments have also been made. UBS has leveraged its existing model risk framework, including the key model validation control executed by Model Risk Management & Control. New and re vised models have been approved by UBS’s Group Model Governance Board. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III remain unchanged. Refer to “Credit risk models” in the “ Risk management and control ” section of this report for more information Scenarios and scenario weights at transition As outlined in Note 1a), UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. ECL calculated on transition have been determined for each of the scenarios and subsequently weighted based on the probabilities in the table “Economic scenarios and weights applied.” UBS has established IFRS 9 ECL Scenario and Operating Committees to propose and approve the selection of the scenarios and weights to be applied and to monitor whether appropriate governance exists. Macroeconomic and other factors at transition Assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of the economic scenarios to determine ECL at the date of transition can be summarized as follows. For the baseline scenario, which is modeled along our business plan assumptions of a continuation of overall important global growth, Swiss GDP growth remains between 1% and 2% annually over the three years of the scenario. Moderate growth results in a very mild increase of unemployment, which stabilizes at around 3.5%. Asset price g rowth is also moderate, with the Swiss equity price index rising by approximately 8% annually, while house prices grow by less than 1% annually. Policy rates, short-term interest rates and government bond yields increase very gradually over the three years of the scenario by approximately 50 basis points. GDP growth in the US remains relatively stable, and faster than in Switzerland. Monetary policy tightens at a similar pace to Switzerland and, combined with a modest decline in the unemployment rate, helps to keep inflation in check. US equity prices slightly underperform their Swiss counterparts, while house prices outperform relatively stagnant Swiss house price growth. In the rest of the world, growth remains buoyant, with moderating growth in both Europ e and China contrasting with accelerating growth in other emerging markets. In the upside scenario, which assumes GDP growth rising above trend in most countries with only a moderate rise in inflation and ongoing accommodative monetary policies, GDP growt h in Switzerland peaks at around 5% annually. Strong growth leads to a decline in unemployment to very low levels (below 1%) by 2020. Asset prices grow at a robust pace, with equity prices increasing approximately 10% annually and house prices (single-fami ly homes) rising approximately 4% annually. Policy and short-term interest rates remain low over the entire scenario, while government bond yields experience a sustained increase. In the US and the rest of the world, the scenario shows broadly similar features, with growth accelerating in Year 1 before steadily returning toward trend by Year 3. Specifically in the US, GDP growth accelerates at a slightly faster pace than in Switzerl and, although the US experiences a slightly less substantial improvement in the unemployment rate by Year 3. The degree of policy tightening is marginally greater over the scenario horizon and, as in Switzerland, long-term government bond yields rise more significantly than short-term rates, and to a greater degr ee. The mild downside scenario is based on a monetary policy tightening assumption, implemented to deflate a potential asset price bubble, causing Swiss GDP to decline by almost 1% in the first year of the scenario. The unemployment rate rises to roughly 5%. Equity prices fall by more than 20% over three years, while house prices decline by 15% over the same period. The fall of the nominal asking rent index, which is cushioned by higher in terest rates, is more moderate than the decline in house prices. Short-term interest rates rise significantly as a result of monetary tightening, as well as government bond yields. In this scenario, inflation in the US accelerates rapidly, leading to a sha rp rise in short-term interest rates, with a similar development in Switzerland. GDP growth and house prices decline at a similar rate in the US and Switzerland. In the rest of the world, growth is also weighed down, particularly in more vulnerable emergin g markets such as Russia, Turkey and Brazil, as interest rates and credit spreads rise sharply. The severe downside scenario is modeled to mimic a severe recession caused by an event affecting Switzerland’s competitiveness in key export markets, with Swiss GDP shrinking almost 7% in the first year of the scenario. The severe recession results in a substantial increase in unemployment, which peaks at around 9%. Asset prices plummet, with the Swiss equity index falling more than 55% over three years, and hous e prices declining 27% over the same period. Policy and short-term interest rates remain low over the entire scenario horizon. US GDP and unemployment deteriorate by a lesser degree than in Switzerland, and while house and equity prices decline sharply, th e effects are also less severe than in Switzerland. With more scope to cut rates than the Swiss National Bank, short-term rates fall in the US. In the rest of the world, growth also slows sharply, particularly in the eurozone and neighboring emerging marke ts, such as Turkey and Russia. Refer to Note 10 for more information ECL measurement period at transition As set out in Note 1a), for the majority of ECL-relevant instruments, the contractual maturity is used to calculate the measurement period, with this capped at 12 months when stage 1 ECL are required. In addition, for credit card limits and Swiss callable master credit facilities, judgment is required as UBS must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit cards and 12 months for master credit facilities. UBS’s ECL-relevant financial instruments have relatively short average maturities, which significantly contribute to the level of ECL on transition. SICR determination at transition The identification of instruments for which a significant increase in credit risk (SICR) has been determined since initial recognition, and the corresponding allocation to stage 2 at transition, generally follow the principles described in the relevant accoun ting policy provided in Note 1a). Furthermore, the following principles have been applied. General: In estimating the retrospective lifetime PDs, the economic conditions over the relevant prior periods and the general significant uncertainty inherent in su ch approximation have been considered to determine the allocation of instruments to stage 2 at transition. Real estate financing: The Basel III rating methodology applied to the majority of income-producing real estate financings within Personal & Corpora te Banking, which is leveraged for IFRS 9 ECL calculations, was significantly changed in 2017. As a consequence, there is no comparable rating on origination to determine whether an SICR has arisen over time. As permitted by the IFRS 9 transition requireme nts, a lifetime ECL allowance has therefore been recognized for certain real estate financing positions and will continue to be recognized until the positions are derecognized. Other portfolios, including private mortgages and commercial SME clients: The B asel III rating models for other key portfolios in Personal & Corporate Banking, in particular for private client mortgages and commercial clients in the small and medium-sized enterprise segment, have recently been subject to a major redesign. While the m ethodology remained essentially the same and the calibration to the portfolios’ average TTC PD value unchanged, the effect on the stage allocation is significant. This is due to the fact that the introduction of new models has led to a broader and differen t distribution of borrowers across the rating spectrum; while there was no material effect on those counterparties with an uplift in their rating, some of those that had a downward shift in their rating triggered the SICR threshold and a reclassification i nto stage 2 at transition. |
UBS AG [Member] | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |
Explanation Of Initial Application Of Impairment Requirements For Financial Instruments Explanatory | 5) Transition to IFRS 9 as of 1 January 2018 Transition to classification and measurement requirements As set out in the amended accounting policies in Note 1a, IFRS 9 requires all financial assets, except equity instruments and derivatives, to be classified at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss (FVTPL), based on the business model for managing the respective assets and their contractual cash flow characteristics. Changes resulting from the application of IFRS 9 classification and measurement requirements as of 1 January 2018 have been ap plied as follows: Determination of the business model was made based on facts and circumstances as of the 1 January 2018 transition date; De-designations and new designations of financial instruments at FVTPL, pursuant to transition requirements of IFRS 9, have been carried out as of 1 January 2018. These reassessments resulted in: i. the de-designation of certain financial assets designated at FVTPL, as they are managed on a fair value basis, and therefore mandatorily measured at fair value, or are no long er managed on a fair value basis but held to collect the contractual cash flows and therefore measured at amortized cost; and ii. the new designations of financial liabilities at FVTPL (e.g., brokerage payables) in order to achieve measurement consistency with associated financial assets that are mandatorily measured at FVTPL (e.g., brokerage receivables). For UBS, the most significant IFRS 9 classification and measurement changes on transition to IFRS 9 were as follows: financial assets that no longer qua lify for amortized cost accounting under IFRS 9 have been classified at FVTPL because their cash flow characteristics do not satisfy the solely payments of principal and interest criterion (e.g., auction rate securities and certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 are classified at FVTPL because the business model within which they are managed does not have an objective to hold financial assets in order to collect the contractual cash flows or to collect contractual cash flows and sell (e.g., certain Investment Bank lending arrangements); equity instruments classified as available for sale under IAS 39 are classified at FVTPL under IFRS 9; and financial liabilities are newly desig nated under IFRS 9 at FVTPL, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at FVTPL (e.g., brokerage payables). Effect on UBS Group income statement presentation Upon adoption of IF RS 9, the reclassification of auction rate securities, certain loans in the Investment Bank, certain repurchase agreements and brokerage balances from amortized cost to FVTPL has resulted in the interest income from these instruments moving from Interest i ncome (expense) from financial instruments measured at amortized cost to Interest income (expense) from financial instruments measured at fair value through profit or loss. These changes have been applied prospectively from 1 January 2018. Effect on UBS Gr oup statement of cash flows Following the adoption of IFRS 9, changes have been made to the statement of cash flows to reflect the changes arising from financial instruments that have been reclassified on the balance sheet. In particular, cash flows from certain financial assets prev iously measured as available-for-sale assets at fair value through other comprehensive income have been reclassified from investing activities to operating activities as the assets are measured at fair value through profit or loss effective 1 January 2018. Transition to expected credit loss requirements As set out in the Group’s amended accounting policies in Note 1a), IFRS 9 introduced a forward-looking ECL approach, which is intended to result in an earlier recognition of credit losses compared with the incurred-loss impairment approach for financial instruments under IAS 39 and the loss-provisioning approach for financial guarantees and loan commitments under IAS 37, Provisions, Contingent Liabilities and Contingent Assets . The majority of ECL calculated as of the transition date relate to the private and commercial mortgage portfolio and corporate lending in Switzerland within Personal & Corporate Banking. Models at transition For the purpose of implementing ECL under IFRS 9, UBS has leveraged exist ing Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. Existing models have been adapted and 29 new models have been develope d for the ECL calculation that consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that the probabilities of default (PD) and the loss given default (LGD) used in the ECL calculation are point-in-time-bas ed as opposed to the corresponding Basel III TTC parameters. Management adjustments have also been made. UBS has leveraged its existing model risk framework, including the key model validation control executed by Model Risk Management & Control. New and re vised models have been approved by UBS’s Group Model Governance Board. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III remain unchanged. Refer to “Credit risk models” in the “ Risk management and control ” section of this report for more information Scenarios and scenario weights at transition As outlined in Note 1a), UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. ECL calculated on transition have been determined for each of the scenarios and subsequently weighted based on the probabilities in the table “Economic scenarios and weights applied.” UBS has established IFRS 9 ECL Scenario and Operating Committees to propose and approve the selection of the scenarios and weights to be applied and to monitor whether appropriate governance exists. Macroeconomic and other factors at transition Assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of the economic scenarios to determine ECL at the date of transition can be summarized as follows. For the baseline scenario, which is modeled along our business plan assumptions of a continuation of overall important global growth, Swiss GDP growth remains between 1% and 2% annually over the three years of the scenario. Moderate growth results in a very mild increase of unemployment, which stabilizes at around 3.5%. Asset price g rowth is also moderate, with the Swiss equity price index rising by approximately 8% annually, while house prices grow by less than 1% annually. Policy rates, short-term interest rates and government bond yields increase very gradually over the three years of the scenario by approximately 50 basis points. GDP growth in the US remains relatively stable, and faster than in Switzerland. Monetary policy tightens at a similar pace to Switzerland and, combined with a modest decline in the unemployment rate, helps to keep inflation in check. US equity prices slightly underperform their Swiss counterparts, while house prices outperform relatively stagnant Swiss house price growth. In the rest of the world, growth remains buoyant, with moderating growth in both Europ e and China contrasting with accelerating growth in other emerging markets. In the upside scenario, which assumes GDP growth rising above trend in most countries with only a moderate rise in inflation and ongoing accommodative monetary policies, GDP growt h in Switzerland peaks at around 5% annually. Strong growth leads to a decline in unemployment to very low levels (below 1%) by 2020. Asset prices grow at a robust pace, with equity prices increasing approximately 10% annually and house prices (single-fami ly homes) rising approximately 4% annually. Policy and short-term interest rates remain low over the entire scenario, while government bond yields experience a sustained increase. In the US and the rest of the world, the scenario shows broadly similar features, with growth accelerating in Year 1 before steadily returning toward trend by Year 3. Specifically in the US, GDP growth accelerates at a slightly faster pace than in Switzerl and, although the US experiences a slightly less substantial improvement in the unemployment rate by Year 3. The degree of policy tightening is marginally greater over the scenario horizon and, as in Switzerland, long-term government bond yields rise more significantly than short-term rates, and to a greater degr ee. The mild downside scenario is based on a monetary policy tightening assumption, implemented to deflate a potential asset price bubble, causing Swiss GDP to decline by almost 1% in the first year of the scenario. The unemployment rate rises to roughly 5%. Equity prices fall by more than 20% over three years, while house prices decline by 15% over the same period. The fall of the nominal asking rent index, which is cushioned by higher in terest rates, is more moderate than the decline in house prices. Short-term interest rates rise significantly as a result of monetary tightening, as well as government bond yields. In this scenario, inflation in the US accelerates rapidly, leading to a sha rp rise in short-term interest rates, with a similar development in Switzerland. GDP growth and house prices decline at a similar rate in the US and Switzerland. In the rest of the world, growth is also weighed down, particularly in more vulnerable emergin g markets such as Russia, Turkey and Brazil, as interest rates and credit spreads rise sharply. The severe downside scenario is modeled to mimic a severe recession caused by an event affecting Switzerland’s competitiveness in key export markets, with Swiss GDP shrinking almost 7% in the first year of the scenario. The severe recession results in a substantial increase in unemployment, which peaks at around 9%. Asset prices plummet, with the Swiss equity index falling more than 55% over three years, and hous e prices declining 27% over the same period. Policy and short-term interest rates remain low over the entire scenario horizon. US GDP and unemployment deteriorate by a lesser degree than in Switzerland, and while house and equity prices decline sharply, th e effects are also less severe than in Switzerland. With more scope to cut rates than the Swiss National Bank, short-term rates fall in the US. In the rest of the world, growth also slows sharply, particularly in the eurozone and neighboring emerging marke ts, such as Turkey and Russia. Refer to Note 10 for more information ECL measurement period at transition As set out in Note 1a), for the majority of ECL-relevant instruments, the contractual maturity is used to calculate the measurement period, with this capped at 12 months when stage 1 ECL are required. In addition, for credit card limits and Swiss callable master credit facilities, judgment is required as UBS must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit cards and 12 months for master credit facilities. UBS’s ECL-relevant financial instruments have relatively short average maturities, which significantly contribute to the level of ECL on transition. SICR determination at transition The identification of instruments for which a significant increase in credit risk (SICR) has been determined since initial recognition, and the corresponding allocation to stage 2 at transition, generally follow the principles described in the relevant accoun ting policy provided in Note 1a). Furthermore, the following principles have been applied. General: In estimating the retrospective lifetime PDs, the economic conditions over the relevant prior periods and the general significant uncertainty inherent in su ch approximation have been considered to determine the allocation of instruments to stage 2 at transition. Real estate financing: The Basel III rating methodology applied to the majority of income-producing real estate financings within Personal & Corpora te Banking, which is leveraged for IFRS 9 ECL calculations, was significantly changed in 2017. As a consequence, there is no comparable rating on origination to determine whether an SICR has arisen over time. As permitted by the IFRS 9 transition requireme nts, a lifetime ECL allowance has therefore been recognized for certain real estate financing positions and will continue to be recognized until the positions are derecognized. Other portfolios, including private mortgages and commercial SME clients: The B asel III rating models for other key portfolios in Personal & Corporate Banking, in particular for private client mortgages and commercial clients in the small and medium-sized enterprise segment, have recently been subject to a major redesign. While the m ethodology remained essentially the same and the calibration to the portfolios’ average TTC PD value unchanged, the effect on the stage allocation is significant. This is due to the fact that the introduction of new models has led to a broader and differen t distribution of borrowers across the rating spectrum; while there was no material effect on those counterparties with an uplift in their rating, some of those that had a downward shift in their rating triggered the SICR threshold and a reclassification i nto stage 2 at transition. |
Reclassification and remeasurem
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (Detail) - USD ($) $ in Millions | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | [1] | $ (118) | $ (131) | $ (38) | |
Total assets | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | $ (251) | ||||
Recognition of ECL (IFRS 9) | (216) | ||||
Total financial assets measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (32,131) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (282) | ||||
Cash and balances at central banks | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 0 | ||||
Loans and advances to banks | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (17) | ||||
Recognition of ECL (IFRS 9) | (3) | ||||
Receivables from securities financing transactions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (5,085) | ||||
Recognition of ECL (IFRS 9) | (2) | ||||
Cash collateral receivables on derivative instruments | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 0 | ||||
Loans and advances to customers | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (8,024) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (241) | ||||
Other financial assets measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (19,004) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (36) | ||||
Total financial assets measured at fair value through profit or loss | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 34,090 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (310) | ||||
Financial assets at fair value held for trading | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (11,135) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (16) | ||||
Brokerage receivables mandatorily measured at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 24,403 | ||||
Financial assets at fair value not held for trading | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 20,822 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (295) | ||||
Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (1,960) | ||||
Deferred tax assets | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 59 | ||||
Recognition of ECL (IFRS 9) | 66 | ||||
Liabilities | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 76 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 50 | ||||
Total financial liabilities measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (41,030) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (4) | ||||
Payables from securities financing transactions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,212) | ||||
Customer deposits | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,404) | ||||
Other financial liabilities measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (30,413) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (4) | ||||
Total financial liabilities measured at fair value through profit or loss | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 41,030 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 54 | ||||
Derivative financial liabilities | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 59 | ||||
Brokerage payable designated at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 35,818 | ||||
Other financial liabilities designated at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 5,212 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (5) | ||||
Provisions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 76 | ||||
Total equity | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
Total equity attributable to shareholders | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
Retained earnings | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 74 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
Other comprehensive income recognized directly in equity, net of tax | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Equity | (74) | ||||
Total liabilities and equity | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (216) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (251) | ||||
UBS AG [Member] | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | [1] | $ (117) | $ (131) | $ (38) | |
UBS AG [Member] | Total assets | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (251) | ||||
Recognition of ECL (IFRS 9) | (216) | ||||
UBS AG [Member] | Total financial assets measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (32,131) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (282) | ||||
UBS AG [Member] | Cash and balances at central banks | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 0 | ||||
UBS AG [Member] | Loans and advances to banks | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (17) | ||||
Recognition of ECL (IFRS 9) | (3) | ||||
UBS AG [Member] | Receivables from securities financing transactions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (5,085) | ||||
Recognition of ECL (IFRS 9) | (2) | ||||
UBS AG [Member] | Cash collateral receivables on derivative instruments | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 0 | ||||
UBS AG [Member] | Loans and advances to customers | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (8,024) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (241) | ||||
UBS AG [Member] | Other financial assets measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (19,004) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | ||||
Recognition of ECL (IFRS 9) | (36) | ||||
UBS AG [Member] | Total financial assets measured at fair value through profit or loss | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 34,090 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (310) | ||||
UBS AG [Member] | Financial assets at fair value held for trading | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (11,135) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (16) | ||||
UBS AG [Member] | Brokerage receivables mandatorily measured at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 24,403 | ||||
UBS AG [Member] | Financial assets at fair value not held for trading | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | 20,822 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (295) | ||||
UBS AG [Member] | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Assets | (1,960) | ||||
UBS AG [Member] | Deferred tax assets | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 59 | ||||
Recognition of ECL (IFRS 9) | 66 | ||||
UBS AG [Member] | Liabilities | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 76 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 50 | ||||
UBS AG [Member] | Total financial liabilities measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (41,030) | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (4) | ||||
UBS AG [Member] | Payables from securities financing transactions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,212) | ||||
UBS AG [Member] | Customer deposits | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,404) | ||||
UBS AG [Member] | Other financial liabilities measured at amortized cost | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (30,413) | ||||
UBS AG [Member] | Total financial liabilities measured at fair value through profit or loss | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 41,030 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 54 | ||||
UBS AG [Member] | Derivative financial liabilities | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 59 | ||||
UBS AG [Member] | Brokerage payable designated at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 35,818 | ||||
UBS AG [Member] | Other financial liabilities designated at fair value | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 5,212 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (5) | ||||
UBS AG [Member] | Provisions | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | 76 | ||||
UBS AG [Member] | Total equity | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
UBS AG [Member] | Total equity attributable to shareholders | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
UBS AG [Member] | Retained earnings | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (291) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 74 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (300) | ||||
UBS AG [Member] | Other comprehensive income recognized directly in equity, net of tax | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Reclassification (of IAS 39 carrying amounts), Equity | (74) | ||||
UBS AG [Member] | Total liabilities and equity | |||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||||
Recognition of ECL (IFRS 9) | (216) | ||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | ||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | $ (251) | ||||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes |
Reclassifications upon adoption
Reclassifications upon adoption of IFRS 9 (Detail) $ in Millions | Jan. 01, 2018USD ($) |
Loans and advances to banks, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | $ (17) |
Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,085) |
Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (2,747) |
Loans and advances to customers, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (4,812) |
Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (480) |
Loans and advances to customers, from: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 9 |
Loans and advances to customers, from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 6 |
Other financial assets measured at amortized cost; to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (19,573) |
Other financial assets measured at amortized cost; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 569 |
Financial assets at fair value held for trading, to: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (6) |
Financial assets at fair value held for trading, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (11,609) |
Financial assets at fair value held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 480 |
Brokerage receivables, from: Loans and advances to banks | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 17 |
Brokerage receivables, from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 4,812 |
Brokerage receivables, from: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 19,573 |
Financial assets at fair value not held for trading; to: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (9) |
Financial assets at fair value not held for trading; from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 11,609 |
Financial assets at fair value not held for trading; from: Receivables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,085 |
Financial assets at fair value not held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,747 |
Financial assets at fair value not held for trading; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 1,391 |
Financial assets measured at fair value through other comprehensive income, to: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (569) |
Financial assets measured at fair value through other comprehensive income, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (1,391) |
Payables from securities financing transactions, to: Other financial liabilities designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,212) |
Customer deposits, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,404) |
Other financial liabilities measured at amortized cost, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (30,413) |
Brokerage payables designated at fair value, from: Customer deposits | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,404 |
Brokerage payables designated at fair value, from: Other financial liabilities measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 30,413 |
Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,212 |
Derecognition from Other financial liabilities measured at amortized cost: Deferred fees on other loan commitments | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (4) |
UBS AG | Loans and advances to banks, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (17) |
UBS AG | Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,085) |
UBS AG | Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (2,747) |
UBS AG | Loans and advances to customers, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (4,812) |
UBS AG | Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (480) |
UBS AG | Loans and advances to customers, from: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 9 |
UBS AG | Loans and advances to customers, from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 6 |
UBS AG | Other financial assets measured at amortized cost; to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (19,573) |
UBS AG | Other financial assets measured at amortized cost; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 569 |
UBS AG | Financial assets at fair value held for trading, to: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (6) |
UBS AG | Financial assets at fair value held for trading, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (11,609) |
UBS AG | Financial assets at fair value held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 480 |
UBS AG | Brokerage receivables, from: Loans and advances to banks | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 17 |
UBS AG | Brokerage receivables, from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 4,812 |
UBS AG | Brokerage receivables, from: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 19,573 |
UBS AG | Financial assets at fair value not held for trading; to: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (9) |
UBS AG | Financial assets at fair value not held for trading; from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 11,609 |
UBS AG | Financial assets at fair value not held for trading; from: Receivables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,085 |
UBS AG | Financial assets at fair value not held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,747 |
UBS AG | Financial assets at fair value not held for trading; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 1,391 |
UBS AG | Financial assets measured at fair value through other comprehensive income, to: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (569) |
UBS AG | Financial assets measured at fair value through other comprehensive income, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (1,391) |
UBS AG | Payables from securities financing transactions, to: Other financial liabilities designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,212) |
UBS AG | Customer deposits, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,404) |
UBS AG | Other financial liabilities measured at amortized cost, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (30,413) |
UBS AG | Brokerage payables designated at fair value, from: Customer deposits | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,404 |
UBS AG | Brokerage payables designated at fair value, from: Other financial liabilities measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 30,413 |
UBS AG | Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,212 |
UBS AG | Derecognition from Other financial liabilities measured at amortized cost: Deferred fees on other loan commitments | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | $ (4) |
Carrying amounts upon adoption
Carrying amounts upon adoption of IFRS 9 (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | |||
Assets | ||||||||
Cash and balances at central banks | $ 108,370 | $ 90,045 | $ 90,045 | $ 105,883 | ||||
Loans and advances to banks | 16,868 | 14,074 | 14,094 | 12,926 | ||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | ||||
Cash collateral receivables on derivative instruments | 23,602 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers | 320,352 | 318,480 | 326,746 | 300,010 | ||||
Other financial assets measured at amortized cost | 22,563 | 18,775 | 37,815 | 27,115 | ||||
Total financial assets measured at amortized cost | 587,104 | 552,277 | 584,691 | 552,068 | ||||
Financial assets at fair value held for trading | 104,370 | [1] | 118,256 | 129,407 | [1] | 90,416 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments | 126,210 | [2],[3],[4],[5] | 121,285 | 121,285 | [2],[3],[4],[5] | 155,642 | ||
Brokerage receivables | 16,840 | 24,403 | ||||||
Financial assets at fair value not held for trading | 82,690 | [6] | 80,985 | 60,457 | [6] | 64,210 | ||
Total financial assets measured at fair value through profit or loss | 330,110 | 344,928 | 311,148 | 310,269 | ||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | ||
Investments in associates | 1,099 | 1,045 | 947 | $ 947 | ||||
Property, equipment and software | 9,348 | [8],[9] | 9,057 | 9,057 | [8],[9] | 8,186 | 8,186 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,105 | [10] | 10,182 | 10,056 | [10] | 13,158 | ||
Other non-financial assets | 7,410 | 7,830 | 7,830 | 12,434 | ||||
Total assets | 958,489 | [11] | 938,812 | 939,279 | [11] | 918,906 | 918,906 | [11] |
Liabilities | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Payables from securities financing transactions | 10,296 | 12,273 | 17,485 | 9,266 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits | 419,838 | 414,172 | 419,577 | 416,267 | ||||
Debt issued measured at amortized cost | 132,271 | [12] | 143,160 | 143,160 | [12] | 101,837 | ||
Other financial liabilities measured at amortized cost | 6,885 | 37,276 | 37,729 | |||||
Total financial liabilities measured at amortized cost | 609,158 | 656,255 | 610,410 | |||||
Financial liabilities at fair value held for trading | 28,943 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,425 | ||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,196 | 119,137 | [2],[3],[5],[13],[15] | 151,121 | ||
Brokerage payables designated at fair value | 38,420 | |||||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | |||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | |||
Total financial liabilities measured at fair value through profit or loss | 283,711 | 217,813 | 236,725 | |||||
Provisions | 3,494 | 3,290 | 3,214 | 4,101 | ||||
Other non-financial liabilities | 9,022 | 9,443 | 9,443 | 14,083 | ||||
Total liabilities | 905,386 | 886,851 | 886,725 | 865,320 | ||||
Equity | ||||||||
Share capital | 338 | 338 | 338 | 338 | ||||
Share premium | 20,843 | 23,598 | 23,598 | 25,958 | ||||
Treasury shares | (2,631) | (2,210) | (2,210) | (2,362) | ||||
Retained earnings | 30,448 | 25,415 | 25,932 | 25,029 | ||||
Other comprehensive income recognized directly in equity, net of tax | 3,930 | 4,764 | 4,838 | 3,953 | ||||
Equity attributable to shareholders | 52,928 | 51,905 | 52,495 | 52,916 | ||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 670 | ||||
Total equity | 53,103 | 51,938 | 52,554 | 53,586 | ||||
Total equity upon the adoption of IFRS 9 | 51,963 | |||||||
Total liabilities and equity | 958,489 | 938,812 | 939,279 | 918,906 | ||||
UBS AG | ||||||||
Assets | ||||||||
Cash and balances at central banks | 108,370 | 90,045 | 90,045 | 105,883 | ||||
Loans and advances to banks | 16,642 | 14,027 | 14,047 | 12,896 | ||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | ||||
Cash collateral receivables on derivative instruments | 23,603 | 24,040 | 24,040 | 26,198 | ||||
Loans and advances to customers | 321,482 | 320,687 | 328,952 | 300,678 | ||||
Other financial assets measured at amortized cost | 22,637 | 18,850 | 37,890 | 27,130 | ||||
Total financial assets measured at amortized cost | 588,084 | 554,512 | 586,925 | 552,721 | ||||
Financial assets at fair value held for trading | 104,513 | [1] | 118,359 | 129,509 | [1] | 90,501 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | ||||
Derivative financial instruments | 126,212 | [2],[3],[4],[5] | 121,286 | 121,286 | [2],[3],[4],[5] | 155,642 | ||
Brokerage receivables | 16,840 | 24,403 | ||||||
Financial assets at fair value not held for trading | 82,387 | [6] | 80,598 | 60,070 | [6] | 63,888 | ||
Total financial assets measured at fair value through profit or loss | 329,953 | 344,646 | 310,865 | 310,031 | ||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | ||
Investments in associates | 1,099 | 1,045 | 947 | 947 | ||||
Property, equipment and software | 8,479 | [17],[18] | 8,191 | 8,191 | [17],[18] | 8,152 | 8,152 | |
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | ||||
Deferred tax assets | 10,066 | [10] | 10,118 | 9,993 | [10] | 13,147 | ||
Other non-financial assets | 7,062 | 7,548 | 7,548 | 12,395 | ||||
Total assets | 958,055 | [11] | 939,554 | 940,020 | [11] | 919,236 | $ 919,236 | [11] |
Liabilities | ||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | ||||
Payables from securities financing transactions | 10,296 | 12,272 | 17,485 | 9,266 | ||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | ||||
Customer deposits | 421,986 | 417,653 | 423,058 | 418,129 | ||||
Funding from UBS Group AG and its subsidiaries | 41,202 | [19] | 35,648 | 35,648 | [19] | 24,201 | ||
Debt issued measured at amortized cost | 91,245 | [12] | 107,458 | 107,458 | [12] | 77,617 | ||
Other financial liabilities measured at amortized cost | 7,576 | 38,092 | 38,361 | |||||
Total financial liabilities measured at amortized cost | 612,174 | 660,498 | 612,884 | |||||
Financial liabilities at fair value held for trading | 28,949 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,426 | ||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,197 | 119,138 | [2],[3],[5],[13],[15] | 151,121 | ||
Brokerage payables designated at fair value | 38,420 | |||||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | |||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | |||
Total financial liabilities measured at fair value through profit or loss | 283,717 | 217,814 | 236,727 | |||||
Provisions | 3,457 | 3,240 | 3,164 | 4,097 | ||||
Other non-financial liabilities | 6,275 | 6,499 | 6,499 | 11,902 | ||||
Total liabilities | 905,624 | 888,100 | 887,974 | 865,610 | ||||
Equity | ||||||||
Share capital | 338 | 338 | 338 | 338 | ||||
Share premium | 24,655 | 24,633 | 24,633 | 27,154 | ||||
Retained earnings | 23,317 | 21,672 | 22,189 | 21,480 | ||||
Other comprehensive income recognized directly in equity, net of tax | 3,946 | 4,754 | 4,828 | 3,985 | ||||
Equity attributable to shareholders | 52,256 | 51,397 | 51,987 | 52,957 | ||||
Equity attributable to preferred noteholders | 631 | |||||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 39 | ||||
Total equity | 52,432 | 51,429 | 52,046 | 53,627 | ||||
Total equity upon the adoption of IFRS 9 | 51,455 | |||||||
Total liabilities and equity | $ 958,055 | $ 939,554 | $ 940,020 | $ 919,236 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | |||||||
[2] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | |||||||
[3] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | |||||||
[4] | PRV: positive replacement value. | |||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | |||||||
[6] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | |||||||
[7] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement | |||||||
[8] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[9] | Includes USD 26 million related to leased assets, mainly Own-used properties. | |||||||
[10] | Less deferred tax liabilities as applicable. | |||||||
[11] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||
[12] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||||
[13] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||||||
[14] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | |||||||
[15] | NRV: negative replacement value. | |||||||
[16] | As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. | |||||||
[17] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||||||
[18] | Includes USD 22 million related to leased assets, mainly Own-used properties. | |||||||
[19] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
Reclassification and remeasur_2
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 - Footnotes (Detail) $ in Millions | Jan. 01, 2018USD ($) |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | $ (310) |
Reversal of allowances (IAS 39) | 27 |
Deferred tax assets recognized, initial application of IFRS 9 | 126 |
Effect of adoption of IFRS 9 classification and measurement changes, pre-tax basis | (360) |
Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (1) |
Amount reclassified upon adoption of IFRS 9 | (5,085) |
Reclassified from Forward starting reverse repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | 11,787 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (293) |
Amount reclassified upon adoption of IFRS 9 | (2,747) |
Reversal of allowances (IAS 39) | 11 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Investment Bank | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 566 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 12 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Auction-rate securities | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,169 |
Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (16) |
Amount reclassified upon adoption of IFRS 9 | (480) |
Reversal of allowances (IAS 39) | 16 |
Loans and advances to customers, to: Financial assets at fair value held for trading | Loans | Investment Bank | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 566 |
Reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 15 |
Derecognized from Derivative liabilities | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2 |
Available for sale assets reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 636 |
Available for sale assets reclassified to Financial assets at fair value not held for trading | Equity instruments and Investment fund units | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 755 |
Financial assets designated at fair value reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 60,448 |
Financial assets designated at fair value reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 9 |
Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,212 |
Reclassified from Forward starting repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | 7,930 |
UBS AG | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (310) |
Reversal of allowances (IAS 39) | 27 |
Deferred tax assets recognized, initial application of IFRS 9 | 126 |
Effect of adoption of IFRS 9 classification and measurement changes, pre-tax basis | (360) |
UBS AG | Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (1) |
Amount reclassified upon adoption of IFRS 9 | (5,085) |
UBS AG | Reclassified from Forward starting reverse repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | 11,787 |
UBS AG | Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (293) |
Amount reclassified upon adoption of IFRS 9 | (2,747) |
Reversal of allowances (IAS 39) | 11 |
UBS AG | Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Investment Bank | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 566 |
UBS AG | Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 12 |
UBS AG | Loans and advances to customers, to: Financial assets at fair value not held for trading | Auction-rate securities | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,169 |
UBS AG | Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (16) |
Amount reclassified upon adoption of IFRS 9 | (480) |
Reversal of allowances (IAS 39) | 16 |
UBS AG | Reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 15 |
UBS AG | Derecognized from Derivative liabilities | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2 |
UBS AG | Available for sale assets reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 636 |
UBS AG | Available for sale assets reclassified to Financial assets at fair value not held for trading | Equity instruments and Investment fund units | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 755 |
UBS AG | Financial assets designated at fair value reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 60,062 |
UBS AG | Financial assets designated at fair value reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 9 |
UBS AG | Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,212 |
UBS AG | Reclassified from Forward starting repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | $ 7,930 |
Reconciliation of allowances an
Reconciliation of allowances and provisions on adoption of IFRS 9 (Detail 1) - USD ($) $ in Millions | Jan. 01, 2018 | Dec. 31, 2017 | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | $ (815) | ||
Reversal of allowances (IAS 39) | $ 27 | ||
Total on-balance sheet financial assets in scope of ECL requirements | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (781) | ||
Reversal of allowances (IAS 39) | 27 | ||
Loans and advances to banks | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (3) | ||
Loans and advances to customers | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (675) | ||
Reversal of allowances (IAS 39) | [1] | 27 | |
Other financial assets measured at amortized cost | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | [2] | (104) | |
Total off-balance sheet financial instruments and other credit lines | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (34) | ||
Guarantees | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (30) | ||
Loan commitments | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (4) | ||
UBS AG | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (815) | ||
Reversal of allowances (IAS 39) | 27 | ||
UBS AG | Total on-balance sheet financial assets in scope of ECL requirements | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (781) | ||
Reversal of allowances (IAS 39) | 27 | ||
UBS AG | Loans and advances to banks | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (3) | ||
UBS AG | Loans and advances to customers | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (675) | ||
Reversal of allowances (IAS 39) | [3] | $ 27 | |
UBS AG | Other financial assets measured at amortized cost | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | [4] | (104) | |
UBS AG | Total off-balance sheet financial instruments and other credit lines | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (34) | ||
UBS AG | Guarantees | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (30) | ||
UBS AG | Loan commitments | |||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | $ (4) | ||
[1] | The reversal of USD 27 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” | ||
[2] | Includes USD 84 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. | ||
[3] | The reversal of USD 27 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” | ||
[4] | Includes USD 84 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. |
Reconciliation of allowances _2
Reconciliation of allowances and provisions on adoption of IFRS 9 (Detail 2) $ in Millions | Jan. 01, 2018USD ($) | |
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | $ (357) | [1] |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (148) | [1] |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (193) | [1] |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (16) | [1],[2] |
Total on-balance sheet financial assets in scope of ECL requirements | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (282) | [1] |
Cash and balances at central banks | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
Loans and advances to banks | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (3) | [1] |
Receivables from securities financing transactions | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (2) | [1] |
Cash collateral receivables on derivative instruments | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
Loans and advances to customers | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (241) | [1],[3] |
Other financial assets measured at amortized cost | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (36) | [1] |
Loans to financial advisors | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 84 | |
Total off-balance sheet financial instruments and other credit lines | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (76) | [1] |
Guarantees | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (8) | [1] |
Loan commitments | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (33) | [1] |
Other credit lines | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (35) | [1] |
UBS AG | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (357) | [1] |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (148) | [1] |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (193) | [1] |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (16) | [1],[4] |
UBS AG | Total on-balance sheet financial assets in scope of ECL requirements | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (282) | [1] |
UBS AG | Cash and balances at central banks | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
UBS AG | Loans and advances to banks | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (3) | [1] |
UBS AG | Receivables from securities financing transactions | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (2) | [1] |
UBS AG | Cash collateral receivables on derivative instruments | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
UBS AG | Loans and advances to customers | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (241) | [1],[5] |
UBS AG | Other financial assets measured at amortized cost | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (36) | [1] |
UBS AG | Loans to financial advisors | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 84 | |
UBS AG | Total off-balance sheet financial instruments and other credit lines | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (76) | [1] |
UBS AG | Guarantees | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (8) | [1] |
UBS AG | Loan commitments | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (33) | [1] |
UBS AG | Other credit lines | ||
Explanation Of First Time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | $ (35) | [1] |
[1] | Includes stage 1 and stage 2 expected credit losses and additional stage 3 expected credit losses | |
[2] | The incremental increase in stage 3 allowances of USD 16 million arises from additional consideration of forward-looking scenarios under IFRS 9. | |
[3] | Includes the reversal of collective allowances of USD 13 million. | |
[4] | The incremental increase in stage 3 allowances of USD 16 million arises from additional consideration of forward looking scenarios under IFRS 9. | |
[5] | Includes the reversal of collective allowances of USD 13 million. |
IFRS 9 impact on other comprehe
IFRS 9 impact on other comprehensive income and retained earnings (Detail) $ in Millions | Jan. 01, 2018USD ($) |
Other comprehensive income recognized directly in equity, net of tax | |
Reclassification of financial assets (available for sale to fair value through profit or loss) - equity instruments | $ (204) |
Reclassification of financial assets (available for sale to fair value through profit or loss) - debt instruments | (5) |
Tax (expense) / benefit | 134 |
Total change in other comprehensive income | (74) |
Retained earnings | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (310) |
Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) | 209 |
Recognition of ECL for on-balance sheet financial assets | (282) |
Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) | 5 |
Recognition of derivative loan commitments measured at fair value through profit or loss | (61) |
Derecognition of liabilities for deferred fees on other loan commitments | 4 |
Derecognition of derivative loan commitments measured at fair value through profit or loss | 2 |
Recognition of ECL for off-balance sheet positions | (76) |
Tax (expense) / benefit | (9) |
Total change in retained earnings | (518) |
Total change in equity due to the adoption of IFRS 9 | (591) |
UBS AG | |
Other comprehensive income recognized directly in equity, net of tax | |
Reclassification of financial assets (available for sale to fair value through profit or loss) - equity instruments | (204) |
Reclassification of financial assets (available for sale to fair value through profit or loss) - debt instruments | (5) |
Tax (expense) / benefit | 134 |
Total change in other comprehensive income | (74) |
Retained earnings | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (310) |
Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) | 209 |
Recognition of ECL for on-balance sheet financial assets | (282) |
Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) | 5 |
Recognition of derivative loan commitments measured at fair value through profit or loss | (61) |
Derecognition of liabilities for deferred fees on other loan commitments | 4 |
Derecognition of derivative loan commitments measured at fair value through profit or loss | 2 |
Recognition of ECL for off-balance sheet positions | (76) |
Tax (expense) / benefit | (9) |
Total change in retained earnings | (518) |
Total change in equity due to the adoption of IFRS 9 | $ (591) |
Conditional share capital (Narr
Conditional share capital (Narrative) (Detail) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
Conditional Share Capital [Line Items] | ||
Additional shares that could have been issued to fund UBS's employee share option programs | 125,126,476 | 128,000,000 |
Additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | 380,000,000 | |
UBS AG | ||
Conditional Share Capital [Line Items] | ||
Additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | 380,000,000 |
Share repurchase program (Narra
Share repurchase program (Narrative) (Detail) shares in Millions, $ in Millions, SFr in Billions | 12 Months Ended | |
Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2018USD ($)shares | |
Share Repurchse Program [Line Items] | ||
Shares aquired based on share repurchase program | shares | 48 | 48 |
Amount invested to aquired own registered shares based on share repurchase program | $ | $ 762 | |
2018-2021 | ||
Share Repurchse Program [Line Items] | ||
Maximum amount intended for the purchase of own registered shares | SFr | SFr 2 |
Segment reporting (Narrative) (
Segment reporting (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Number of business divisions | 4 |
Asset Management | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 23 |
Number of geographical regions of which the business division has onshore presence | 4 |
Investment Bank | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 33 |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Number of business divisions | 4 |
UBS AG | Asset Management | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 23 |
Number of geographical regions of which the business division has onshore presence | 4 |
UBS AG | Investment Bank | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 33 |
Segment reporting (Detail)
Segment reporting (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | Jan. 01, 2017 | |||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | $ 6,025 | $ 6,656 | $ 6,487 | |||||
Non-interest income | [1] | 24,306 | 23,098 | 22,279 | |||||
Allocations from CC - Group ALM | [1] | 0 | 0 | 0 | |||||
Income | [1] | 30,330 | [2] | 29,754 | [3] | 28,766 | [4] | ||
Credit loss (expense) / recovery | [1] | (118) | (131) | (38) | |||||
Total operating income | [1] | 30,213 | 29,622 | [5] | 28,729 | [5] | |||
Personnel expenses | [1] | 16,132 | 16,199 | 15,913 | |||||
General and administrative expenses | [1] | 6,797 | 6,949 | 7,517 | |||||
Services (to) / from CC and other BDs | [1] | 0 | 0 | 0 | |||||
of which: services from CC - Services | [1] | 0 | 0 | 0 | |||||
Depreciation and impairment of property, equipment and software | [1] | 1,228 | 1,053 | 997 | |||||
Amortization and impairment of intangible assets | [1] | 65 | 71 | 93 | |||||
Total operating expenses | [1] | 24,222 | 24,272 | 24,519 | |||||
Operating profit / (loss) before tax | [1] | 5,991 | 5,351 | 4,209 | |||||
Tax expense / (benefit) | [1] | 1,468 | 4,305 | 777 | |||||
Net profit / (loss) | [1],[6] | 4,522 | 1,046 | 3,432 | |||||
Additional information | |||||||||
Total assets | 958,489 | [1] | 939,279 | [1] | 918,906 | [1] | $ 938,812 | $ 918,906 | |
Additions to non-current assets | [1] | 1,975 | 1,746 | 1,840 | |||||
Financial assets measured at fair value through other comprehensive income | |||||||||
Additional information | |||||||||
Impairments | 0 | 15 | 5 | ||||||
Global Wealth Management | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 4,206 | 3,722 | 3,318 | |||||
Non-interest income | [1] | 12,659 | 12,196 | 11,427 | |||||
Allocations from CC - Group ALM | [1] | 90 | 377 | 512 | |||||
Income | [1] | 16,956 | [2] | 16,295 | [3] | 15,257 | [4] | ||
Credit loss (expense) / recovery | [1] | (15) | (8) | (8) | |||||
Total operating income | [1] | 16,941 | 16,287 | 15,249 | |||||
Personnel expenses | [1] | 7,683 | 7,674 | 7,254 | |||||
General and administrative expenses | [1] | 1,724 | 1,263 | 1,221 | |||||
Services (to) / from CC and other BDs | [1] | 3,852 | 3,726 | 3,627 | |||||
of which: services from CC - Services | [1] | 3,740 | 3,626 | 3,520 | |||||
Depreciation and impairment of property, equipment and software | [1] | 4 | 4 | 4 | |||||
Amortization and impairment of intangible assets | [1] | 50 | 49 | 54 | |||||
Total operating expenses | [1] | 13,313 | 12,717 | 12,159 | |||||
Operating profit / (loss) before tax | [1] | 3,628 | 3,571 | 3,090 | |||||
Additional information | |||||||||
Total assets | [1] | 200,036 | 194,990 | 178,250 | |||||
Additions to non-current assets | [1] | 196 | 120 | 31 | |||||
Personal & Corporate Banking | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 2,057 | 1,954 | 1,914 | |||||
Non-interest income | [1] | 2,166 | 1,807 | 1,791 | |||||
Allocations from CC - Group ALM | [1] | 56 | 184 | 336 | |||||
Income | [1] | 4,278 | [2] | 3,945 | [3] | 4,042 | [4] | ||
Credit loss (expense) / recovery | [1] | (56) | (20) | (6) | |||||
Total operating income | [1] | 4,222 | 3,925 | 4,035 | |||||
Personnel expenses | [1] | 803 | 852 | 855 | |||||
General and administrative expenses | [1] | 285 | 296 | 287 | |||||
Services (to) / from CC and other BDs | [1] | 1,208 | 1,156 | 1,093 | |||||
of which: services from CC - Services | [1] | 1,285 | 1,251 | 1,201 | |||||
Depreciation and impairment of property, equipment and software | [1] | 14 | 13 | 15 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 2,310 | 2,317 | 2,250 | |||||
Operating profit / (loss) before tax | [1] | 1,912 | 1,607 | 1,785 | |||||
Additional information | |||||||||
Total assets | [1] | 138,809 | 139,062 | 137,467 | |||||
Additions to non-current assets | [1] | 23 | 15 | 24 | |||||
Asset Management | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (31) | (33) | (33) | |||||
Non-interest income | [1] | 1,874 | 2,097 | 1,980 | |||||
Allocations from CC - Group ALM | [1] | 15 | 19 | 7 | |||||
Income | [1] | 1,857 | [2] | 2,083 | [3] | 1,955 | [4] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||||
Total operating income | [1] | 1,857 | 2,083 | 1,955 | |||||
Personnel expenses | [1] | 703 | 731 | 736 | |||||
General and administrative expenses | [1] | 202 | 235 | 244 | |||||
Services (to) / from CC and other BDs | [1] | 498 | 524 | 512 | |||||
of which: services from CC - Services | [1] | 541 | 562 | 537 | |||||
Depreciation and impairment of property, equipment and software | [1] | 2 | 1 | 1 | |||||
Amortization and impairment of intangible assets | [1] | 1 | 3 | 5 | |||||
Total operating expenses | [1] | 1,406 | 1,495 | 1,498 | |||||
Operating profit / (loss) before tax | [1] | 451 | 587 | 457 | |||||
Additional information | |||||||||
Total assets | [1] | 24,371 | 14,638 | 11,817 | |||||
Additions to non-current assets | [1] | 1 | 1 | 1 | |||||
Asset Management | Financial assets measured at fair value through other comprehensive income | |||||||||
Additional information | |||||||||
Impairments | 12 | 3 | |||||||
Investment Bank | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 937 | 1,217 | 1,012 | |||||
Non-interest income | [1] | 7,641 | 7,020 | 7,041 | |||||
Allocations from CC - Group ALM | [1] | (391) | (351) | (264) | |||||
Income | [1] | 8,188 | [2] | 7,886 | [3] | 7,790 | [4] | ||
Credit loss (expense) / recovery | [1] | (38) | (92) | (11) | |||||
Total operating income | [1] | 8,150 | 7,794 | 7,779 | |||||
Personnel expenses | [1] | 2,941 | 3,006 | 3,122 | |||||
General and administrative expenses | [1] | 651 | 675 | 812 | |||||
Services (to) / from CC and other BDs | [1] | 2,889 | 2,824 | 2,798 | |||||
of which: services from CC - Services | [1] | 2,811 | 2,729 | 2,707 | |||||
Depreciation and impairment of property, equipment and software | [1] | 8 | 10 | 22 | |||||
Amortization and impairment of intangible assets | [1] | 12 | 12 | 12 | |||||
Total operating expenses | [1] | 6,501 | 6,527 | 6,765 | |||||
Operating profit / (loss) before tax | [1] | 1,649 | 1,267 | 1,014 | |||||
Additional information | |||||||||
Total assets | [1] | 258,691 | 269,731 | 238,066 | |||||
Additions to non-current assets | [1] | 89 | 3 | 3 | |||||
Corporate Center - Services | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (398) | (355) | (326) | |||||
Non-interest income | [1] | (158) | 76 | 186 | |||||
Allocations from CC - Group ALM | [1] | 43 | 123 | 37 | |||||
Income | [1] | (513) | [2] | (157) | [3] | (103) | [4] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||||
Total operating income | [1] | (513) | (157) | (103) | |||||
Personnel expenses | [1] | 3,927 | 3,857 | 3,847 | |||||
General and administrative expenses | [1] | 3,789 | 4,336 | 4,192 | |||||
Services (to) / from CC and other BDs | [1] | (8,624) | (8,445) | (8,263) | |||||
of which: services from CC - Services | [1] | (8,697) | (8,510) | (8,303) | |||||
Depreciation and impairment of property, equipment and software | [1] | 1,199 | 1,024 | 955 | |||||
Amortization and impairment of intangible assets | [1] | 2 | 7 | 21 | |||||
Total operating expenses | [1] | 293 | 779 | 753 | |||||
Operating profit / (loss) before tax | [1] | (806) | (935) | (856) | |||||
Additional information | |||||||||
Total assets | [1] | 21,733 | 21,371 | 23,488 | |||||
Additions to non-current assets | [1] | 1,666 | 1,606 | 1,781 | |||||
Corporate Center - Group ALM | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (780) | 128 | 599 | |||||
Non-interest income | [1] | (123) | (147) | (237) | |||||
Allocations from CC - Group ALM | [1] | 295 | (268) | (517) | |||||
Income | [1] | (608) | [2] | (288) | [3] | (155) | [4] | ||
Credit loss (expense) / recovery | [1] | (1) | 0 | 0 | |||||
Total operating income | [1] | (609) | (288) | (155) | |||||
Personnel expenses | [1] | 41 | 34 | 31 | |||||
General and administrative expenses | [1] | 42 | 27 | 17 | |||||
Services (to) / from CC and other BDs | [1] | 1 | (13) | (49) | |||||
of which: services from CC - Services | [1] | 169 | 145 | 112 | |||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | 0 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 84 | 48 | (1) | |||||
Operating profit / (loss) before tax | [1] | (693) | (336) | (154) | |||||
Additional information | |||||||||
Total assets | [1] | 280,135 | 252,092 | 262,530 | |||||
Additions to non-current assets | [1] | 0 | 0 | 0 | |||||
Corporate Center - Non-core and Legacy Portfolio | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 35 | 24 | 3 | |||||
Non-interest income | [1] | 246 | 50 | 89 | |||||
Allocations from CC - Group ALM | [1] | (108) | (84) | (112) | |||||
Income | [1] | 172 | [2] | (11) | [3] | (20) | [4] | ||
Credit loss (expense) / recovery | [1] | (8) | (11) | (12) | |||||
Total operating income | [1] | 165 | (22) | (32) | |||||
Personnel expenses | [1] | 35 | 44 | 67 | |||||
General and administrative expenses | [1] | 104 | 117 | 744 | |||||
Services (to) / from CC and other BDs | [1] | 176 | 228 | 283 | |||||
of which: services from CC - Services | [1] | 153 | 198 | 227 | |||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | 0 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 315 | 388 | 1,094 | |||||
Operating profit / (loss) before tax | [1] | (150) | (411) | (1,126) | |||||
Additional information | |||||||||
Total assets | [1] | 34,715 | 47,395 | 67,288 | |||||
Additions to non-current assets | [1] | 0 | 0 | 0 | |||||
UBS AG | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 5,949 | 6,607 | 6,457 | |||||
Non-interest income | [1] | 24,811 | 23,569 | 22,411 | |||||
Allocations from CC - Group ALM | [1] | 0 | 0 | 0 | |||||
Income | [1] | 30,759 | [7] | 30,176 | [8] | 28,868 | [9] | ||
Credit loss (expense) / recovery | [1] | (117) | (131) | (38) | |||||
Total operating income | [1] | 30,642 | 30,044 | [5] | 28,831 | [5] | |||
Personnel expenses | [1],[10] | 13,992 | 14,952 | 15,782 | |||||
General and administrative expenses | [1] | 10,075 | 9,001 | 7,776 | |||||
Services (to) / from CC and other BDs | [1] | 0 | 0 | 0 | |||||
of which: services from CC - Services | [1] | 0 | 0 | 0 | |||||
Depreciation and impairment of property, equipment and software | [1] | 1,052 | 945 | 992 | |||||
Amortization and impairment of intangible assets | [1] | 65 | 71 | 93 | |||||
Total operating expenses | [1] | 25,184 | 24,969 | 24,643 | |||||
Operating profit / (loss) before tax | [1] | 5,458 | 5,076 | 4,188 | |||||
Tax expense / (benefit) | [1] | 1,345 | 4,242 | 753 | |||||
Net profit / (loss) | [1],[6] | 4,113 | 834 | 3,435 | |||||
Additional information | |||||||||
Total assets | 958,055 | [1] | 940,020 | [1] | 919,236 | [1] | $ 939,554 | $ 919,236 | |
Additions to non-current assets | [1] | 1,757 | 1,648 | 1,821 | |||||
UBS AG | Financial assets measured at fair value through other comprehensive income | |||||||||
Additional information | |||||||||
Impairments | 0 | 15 | 5 | ||||||
UBS AG | Global Wealth Management | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 4,206 | 3,723 | 3,318 | |||||
Non-interest income | [1] | 12,659 | 12,197 | 11,427 | |||||
Allocations from CC - Group ALM | [1] | 90 | 377 | 512 | |||||
Income | [1] | 16,957 | [7] | 16,296 | [8] | 15,257 | [9] | ||
Credit loss (expense) / recovery | [1] | (15) | (8) | (8) | |||||
Total operating income | [1] | 16,941 | 16,288 | 15,250 | |||||
Personnel expenses | [1] | 7,680 | 7,679 | 7,253 | |||||
General and administrative expenses | [1] | 1,771 | 1,308 | 1,261 | |||||
Services (to) / from CC and other BDs | [1] | 3,851 | 3,726 | 3,626 | |||||
of which: services from CC - Services | [1] | 3,739 | 3,626 | 3,520 | |||||
Depreciation and impairment of property, equipment and software | [1] | 4 | 4 | 4 | |||||
Amortization and impairment of intangible assets | [1] | 50 | 49 | 54 | |||||
Total operating expenses | [1] | 13,356 | 12,766 | 12,199 | |||||
Operating profit / (loss) before tax | [1] | 3,586 | 3,522 | 3,051 | |||||
Additional information | |||||||||
Total assets | [1] | 200,036 | 194,990 | 178,250 | |||||
Additions to non-current assets | [1] | 196 | 120 | 31 | |||||
UBS AG | Personal & Corporate Banking | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 2,057 | 1,954 | 1,914 | |||||
Non-interest income | [1] | 2,167 | 1,807 | 1,791 | |||||
Allocations from CC - Group ALM | [1] | 56 | 184 | 336 | |||||
Income | [1] | 4,279 | [7] | 3,945 | [8] | 4,042 | [9] | ||
Credit loss (expense) / recovery | [1] | (56) | (20) | (6) | |||||
Total operating income | [1] | 4,223 | 3,925 | 4,035 | |||||
Personnel expenses | [1] | 799 | 849 | 854 | |||||
General and administrative expenses | [1] | 289 | 300 | 288 | |||||
Services (to) / from CC and other BDs | [1] | 1,206 | 1,154 | 1,092 | |||||
of which: services from CC - Services | [1] | 1,282 | 1,248 | 1,200 | |||||
Depreciation and impairment of property, equipment and software | [1] | 14 | 13 | 15 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 2,309 | 2,316 | 2,250 | |||||
Operating profit / (loss) before tax | [1] | 1,914 | 1,609 | 1,785 | |||||
Additional information | |||||||||
Total assets | [1] | 138,873 | 139,094 | 137,499 | |||||
Additions to non-current assets | [1] | 23 | 15 | 24 | |||||
UBS AG | Asset Management | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (31) | (33) | (33) | |||||
Non-interest income | [1] | 1,874 | 2,097 | 1,980 | |||||
Allocations from CC - Group ALM | [1] | 15 | 19 | 7 | |||||
Income | [1] | 1,857 | [7] | 2,083 | [8] | 1,955 | [9] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||||
Total operating income | [1] | 1,857 | 2,083 | 1,955 | |||||
Personnel expenses | [1] | 702 | 731 | 736 | |||||
General and administrative expenses | [1] | 206 | 238 | 245 | |||||
Services (to) / from CC and other BDs | [1] | 496 | 522 | 512 | |||||
of which: services from CC - Services | [1] | 539 | 560 | 537 | |||||
Depreciation and impairment of property, equipment and software | [1] | 2 | 1 | 1 | |||||
Amortization and impairment of intangible assets | [1] | 1 | 3 | 5 | |||||
Total operating expenses | [1] | 1,407 | 1,496 | 1,499 | |||||
Operating profit / (loss) before tax | [1] | 450 | 587 | 455 | |||||
Additional information | |||||||||
Total assets | [1] | 24,371 | 14,639 | 11,816 | |||||
Additions to non-current assets | [1] | 1 | 1 | 1 | |||||
UBS AG | Asset Management | Financial assets measured at fair value through other comprehensive income | |||||||||
Additional information | |||||||||
Impairments | 12 | 3 | |||||||
UBS AG | Investment Bank | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 937 | 1,217 | 1,012 | |||||
Non-interest income | [1] | 7,642 | 7,020 | 7,039 | |||||
Allocations from CC - Group ALM | [1] | (391) | (351) | (264) | |||||
Income | [1] | 8,189 | [7] | 7,886 | [8] | 7,788 | [9] | ||
Credit loss (expense) / recovery | [1] | (38) | (92) | (11) | |||||
Total operating income | [1] | 8,151 | 7,795 | 7,777 | |||||
Personnel expenses | [1] | 2,936 | 3,007 | 3,122 | |||||
General and administrative expenses | [1] | 706 | 728 | 861 | |||||
Services (to) / from CC and other BDs | [1] | 2,884 | 2,822 | 2,790 | |||||
of which: services from CC - Services | [1] | 2,806 | 2,727 | 2,700 | |||||
Depreciation and impairment of property, equipment and software | [1] | 8 | 10 | 22 | |||||
Amortization and impairment of intangible assets | [1] | 12 | 12 | 12 | |||||
Total operating expenses | [1] | 6,546 | 6,578 | 6,807 | |||||
Operating profit / (loss) before tax | [1] | 1,604 | 1,216 | 970 | |||||
Additional information | |||||||||
Total assets | [1] | 258,871 | 269,849 | 238,151 | |||||
Additions to non-current assets | [1] | 89 | 3 | 3 | |||||
UBS AG | Corporate Center - Services | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (410) | (361) | (326) | |||||
Non-interest income | [1] | 312 | 476 | 253 | |||||
Allocations from CC - Group ALM | [1] | 43 | 123 | 37 | |||||
Income | [1] | (56) | [7] | 237 | [8] | (36) | [9] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||||
Total operating income | [1] | (56) | 237 | (36) | |||||
Personnel expenses | [1] | 1,800 | 2,608 | 3,718 | |||||
General and administrative expenses | [1] | 6,956 | 6,283 | 4,361 | |||||
Services (to) / from CC and other BDs | [1] | (8,615) | (8,438) | (8,255) | |||||
of which: services from CC - Services | [1] | (8,688) | (8,503) | (8,295) | |||||
Depreciation and impairment of property, equipment and software | [1] | 1,023 | 916 | 950 | |||||
Amortization and impairment of intangible assets | [1] | 2 | 7 | 21 | |||||
Total operating expenses | [1] | 1,166 | 1,376 | 796 | |||||
Operating profit / (loss) before tax | [1] | (1,221) | (1,139) | (832) | |||||
Additional information | |||||||||
Total assets | [1] | 20,193 | 19,907 | 23,630 | |||||
Additions to non-current assets | [1] | 1,448 | 1,509 | 1,763 | |||||
UBS AG | Corporate Center - Group ALM | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | (845) | 84 | 568 | |||||
Non-interest income | [1] | (89) | (77) | (169) | |||||
Allocations from CC - Group ALM | [1] | 295 | (268) | (517) | |||||
Income | [1] | (639) | [7] | (260) | [8] | (118) | [9] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||||
Total operating income | [1] | (639) | (260) | (118) | |||||
Personnel expenses | [1] | 40 | 34 | 31 | |||||
General and administrative expenses | [1] | 43 | 27 | 17 | |||||
Services (to) / from CC and other BDs | [1] | 1 | (13) | (49) | |||||
of which: services from CC - Services | [1] | 169 | 145 | 112 | |||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | 0 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 84 | 48 | (1) | |||||
Operating profit / (loss) before tax | [1] | (723) | (308) | (117) | |||||
Additional information | |||||||||
Total assets | [1] | 280,996 | 254,146 | 262,603 | |||||
Additions to non-current assets | [1] | 0 | 0 | 0 | |||||
UBS AG | Corporate Center - Non-core and Legacy Portfolio | |||||||||
Disclosure Of Operating Segments [Line Items] | |||||||||
Net interest income | [1] | 35 | 24 | 3 | |||||
Non-interest income | [1] | 246 | 50 | 89 | |||||
Allocations from CC - Group ALM | [1] | (108) | (84) | (112) | |||||
Income | [1] | 172 | [7] | (11) | [8] | (20) | [9] | ||
Credit loss (expense) / recovery | [1] | (8) | (11) | (12) | |||||
Total operating income | [1] | 165 | (22) | (32) | |||||
Personnel expenses | [1] | 35 | 44 | 67 | |||||
General and administrative expenses | [1] | 105 | 116 | 743 | |||||
Services (to) / from CC and other BDs | [1] | 176 | 228 | 283 | |||||
of which: services from CC - Services | [1] | 152 | 197 | 227 | |||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | 0 | |||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | 0 | |||||
Total operating expenses | [1] | 317 | 388 | 1,093 | |||||
Operating profit / (loss) before tax | [1] | (152) | (410) | (1,125) | |||||
Additional information | |||||||||
Total assets | [1] | 34,715 | 47,395 | 67,288 | |||||
Additions to non-current assets | [1] | $ 0 | $ 0 | $ 0 | |||||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | ||||||||
[2] | Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. | ||||||||
[3] | Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. | ||||||||
[4] | Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. | ||||||||
[5] | 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. | ||||||||
[6] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | ||||||||
[7] | Impairments of financial assets classified at fair value through other comprehensive income for the year ended 31 December 2018 totaled USD 0 million. | ||||||||
[8] | Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2017 totaled USD 15 million, of which USD 12 million was recorded in Asset Management. | ||||||||
[9] | Impairments of financial assets classified at fair value through other comprehensive income (prior to 2018 classified as financial assets available for sale) for the year ended 31 December 2016 totaled USD 5 million, of which USD 3 million was recorded in Asset Management. | ||||||||
[10] | The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
Segment reporting by geograph_2
Segment reporting by geographical location (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | [2] | Dec. 31, 2016 | [2] | ||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | [1] | $ 30,213 | $ 29,622 | $ 28,729 | ||
Total non-current assets | $ 17,100 | $ 16,700 | $ 15,600 | |||
Total operating income (Share %) | 100.00% | 100.00% | 100.00% | |||
Total non-current assets (Share %) | 100.00% | 100.00% | 100.00% | |||
Americas | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,800 | $ 12,100 | $ 11,600 | |||
Total non-current assets | $ 7,400 | $ 7,400 | $ 7,200 | |||
Total operating income (Share %) | 42.00% | 41.00% | 40.00% | |||
Total non-current assets (Share %) | 43.00% | 44.00% | 47.00% | |||
of which: USA | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,200 | $ 11,600 | $ 11,100 | |||
Total non-current assets | $ 7,000 | $ 6,900 | $ 6,800 | |||
Total operating income (Share %) | 41.00% | 39.00% | 39.00% | |||
Total non-current assets (Share %) | 41.00% | 41.00% | 44.00% | |||
Asia Pacific | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 5,000 | $ 4,800 | $ 4,300 | |||
Total non-current assets | $ 900 | $ 800 | $ 700 | |||
Total operating income (Share %) | 16.00% | 16.00% | 15.00% | |||
Total non-current assets (Share %) | 5.00% | 5.00% | 4.00% | |||
Europe, Middle East and Africa | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 6,300 | $ 6,200 | $ 6,200 | |||
Total non-current assets | $ 2,000 | $ 2,000 | $ 1,800 | |||
Total operating income (Share %) | 21.00% | 21.00% | 22.00% | |||
Total non-current assets (Share %) | 12.00% | 12.00% | 11.00% | |||
Switzerland | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 7,300 | $ 7,000 | $ 7,000 | |||
Total non-current assets | $ 6,800 | $ 6,500 | $ 5,900 | |||
Total operating income (Share %) | 24.00% | 24.00% | 24.00% | |||
Total non-current assets (Share %) | 40.00% | 40.00% | 38.00% | |||
Global | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ (1,100) | $ (500) | $ (400) | |||
Total non-current assets | $ 0 | $ 0 | $ 0 | |||
Total operating income (Share %) | (3.00%) | (2.00%) | (1.00%) | |||
Total non-current assets (Share %) | 0.00% | 0.00% | 0.00% | |||
UBS AG | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | [1] | $ 30,642 | $ 30,044 | $ 28,831 | ||
Total non-current assets | $ 16,200 | $ 15,800 | $ 15,500 | |||
Total operating income (Share %) | 100.00% | 100.00% | 100.00% | |||
Total non-current assets (Share %) | 100.00% | 100.00% | 100.00% | |||
UBS AG | Americas | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,800 | $ 12,100 | $ 11,600 | |||
Total non-current assets | $ 7,400 | $ 7,400 | $ 7,200 | |||
Total operating income (Share %) | 42.00% | 40.00% | 40.00% | |||
Total non-current assets (Share %) | 46.00% | 47.00% | 47.00% | |||
UBS AG | of which: USA | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,200 | $ 11,600 | $ 11,100 | |||
Total non-current assets | $ 7,000 | $ 6,900 | $ 6,800 | |||
Total operating income (Share %) | 40.00% | 39.00% | 38.00% | |||
Total non-current assets (Share %) | 43.00% | 44.00% | 44.00% | |||
UBS AG | Asia Pacific | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 5,000 | $ 4,800 | $ 4,300 | |||
Total non-current assets | $ 800 | $ 800 | $ 600 | |||
Total operating income (Share %) | 16.00% | 16.00% | 15.00% | |||
Total non-current assets (Share %) | 5.00% | 5.00% | 4.00% | |||
UBS AG | Europe, Middle East and Africa | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 6,300 | $ 6,200 | $ 6,200 | |||
Total non-current assets | $ 1,800 | $ 1,700 | $ 1,800 | |||
Total operating income (Share %) | 20.00% | 21.00% | 22.00% | |||
Total non-current assets (Share %) | 11.00% | 10.00% | 11.00% | |||
UBS AG | Switzerland | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 7,300 | $ 7,000 | $ 7,000 | |||
Total non-current assets | $ 6,200 | $ 6,000 | $ 5,900 | |||
Total operating income (Share %) | 24.00% | 23.00% | 24.00% | |||
Total non-current assets (Share %) | 38.00% | 38.00% | 38.00% | |||
UBS AG | Global | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ (600) | $ 0 | $ (300) | |||
Total non-current assets | $ 0 | $ 0 | $ 0 | |||
Total operating income (Share %) | (2.00%) | 0.00% | (1.00%) | |||
Total non-current assets (Share %) | 0.00% | 0.00% | 0.00% | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||
[2] | 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. |
Net interest income and other_2
Net interest income and other net income from fair value changes on financial instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | ||||
Interest income from loans and deposits | [1],[2],[3] | $ 7,801 | $ 6,722 | $ 8,079 |
Interest income from brokerage balances | [3] | 1,030 | 906 | |
Interest income from securities financing transactions | [3],[4] | 1,567 | 1,573 | 1,152 |
of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3] | 581 | 260 | |
Interest income from other financial instruments measured at amortized cost | [3] | 266 | 99 | 54 |
Interest income from debt instruments measured at fair value through other comprehensive income | [3] | 142 | 152 | 189 |
Interest income from derivative instruments designated as cash flow hedges | [3] | 324 | 846 | |
Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [3] | 10,100 | 10,422 | 10,379 |
Interest expense on loans and deposits | [3],[5] | 1,980 | 1,050 | 689 |
Interest expense on brokerage balances | [3] | 354 | 147 | |
Interest expense on securities financing transactions | [3],[6] | 1,130 | 1,473 | 1,251 |
of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3] | 568 | 241 | |
Interest expense on debt issued | [3] | 3,281 | 2,528 | 2,889 |
Total interest expense from financial instruments measured at amortized cost | [3] | 6,391 | 5,404 | 4,976 |
Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [3] | 3,710 | 5,018 | 5,403 |
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Interest income from financial instruments at fair value held for trading | [1],[3],[7] | 3,724 | 3,483 | 3,201 |
Interest income from brokerage balances | [3] | 1,243 | ||
Interest income from financial instruments at fair value not held for trading | [3],[7] | 1,951 | 512 | 330 |
of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3],[8] | 970 | ||
Other interest income | [3] | 50 | 61 | 48 |
Total interest income from financial instruments measured at fair value through profit or loss | [3] | 6,968 | 4,056 | 3,579 |
Interest expense on financial instruments at fair value held for trading | [3],[9] | 1,671 | 1,537 | 1,644 |
Interest expense on brokerage balances | [3] | 668 | ||
Interest expense on financial instruments designated at fair value | [3] | 2,314 | 881 | 851 |
of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3],[10] | 765 | ||
Total interest expense from financial instruments measured at fair value through profit or loss | [3] | 4,653 | 2,418 | 2,495 |
Total net interest income from financial instruments measured at fair value through profit or loss | [3] | 2,315 | 1,638 | 1,084 |
Other net income from fair value changes on financial instruments | ||||
Investment Bank Corporate Client Solutions | 709 | 611 | 188 | |
Investment Bank Investor Client Services | 3,537 | 2,863 | 3,382 | |
Other business divisions and Corporate Center | 1,738 | 1,591 | 1,453 | |
Other net income from fair value changes on financial instruments | 5,984 | 5,065 | 5,023 | |
of which: net gains / (losses) from financial liabilities designated at fair value | [11] | 9,382 | (3,979) | (1,516) |
Total | [12] | $ 12,008 | $ 11,721 | $ 11,510 |
Approximate share of each net interest income and net interest expense in net interest income | 9.00% | 8.00% | 5.00% | |
Net gains / (losses) from amounts due under unit-linked investment contracts which are designated at fair value under IFRS 9 | $ 2,152 | |||
Global Wealth Management | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 5,254 | $ 5,149 | $ 4,893 | |
Global Wealth Management | of which: net interest income | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 4,310 | 4,103 | 3,843 | |
Global Wealth Management | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from fair value changes on financial instruments | ||||
Total | [13] | 944 | 1,046 | 1,050 |
Personal & Corporate Banking | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 2,514 | 2,510 | 2,563 | |
Personal & Corporate Banking | of which: net interest income | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 2,106 | 2,127 | 2,225 | |
Personal & Corporate Banking | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from fair value changes on financial instruments | ||||
Total | [13] | 408 | 383 | 337 |
Asset Management | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (30) | (24) | (29) | |
Investment Bank | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 4,812 | 4,363 | 4,330 | |
Corporate Client Solutions | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 1,056 | 1,087 | 830 | |
Investor Client Services | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 3,756 | 3,276 | 3,500 | |
Corporate Center | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (541) | (278) | (246) | |
Corporate Center - Services | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (159) | (43) | (90) | |
Corporate Center - Group ALM | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (554) | (162) | (96) | |
Corporate Center - Non-core and Legacy Portfolio | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 173 | (72) | (60) | |
UBS AG [Member] | ||||
Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | ||||
Interest income from loans and deposits | [1],[2],[3] | 7,822 | 6,736 | 8,075 |
Interest income from brokerage balances | [3] | 1,030 | 906 | |
Interest income from securities financing transactions | [3],[4] | 1,567 | 1,573 | 1,152 |
of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3] | 663 | 252 | |
Interest income from other financial instruments measured at amortized cost | [3] | 266 | 99 | 54 |
Interest income from debt instruments measured at fair value through other comprehensive income | [3] | 142 | 152 | 189 |
Interest income from derivative instruments designated as cash flow hedges | [3] | 324 | 846 | |
Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [3] | 10,121 | 10,437 | 10,375 |
Interest expense on loans and deposits | [3],[5] | 3,566 | 2,161 | 1,537 |
Interest expense on brokerage balances | [3] | 354 | 147 | |
Interest expense on securities financing transactions | [3],[6] | 1,130 | 1,473 | 1,251 |
of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3] | 249 | 127 | |
Interest expense on debt issued | [3] | 1,797 | 1,480 | 2,068 |
Total interest expense from financial instruments measured at amortized cost | [3] | 6,494 | 5,468 | 5,002 |
Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [3] | 3,628 | 4,969 | 5,372 |
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Interest income from financial instruments at fair value held for trading | [1],[3],[7] | 3,729 | 3,483 | 3,201 |
Interest income from brokerage balances | [3] | 1,243 | ||
Interest income from financial instruments at fair value not held for trading | [3],[7] | 1,786 | 512 | 330 |
of which: interest income from securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3],[8] | 974 | ||
Other interest income | [3] | 215 | 61 | 48 |
Total interest income from financial instruments measured at fair value through profit or loss | [3] | 6,974 | 4,056 | 3,579 |
Interest expense on financial instruments at fair value held for trading | [3],[9] | 1,671 | 1,537 | 1,644 |
Interest expense on brokerage balances | [3] | 668 | ||
Interest expense on financial instruments designated at fair value | [3] | 2,314 | 881 | 851 |
of which: interest expense on securities financing transactions measured at fair value through profit or loss since 1 January 2018 | [3],[10] | 124 | ||
Total interest expense from financial instruments measured at fair value through profit or loss | [3] | 4,653 | 2,418 | 2,495 |
Total net interest income from financial instruments measured at fair value through profit or loss | [3] | 2,321 | 1,638 | 1,084 |
Other net income from fair value changes on financial instruments | ||||
Investment Bank Corporate Client Solutions | 709 | 611 | 188 | |
Investment Bank Investor Client Services | 3,537 | 2,863 | 3,380 | |
Other business divisions and Corporate Center | 1,730 | 1,593 | 1,451 | |
Other net income from fair value changes on financial instruments | 5,977 | 5,067 | 5,018 | |
of which: net gains / (losses) from financial liabilities designated at fair value | [11] | 9,382 | (3,979) | (1,516) |
Total | [12] | $ 11,925 | $ 11,674 | $ 11,475 |
Approximate share of each net interest income and net interest expense in net interest income | 9.00% | 8.00% | 5.00% | |
Net gains / (losses) from amounts due under unit-linked investment contracts which are designated at fair value under IFRS 9 | $ 2,152 | |||
UBS AG [Member] | Global Wealth Management | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 5,254 | $ 5,150 | $ 4,893 | |
UBS AG [Member] | Global Wealth Management | of which: net interest income | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 4,310 | 4,104 | 3,843 | |
UBS AG [Member] | Global Wealth Management | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from fair value changes on financial instruments | ||||
Total | [13] | 944 | 1,046 | 1,050 |
UBS AG [Member] | Personal & Corporate Banking | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 2,514 | 2,510 | 2,563 | |
UBS AG [Member] | Personal & Corporate Banking | of which: net interest income | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 2,106 | 2,127 | 2,225 | |
UBS AG [Member] | Personal & Corporate Banking | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from fair value changes on financial instruments | ||||
Total | [13] | 408 | 383 | 337 |
UBS AG [Member] | Asset Management | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (30) | (24) | (29) | |
UBS AG [Member] | Investment Bank | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 4,813 | 4,364 | 4,328 | |
UBS AG [Member] | Corporate Client Solutions | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 1,056 | 1,087 | 830 | |
UBS AG [Member] | Investor Client Services | ||||
Other net income from fair value changes on financial instruments | ||||
Total | 3,756 | 3,276 | 3,498 | |
UBS AG [Member] | Corporate Center | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (626) | (325) | (279) | |
UBS AG [Member] | Corporate Center - Services | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (177) | (49) | (93) | |
UBS AG [Member] | Corporate Center - Group ALM | ||||
Other net income from fair value changes on financial instruments | ||||
Total | (621) | (204) | (126) | |
UBS AG [Member] | Corporate Center - Non-core and Legacy Portfolio | ||||
Other net income from fair value changes on financial instruments | ||||
Total | $ 173 | $ (72) | $ (60) | |
[1] | As a consequence of amendments to IAS 1, Presentation of Financial Statements, effective 1 January 2018, forward points on certain short-duration foreign exchange contracts previously presented within Interest income from loans and deposits are now presented within Interest income from financial instruments at fair value held for trading. Comparative information was restated accordingly. | |||
[2] | Consists of interest income from cash and balances at central banks, loans and advances to banks, and negative interest on amounts due to banks and customer deposits. | |||
[3] | Prior-period information may not be comparable as a result of the adoption of IFRS 9, effective 1 January 2018. Refer to Note 1c for more information on these changes. Negative interest income and negative interest expense are each individually approximately 9% of net interest income (2017: approximately 8% of net interest income; 2016: approximately 5% of net interest income). | |||
[4] | Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. | |||
[5] | Consists of interest expense on amounts due to banks and customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. | |||
[6] | Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. | |||
[7] | Includes dividend income. | |||
[8] | Includes interest income on certain reverse repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding repurchase agreements. | |||
[9] | Includes expense related to dividend payment obligations on financial instruments held for trading. | |||
[10] | Includes interest expense on certain repurchase agreements that are measured at fair value through profit or loss since 1 January 2018 and negative interest, including fees, on the corresponding reverse repurchase agreements. | |||
[11] | Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Other net income from fair value changes on financial instruments. 2018 includes a net gain of USD 2,152 million related to amounts due under unit-linked investment contracts, which are designated at fair value under IFRS 9. Refer to Note 1c for more information. | |||
[12] | Net interest income and other net income from fair value changes on financial instruments presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM | |||
[13] | Mainly includes spread-related income in connection with client-driven transactions, foreign currency translation effects and income and expenses from precious metals, which are included in the income statement line Other net income from fair value changes on financial instruments. |
Net interest income and other_3
Net interest income and other net income from fair value changes on financial instruments (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | ||
Net Gains Losses From Financial Assets Previously Designated At Fair Value Under IAS39 Now Mandatorily Classified At Fair Value Through Profit Or Loss Under IFRS9 | $ 2,614 | $ (174) |
UBS AG | ||
Disclosure Net Interest Income And Other Net Income From Fair Value Changes On Financial Instruments [Line Items] | ||
Net Gains Losses From Financial Assets Previously Designated At Fair Value Under IAS39 Now Mandatorily Classified At Fair Value Through Profit Or Loss Under IFRS9 | $ 2,567 | $ (171) |
Net fee and commission income_2
Net fee and commission income (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Net fee And Commission Income [Line Items] | ||||
Underwriting Fees | [1] | $ 811 | $ 1,003 | $ 739 |
of which: equity underwriting fees | [1] | 431 | 573 | 356 |
of which: debt underwriting fees | [1] | 380 | 429 | 383 |
M&A and corporate finance fees | [1] | 768 | 698 | 742 |
Brokerage fees | [1] | 3,521 | 3,820 | 3,802 |
Investment fund fees | [1] | 4,954 | 4,322 | 4,265 |
Portfolio management and related services | [1] | 7,756 | 7,666 | 7,069 |
Other | [1] | 1,786 | 1,854 | 1,757 |
Total fee and commission income | [1],[2] | 19,598 | 19,362 | 18,374 |
Brokerage fees paid | [1] | 316 | 673 | 769 |
Other | [1] | 1,387 | 1,167 | 1,013 |
Total fee and commission expense | [1] | 1,703 | 1,840 | 1,781 |
Net fee and commission income | [1] | 17,895 | 17,522 | 16,593 |
of which: net brokerage fees | [1] | 3,205 | 3,147 | 3,033 |
Global Wealth Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 12,059 | |||
Personal & Corporate Banking | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 1,338 | |||
Asset Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 2,579 | |||
Investment Bank | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 3,525 | |||
Corporate Center | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 97 | |||
Reclassification from Underwriting fees to Brokerage fees | ||||
Net fee And Commission Income [Line Items] | ||||
Amount reclassified upon adoption of IFRS 9 | 316 | 220 | ||
Reclassification from Portfolio management and related services to Investment fund fees | ||||
Net fee And Commission Income [Line Items] | ||||
Amount reclassified upon adoption of IFRS 9 | 1,040 | 1,061 | ||
of which: recurring | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 12,911 | ||
of which: transaction-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 6,594 | ||
of which: performance-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 93 | ||
UBS AG | ||||
Net fee And Commission Income [Line Items] | ||||
Underwriting Fees | [3] | 843 | 1,029 | 787 |
of which: equity underwriting fees | [3] | 431 | 573 | 356 |
of which: debt underwriting fees | [3] | 412 | 456 | 431 |
M&A and corporate finance fees | [3] | 768 | 698 | 742 |
Brokerage fees | [3] | 3,521 | 3,821 | 3,804 |
Investment fund fees | [3] | 4,955 | 4,322 | 4,265 |
Portfolio management and related services | [3] | 7,756 | 7,666 | 7,069 |
Other | [3] | 1,789 | 1,854 | 1,758 |
Total fee and commission income | [3],[4] | 19,632 | 19,390 | 18,425 |
Brokerage fees paid | [3] | 316 | 673 | 769 |
Other | [3] | 1,387 | 1,167 | 1,013 |
Total fee and commission expense | [3] | 1,703 | 1,840 | 1,781 |
Net fee and commission income | [3] | 17,930 | 17,550 | 16,644 |
of which: net brokerage fees | [3] | 3,205 | 3,148 | 3,035 |
UBS AG | Global Wealth Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 12,059 | |||
UBS AG | Personal & Corporate Banking | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 1,338 | |||
UBS AG | Asset Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 2,579 | |||
UBS AG | Investment Bank | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 3,557 | |||
UBS AG | Corporate Center | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 100 | |||
UBS AG | Reclassification from Underwriting fees to Brokerage fees | ||||
Net fee And Commission Income [Line Items] | ||||
Amount reclassified upon adoption of IFRS 9 | 316 | 220 | ||
UBS AG | Reclassification from Portfolio management and related services to Investment fund fees | ||||
Net fee And Commission Income [Line Items] | ||||
Amount reclassified upon adoption of IFRS 9 | $ 1,040 | $ 1,061 | ||
UBS AG | of which: recurring | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | 12,911 | ||
UBS AG | of which: transaction-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | 6,629 | ||
UBS AG | of which: performance-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | $ 93 | ||
[1] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||
[2] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,525 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 97 million for Corporate Center. | |||
[3] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||
[4] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,557 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 100 million for Corporate Center. |
Other income (Detail)
Other income (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from acquisitions disposals of subsidiaries | [3] | $ (290) | [1],[2] | $ 32 | $ (96) | |
Net gains / (losses) from disposals of investments in associates | 46 | [4] | 0 | 0 | ||
Share of net profits of associates and joint ventures | 529 | [5],[6] | 76 | [5] | 109 | |
Impairments related to associates | (7) | |||||
Total | 284 | 101 | 12 | |||
Financial assets measured at fair value through other comprehensive income | ||||||
Net gains / (losses) from disposals | 0 | 195 | 350 | |||
Impairments | 0 | (15) | (5) | |||
Total | 1 | 180 | 345 | |||
Net gains / (losses) from disposals of financial assets measured at amortized cost | 0 | 14 | (3) | |||
Net income from properties (excluding net gains / (losses) from disposals) | [7] | 24 | 24 | 26 | ||
Net gains / (losses) from disposals of properties held for sale | 40 | [1] | 0 | 128 | ||
Other | 79 | 191 | 156 | |||
Total other income | 427 | 511 | 663 | |||
Net gains / (losses) from remeasurements of acquisitions and disposals of subsidiaries | (270) | |||||
Net gains / (losses) from disposals of subsidiaries | 25 | |||||
Net gains / (losses) on sale of real estate | 31 | |||||
Share of profit (loss) of associates related to valuation gains | 460 | |||||
UBS AG | ||||||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from acquisitions disposals of subsidiaries | [3] | (292) | [1],[2] | 32 | (96) | |
Net gains / (losses) from disposals of investments in associates | 46 | [4] | 0 | 0 | ||
Share of net profits of associates and joint ventures | 529 | [5],[6] | 76 | [5] | 109 | |
Impairments related to associates | (7) | |||||
Total | 283 | 101 | 12 | |||
Financial assets measured at fair value through other comprehensive income | ||||||
Net gains / (losses) from disposals | 0 | 195 | 350 | |||
Impairments | 0 | (15) | (5) | |||
Total | 1 | 180 | 345 | |||
Net gains / (losses) from disposals of financial assets measured at amortized cost | 0 | 14 | (3) | |||
Net income from properties (excluding net gains / (losses) from disposals) | [7] | 24 | 24 | 26 | ||
Net gains / (losses) from disposals of properties held for sale | 40 | [1] | 0 | 128 | ||
Income from shared services provided to UBS Group AG or its subsidiaries | [8] | 478 | 395 | 48 | ||
Other | 80 | 238 | 193 | |||
Total other income | 905 | $ 952 | $ 749 | |||
Net gains / (losses) from remeasurements of acquisitions and disposals of subsidiaries | (270) | |||||
Net gains / (losses) from disposals of subsidiaries | 25 | |||||
Net gains / (losses) on sale of real estate | 31 | |||||
Share of profit (loss) of associates related to valuation gains | $ 460 | |||||
[1] | Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. | |||||
[2] | Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. | |||||
[3] | Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information | |||||
[4] | Reflects a net foreign currency translation gain related to UBS Securities China. Refer to Note 32 for more information. | |||||
[5] | For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. | |||||
[6] | Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. | |||||
[7] | Includes net rent received from third parties and net operating expenses. | |||||
[8] | Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
Personnel expenses (Detail)
Personnel expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Personnel Expenses [Line Items] | ||||
Salaries | [1] | $ 6,448 | $ 6,154 | $ 6,305 |
Variable compensation - performance awards | 2,995 | 3,151 | 3,013 | |
of which: guarantees for new hires | 43 | 36 | 30 | |
Variable compensation - other | 243 | 252 | 425 | |
of which: replacement payments | [2] | 72 | 72 | 87 |
of which: forfeiture credits | (136) | (107) | (74) | |
of which: severance payments | [3] | 123 | 113 | 220 |
of which: retention plan and other payments | [4] | 185 | 174 | 191 |
Financial advisor variable compensation | [5] | 4,054 | 4,064 | 3,740 |
Contractors | 489 | 460 | 426 | |
Social security | 791 | 814 | 755 | |
Pension and other post-employment benefit plans | [6] | 457 | 723 | 678 |
Other personnel expenses | 654 | 581 | 570 | |
Total personnel expenses | [7] | 16,132 | 16,199 | 15,913 |
Reduction of net periodic pension expenses due to changes in Swiss pension plan at announcement | 241 | |||
UBS AG | ||||
Personnel Expenses [Line Items] | ||||
Salaries | [1] | 5,199 | 5,423 | 6,210 |
Variable compensation - performance awards | 2,794 | 3,054 | 3,005 | |
of which: guarantees for new hires | 43 | 36 | 30 | |
Variable compensation - other | 220 | 231 | 425 | |
of which: replacement payments | [2] | 68 | 70 | 87 |
of which: forfeiture credits | (136) | (106) | (74) | |
of which: severance payments | [3] | 106 | 95 | 220 |
of which: retention plan and other payments | [4] | 181 | 172 | 191 |
Financial advisor variable compensation | [5] | 4,054 | 4,064 | 3,740 |
Contractors | 184 | 318 | 425 | |
Social security | 629 | 731 | 742 | |
Pension and other post-employment benefit plans | [8] | 363 | 601 | 677 |
Other personnel expenses | 549 | 531 | 559 | |
Total personnel expenses | [7],[9] | 13,992 | $ 14,952 | $ 15,782 |
Reduction of net periodic pension expenses due to changes in Swiss pension plan at announcement | $ 132 | |||
[1] | Includes role-based allowances | |||
[2] | Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. | |||
[3] | Includes legally obligated and standard severance payments. | |||
[4] | Includes interest expense related to Deferred Contingent Capital Plan awards. | |||
[5] | Financial advisor variable compensation consists of formulaic compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, new assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. | |||
[6] | Changes to the pension fund of UBS in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of USD 241 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. | |||
[7] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||
[8] | Changes to the pension fund of UBS AG in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS AG. As a consequence, a pre-tax gain of USD 132 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. | |||
[9] | The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. |
General and administrative ex_3
General and administrative expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
General And Administrative Expenses [Line Items] | ||||
Occupancy | $ 914 | $ 908 | $ 946 | |
Rent and maintenance of IT and other equipment | 654 | 570 | 517 | |
Communication and market data services | 638 | 622 | 634 | |
Administration | 590 | 612 | 716 | |
of which: UK and German bank levy | [1] | 58 | 20 | 124 |
Marketing and public relations | 366 | 419 | 473 | |
Travel and entertainment | 425 | 425 | 428 | |
Professional fees | 1,015 | 1,227 | 1,247 | |
Outsourcing of IT and other services | 1,427 | 1,597 | 1,656 | |
Litigation, regulatory and similar matters | [2] | 657 | 434 | 805 |
Other | 110 | 135 | 94 | |
Total general and administrative expenses | [3] | 6,797 | 6,949 | 7,517 |
Recoveries from third parties | 29 | 55 | 13 | |
UK bank levy net expenses | 40 | 17 | ||
UK bank levy credit from prior years | 45 | 85 | ||
UBS AG | ||||
General And Administrative Expenses [Line Items] | ||||
Occupancy | 852 | 865 | 931 | |
Rent and maintenance of IT and other equipment | 326 | 422 | 517 | |
Communication and market data services | 520 | 544 | 632 | |
Administration | 5,383 | 3,644 | 1,077 | |
of which: shared service costs charged by UBS Group AG or its subsidiaries | [4] | 4,803 | 3,046 | 370 |
of which: UK and German bank levy | [1] | 58 | 20 | 124 |
Marketing and public relations | 277 | 338 | 470 | |
Travel and entertainment | 367 | 382 | 416 | |
Professional fees | 870 | 1,086 | 1,238 | |
Outsourcing of IT and other services | 729 | 1,169 | 1,610 | |
Litigation, regulatory and similar matters | [2] | 657 | 434 | 805 |
Other | 95 | 118 | 79 | |
Total general and administrative expenses | [3] | 10,075 | 9,001 | 7,776 |
Recoveries from third parties | 29 | 55 | $ 13 | |
UK bank levy net expenses | 40 | 17 | ||
UK bank levy credit from prior years | $ 45 | $ 85 | ||
[1] | The UK bank levy expenses of USD 40 million for 2018 and USD 17 million for 2017 included a credit of USD 45 million and USD 85 million, respectively, related to prior years | |||
[2] | Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 21 for more information. Also includes recoveries from third parties of USD 29 million, USD 55 million and USD 13 million for the years ended 31 December 2018, 31 December 2017 and 31 December 2016, respectively. | |||
[3] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||
[4] | Relates to subsidiaries not in the UBS AG scope of consolidation. The increase in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information |
Income taxes (Narrative) (Detai
Income taxes (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | Jan. 01, 2017 | ||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | [1] | $ 1,468 | $ 4,305 | $ 777 | ||||
Deferred tax expense / (income) relating to changes in tax rates | 3,415 | |||||||
Deferred tax assets | 10,105 | [2] | 10,056 | [2] | $ 10,182 | $ 13,158 | ||
Net tax benefit recognized in other comprehensive income | 345 | 164 | ||||||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | $ 53 | 1,263 | ||||||
Description of tax laws applicable to unused tax losses | In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred prior to 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK tax losses for an unlimited period. | |||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 38,428 | 47,427 | ||||||
Switzerland | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 300 | 2,500 | ||||||
UK | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 14,200 | 14,300 | ||||||
United States | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 9,500 | 7,200 | ||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 20,000 | 28,600 | ||||||
Other locations | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 300 | 400 | ||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 4,200 | 4,500 | ||||||
Swiss | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | 2,846 | |||||||
Deferred tax expense / (income) of changes in previously recognized tax losses carried forward and deductible temporary differences | 760 | |||||||
Write-off on Swiss Temporary Difference DTA related to US Investment | 1,617 | |||||||
Non-Swiss | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | (1,378) | |||||||
Net increase / (decrease) of US deferred tax assets | 2,052 | |||||||
Other deferred tax expense / (income) | 99 | |||||||
UBS AG | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | [1] | 1,345 | 4,242 | $ 753 | ||||
Deferred tax expense / (income) relating to changes in tax rates | 3,399 | |||||||
Deferred tax assets | 10,066 | [2] | 9,993 | [2] | $ 10,118 | $ 13,147 | ||
Net tax benefit recognized in other comprehensive income | 314 | 159 | ||||||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | $ 53 | 1,216 | ||||||
Description of tax laws applicable to unused tax losses | In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK tax losses for an unlimited period. | |||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 38,428 | 47,427 | ||||||
UBS AG | Switzerland | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 300 | 2,500 | ||||||
UBS AG | UK | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 14,200 | 14,300 | ||||||
UBS AG | United States | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 9,500 | 7,200 | ||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 20,000 | 28,600 | ||||||
UBS AG | Other locations | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Deferred tax assets | 300 | 300 | ||||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 4,200 | $ 4,500 | ||||||
UBS AG | Swiss | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | 2,760 | |||||||
Deferred tax expense / (income) of changes in previously recognized tax losses carried forward and deductible temporary differences | 709 | |||||||
Write-off on Swiss Temporary Difference DTA related to US Investment | 1,617 | |||||||
UBS AG | Non-Swiss | ||||||||
Disclosure Income Taxes [Line Items] | ||||||||
Net tax expense | (1,415) | |||||||
Net increase / (decrease) of US deferred tax assets | 2,052 | |||||||
Other deferred tax expense / (income) | $ 100 | |||||||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||||
[2] | Less deferred tax liabilities as applicable. |
Income taxes (Detail 1)
Income taxes (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Major Components Of Tax Expense Income [Line Items] | ||||
Income tax expense / (benefit) | [1] | $ 1,468 | $ 4,305 | $ 777 |
Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 469 | 455 | 465 | |
Deferred tax expense / (benefit) | 2,377 | 107 | 614 | |
Income tax expense / (benefit) | 2,846 | |||
Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 575 | 435 | 356 | |
Deferred tax expense / (benefit) | (1,953) | 3,308 | (658) | |
Income tax expense / (benefit) | (1,378) | |||
UBS AG | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Income tax expense / (benefit) | [1] | 1,345 | 4,242 | 753 |
UBS AG | Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 434 | 408 | 431 | |
Deferred tax expense / (benefit) | 2,326 | 91 | 624 | |
Income tax expense / (benefit) | 2,760 | |||
UBS AG | Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 537 | 435 | 356 | |
Deferred tax expense / (benefit) | (1,952) | $ 3,308 | $ (658) | |
Income tax expense / (benefit) | $ (1,415) | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes |
Income taxes (Detail 2)
Income taxes (Detail 2) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | [1] | $ 5,991 | $ 5,351 | $ 4,209 |
Income taxes at Swiss tax rate of 21% | 1,258 | 1,124 | 884 | |
Increase / (decrease) resulting from: | ||||
Non-Swiss tax rates differing from Swiss tax rate | 55 | 217 | 73 | |
Tax effects of losses not recognized | 223 | 173 | 182 | |
Previously unrecognized tax losses now utilized | (25) | (368) | (38) | |
Non-taxable and lower taxed income | (430) | (309) | (347) | |
Non-deductible expenses and additional taxable income | 905 | 606 | 933 | |
Adjustments related to prior years - current tax | 114 | (13) | 22 | |
Adjustments related to prior years - deferred tax | 26 | 4 | 2 | |
Change in deferred tax recognition | (795) | (165) | (969) | |
Adjustments to deferred tax balances arising from changes in tax rates | 0 | 2,897 | 19 | |
Other items | 137 | 139 | 17 | |
Income tax expense / (benefit) | [1] | $ 1,468 | 4,305 | 777 |
Applicable tax rate | 21.00% | |||
Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | $ 1,843 | 2,093 | 2,674 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | 2,846 | |||
Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | 4,148 | 3,258 | 1,535 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | (1,378) | |||
UBS AG | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 5,458 | 5,076 | 4,188 |
Income taxes at Swiss tax rate of 21% | 1,146 | 1,066 | 879 | |
Increase / (decrease) resulting from: | ||||
Non-Swiss tax rates differing from Swiss tax rate | 68 | 230 | 70 | |
Tax effects of losses not recognized | 222 | 173 | 182 | |
Previously unrecognized tax losses now utilized | (25) | (368) | (38) | |
Non-taxable and lower taxed income | (419) | (306) | (337) | |
Non-deductible expenses and additional taxable income | 883 | 588 | 898 | |
Adjustments related to prior years - current tax | 114 | (14) | 22 | |
Adjustments related to prior years - deferred tax | 27 | 6 | 2 | |
Change in deferred tax recognition | (802) | (165) | (961) | |
Adjustments to deferred tax balances arising from changes in tax rates | 0 | 2,897 | 19 | |
Other items | 130 | 135 | 16 | |
Income tax expense / (benefit) | [1] | $ 1,345 | 4,242 | 753 |
Applicable tax rate | 21.00% | |||
UBS AG | Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | $ 1,427 | 1,911 | 2,614 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | 2,760 | |||
UBS AG | Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | 4,031 | $ 3,165 | $ 1,574 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | $ (1,415) | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes |
Income taxes - DTA (Detail 3.1)
Income taxes - DTA (Detail 3.1) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | $ 19,659 | $ 22,537 | ||||
Valuation allowance | [1] | (9,554) | (12,481) | ||||
Recognized | 10,105 | [1] | $ 10,182 | 10,056 | [1] | $ 13,158 | |
Tax loss carry-forwards | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 15,088 | 17,372 | ||||
Valuation allowance | [1] | (8,989) | (11,480) | ||||
Recognized | [1] | 6,099 | 5,892 | ||||
Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 4,571 | 5,165 | ||||
Valuation allowance | [1] | (565) | (1,001) | ||||
Recognized | [1] | 4,006 | 4,164 | ||||
of which: related to real estate costs capitalized for US tax purposes | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 2,159 | 0 | ||||
Valuation allowance | [1] | (25) | 0 | ||||
Recognized | [1] | 2,134 | 0 | ||||
of which: related to compensation and benefits | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 1,150 | 1,165 | ||||
Valuation allowance | [1] | (192) | (228) | ||||
Recognized | [1] | 959 | 937 | ||||
of which: related to trading assets | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 390 | 485 | ||||
Valuation allowance | [1] | (50) | (60) | ||||
Recognized | [1] | 339 | 425 | ||||
of which: related to investments in subsidiaries and goodwill | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 202 | 2,392 | ||||
Valuation allowance | [1] | 0 | 0 | ||||
Recognized | [1] | 202 | 2,392 | ||||
of which: other | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 670 | 1,123 | ||||
Valuation allowance | [1] | (298) | (713) | ||||
Recognized | [1] | 372 | 410 | ||||
UBS AG | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 19,614 | 22,474 | ||||
Valuation allowance | [1] | (9,548) | (12,481) | ||||
Recognized | 10,066 | [1] | $ 10,118 | 9,993 | [1] | $ 13,147 | |
UBS AG | Tax loss carry-forwards | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 15,088 | 17,372 | ||||
Valuation allowance | [1] | (8,989) | (11,480) | ||||
Recognized | [1] | 6,099 | 5,892 | ||||
UBS AG | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 4,526 | 5,102 | ||||
Valuation allowance | [1] | (559) | (1,001) | ||||
Recognized | [1] | 3,967 | 4,101 | ||||
UBS AG | of which: related to real estate costs capitalized for US tax purposes | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 2,159 | 0 | ||||
Valuation allowance | [1] | (25) | 0 | ||||
Recognized | [1] | 2,134 | 0 | ||||
UBS AG | of which: related to compensation and benefits | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 1,146 | 1,162 | ||||
Valuation allowance | [1] | (192) | (228) | ||||
Recognized | [1] | 954 | 934 | ||||
UBS AG | of which: related to trading assets | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 390 | 485 | ||||
Valuation allowance | [1] | (50) | (60) | ||||
Recognized | [1] | 339 | 425 | ||||
UBS AG | of which: related to investments in subsidiaries and goodwill | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 179 | 2,344 | ||||
Valuation allowance | [1] | 0 | 0 | ||||
Recognized | [1] | 179 | 2,344 | ||||
UBS AG | of which: other | Temporary differences | |||||||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||||||
Gross | [1] | 653 | 1,111 | ||||
Valuation allowance | [1] | (292) | (713) | ||||
Recognized | [1] | $ 361 | $ 398 | ||||
[1] | Less deferred tax liabilities as applicable. |
Income taxes - DTL (Detail 3.2)
Income taxes - DTL (Detail 3.2) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | $ 26 | $ 19 |
Other | 62 | 35 |
Total deferred tax liabilities | 88 | 54 |
UBS AG | ||
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | 26 | 19 |
Other | 62 | 32 |
Total deferred tax liabilities | $ 88 | $ 51 |
Income taxes (Detail 4)
Income taxes (Detail 4) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 38,428 | $ 47,427 |
Within 1 year | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 0 | 171 |
From 2 to 5 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 464 | 106 |
From 6 to 10 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 16,297 | 3,267 |
From 11 to 20 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 4,457 | 26,688 |
No expiry | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 17,210 | 17,195 |
UBS AG | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 38,428 | 47,427 |
UBS AG | Within 1 year | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 0 | 171 |
UBS AG | From 2 to 5 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 464 | 106 |
UBS AG | From 6 to 10 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 16,297 | 3,267 |
UBS AG | From 11 to 20 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 4,457 | 26,688 |
UBS AG | No expiry | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 17,210 | $ 17,195 |
Earnings per share and shares_3
Earnings per share and shares outstanding (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Basic earnings | ||||
Net profit / (loss) attributable to shareholders | $ 4,516 | $ 969 | $ 3,348 | |
Diluted earnings | ||||
Net profit / (loss) attributable to shareholders | 4,516 | 969 | 3,348 | |
Less: (profit) / loss on own equity derivative contracts | (2) | 0 | 0 | |
Net profit / (loss) attributable to shareholders for diluted EPS | $ 4,514 | $ 969 | $ 3,348 | |
Weighted average shares outstanding | ||||
Weighted average shares outstanding for basic EPS | [1] | 3,730,297,877 | 3,716,174,261 | 3,719,764,322 |
Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding | 111,271,269 | 120,540,272 | 104,244,665 | |
Weighted average shares outstanding for diluted EPS | 3,841,569,146 | 3,836,714,533 | 3,824,008,987 | |
Earnings per share | ||||
Basic | $ 1.21 | $ 0.26 | $ 0.9 | |
Diluted | $ 1.18 | $ 0.25 | $ 0.88 | |
Shares outstanding | ||||
Shares issued | 3,855,634,749 | 3,853,096,603 | 3,850,766,389 | |
Treasury shares | 166,467,802 | 132,301,550 | 138,441,772 | |
Shares outstanding | 3,689,166,947 | 3,720,795,053 | 3,712,324,617 | |
UBS AG | ||||
Basic earnings | ||||
Net profit / (loss) attributable to shareholders | $ 4,107 | $ 758 | $ 3,351 | |
Diluted earnings | ||||
Net profit / (loss) attributable to shareholders | $ 4,107 | $ 758 | $ 3,351 | |
Shares outstanding | ||||
Shares issued | 3,858,408,466 | 3,858,408,466 | ||
[1] | The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. |
Potentially dilutive instrument
Potentially dilutive instruments (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Potentially Dilutive Instruments [Line Items] | |||
Employee share-based compensation awards | 3,605,198 | 24,124,341 | 46,981,698 |
Other equity derivative contracts | 11,912,450 | 9,122,496 | 8,419,122 |
Total | 15,517,648 | 33,246,837 | 55,400,820 |
Expected credit loss measurem_3
Expected credit loss measurement - On-balance sheet financial assets subject to ECL (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | $ 593,770 | $ 559,208 | ||||
Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 587,104 | 552,277 | ||||
Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16,868 | 14,074 | ||||
Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 23,602 | 24,040 | ||||
Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 320,352 | 318,480 | ||||
Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 126,335 | 122,652 | ||||
Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 36,474 | 36,824 | ||||
Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 11,390 | 11,289 | ||||
Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 9,924 | 10,589 | ||||
Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 111,722 | 114,638 | ||||
Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 1,529 | |||||
Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,260 | |||||
Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 22,563 | 18,775 | ||||
Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,291 | 3,165 | ||||
Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 6,667 | 6,930 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 570,763 | 528,619 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 564,096 | 521,689 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16,666 | 14,055 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 23,602 | 24,040 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 298,248 | 288,420 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 115,679 | 106,554 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 28,578 | 26,888 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 10,845 | 10,626 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 8,029 | 8,431 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 111,707 | 114,621 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 1,216 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 2,798 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 21,862 | 18,265 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,104 | 2,949 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 6,667 | 6,930 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,582 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,582 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 202 | 19 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,357 | 28,531 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 9,859 | 15,394 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 7,858 | 9,907 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 457 | 572 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 1,263 | 1,557 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 297 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 445 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 223 | 33 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 62 | 33 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | $ 432 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,006 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,006 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,529 | [1],[2] | 432 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 796 | 704 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 38 | 29 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 88 | 90 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 632 | 601 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 14 | 17 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 125 | 184 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Gross carrying amount | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 594,706 | 592,800 | |||||
Gross carrying amount | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 588,039 | 584,700 | |||||
Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 16,875 | 14,100 | |||||
Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 95,350 | 92,000 | |||||
Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 23,601 | 24,000 | |||||
Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 321,124 | 326,700 | |||||
Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 22,718 | 37,800 | |||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 108,370 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 16,669 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 95,350 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 23,601 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 298,316 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 21,905 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 203 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 20,510 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 227 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 3 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 836 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 54 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 170 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 888 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 31 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 586 | ||||||
Allowance for expected credit loss | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
Allowance for expected credit loss | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
Allowance for expected credit loss | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (138) | (128) | |||||
Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (59) | (64) | |||||
Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (95) | (71) | |||||
Allowance for expected credit loss | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (281) | (295) | |||||
Allowance for expected credit loss | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (21) | (86) | |||||
Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (30) | ||||||
Allowance for expected credit loss | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (86) | ||||||
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
Allowance for expected credit loss | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (113) | (118) | |||||
Allowance for expected credit loss | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (3) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (69) | (62) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (16) | (12) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | (4) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (9) | (6) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (13) | (8) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (5) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (6) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (5) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (43) | (30) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (34) | (29) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (155) | (167) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (83) | (71) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (40) | (54) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (12) | (24) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (13) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (1) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (1) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (660) | (772) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (549) | (661) | (672) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (39) | (45) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (16) | (6) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (82) | (65) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (256) | (262) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (17) | (81) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (11) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (78) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (109) | (108) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (77) | (89) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 594,750 | 561,442 | ||||
UBS AG | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 588,084 | 554,512 | ||||
UBS AG | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
UBS AG | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16,642 | 14,027 | ||||
UBS AG | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
UBS AG | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 23,603 | 24,040 | ||||
UBS AG | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 321,482 | 320,687 | [1] | ||||
UBS AG | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 126,335 | 122,652 | [1] | ||||
UBS AG | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 36,474 | 36,824 | [1] | ||||
UBS AG | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 11,390 | 11,289 | [1] | ||||
UBS AG | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 9,924 | 10,589 | [1] | ||||
UBS AG | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 111,722 | 113,461 | [1] | ||||
UBS AG | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 1,529 | |||||
UBS AG | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,260 | |||||
UBS AG | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 22,637 | 18,850 | ||||
UBS AG | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,291 | 3,166 | ||||
UBS AG | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 6,667 | 6,930 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 571,743 | 530,808 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 565,076 | 523,878 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16,440 | 14,007 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 23,603 | 24,040 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 299,378 | 290,582 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 115,679 | 106,553 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 28,578 | 26,888 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 10,845 | 10,626 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 8,029 | 8,431 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 111,707 | 113,444 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 1,216 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 2,798 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 21,936 | 18,339 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 3,104 | 2,948 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 6,667 | 6,930 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,628 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,628 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 202 | 18 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 20,357 | 28,575 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 9,859 | 15,394 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 7,858 | 9,907 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 457 | 571 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 1,263 | 1,557 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 297 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 445 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 223 | 33 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 62 | 33 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 432 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,007 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,007 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,530 | [1],[2] | 432 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 796 | 704 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 38 | 30 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 88 | 90 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 632 | 600 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 14 | 17 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 16 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 125 | 184 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Gross carrying amount | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 595,687 | 592,800 | |||||
UBS AG | Gross carrying amount | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 589,020 | 584,700 | |||||
UBS AG | Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 16,649 | 14,100 | |||||
UBS AG | Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 95,351 | 92,000 | |||||
UBS AG | Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 23,603 | 24,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 322,255 | 326,700 | |||||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 22,792 | 37,800 | |||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 108,370 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 16,443 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 95,351 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 23,603 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 299,448 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 21,979 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 203 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 20,510 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 227 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 3 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 836 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 54 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 170 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 888 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 31 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 586 | ||||||
UBS AG | Allowance for expected credit loss | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
UBS AG | Allowance for expected credit loss | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
UBS AG | Allowance for expected credit loss | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
UBS AG | Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
UBS AG | Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (138) | (128) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (59) | (64) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (95) | (71) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (281) | (295) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (21) | (86) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (30) | ||||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (86) | ||||||
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
UBS AG | Allowance for expected credit loss | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (113) | (118) | |||||
UBS AG | Allowance for expected credit loss | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (3) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (69) | (62) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (16) | (12) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | (4) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (9) | (6) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (13) | (8) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (5) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (6) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (5) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (43) | (30) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (34) | (29) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (155) | (167) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (83) | (71) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (40) | (54) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (12) | (24) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (13) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (4) | (1) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (2) | (1) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (660) | (772) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (549) | (661) | $ (672) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (39) | (45) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (16) | (6) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (82) | (65) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (256) | (262) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (17) | (81) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (11) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (78) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (109) | (108) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | (77) | (89) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||||||
Disclosure Of Credit Risk Exposure [Line Items] | |||||||
Financial assets | $ 0 | $ 0 | |||||
[1] | The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||||||
[2] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. | ||||||
[3] | December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. | ||||||
[4] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9 |
Expected credit loss measurem_4
Expected credit loss measurement - Off-balance sheet financial assets subject to ECL (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | $ 90,268 | $ 89,809 | |||||
Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 18,146 | 17,596 | $ 17,700 | ||||
Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,862 | ||||||
Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,298 | ||||||
Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,193 | ||||||
Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,097 | ||||||
Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 31,212 | 31,650 | 32,100 | ||||
Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22,019 | 22,568 | |||||
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 937 | 1,247 | 13,000 | ||||
Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 36,634 | 37,639 | |||||
Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,562 | 3,184 | |||||
Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,260 | ||||||
Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,505 | 4,893 | |||||
Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,343 | ||||||
Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,467 | ||||||
Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,339 | 1,677 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 86,830 | 85,972 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17,321 | 16,753 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,599 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,057 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,125 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,851 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 30,590 | 30,933 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 21,492 | 21,896 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 937 | 1,247 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 35,121 | 35,362 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,150 | 2,151 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,152 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,163 | 4,423 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,035 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,209 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,861 | 1,676 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,055 | 3,541 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 611 | 649 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 136 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 164 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 67 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 236 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 568 | 679 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 519 | 645 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,420 | 2,213 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 401 | 1,033 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 91 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 285 | 416 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 309 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 254 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 456 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 432 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 383 | 295 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | 194 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | 38 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7 | 26 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | 0 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | 64 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 57 | 54 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | 1 | [1] | ||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | [2] | 1,308 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | [3] | 383 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | ||||||
Allowance for expected credit loss | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (116) | (110) | |||||
Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (43) | (38) | |||||
Allowance for expected credit loss | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (8) | ||||||
Allowance for expected credit loss | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (26) | ||||||
Allowance for expected credit loss | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | ||||||
Allowance for expected credit loss | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (37) | (37) | |||||
Allowance for expected credit loss | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (31) | (28) | |||||
Allowance for expected credit loss | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (36) | (35) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (17) | (10) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (7) | (7) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | ||||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (59) | (50) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (7) | (6) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (3) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (32) | (25) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (26) | (19) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (19) | (19) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | (2) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | (5) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (23) | (25) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (5) | (8) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (16) | (15) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (12) | (7) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | (2) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [2] | |||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (34) | [3] | (34) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (34) | (30) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (25) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 92,486 | 89,809 | |||||
UBS AG | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 18,146 | 17,596 | 17,700 | ||||
UBS AG | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,862 | ||||||
UBS AG | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,298 | ||||||
UBS AG | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,193 | ||||||
UBS AG | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
UBS AG | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,097 | ||||||
UBS AG | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 31,212 | 31,650 | 32,100 | ||||
UBS AG | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22,019 | 22,568 | |||||
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 937 | 1,247 | 13,000 | ||||
UBS AG | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 38,851 | 37,639 | |||||
UBS AG | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,562 | 3,183 | |||||
UBS AG | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,260 | ||||||
UBS AG | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,505 | 4,893 | |||||
UBS AG | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
UBS AG | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,343 | ||||||
UBS AG | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,467 | ||||||
UBS AG | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,339 | 1,677 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 89,048 | 89,809 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17,321 | 17,596 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,599 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,057 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,125 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,851 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 30,590 | 31,650 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 21,492 | 21,896 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 937 | 1,247 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 37,338 | 37,639 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,150 | 2,151 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,152 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,163 | 4,422 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,035 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,209 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,861 | 1,677 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,055 | 3,541 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 611 | 649 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 136 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 164 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 67 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 236 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 568 | 679 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 519 | 645 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,420 | 2,213 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 401 | 1,033 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 91 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 285 | 416 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 309 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 254 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 456 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 432 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 383 | 295 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | 194 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | 38 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7 | 27 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | 0 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | 64 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 57 | 54 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | 1 | [1] | ||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | [2] | 1,308 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | [3] | 383 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | ||||||
UBS AG | Allowance for expected credit loss | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
UBS AG | Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (116) | (110) | |||||
UBS AG | Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (43) | (38) | |||||
UBS AG | Allowance for expected credit loss | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (8) | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (26) | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (37) | (37) | |||||
UBS AG | Allowance for expected credit loss | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (31) | (28) | |||||
UBS AG | Allowance for expected credit loss | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (36) | (35) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (17) | (10) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (7) | (7) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | ||||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
UBS AG | Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (59) | (50) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (7) | (6) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (3) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (32) | (25) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (26) | (19) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (19) | (19) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | (2) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | (5) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (23) | (25) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (5) | (8) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (4) | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (16) | (15) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (12) | (7) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (1) | (2) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (2) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (695) | (806) | $ (706) | [2] | |||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (34) | [3] | (34) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (34) | (30) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (6) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | (25) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Financial assets | $ 0 | $ 0 | |||||
[1] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. | ||||||
[2] | December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. | ||||||
[3] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9 |
Derivative instruments (Narrati
Derivative instruments (Narrative) (Detail 1) | Dec. 31, 2018 | Dec. 31, 2017 |
Interest rate swaps contract | Over-the-counter | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 56.00% | 54.00% |
Interest rate swaps contract | Over-the-counter | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 28.00% | 28.00% |
Interest rate swaps contract | Over-the-counter | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 16.00% | 18.00% |
Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 14.00% | 23.00% |
Credit default swaps | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 74.00% | 65.00% |
Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 12.00% | 12.00% |
UBS AG | Interest rate swaps contract | Over-the-counter | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 56.00% | 54.00% |
UBS AG | Interest rate swaps contract | Over-the-counter | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 28.00% | 28.00% |
UBS AG | Interest rate swaps contract | Over-the-counter | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 16.00% | 18.00% |
UBS AG | Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 14.00% | 23.00% |
UBS AG | Credit default swaps | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 74.00% | 65.00% |
UBS AG | Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 12.00% | 12.00% |
Derivative instruments (Detail
Derivative instruments (Detail 1) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Derivative [Line Items] | |||||||
PRV | $ 126,210 | [1],[2],[3],[4] | $ 121,285 | $ 121,285 | [1],[2],[3],[4] | $ 155,642 | |
Notional values related to PRV | [1],[2],[4],[5] | 4,238,600 | 4,167,700 | ||||
NRV | 125,723 | [1],[2],[4],[6],[7] | 119,196 | 119,137 | [1],[2],[4],[6],[7] | 151,121 | |
Notional values related to NRV | [1],[2],[4],[5] | 4,163,400 | 3,978,600 | ||||
Other notional values | [1],[2],[4],[5],[8] | 10,893,600 | 10,828,000 | ||||
Derivative loan commitments | 0 | 0 | |||||
Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 37,100 | 45,200 | ||||
Notional values related to PRV | [1],[4],[5] | 1,051,100 | 1,171,600 | ||||
NRV | [1],[4],[7] | 32,700 | 39,400 | ||||
Notional values related to NRV | [1],[4],[5] | 1,021,300 | 1,070,500 | ||||
Other notional values | [1],[4],[5],[8] | 10,778,800 | 10,732,800 | ||||
Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
Notional values related to PRV | [1],[4],[5] | 74,500 | 94,100 | ||||
NRV | [1],[4],[7] | 2,700 | 3,900 | ||||
Notional values related to NRV | [1],[4],[5] | 78,300 | 100,800 | ||||
Other notional values | [1],[4],[5],[8] | 1,200 | |||||
Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 53,500 | 48,400 | ||||
Notional values related to PRV | [1],[4],[5] | 2,625,700 | 2,450,300 | ||||
NRV | [1],[4],[7] | 53,400 | 46,700 | ||||
Notional values related to NRV | [1],[4],[5] | 2,517,300 | 2,250,000 | ||||
Other notional values | [1],[4],[5],[8] | 400 | 400 | ||||
Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 31,400 | 22,800 | ||||
Notional values related to PRV | [1],[4],[5] | 408,900 | 390,200 | ||||
NRV | [1],[4],[7] | 35,000 | 27,400 | ||||
Notional values related to NRV | [1],[4],[5] | 488,800 | 499,200 | ||||
Other notional values | [1],[4],[5],[8] | 105,900 | 85,000 | ||||
Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,800 | 1,800 | ||||
Notional values related to PRV | [1],[4],[5] | 46,400 | 33,900 | ||||
NRV | [1],[4],[7] | 1,500 | 1,600 | ||||
Notional values related to NRV | [1],[4],[5] | 38,500 | 37,800 | ||||
Other notional values | [1],[4],[5],[8] | 8,600 | 8,600 | ||||
Unsettled purchases of non-derivative financial instruments | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[9] | 200 | 100 | ||||
Notional values related to PRV | [1],[4],[5],[9] | 17,000 | 12,400 | ||||
NRV | [1],[4],[7],[9] | 100 | 100 | ||||
Notional values related to NRV | [1],[4],[5],[9] | 6,000 | 11,200 | ||||
Unsettled sales of non-derivative financial instruments | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[9] | 400 | 100 | ||||
Notional values related to PRV | [1],[4],[5],[9] | 15,100 | 15,200 | ||||
NRV | [1],[4],[7],[9] | 200 | 100 | ||||
Notional values related to NRV | [1],[4],[5],[9] | 13,200 | 9,000 | ||||
Forward contracts | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 100 | ||||
Notional values related to PRV | [1],[4],[5] | 1,400 | 22,600 | ||||
NRV | [1],[4],[7] | 100 | 300 | ||||
Notional values related to NRV | [1],[4],[5] | 3,100 | 8,500 | ||||
Other notional values | [1],[4],[5],[8] | 2,873,900 | 2,381,200 | ||||
Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 20,300 | 17,600 | ||||
Notional values related to PRV | [1],[4],[5] | 708,700 | 699,000 | ||||
NRV | [1],[4],[7] | 20,900 | 18,300 | ||||
Notional values related to NRV | [1],[4],[5] | 731,200 | 709,500 | ||||
Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 0 | 0 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 0 | 0 | ||||
Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 100 | 100 | ||||
Notional values related to PRV | [1],[4],[5] | 3,200 | 3,000 | ||||
NRV | [1],[4],[7] | 100 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 3,400 | 3,900 | ||||
Forward contracts | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 6,600 | 9,600 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 5,400 | 8,100 | ||||
Swaps | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 29,500 | 36,300 | ||||
Notional values related to PRV | [1],[4],[5] | 459,800 | 553,200 | ||||
NRV | [1],[4],[7] | 23,500 | 29,000 | ||||
Notional values related to NRV | [1],[4],[5] | 441,800 | 465,500 | ||||
Other notional values | [1],[4],[5],[8] | 7,189,100 | 7,724,900 | ||||
Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 4,700 | 3,400 | ||||
Notional values related to PRV | [1],[4],[5] | 78,500 | 73,000 | ||||
NRV | [1],[4],[7] | 5,600 | 5,700 | ||||
Notional values related to NRV | [1],[4],[5] | 86,300 | 103,000 | ||||
Swaps | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 700 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 15,200 | 8,700 | ||||
NRV | [1],[4],[7] | 400 | 400 | ||||
Notional values related to NRV | [1],[4],[5] | 9,900 | 13,100 | ||||
Options | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 7,600 | 8,700 | ||||
Notional values related to PRV | [1],[4],[5] | 562,200 | 572,600 | ||||
NRV | [1],[4],[7] | 9,000 | 10,100 | ||||
Notional values related to NRV | [1],[4],[5] | 550,000 | 561,400 | ||||
Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 8,300 | 6,300 | ||||
Notional values related to PRV | [1],[4],[5] | 613,800 | 438,100 | ||||
NRV | [1],[4],[7] | 7,800 | 6,000 | ||||
Notional values related to NRV | [1],[4],[5] | 577,400 | 407,900 | ||||
Options | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 5,500 | 6,000 | ||||
Notional values related to PRV | [1],[4],[5] | 97,600 | 78,600 | ||||
NRV | [1],[4],[7] | 7,200 | 8,400 | ||||
Notional values related to NRV | [1],[4],[5] | 139,600 | 128,200 | ||||
Options | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 400 | 300 | ||||
Notional values related to PRV | [1],[4],[5] | 18,600 | 11,600 | ||||
NRV | [1],[4],[7] | 300 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 16,100 | 8,100 | ||||
Options | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 27,700 | 23,200 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 26,300 | 35,200 | ||||
Other notional values | [1],[4],[5],[8] | 199,700 | 159,400 | ||||
Options | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 3,600 | 4,800 | ||||
NRV | [1],[4],[7] | 0 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 5,300 | 5,700 | ||||
Options | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 10,100 | 7,100 | ||||
Notional values related to PRV | [1],[4],[5] | 232,800 | 238,600 | ||||
NRV | [1],[4],[7] | 9,000 | 7,100 | ||||
Notional values related to NRV | [1],[4],[5] | 262,800 | 268,000 | ||||
Other notional values | [1],[4],[5],[8] | 34,100 | 31,800 | ||||
Options | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 100 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 2,900 | 1,000 | ||||
NRV | [1],[4],[7] | 0 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 3,700 | 4,600 | ||||
Other notional values | [1],[4],[5] | 100 | 300 | ||||
Futures | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5],[8] | 516,100 | 467,300 | ||||
Futures | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4] | 400 | 400 | ||||
Futures | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5],[8] | 71,700 | 53,300 | ||||
Futures | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5] | 8,500 | 8,400 | ||||
Agency transactions | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 0 | 0 | ||||
NRV | [1],[4],[7],[10] | 100 | 0 | ||||
Agency transactions | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 0 | 0 | ||||
NRV | [1],[4],[7],[10] | 100 | 0 | ||||
Agency transactions | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 11,200 | 6,300 | ||||
NRV | [1],[4],[7],[10] | 13,300 | 6,300 | ||||
Agency transactions | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 400 | 900 | ||||
NRV | [1],[4],[7],[10] | 700 | 900 | ||||
Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,700 | 2,700 | ||||
Notional values related to PRV | [1],[4],[5] | 68,800 | 87,400 | ||||
NRV | [1],[4],[7] | 2,100 | 3,000 | ||||
Notional values related to NRV | [1],[4],[5] | 73,200 | 96,800 | ||||
Other notional values | [1],[4],[5],[8] | 1,200 | |||||
Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 200 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 3,000 | 2,300 | ||||
NRV | [1],[4],[7] | 600 | 900 | ||||
Notional values related to NRV | [1],[4],[5] | 3,700 | 4,000 | ||||
Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 2,700 | 4,400 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 1,400 | 100 | ||||
Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 24,800 | 24,400 | ||||
Notional values related to PRV | [1],[4],[5] | 1,299,700 | 1,308,500 | ||||
NRV | [1],[4],[7] | 24,600 | 22,300 | ||||
Notional values related to NRV | [1],[4],[5] | 1,203,500 | 1,126,900 | ||||
UBS AG | |||||||
Derivative [Line Items] | |||||||
PRV | 126,212 | [1],[2],[3],[4] | 121,286 | 121,286 | [1],[2],[3],[4] | 155,642 | |
Notional values related to PRV | [1],[2],[4],[5] | 4,238,700 | 4,167,700 | ||||
NRV | 125,723 | [1],[2],[4],[6],[7] | $ 119,197 | 119,138 | [1],[2],[4],[6],[7] | $ 151,121 | |
Notional values related to NRV | [1],[2],[4],[5] | 4,163,400 | 3,978,600 | ||||
Other notional values | [1],[2],[4],[5],[8] | 10,893,600 | 10,828,000 | ||||
Derivative loan commitments | 0 | 0 | |||||
UBS AG | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 37,100 | 45,200 | ||||
Notional values related to PRV | [1],[4],[5] | 1,051,100 | 1,171,600 | ||||
NRV | [1],[4],[7] | 32,700 | 39,400 | ||||
Notional values related to NRV | [1],[4],[5] | 1,021,300 | 1,070,500 | ||||
Other notional values | [1],[4],[5],[8] | 10,778,800 | 10,732,800 | ||||
UBS AG | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
Notional values related to PRV | [1],[4],[5] | 74,500 | 94,100 | ||||
NRV | [1],[4],[7] | 2,700 | 3,900 | ||||
Notional values related to NRV | [1],[4],[5] | 78,300 | 100,800 | ||||
Other notional values | [1],[4],[5],[8] | 1,200 | |||||
UBS AG | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 53,500 | 48,400 | ||||
Notional values related to PRV | [1],[4],[5] | 2,625,800 | 2,450,300 | ||||
NRV | [1],[4],[7] | 53,400 | 46,700 | ||||
Notional values related to NRV | [1],[4],[5] | 2,517,300 | 2,250,000 | ||||
Other notional values | [1],[4],[5],[8] | 400 | 400 | ||||
UBS AG | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 31,400 | 22,800 | ||||
Notional values related to PRV | [1],[4],[5] | 408,900 | 390,200 | ||||
NRV | [1],[4],[7] | 35,000 | 27,400 | ||||
Notional values related to NRV | [1],[4],[5] | 488,800 | 499,200 | ||||
Other notional values | [1],[4],[5],[8] | 105,900 | 85,000 | ||||
UBS AG | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,800 | 1,800 | ||||
Notional values related to PRV | [1],[4],[5] | 46,400 | 33,900 | ||||
NRV | [1],[4],[7] | 1,500 | 1,600 | ||||
Notional values related to NRV | [1],[4],[5] | 38,500 | 37,800 | ||||
Other notional values | [1],[4],[5],[8] | 8,600 | 8,600 | ||||
UBS AG | Unsettled purchases of non-derivative financial instruments | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[9] | 200 | 100 | ||||
Notional values related to PRV | [1],[4],[5],[9] | 17,000 | 12,400 | ||||
NRV | [1],[4],[7],[9] | 100 | 100 | ||||
Notional values related to NRV | [1],[4],[5],[9] | 6,000 | 11,200 | ||||
UBS AG | Unsettled sales of non-derivative financial instruments | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[9] | 400 | 100 | ||||
Notional values related to PRV | [1],[4],[5],[9] | 15,100 | 15,200 | ||||
NRV | [1],[4],[7],[9] | 200 | 100 | ||||
Notional values related to NRV | [1],[4],[5],[9] | 13,200 | 9,000 | ||||
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 100 | ||||
Notional values related to PRV | [1],[4],[5] | 1,400 | 22,600 | ||||
NRV | [1],[4],[7] | 100 | 300 | ||||
Notional values related to NRV | [1],[4],[5] | 3,100 | 8,500 | ||||
Other notional values | [1],[4],[5],[8] | 2,873,900 | 2,381,200 | ||||
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 20,300 | 17,600 | ||||
Notional values related to PRV | [1],[4],[5] | 708,800 | 699,000 | ||||
NRV | [1],[4],[7] | 20,900 | 18,300 | ||||
Notional values related to NRV | [1],[4],[5] | 731,200 | 709,500 | ||||
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 0 | 0 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 0 | 0 | ||||
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 100 | 100 | ||||
Notional values related to PRV | [1],[4],[5] | 3,200 | 3,000 | ||||
NRV | [1],[4],[7] | 100 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 3,400 | 3,900 | ||||
UBS AG | Forward contracts | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 6,600 | 9,600 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 5,400 | 8,100 | ||||
UBS AG | Swaps | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 29,500 | 36,300 | ||||
Notional values related to PRV | [1],[4],[5] | 459,800 | 553,200 | ||||
NRV | [1],[4],[7] | 23,500 | 29,000 | ||||
Notional values related to NRV | [1],[4],[5] | 441,800 | 465,500 | ||||
Other notional values | [1],[4],[5],[8] | 7,189,100 | 7,724,900 | ||||
UBS AG | Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 4,700 | 3,400 | ||||
Notional values related to PRV | [1],[4],[5] | 78,500 | 73,000 | ||||
NRV | [1],[4],[7] | 5,600 | 5,700 | ||||
Notional values related to NRV | [1],[4],[5] | 86,300 | 103,000 | ||||
UBS AG | Swaps | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 700 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 15,200 | 8,700 | ||||
NRV | [1],[4],[7] | 400 | 400 | ||||
Notional values related to NRV | [1],[4],[5] | 9,900 | 13,100 | ||||
UBS AG | Options | Over-the-counter (OTC) contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 7,600 | 8,700 | ||||
Notional values related to PRV | [1],[4],[5] | 562,200 | 572,600 | ||||
NRV | [1],[4],[7] | 9,000 | 10,100 | ||||
Notional values related to NRV | [1],[4],[5] | 550,000 | 561,400 | ||||
UBS AG | Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 8,300 | 6,300 | ||||
Notional values related to PRV | [1],[4],[5] | 613,800 | 438,100 | ||||
NRV | [1],[4],[7] | 7,800 | 6,000 | ||||
Notional values related to NRV | [1],[4],[5] | 577,400 | 407,900 | ||||
UBS AG | Options | Over-the-counter (OTC) contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 5,500 | 6,000 | ||||
Notional values related to PRV | [1],[4],[5] | 97,600 | 78,600 | ||||
NRV | [1],[4],[7] | 7,200 | 8,400 | ||||
Notional values related to NRV | [1],[4],[5] | 139,600 | 128,200 | ||||
UBS AG | Options | Over-the-counter (OTC) contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 400 | 300 | ||||
Notional values related to PRV | [1],[4],[5] | 18,600 | 11,600 | ||||
NRV | [1],[4],[7] | 300 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 16,100 | 8,100 | ||||
UBS AG | Options | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 27,700 | 23,200 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 26,300 | 35,200 | ||||
Other notional values | [1],[4],[5],[8] | 199,700 | 159,400 | ||||
UBS AG | Options | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 3,600 | 4,800 | ||||
NRV | [1],[4],[7] | 0 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 5,300 | 5,700 | ||||
UBS AG | Options | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 10,100 | 7,100 | ||||
Notional values related to PRV | [1],[4],[5] | 232,800 | 238,600 | ||||
NRV | [1],[4],[7] | 9,000 | 7,100 | ||||
Notional values related to NRV | [1],[4],[5] | 262,800 | 268,000 | ||||
Other notional values | [1],[4],[5],[8] | 34,100 | 31,800 | ||||
UBS AG | Options | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 100 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 2,900 | 1,000 | ||||
NRV | [1],[4],[7] | 0 | 100 | ||||
Notional values related to NRV | [1],[4],[5] | 3,700 | 4,600 | ||||
Other notional values | [1],[4],[5] | 100 | 300 | ||||
UBS AG | Futures | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5],[8] | 516,100 | 467,300 | ||||
UBS AG | Futures | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4] | 400 | 400 | ||||
UBS AG | Futures | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5],[8] | 71,700 | 53,300 | ||||
UBS AG | Futures | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
Other notional values | [1],[4],[5] | 8,500 | 8,400 | ||||
UBS AG | Agency transactions | Exchange-traded contracts | Interest rate risk | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 0 | 0 | ||||
NRV | [1],[4],[7],[10] | 100 | 0 | ||||
UBS AG | Agency transactions | Exchange-traded contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 0 | 0 | ||||
NRV | [1],[4],[7],[10] | 100 | 0 | ||||
UBS AG | Agency transactions | Exchange-traded contracts | Equity / index contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 11,200 | 6,300 | ||||
NRV | [1],[4],[7],[10] | 13,300 | 6,300 | ||||
UBS AG | Agency transactions | Exchange-traded contracts | Commodity contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4],[10] | 400 | 900 | ||||
NRV | [1],[4],[7],[10] | 700 | 900 | ||||
UBS AG | Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 1,700 | 2,700 | ||||
Notional values related to PRV | [1],[4],[5] | 68,800 | 87,400 | ||||
NRV | [1],[4],[7] | 2,100 | 3,000 | ||||
Notional values related to NRV | [1],[4],[5] | 73,200 | 96,800 | ||||
Other notional values | [1],[4],[5],[8] | 1,200 | |||||
UBS AG | Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 200 | 200 | ||||
Notional values related to PRV | [1],[4],[5] | 3,000 | 2,300 | ||||
NRV | [1],[4],[7] | 600 | 900 | ||||
Notional values related to NRV | [1],[4],[5] | 3,700 | 4,000 | ||||
UBS AG | Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 0 | 0 | ||||
Notional values related to PRV | [1],[4],[5] | 2,700 | 4,400 | ||||
NRV | [1],[4],[7] | 0 | 0 | ||||
Notional values related to NRV | [1],[4],[5] | 1,400 | 100 | ||||
UBS AG | Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||||||
Derivative [Line Items] | |||||||
PRV | [1],[3],[4] | 24,800 | 24,400 | ||||
Notional values related to PRV | [1],[4],[5] | 1,299,700 | 1,308,500 | ||||
NRV | [1],[4],[7] | 24,600 | 22,300 | ||||
Notional values related to NRV | [1],[4],[5] | $ 1,203,500 | $ 1,126,900 | ||||
[1] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | ||||||
[3] | PRV: positive replacement value. | ||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | ||||||
[5] | In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. | ||||||
[6] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[7] | NRV: negative replacement value. | ||||||
[8] | Other notional values relate to derivatives that are cleared through either a central counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for all periods presented. | ||||||
[9] | Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. | ||||||
[10] | Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed as they have a significantly different risk profile. |
Derivative instruments (Detai_2
Derivative instruments (Detail 2) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Credit Derivatives [Line Items] | |||||||
PRV | $ 126,210 | [1],[2],[3],[4] | $ 121,285 | $ 121,285 | [1],[2],[3],[4] | $ 155,642 | |
NRV | 125,723 | [1],[2],[4],[5],[6] | 119,196 | 119,137 | [1],[2],[4],[5],[6] | 151,121 | |
Credit derivative contracts | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
NRV | [1],[4],[6] | 2,700 | 3,900 | ||||
Protection bought | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 1,100 | 800 | |||||
NRV | 1,600 | 3,000 | |||||
Notional values | 81,300 | 104,500 | |||||
Protection bought | of which: credit derivatives related to economic hedges | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 900 | 800 | |||||
NRV | 1,300 | 2,500 | |||||
Notional values | 59,200 | 83,700 | |||||
Protection bought | of which: credit derivatives related to market-making | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 0 | |||||
NRV | 400 | 500 | |||||
Notional values | 22,100 | 20,900 | |||||
Protection bought | Single-name credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 600 | 600 | |||||
NRV | 600 | 1,200 | |||||
Notional values | 43,300 | 62,900 | |||||
Protection bought | Multi-name index-linked credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 200 | |||||
NRV | 300 | 1,000 | |||||
Notional values | 29,100 | 32,600 | |||||
Protection bought | Multi-name other credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 100 | 100 | |||||
Protection bought | Total rate of return swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 0 | |||||
NRV | 700 | 800 | |||||
Notional values | 4,700 | 4,600 | |||||
Protection bought | Options and warrants | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 4,100 | 4,400 | |||||
Protection sold | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 800 | 2,100 | |||||
NRV | 1,200 | 900 | |||||
Notional values | 71,400 | 91,700 | |||||
Protection sold | of which: credit derivatives related to economic hedges | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 500 | 1,600 | |||||
NRV | 1,100 | 900 | |||||
Notional values | 48,900 | 72,300 | |||||
Protection sold | of which: credit derivatives related to market-making | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 500 | |||||
NRV | 200 | 0 | |||||
Notional values | 22,600 | 19,400 | |||||
Protection sold | Single-name credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 500 | 1,100 | |||||
NRV | 1,000 | 700 | |||||
Notional values | 44,900 | 57,100 | |||||
Protection sold | Multi-name index-linked credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 900 | |||||
NRV | 200 | 200 | |||||
Notional values | 24,400 | 32,800 | |||||
Protection sold | Multi-name other credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 100 | 0 | |||||
Protection sold | Total rate of return swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 100 | |||||
NRV | 0 | 0 | |||||
Notional values | 2,000 | 1,700 | |||||
Protection sold | Options and warrants | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 100 | 100 | |||||
UBS AG | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 126,212 | [1],[2],[3],[4] | 121,286 | 121,286 | [1],[2],[3],[4] | 155,642 | |
NRV | 125,723 | [1],[2],[4],[5],[6] | $ 119,197 | 119,138 | [1],[2],[4],[5],[6] | $ 151,121 | |
UBS AG | Credit derivative contracts | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
NRV | [1],[4],[6] | 2,700 | 3,900 | ||||
UBS AG | Protection bought | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 1,100 | 800 | |||||
NRV | 1,600 | 3,000 | |||||
Notional values | 81,300 | 104,500 | |||||
UBS AG | Protection bought | of which: credit derivatives related to economic hedges | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 900 | 800 | |||||
NRV | 1,300 | 2,500 | |||||
Notional values | 59,200 | 83,700 | |||||
UBS AG | Protection bought | of which: credit derivatives related to market-making | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 0 | |||||
NRV | 400 | 500 | |||||
Notional values | 22,100 | 20,900 | |||||
UBS AG | Protection bought | Single-name credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 600 | 600 | |||||
NRV | 600 | 1,200 | |||||
Notional values | 43,300 | 62,900 | |||||
UBS AG | Protection bought | Multi-name index-linked credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 200 | |||||
NRV | 300 | 1,000 | |||||
Notional values | 29,100 | 32,600 | |||||
UBS AG | Protection bought | Multi-name other credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 100 | 100 | |||||
UBS AG | Protection bought | Total rate of return swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 0 | |||||
NRV | 700 | 800 | |||||
Notional values | 4,700 | 4,600 | |||||
UBS AG | Protection bought | Options and warrants | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 4,100 | 4,400 | |||||
UBS AG | Protection sold | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 800 | 2,100 | |||||
NRV | 1,200 | 900 | |||||
Notional values | 71,400 | 91,700 | |||||
UBS AG | Protection sold | of which: credit derivatives related to economic hedges | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 500 | 1,600 | |||||
NRV | 1,100 | 900 | |||||
Notional values | 48,900 | 72,300 | |||||
UBS AG | Protection sold | of which: credit derivatives related to market-making | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 500 | |||||
NRV | 200 | 0 | |||||
Notional values | 22,600 | 19,400 | |||||
UBS AG | Protection sold | Single-name credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 500 | 1,100 | |||||
NRV | 1,000 | 700 | |||||
Notional values | 44,900 | 57,100 | |||||
UBS AG | Protection sold | Multi-name index-linked credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 900 | |||||
NRV | 200 | 200 | |||||
Notional values | 24,400 | 32,800 | |||||
UBS AG | Protection sold | Multi-name other credit default swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | 100 | 0 | |||||
UBS AG | Protection sold | Total rate of return swaps | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 100 | |||||
NRV | 0 | 0 | |||||
Notional values | 2,000 | 1,700 | |||||
UBS AG | Protection sold | Options and warrants | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 0 | |||||
NRV | 0 | 0 | |||||
Notional values | $ 100 | $ 100 | |||||
[1] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | ||||||
[3] | PRV: positive replacement value. | ||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | ||||||
[5] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[6] | NRV: negative replacement value. |
Derivative instruments (Detai_3
Derivative instruments (Detail 3) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Credit Derivatives [Line Items] | |||||||
PRV | $ 126,210 | [1],[2],[3],[4] | $ 121,285 | $ 121,285 | [1],[2],[3],[4] | $ 155,642 | |
NRV | 125,723 | [1],[2],[4],[5],[6] | 119,196 | 119,137 | [1],[2],[4],[5],[6] | 151,121 | |
Credit derivative contracts | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
NRV | [1],[4],[6] | 2,700 | 3,900 | ||||
Protection bought | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 1,100 | 800 | |||||
NRV | 1,600 | 3,000 | |||||
Notional values | 81,300 | 104,500 | |||||
Protection bought | Broker-dealers | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 200 | |||||
NRV | 100 | 200 | |||||
Notional values | 13,000 | 16,600 | |||||
Protection bought | Banks | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 400 | 300 | |||||
NRV | 400 | 800 | |||||
Notional values | 29,200 | 38,000 | |||||
Protection bought | Central clearing counterparties | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 100 | |||||
NRV | 400 | 1,100 | |||||
Notional values | 31,900 | 42,500 | |||||
Protection bought | Other | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 300 | |||||
NRV | 700 | 900 | |||||
Notional values | 7,200 | 7,400 | |||||
Protection sold | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 800 | 2,100 | |||||
NRV | 1,200 | 900 | |||||
Notional values | 71,400 | 91,700 | |||||
Protection sold | Broker-dealers | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 100 | 200 | |||||
NRV | 200 | 100 | |||||
Notional values | 11,500 | 12,600 | |||||
Protection sold | Banks | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 600 | |||||
NRV | 500 | 400 | |||||
Notional values | 25,600 | 32,400 | |||||
Protection sold | Central clearing counterparties | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 400 | 1,000 | |||||
NRV | 300 | 100 | |||||
Notional values | 30,800 | 41,600 | |||||
Protection sold | Other | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 300 | |||||
NRV | 300 | 200 | |||||
Notional values | 3,500 | 5,000 | |||||
UBS AG | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 126,212 | [1],[2],[3],[4] | 121,286 | 121,286 | [1],[2],[3],[4] | 155,642 | |
NRV | 125,723 | [1],[2],[4],[5],[6] | $ 119,197 | 119,138 | [1],[2],[4],[5],[6] | $ 151,121 | |
UBS AG | Credit derivative contracts | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | [1],[3],[4] | 1,900 | 2,900 | ||||
NRV | [1],[4],[6] | 2,700 | 3,900 | ||||
UBS AG | Protection bought | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 1,100 | 800 | |||||
NRV | 1,600 | 3,000 | |||||
Notional values | 81,300 | 104,500 | |||||
UBS AG | Protection bought | Broker-dealers | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 200 | |||||
NRV | 100 | 200 | |||||
Notional values | 13,000 | 16,600 | |||||
UBS AG | Protection bought | Banks | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 400 | 300 | |||||
NRV | 400 | 800 | |||||
Notional values | 29,200 | 38,000 | |||||
UBS AG | Protection bought | Central clearing counterparties | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 200 | 100 | |||||
NRV | 400 | 1,100 | |||||
Notional values | 31,900 | 42,500 | |||||
UBS AG | Protection bought | Other | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 300 | |||||
NRV | 700 | 900 | |||||
Notional values | 7,200 | 7,400 | |||||
UBS AG | Protection sold | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 800 | 2,100 | |||||
NRV | 1,200 | 900 | |||||
Notional values | 71,400 | 91,700 | |||||
UBS AG | Protection sold | Broker-dealers | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 100 | 200 | |||||
NRV | 200 | 100 | |||||
Notional values | 11,500 | 12,600 | |||||
UBS AG | Protection sold | Banks | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 300 | 600 | |||||
NRV | 500 | 400 | |||||
Notional values | 25,600 | 32,400 | |||||
UBS AG | Protection sold | Central clearing counterparties | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 400 | 1,000 | |||||
NRV | 300 | 100 | |||||
Notional values | 30,800 | 41,600 | |||||
UBS AG | Protection sold | Other | |||||||
Credit Derivatives [Line Items] | |||||||
PRV | 0 | 300 | |||||
NRV | 300 | 200 | |||||
Notional values | $ 3,500 | $ 5,000 | |||||
[1] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | ||||||
[3] | PRV: positive replacement value. | ||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | ||||||
[5] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[6] | NRV: negative replacement value. |
Derivative instruments (Narra_2
Derivative instruments (Narrative) (Detail 2) $ in Billions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Derivative Instruments [Line Items] | |
Additional contractual obligations related to OTC derivatives required in the event of a one-notch reduction in long-term credit ratings of UBS | $ 0 |
Additional contractual obligations related to OTC derivatives required in the event of a two-notch reduction in long-term credit ratings of UBS | 0.3 |
Additional contractual obligations related to OTC derivatives required in the event of a three-notch reduction in long-term credit ratings of UBS | 1 |
UBS AG | |
Disclosure Of Derivative Instruments [Line Items] | |
Additional contractual obligations related to OTC derivatives required in the event of a one-notch reduction in long-term credit ratings of UBS | 0 |
Additional contractual obligations related to OTC derivatives required in the event of a two-notch reduction in long-term credit ratings of UBS | 0.3 |
Additional contractual obligations related to OTC derivatives required in the event of a three-notch reduction in long-term credit ratings of UBS | $ 1 |
Financial assets and liabilit_3
Financial assets and liabilities at fair value held for trading (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | $ 104,370 | [1] | $ 118,256 | $ 129,407 | [1] | $ 90,416 | |
Financial liabilities at fair value held for trading | 28,943 | [1],[2],[3] | 31,251 | 31,251 | [1],[2] | 22,425 | |
Government bills / bonds | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 11,161 | 13,186 | ||||
Financial liabilities at fair value held for trading | [1] | 2,839 | 5,549 | ||||
Corporate and municipal bonds | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 6,768 | 8,785 | ||||
Financial liabilities at fair value held for trading | [1] | 3,530 | 3,629 | ||||
Loans | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 3,566 | 3,946 | ||||
Investment fund units | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 9,716 | 9,881 | ||||
Financial liabilities at fair value held for trading | [1] | 689 | 841 | ||||
Asset-backed securities | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 392 | 377 | ||||
Equity instruments | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 72,768 | 81,623 | ||||
Financial liabilities at fair value held for trading | [1] | 21,886 | 21,230 | ||||
Financial assets for unit-linked investment contracts | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1],[4] | 11,609 | |||||
Other | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial liabilities at fair value held for trading | [1] | 0 | 2 | ||||
UBS AG | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | 104,513 | [1] | 118,359 | 129,509 | [1] | 90,501 | |
Financial liabilities at fair value held for trading | 28,949 | [1],[2],[3] | $ 31,251 | 31,251 | [1],[2] | $ 22,426 | |
UBS AG | Government bills / bonds | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 11,161 | 13,186 | ||||
Financial liabilities at fair value held for trading | [1] | 2,839 | 5,549 | ||||
UBS AG | Corporate and municipal bonds | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 6,908 | 8,886 | ||||
Financial liabilities at fair value held for trading | [1] | 3,530 | 3,629 | ||||
UBS AG | Loans | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 3,566 | 3,946 | ||||
UBS AG | Investment fund units | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 9,716 | 9,881 | ||||
Financial liabilities at fair value held for trading | [1] | 689 | 841 | ||||
UBS AG | Asset-backed securities | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 392 | 377 | ||||
UBS AG | Equity instruments | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1] | 72,771 | 81,624 | ||||
Financial liabilities at fair value held for trading | [1] | 21,892 | 21,230 | ||||
UBS AG | Financial assets for unit-linked investment contracts | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial assets at fair value held for trading | [1],[4] | 11,609 | |||||
UBS AG | Other | |||||||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||||||
Financial liabilities at fair value held for trading | [1] | $ 0 | $ 2 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||
[2] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[3] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | ||||||
[4] | Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Financial assets at fair valu_3
Financial assets at fair value not held for trading (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | $ 82,690 | [1] | $ 80,985 | $ 60,457 | [1] | $ 64,210 | |
Government bills / bonds | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 22,493 | 26,633 | ||||
Corporate and municipal bonds | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 17,236 | 22,022 | ||||
Financial assets for unit-linked investment contracts | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[2] | 21,446 | |||||
Loans | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 8,132 | 10,405 | ||||
Securities financing transactions | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[3] | 9,937 | 298 | ||||
Auction-rate securities | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[4] | 1,664 | |||||
Investment fund units | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 710 | 597 | ||||
Equity instruments | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[5] | 702 | |||||
Other | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 369 | 501 | ||||
UBS AG | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | 82,387 | [1] | $ 80,598 | 60,070 | [1] | $ 63,888 | |
UBS AG | Government bills / bonds | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 22,493 | 26,633 | ||||
UBS AG | Corporate and municipal bonds | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 17,236 | 22,022 | ||||
UBS AG | Financial assets for unit-linked investment contracts | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[2] | 21,446 | |||||
UBS AG | Loans | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 8,132 | 10,405 | ||||
UBS AG | Securities financing transactions | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[3] | 9,937 | 298 | ||||
UBS AG | Auction-rate securities | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[4] | 1,664 | |||||
UBS AG | Investment fund units | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | 407 | 210 | ||||
UBS AG | Equity instruments | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1],[5] | 702 | |||||
UBS AG | Other | |||||||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||||||
Financial assets at fair value not held for trading | [1] | $ 369 | $ 501 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||
[2] | Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||||||
[3] | Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||||||
[4] | Auction rate securities have been reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Financial assets measured at _3
Financial assets measured at fair value through OCI (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Jan. 01, 2017 | ||||
Debt instruments | |||||||
Government and government agencies | [1] | $ 6,463 | $ 7,181 | ||||
of which: USA | [1] | 6,101 | 6,739 | ||||
Banks | [1] | 149 | 307 | ||||
Corporates and other | [1] | 54 | 842 | ||||
Total debt instruments | [1] | 6,667 | 8,330 | ||||
Equity instruments | [1],[2] | 560 | |||||
Total financial assets measured at fair value through other comprehensive income | 6,667 | [1] | 8,889 | [1] | $ 6,930 | $ 15,402 | |
Unrealized gains - before tax | [1] | 4 | 221 | ||||
Unrealized (losses) - before tax | [1] | (146) | (108) | ||||
Net unrealized gains / (losses) - before tax | [1] | (143) | 114 | ||||
Net unrealized gains / (losses) - after tax | [1] | (104) | 6 | ||||
UBS AG | |||||||
Debt instruments | |||||||
Government and government agencies | [1] | 6,463 | 7,181 | ||||
of which: USA | [1] | 6,101 | 6,739 | ||||
Banks | [1] | 149 | 307 | ||||
Corporates and other | [1] | 54 | 842 | ||||
Total debt instruments | [1] | 6,667 | 8,330 | ||||
Equity instruments | [1],[2] | 560 | |||||
Total financial assets measured at fair value through other comprehensive income | 6,667 | [1] | 8,889 | [1] | $ 6,930 | $ 15,402 | |
Unrealized gains - before tax | [1] | 4 | 221 | ||||
Unrealized (losses) - before tax | [1] | (146) | (108) | ||||
Net unrealized gains / (losses) - before tax | [1] | (143) | 114 | ||||
Net unrealized gains / (losses) - after tax | [1] | $ (104) | $ 6 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement | ||||||
[2] | Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
Property, equipment and softw_3
Property, equipment and software (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | $ 9,057 | [1],[2] | $ 8,186 | |
Additions from acquired companies | 7 | |||
Balance at the end of the year | [1],[2] | 9,348 | 9,057 | |
Contractual commitments to purchase property in the future | 300 | 300 | ||
Leased assets | 26 | |||
Internally generated software in progress | 803 | |||
Own use properties in progress | 295 | |||
Leasehold improvements in progress | 59 | |||
Net reclassifications to properties held for sale | 70 | |||
Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 19,522 | 17,842 | ||
Additions | [3] | 1,702 | 1,638 | |
Disposals / write-offs | [4] | (849) | (634) | |
Reclassifications | (195) | [5] | (47) | |
Foreign currency translation | (213) | 724 | ||
Balance at the end of the year | 19,966 | 19,522 | ||
Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 10,465 | 9,656 | ||
Depreciation | 1,153 | 1,035 | ||
Impairment | [6] | 75 | 18 | |
Disposals / write-offs | [4] | (840) | (626) | |
Reclassifications | (124) | [5] | (5) | |
Foreign currency translation | 111 | (387) | ||
Balance at the end of the year | 10,619 | 10,465 | ||
Own-used properties | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,394 | |||
Balance at the end of the year | 3,179 | [1],[2] | 3,394 | |
Own-used properties | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 7,923 | |||
Additions | [3] | 21 | ||
Disposals / write-offs | [4] | (17) | ||
Reclassifications | (174) | |||
Foreign currency translation | (74) | |||
Balance at the end of the year | 7,679 | 7,923 | ||
Own-used properties | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 159 | |||
Impairment | [6] | 0 | ||
Disposals / write-offs | [4] | (16) | ||
Reclassifications | (129) | |||
Foreign currency translation | 42 | |||
Balance at the end of the year | 4,500 | |||
Leasehold improvements | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,306 | |||
Balance at the end of the year | 1,249 | [1],[2] | 1,306 | |
Leasehold improvements | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,375 | |||
Additions | [3] | 20 | ||
Disposals / write-offs | [4] | (386) | ||
Reclassifications | 152 | |||
Foreign currency translation | (40) | |||
Balance at the end of the year | 3,122 | 3,375 | ||
Leasehold improvements | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 198 | |||
Impairment | [6] | 2 | ||
Disposals / write-offs | [4] | (380) | ||
Reclassifications | 4 | |||
Foreign currency translation | 21 | |||
Balance at the end of the year | 1,873 | |||
IT hardware and communications equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 483 | |||
Balance at the end of the year | 491 | [1],[2] | 483 | |
IT hardware and communications equipment | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,615 | |||
Additions | [3] | 182 | ||
Disposals / write-offs | [4] | (213) | ||
Reclassifications | 8 | |||
Foreign currency translation | (25) | |||
Balance at the end of the year | 1,568 | 1,615 | ||
IT hardware and communications equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 172 | |||
Impairment | [6] | 3 | ||
Disposals / write-offs | [4] | (213) | ||
Reclassifications | 0 | |||
Foreign currency translation | 18 | |||
Balance at the end of the year | 1,077 | |||
Internally generated software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 2,412 | |||
Balance at the end of the year | 2,882 | [1],[2] | 2,412 | |
Internally generated software | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 4,266 | |||
Additions | [3] | 1 | ||
Disposals / write-offs | [4] | (108) | ||
Reclassifications | 1,054 | |||
Foreign currency translation | (41) | |||
Balance at the end of the year | 5,173 | 4,266 | ||
Internally generated software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 498 | |||
Impairment | [6] | 66 | ||
Disposals / write-offs | [4] | (108) | ||
Reclassifications | 0 | |||
Foreign currency translation | 18 | |||
Balance at the end of the year | 2,291 | |||
Purchased software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 159 | |||
Balance at the end of the year | 153 | [1],[2] | 159 | |
Purchased software | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 432 | |||
Additions | [3] | 50 | ||
Disposals / write-offs | [4] | (15) | ||
Reclassifications | 12 | |||
Foreign currency translation | (9) | |||
Balance at the end of the year | 469 | 432 | ||
Purchased software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 61 | |||
Impairment | [6] | 4 | ||
Disposals / write-offs | [4] | (15) | ||
Reclassifications | 0 | |||
Foreign currency translation | 7 | |||
Balance at the end of the year | 316 | |||
Other machines and equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 251 | |||
Balance at the end of the year | 238 | [1],[2] | 251 | |
Other machines and equipment | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 861 | |||
Additions | [3] | 21 | ||
Disposals / write-offs | [4] | (111) | ||
Reclassifications | 36 | |||
Foreign currency translation | (8) | |||
Balance at the end of the year | 799 | 861 | ||
Other machines and equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 65 | |||
Impairment | [6] | 0 | ||
Disposals / write-offs | [4] | (108) | ||
Reclassifications | 0 | |||
Foreign currency translation | 6 | |||
Balance at the end of the year | 561 | |||
Projects in progress | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,050 | |||
Balance at the end of the year | 1,157 | [1],[2],[7] | 1,050 | |
Projects in progress | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,050 | |||
Additions | [3] | 1,406 | ||
Disposals / write-offs | [4] | 0 | ||
Reclassifications | (1,283) | |||
Foreign currency translation | (16) | |||
Balance at the end of the year | 1,157 | 1,050 | ||
Projects in progress | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Depreciation | 0 | |||
Impairment | [6] | 0 | ||
Disposals / write-offs | [4] | 0 | ||
Reclassifications | 0 | |||
Foreign currency translation | 0 | |||
Balance at the end of the year | 0 | |||
UBS AG | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 8,191 | [8],[9] | 8,152 | |
Additions from acquired companies | 7 | |||
Balance at the end of the year | [8],[9] | 8,479 | 8,191 | |
Contractual commitments to purchase property in the future | 300 | 300 | ||
Leased assets | 22 | |||
Internally generated software in progress | 739 | |||
Own use properties in progress | 279 | |||
Leasehold improvements in progress | 58 | |||
Net reclassifications to properties held for sale | 70 | |||
UBS AG | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 17,705 | 17,789 | ||
Additions | [10] | 1,484 | 1,540 | |
Disposals / write-offs | [4] | (726) | (2,293) | |
Reclassifications | (195) | [11] | (47) | |
Foreign currency translation | (166) | 716 | ||
Balance at the end of the year | 18,102 | 17,705 | ||
UBS AG | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 9,514 | 9,638 | ||
Depreciation | 984 | 930 | ||
Impairment | [12] | 67 | 15 | |
Disposals / write-offs | [4] | (730) | (1,445) | |
Reclassifications | (124) | [11] | (7) | |
Foreign currency translation | 88 | (383) | ||
Balance at the end of the year | 9,623 | 9,514 | ||
UBS AG | Own-used properties | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,097 | |||
Balance at the end of the year | 2,900 | [8],[9] | 3,097 | |
UBS AG | Own-used properties | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 7,268 | |||
Additions | [10] | 16 | ||
Disposals / write-offs | [4] | (14) | ||
Reclassifications | (177) | |||
Foreign currency translation | (61) | |||
Balance at the end of the year | 7,031 | 7,268 | ||
UBS AG | Own-used properties | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 4,171 | |||
Depreciation | 139 | |||
Impairment | [12] | 0 | ||
Disposals / write-offs | [4] | (14) | ||
Reclassifications | (129) | |||
Foreign currency translation | 36 | |||
Balance at the end of the year | 4,132 | 4,171 | ||
UBS AG | Leasehold improvements | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,264 | |||
Balance at the end of the year | 1,200 | [8],[9] | 1,264 | |
UBS AG | Leasehold improvements | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,309 | |||
Additions | [10] | 18 | ||
Disposals / write-offs | [4] | (385) | ||
Reclassifications | 135 | |||
Foreign currency translation | (36) | |||
Balance at the end of the year | 3,042 | 3,309 | ||
UBS AG | Leasehold improvements | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 2,045 | |||
Depreciation | 189 | |||
Impairment | [12] | 2 | ||
Disposals / write-offs | [4] | (380) | ||
Reclassifications | 4 | |||
Foreign currency translation | 19 | |||
Balance at the end of the year | 1,842 | 2,045 | ||
UBS AG | IT hardware and communications equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 297 | |||
Balance at the end of the year | 269 | [8],[9] | 297 | |
UBS AG | IT hardware and communications equipment | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,044 | |||
Additions | [10] | 81 | ||
Disposals / write-offs | [4] | (111) | ||
Reclassifications | 0 | |||
Foreign currency translation | (12) | |||
Balance at the end of the year | 1,002 | 1,044 | ||
UBS AG | IT hardware and communications equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 747 | |||
Depreciation | 105 | |||
Impairment | [12] | 1 | ||
Disposals / write-offs | [4] | (111) | ||
Reclassifications | 1 | |||
Foreign currency translation | 10 | |||
Balance at the end of the year | 733 | 747 | ||
UBS AG | Internally generated software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 2,203 | |||
Balance at the end of the year | 2,718 | [8],[9] | 2,203 | |
UBS AG | Internally generated software | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,967 | |||
Additions | [10] | 30 | ||
Disposals / write-offs | [4] | (94) | ||
Reclassifications | 1,009 | |||
Foreign currency translation | (33) | |||
Balance at the end of the year | 4,879 | 3,967 | ||
UBS AG | Internally generated software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,763 | |||
Depreciation | 456 | |||
Impairment | [12] | 63 | ||
Disposals / write-offs | [4] | (107) | ||
Reclassifications | 0 | |||
Foreign currency translation | 14 | |||
Balance at the end of the year | 2,161 | 1,763 | ||
UBS AG | Purchased software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 91 | |||
Balance at the end of the year | 93 | [8],[9] | 91 | |
UBS AG | Purchased software | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 279 | |||
Additions | [10] | 27 | ||
Disposals / write-offs | [4] | (11) | ||
Reclassifications | 11 | |||
Foreign currency translation | (3) | |||
Balance at the end of the year | 303 | 279 | ||
UBS AG | Purchased software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 188 | |||
Depreciation | 35 | |||
Impairment | [12] | 0 | ||
Disposals / write-offs | [4] | (11) | ||
Reclassifications | 0 | |||
Foreign currency translation | 3 | |||
Balance at the end of the year | 209 | 188 | ||
UBS AG | Other machines and equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 238 | |||
Balance at the end of the year | 223 | [8],[9] | 238 | |
UBS AG | Other machines and equipment | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 836 | |||
Additions | [10] | 19 | ||
Disposals / write-offs | [4] | (111) | ||
Reclassifications | 32 | |||
Foreign currency translation | (7) | |||
Balance at the end of the year | 769 | 836 | ||
UBS AG | Other machines and equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 599 | |||
Depreciation | 61 | |||
Impairment | [12] | 0 | ||
Disposals / write-offs | [4] | (108) | ||
Reclassifications | 0 | |||
Foreign currency translation | 6 | |||
Balance at the end of the year | 546 | 599 | ||
UBS AG | Projects in progress | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,001 | |||
Balance at the end of the year | 1,076 | [8],[9],[13] | 1,001 | |
UBS AG | Projects in progress | Gross carrying amount | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,001 | |||
Additions | [10] | 1,294 | ||
Disposals / write-offs | [4] | 0 | ||
Reclassifications | (1,205) | |||
Foreign currency translation | (15) | |||
Balance at the end of the year | 1,076 | 1,001 | ||
UBS AG | Projects in progress | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 0 | |||
Depreciation | 0 | |||
Impairment | [12] | 0 | ||
Disposals / write-offs | [4] | 0 | ||
Reclassifications | 0 | |||
Foreign currency translation | 0 | |||
Balance at the end of the year | $ 0 | $ 0 | ||
[1] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||
[2] | Includes USD 26 million related to leased assets, mainly Own-used properties. | |||
[3] | Includes USD 7 million additional assets related to acquisition of businesses in 2018 | |||
[4] | Includes write-offs of fully depreciated assets. | |||
[5] | Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. | |||
[6] | Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. | |||
[7] | Consists of USD 803 million related to Internally generated software, USD 295 million related to Own-used properties and USD 59 million related to Leasehold improvements. | |||
[8] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | |||
[9] | Includes USD 22 million related to leased assets, mainly Own-used properties. | |||
[10] | Includes USD 7 million additional assets related to acquisition of businesses in 2018 | |||
[11] | Reflects reclassifications to Properties held for sale (USD 70 million on a net basis) of properties sold in 2018. | |||
[12] | Impairment charges recorded in 2018 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2018. | |||
[13] | Consists of USD 739 million related to Internally generated software, USD 279 million related to Own-used properties and USD 58 million related to Leasehold improvements. |
Goodwill and intangible asset_2
Goodwill and intangible assets (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |
Description of cash-generating unit | For annual tests prior to 2018, UBS considered the segments, as they were reported in Note 2a, as separate cash-generating units, as that was the level at which the performance of investments (and the related goodwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Management, UBS continued to separately monitor the goodwill previously allocated to the two former business divisions. As a consequence, for the purposes of goodwill impairment testing, the former Wealth Management and Wealth Management Americas business divisions are considered to be two separate cash-generating units, referred to in this Note as Global Wealth Management Americas1 and Global Wealth Management ex Americas. |
Information Whether Recoverable Amount Of Asset Is Fair Value Less Costs To Sell Or Value In Use | The impairment test is performed for each cash-generating unit to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective cash-generating unit. |
Increase (decrease) in goodwill impairment due to revision of equity attribution methodology | $ 0 |
Description Of Basis On Which Units Recoverable Amount Has Been Determined | The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a cash-generating unit is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support growth beyond this period. The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each cash-generating unit is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Corporate Center – Group Asset and Liability Management manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a cash-generating unit requires to conduct its business and is currently considered a reasonable approximation of the carrying value of the cash-generating units. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective cash-generating unit. |
Description Of Key Assumptions On Which Management Has Based Cash Flow Projections | Valuation parameters used within the Group’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the Board of Directors. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. Following the change of the Group’s reporting currency to USD, UBS has refined its assumptions on long-term growth rates and discount rates. The discount rates now take into account regional differences in risk free rates, at the level of individual CGUs. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on region. The change to nominal GDP forecasts for some regions results in higher long-term growth rates and thus higher recoverable amounts for all CGUs. The change did not affect the outcome of the impairment test. Key assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. At 31 December 2018, the Investment Bank’s recoverable amount exceeded its carrying amount by USD 2.5 billion. A reasonably possible change in the forecast earnings or the discount rate used in the calculation of the Investment Bank’s recoverable amount would cause its carrying amount to exceed the recoverable amount. More specifically, if forecast earnings used in the calculation of the Investment Bank’s recoverable amount were reduced by approximately 12% or the discount rate increased by 1.4 percentage points, then the Investment Bank’s recoverable amount would be equal to its carrying amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on the Group’s capital ratios. |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | 20.00% |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.50% |
Change in long-term growth rates used for goodwill impairment sensitivity analysis | 0.75% |
Investment Bank | |
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | (12.00%) |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.40% |
Recoverable amount of the impaired assets exceeds the carrying amount of the asset | $ 2,500,000,000 |
Difference between the recoverable and the carrying amount of the impaired assets equals the carrying amount of the asset with changed key assumptions | $ 0 |
UBS AG | |
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |
Description of cash-generating unit | For annual tests prior to 2018, UBS AG considered the segments, as they were reported in Note 2a, as separate cash-generating units, as that was the level at which the performance of investments (and the related goodwill) was reviewed and assessed by management. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Management, UBS AG continued to separately monitor the goodwill previously allocated to the two former business divisions. As a consequence, for the purposes of goodwill impairment testing, the former Wealth Management and Wealth Management Americas business divisions are considered to be two separate cash-generating units, referred to in this Note as Global Wealth Management Americas1 and Global Wealth Management ex Americas. |
Information Whether Recoverable Amount Of Asset Is Fair Value Less Costs To Sell Or Value In Use | The impairment test is performed for each cash-generating unit to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective cash-generating unit. |
Increase (decrease) in goodwill impairment due to revision of equity attribution methodology | $ 0 |
Description Of Basis On Which Units Recoverable Amount Has Been Determined | The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a cash-generating unit is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support growth beyond this period. The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each cash-generating unit is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Corporate Center – Group Asset and Liability Management manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a cash-generating unit requires to conduct its business and is currently considered a reasonable approximation of the carrying value of the cash-generating units. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective cash-generating unit. |
Description Of Key Assumptions On Which Management Has Based Cash Flow Projections | Valuation parameters used within UBS AG’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the Board of Directors. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. Following the change of UBS AG's reporting currency to USD, UBS AG has refined its assumptions on long-term growth rates and discount rates. The discount rates now take into account regional differences in risk free rates, at the level of individual CGUs. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on region. The change to nominal GDP forecasts for some regions results in higher long-term growth rates and thus higher recoverable amounts for all CGUs. The change did not affect the outcome of the impairment test. Key assumptions used to determine the recoverable amounts of each cash-generating unit are tested for sensitivity by applying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. At 31 December 2018, the Investment Bank’s recoverable amount exceeded its carrying amount by USD 2.5 billion. A reasonably possible change in the forecast earnings or the discount rate used in the calculation of the Investment Bank’s recoverable amount would cause its carrying amount to exceed the recoverable amount. More specifically, if forecast earnings used in the calculation of the Investment Bank’s recoverable amount were reduced by approximately 12% or the discount rate increased by 1.4 percentage points, then the Investment Bank’s recoverable amount would be equal to its carrying amount. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on UBS AG’s capital ratios. |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | 20.00% |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.50% |
Change in long-term growth rates used for goodwill impairment sensitivity analysis | 0.75% |
UBS AG | Investment Bank | |
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | (12.00%) |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.40% |
Recoverable amount of the impaired assets exceeds the carrying amount of the asset | $ 2,500,000,000 |
Difference between the recoverable and the carrying amount of the impaired assets equals the carrying amount of the asset with changed key assumptions | $ 0 |
Goodwill and intangible asset_3
Goodwill and intangible assets (Detail 1) | Dec. 31, 2018 | Dec. 31, 2017 |
Global Wealth Management - Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.20% | 2.40% |
Discount rates current year | 9.50% | |
Discount rates previous year | 9.00% | |
Global Wealth Management - ex Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.00% | 1.70% |
Discount rates current year | 8.50% | |
Discount rates previous year | 9.00% | |
Asset Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.70% | 2.40% |
Discount rates current year | 9.00% | |
Discount rates previous year | 9.00% | |
Investment Bank | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.50% | 2.40% |
Discount rates current year | 11.00% | |
Discount rates previous year | 11.00% | |
UBS AG | Global Wealth Management - Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.20% | 2.40% |
Discount rates current year | 9.50% | |
Discount rates previous year | 9.00% | |
UBS AG | Global Wealth Management - ex Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.00% | 1.70% |
Discount rates current year | 8.50% | |
Discount rates previous year | 9.00% | |
UBS AG | Asset Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.70% | 2.40% |
Discount rates current year | 9.00% | |
Discount rates previous year | 9.00% | |
UBS AG | Investment Bank | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 3.50% | 2.40% |
Discount rates current year | 11.00% | |
Discount rates previous year | 11.00% |
Goodwill and intangible asset_4
Goodwill and intangible assets (Detail 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | $ 6,563 | ||
Balance at the end of the year | 6,647 | $ 6,563 | |
Recoverable amount of the impaired assets | 18 | 0 | |
Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 7,888 | 7,687 | |
Additions | 270 | 105 | |
Disposals | (45) | (63) | |
Write-offs | (7) | 0 | |
Foreign currency translation | (88) | 160 | |
Balance at the end of the year | 8,018 | 7,888 | |
Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,325 | 1,245 | |
Amortization | 62 | 71 | |
Impairment | [1] | 4 | 0 |
Disposals | (1) | (16) | |
Write-offs | (7) | 0 | |
Foreign currency translation | (12) | 26 | |
Balance at the end of the year | 1,371 | 1,325 | |
Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,342 | ||
Additions | 161 | ||
Disposals | (40) | ||
Foreign currency translation | (71) | ||
Balance at the end of the year | 6,392 | 6,342 | |
Goodwill | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,342 | ||
Additions | 161 | ||
Disposals | (40) | ||
Foreign currency translation | (71) | ||
Balance at the end of the year | 6,392 | 6,342 | |
Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 221 | ||
Additions | 109 | ||
Amortization | 62 | ||
Impairment | 4 | ||
Disposals | (4) | ||
Foreign currency translation | (5) | ||
Balance at the end of the year | 254 | 221 | |
Intangible assets - Total | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,546 | ||
Additions | 109 | ||
Disposals | (5) | ||
Write-offs | (7) | ||
Foreign currency translation | (17) | ||
Balance at the end of the year | 1,625 | 1,546 | |
Intangible assets - Total | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,325 | ||
Amortization | 62 | ||
Impairment | [1] | 4 | |
Disposals | (1) | ||
Write-offs | (7) | ||
Foreign currency translation | (12) | ||
Balance at the end of the year | 1,371 | 1,325 | |
Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | [2] | 68 | |
Intangible assets - Infrastructure | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | [2] | 760 | |
Balance at the end of the year | [2] | 760 | 760 |
Intangible assets - Infrastructure | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | [2] | 653 | |
Amortization | [2] | 38 | |
Balance at the end of the year | [2] | 691 | 653 |
Intangible assets - Customer relationships, contractual rights and other | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 186 | ||
Intangible assets - Customer relationships, contractual rights and other | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 786 | ||
Additions | 109 | ||
Disposals | (5) | ||
Write-offs | (7) | ||
Foreign currency translation | (17) | ||
Balance at the end of the year | 865 | 786 | |
Intangible assets - Customer relationships, contractual rights and other | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 672 | ||
Amortization | 24 | ||
Impairment | [1] | 4 | |
Disposals | (1) | ||
Write-offs | (7) | ||
Foreign currency translation | (12) | ||
Balance at the end of the year | 679 | 672 | |
UBS AG | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,563 | ||
Balance at the end of the year | 6,647 | 6,563 | |
Recoverable amount of the impaired assets | 18 | 0 | |
UBS AG | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 7,888 | 7,687 | |
Additions | 270 | 105 | |
Disposals | (45) | (63) | |
Write-offs | (7) | 0 | |
Foreign currency translation | (88) | 160 | |
Balance at the end of the year | 8,018 | 7,888 | |
UBS AG | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,325 | 1,245 | |
Amortization | 62 | 71 | |
Impairment | [1] | 4 | 0 |
Disposals | (1) | (16) | |
Write-offs | (7) | 0 | |
Foreign currency translation | (12) | 26 | |
Balance at the end of the year | 1,371 | 1,325 | |
UBS AG | Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,342 | ||
Additions | 161 | ||
Disposals | (40) | ||
Foreign currency translation | (71) | ||
Balance at the end of the year | 6,392 | 6,342 | |
UBS AG | Goodwill | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,342 | ||
Additions | 161 | ||
Disposals | (40) | ||
Foreign currency translation | (71) | ||
Balance at the end of the year | 6,392 | 6,342 | |
UBS AG | Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 221 | ||
Additions | 109 | ||
Amortization | 62 | ||
Impairment | 4 | ||
Disposals | (4) | ||
Foreign currency translation | (5) | ||
Balance at the end of the year | 254 | 221 | |
UBS AG | Intangible assets - Total | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,546 | ||
Additions | 109 | ||
Disposals | (5) | ||
Write-offs | (7) | ||
Foreign currency translation | (17) | ||
Balance at the end of the year | 1,625 | 1,546 | |
UBS AG | Intangible assets - Total | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,325 | ||
Amortization | 62 | ||
Impairment | [1] | 4 | |
Disposals | (1) | ||
Write-offs | (7) | ||
Foreign currency translation | (12) | ||
Balance at the end of the year | 1,371 | 1,325 | |
UBS AG | Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | [2] | 68 | |
UBS AG | Intangible assets - Infrastructure | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | [2] | 760 | |
Balance at the end of the year | [2] | 760 | 760 |
UBS AG | Intangible assets - Infrastructure | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | [2] | 653 | |
Amortization | [2] | 38 | |
Balance at the end of the year | [2] | 691 | 653 |
UBS AG | Intangible assets - Customer relationships, contractual rights and other | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 186 | ||
UBS AG | Intangible assets - Customer relationships, contractual rights and other | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 786 | ||
Additions | 109 | ||
Disposals | (5) | ||
Write-offs | (7) | ||
Foreign currency translation | (17) | ||
Balance at the end of the year | 865 | 786 | |
UBS AG | Intangible assets - Customer relationships, contractual rights and other | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 672 | ||
Amortization | 24 | ||
Impairment | [1] | 4 | |
Disposals | (1) | ||
Write-offs | (7) | ||
Foreign currency translation | (12) | ||
Balance at the end of the year | $ 679 | $ 672 | |
[1] | Impairment charges recorded in 2018 and 2017 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: USD 18 million for 2018 and USD 0 million for 2017). | ||
[2] | Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc |
Goodwill and intangible asset_5
Goodwill and intangible assets (Detail 3) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | $ 6,563 |
Balance at the end of the year | 6,647 |
Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,342 |
Additions | 161 |
Disposals | (40) |
Foreign currency translation | (71) |
Balance at the end of the year | 6,392 |
Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 221 |
Additions | 109 |
Disposals | (4) |
Amortization | (62) |
Impairment | (4) |
Foreign currency translation | (5) |
Balance at the end of the year | 254 |
Global Wealth Management - Americas | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 3,742 |
Disposals | (13) |
Foreign currency translation | (8) |
Balance at the end of the year | 3,721 |
Global Wealth Management - Americas | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 164 |
Additions | 22 |
Disposals | 0 |
Amortization | (44) |
Impairment | 0 |
Foreign currency translation | (4) |
Balance at the end of the year | 138 |
Global Wealth Management - ex Americas | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,148 |
Additions | 79 |
Foreign currency translation | (21) |
Balance at the end of the year | 1,206 |
Global Wealth Management - ex Americas | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 25 |
Additions | 86 |
Amortization | (6) |
Impairment | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 104 |
Investment Bank | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 35 |
Additions | 82 |
Disposals | 0 |
Foreign currency translation | (5) |
Balance at the end of the year | 112 |
Investment Bank | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 29 |
Disposals | (4) |
Amortization | (10) |
Impairment | (3) |
Foreign currency translation | (1) |
Balance at the end of the year | 11 |
Asset Management | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,418 |
Additions | 0 |
Disposals | (27) |
Foreign currency translation | (37) |
Balance at the end of the year | 1,354 |
Asset Management | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1 |
Disposals | 0 |
Amortization | (1) |
Impairment | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 0 |
Corporate Center - Services | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 2 |
Additions | 1 |
Amortization | (2) |
Foreign currency translation | 0 |
Balance at the end of the year | 1 |
UBS AG | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,563 |
Balance at the end of the year | 6,647 |
UBS AG | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,342 |
Additions | 161 |
Disposals | (40) |
Foreign currency translation | (71) |
Balance at the end of the year | 6,392 |
UBS AG | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 221 |
Additions | 109 |
Disposals | (4) |
Amortization | (62) |
Impairment | (4) |
Foreign currency translation | (5) |
Balance at the end of the year | 254 |
UBS AG | Global Wealth Management - Americas | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 3,742 |
Disposals | (13) |
Foreign currency translation | (8) |
Balance at the end of the year | 3,721 |
UBS AG | Global Wealth Management - Americas | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 164 |
Additions | 22 |
Disposals | 0 |
Amortization | (44) |
Impairment | 0 |
Foreign currency translation | (4) |
Balance at the end of the year | 138 |
UBS AG | Global Wealth Management - ex Americas | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,148 |
Additions | 79 |
Foreign currency translation | (21) |
Balance at the end of the year | 1,206 |
UBS AG | Global Wealth Management - ex Americas | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 25 |
Additions | 86 |
Amortization | (6) |
Impairment | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 104 |
UBS AG | Investment Bank | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 35 |
Additions | 82 |
Disposals | 0 |
Foreign currency translation | (5) |
Balance at the end of the year | 112 |
UBS AG | Investment Bank | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 29 |
Disposals | (4) |
Amortization | (10) |
Impairment | (3) |
Foreign currency translation | (1) |
Balance at the end of the year | 11 |
UBS AG | Asset Management | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,418 |
Additions | 0 |
Disposals | (27) |
Foreign currency translation | (37) |
Balance at the end of the year | 1,354 |
UBS AG | Asset Management | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1 |
Disposals | 0 |
Amortization | (1) |
Impairment | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 0 |
UBS AG | Corporate Center - Services | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 2 |
Additions | 1 |
Amortization | (2) |
Foreign currency translation | 0 |
Balance at the end of the year | $ 1 |
Goodwill and intangible asset_6
Goodwill and intangible assets (Detail 4) $ in Millions | Dec. 31, 2018USD ($) |
Estimated Aggregated Amortization Expenses [Line Items] | |
2019 | $ 65 |
2020 | 52 |
2021 | 21 |
2022 | 21 |
2023 | 18 |
Thereafter | 76 |
Not amortized due to indefinite useful life | 2 |
Total | 254 |
UBS AG | |
Estimated Aggregated Amortization Expenses [Line Items] | |
2019 | 65 |
2020 | 52 |
2021 | 21 |
2022 | 21 |
2023 | 18 |
Thereafter | 76 |
Not amortized due to indefinite useful life | 2 |
Total | $ 254 |
Other financial assets measured
Other financial assets measured at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |
Disclosure Of Financial Assets [Line Item] | |||||
Prime brokerage receivables | [1] | $ 19,573 | |||
Debt securities | $ 13,562 | 9,403 | |||
of which: government bills / bonds | 8,778 | 6,632 | |||
Loans to financial advisors | [2] | 3,291 | 3,199 | ||
Fee- and commission-related receivables | 1,643 | 1,826 | |||
Finance lease receivables | 1,091 | 1,086 | |||
Settlement and clearing accounts | 1,050 | 735 | |||
Accrued interest income | 694 | 592 | |||
Other | 1,233 | 1,401 | |||
Total other financial assets measured at amortized cost | 22,563 | $ 18,775 | 37,815 | $ 27,115 | |
UBS AG | |||||
Disclosure Of Financial Assets [Line Item] | |||||
Prime brokerage receivables | [3] | 19,573 | |||
Debt securities | 13,562 | 9,403 | |||
of which: government bills / bonds | 8,778 | 6,632 | |||
Loans to financial advisors | [2] | 3,291 | 3,199 | ||
Fee- and commission-related receivables | 1,644 | 1,794 | |||
Finance lease receivables | 1,091 | 1,086 | |||
Settlement and clearing accounts | 1,039 | 734 | |||
Accrued interest income | 700 | 593 | |||
Other | 1,310 | 1,508 | |||
Total other financial assets measured at amortized cost | $ 22,637 | $ 18,850 | $ 37,890 | $ 27,130 | |
[1] | Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information | ||||
[2] | Related to financial advisors in the US and Canada. | ||||
[3] | Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information |
Other non-financial assets (Det
Other non-financial assets (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |
Other Non-Financial Assets [Line Items] | |||||
Precious metals and other physical commodities | $ 4,298 | $ 4,681 | |||
Bail deposit | [1] | 1,312 | 1,371 | ||
Prepaid expenses | 990 | 1,039 | |||
VAT and other tax receivables | 334 | 368 | |||
Properties and other non-current assets held for sale | 82 | 98 | |||
Other | 395 | 273 | |||
Total other non-financial assets | 7,410 | $ 7,830 | 7,830 | $ 12,434 | |
UBS AG | |||||
Other Non-Financial Assets [Line Items] | |||||
Precious metals and other physical commodities | 4,298 | 4,681 | |||
Bail deposit | [2] | 1,312 | 1,371 | ||
Prepaid expenses | 731 | 840 | |||
VAT and other tax receivables | 282 | 299 | |||
Properties and other non-current assets held for sale | 82 | 98 | |||
Other | 358 | 258 | |||
Total other non-financial assets | $ 7,062 | $ 7,548 | $ 7,548 | $ 12,395 | |
[1] | Refer to item 1 in Note 21b for more information. | ||||
[2] | Refer to item 1 in Note 21b for more information. |
Amounts due to banks and cust_3
Amounts due to banks and customer deposits (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 |
Deposits From Customers [Line Items] | ||||
Amounts due to banks | $ 10,962 | $ 7,728 | $ 7,728 | $ 10,459 |
Due to customers | 419,838 | 414,172 | 419,577 | 416,267 |
of which: demand deposits | 181,869 | 193,457 | ||
of which: retail savings / deposits | 165,790 | 166,013 | ||
of which: time deposits | 53,624 | 48,617 | ||
of which: fiduciary deposits | 18,556 | 11,490 | ||
Total amounts due to banks and customer deposits | 430,801 | 427,305 | ||
UBS AG | ||||
Deposits From Customers [Line Items] | ||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 |
Due to customers | 421,986 | $ 417,653 | 423,058 | $ 418,129 |
of which: demand deposits | 182,642 | 195,264 | ||
of which: retail savings / deposits | 165,790 | 166,013 | ||
of which: time deposits | 54,998 | 50,291 | ||
of which: fiduciary deposits | 18,556 | 11,490 | ||
Total amounts due to banks and customer deposits | $ 432,948 | $ 430,786 |
Funding from Group and other su
Funding from Group and other subsidiaries (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | ||
Funding From Group And Other Subsidiaries [Line Items] | ||||||
Senior unsecured debt that contributes to total loss-absorbing capacity | $ 29,988 | $ 27,937 | ||||
High-trigger loss-absorbing additional tier 1 capital instruments | 7,785 | 5,321 | ||||
Low-trigger loss-absorbing additional tier 1 capital instruments | 2,369 | 2,445 | ||||
UBS AG | ||||||
Funding From Group And Other Subsidiaries [Line Items] | ||||||
Senior unsecured debt that contributes to total loss-absorbing capacity | 29,988 | 27,937 | ||||
Senior unsecured debt other than TLAC | 1,031 | 2,736 | ||||
High-trigger loss-absorbing additional tier 1 capital instruments | 7,805 | 3,761 | ||||
Low-trigger loss-absorbing additional tier 1 capital instruments | 2,378 | 1,213 | ||||
Total | $ 41,202 | [1] | $ 35,648 | $ 35,648 | [1] | $ 24,201 |
[1] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
Debt issued designated at fai_3
Debt issued designated at fair value (Detail 1) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Issued debt instruments | |||
Equity-linked | [1] | $ 34,392 | $ 35,046 |
Rates-linked | 12,073 | 5,961 | |
Credit-linked | 3,282 | 3,013 | |
Fixed-rate | 5,099 | 4,022 | |
Other | 2,185 | 2,740 | |
Total debt issued designated at fair value | 57,031 | 50,782 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 40,289 | 38,230 |
of which: life-to-date own credit (gain) / loss | $ (270) | $ 163 | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | |
UBS AG | |||
Issued debt instruments | |||
Equity-linked | [1] | $ 34,392 | $ 35,046 |
Rates-linked | 12,073 | 5,961 | |
Credit-linked | 3,282 | 3,013 | |
Fixed-rate | 5,099 | 4,022 | |
Other | 2,185 | 2,740 | |
Total debt issued designated at fair value | 57,031 | 50,782 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 40,289 | 38,230 |
of which: life-to-date own credit (gain) / loss | $ (270) | $ 163 | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | |
[1] | Includes investment fund unit-linked instruments issued | ||
[2] | Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. More than 99% of the balance as of 31 December 2018 was unsecured (31 December 2017: more than 99% of the balance was unsecured). |
Debt issued designated at fai_4
Debt issued designated at fair value (Detail 2) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | $ 57,031 | $ 50,782 | |
UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 55,370 | 48,728 |
UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 11,807 | 9,664 |
UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 43,562 | 39,063 |
Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,662 | 2,054 |
Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,230 | 1,437 |
Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 431 | 617 |
2019 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 24,643 | ||
2019 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 23,825 | |
2019 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,904 | |
2019 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 19,921 | |
2019 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 818 | |
2019 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 805 | |
2019 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 13 | |
2020 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 6,322 | ||
2020 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,178 | |
2020 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,509 | |
2020 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,669 | |
2020 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 145 | |
2020 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 25 | |
2020 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 119 | |
2021 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,275 | ||
2021 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,126 | |
2021 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,178 | |
2021 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,947 | |
2021 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 149 | |
2021 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 66 | |
2021 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 83 | |
2022 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 2,070 | ||
2022 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,057 | |
2022 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 447 | |
2022 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,610 | |
2022 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 13 | |
2022 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7 | |
2022 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 6 | |
2023 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 3,058 | ||
2023 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,031 | |
2023 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 274 | |
2023 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,758 | |
2023 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 26 | |
2023 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
2023 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 26 | |
2024-2028 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 6,668 | ||
2024-2028 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,346 | |
2024-2028 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 802 | |
2024-2028 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,544 | |
2024-2028 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 321 | |
2024-2028 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 321 | |
2024-2028 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
Thereafter | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 8,996 | ||
Thereafter | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 8,807 | |
Thereafter | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,694 | |
Thereafter | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,113 | |
Thereafter | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 189 | |
Thereafter | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 6 | |
Thereafter | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 183 | |
UBS AG | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 57,031 | 50,782 | |
UBS AG | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 55,370 | 48,728 |
UBS AG | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 11,807 | 9,664 |
UBS AG | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 43,562 | 39,063 |
UBS AG | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,662 | 2,054 |
UBS AG | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,230 | 1,437 |
UBS AG | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 431 | $ 617 |
UBS AG | 2019 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 24,643 | ||
UBS AG | 2019 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 23,825 | |
UBS AG | 2019 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,904 | |
UBS AG | 2019 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 19,921 | |
UBS AG | 2019 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 818 | |
UBS AG | 2019 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 805 | |
UBS AG | 2019 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 13 | |
UBS AG | 2020 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 6,322 | ||
UBS AG | 2020 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,178 | |
UBS AG | 2020 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,509 | |
UBS AG | 2020 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,669 | |
UBS AG | 2020 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 145 | |
UBS AG | 2020 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 25 | |
UBS AG | 2020 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 119 | |
UBS AG | 2021 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,275 | ||
UBS AG | 2021 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,126 | |
UBS AG | 2021 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,178 | |
UBS AG | 2021 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,947 | |
UBS AG | 2021 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 149 | |
UBS AG | 2021 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 66 | |
UBS AG | 2021 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 83 | |
UBS AG | 2022 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 2,070 | ||
UBS AG | 2022 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,057 | |
UBS AG | 2022 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 447 | |
UBS AG | 2022 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,610 | |
UBS AG | 2022 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 13 | |
UBS AG | 2022 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7 | |
UBS AG | 2022 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 6 | |
UBS AG | 2023 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 3,058 | ||
UBS AG | 2023 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,031 | |
UBS AG | 2023 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 274 | |
UBS AG | 2023 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,758 | |
UBS AG | 2023 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 26 | |
UBS AG | 2023 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS AG | 2023 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 26 | |
UBS AG | 2024-2028 | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 6,668 | ||
UBS AG | 2024-2028 | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,346 | |
UBS AG | 2024-2028 | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 802 | |
UBS AG | 2024-2028 | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,544 | |
UBS AG | 2024-2028 | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 321 | |
UBS AG | 2024-2028 | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 321 | |
UBS AG | 2024-2028 | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Thereafter | UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 8,996 | ||
UBS AG | Thereafter | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 8,807 | |
UBS AG | Thereafter | UBS AG | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,694 | |
UBS AG | Thereafter | UBS AG | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,113 | |
UBS AG | Thereafter | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 189 | |
UBS AG | Thereafter | Other subsidiaries | Fixed-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 6 | |
UBS AG | Thereafter | Other subsidiaries | Floating-rate | Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | $ 183 | |
[1] | Comprises instruments issued by the legal entity UBS AG | ||
[2] | Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued measured at amort_3
Debt issued measured at amortized cost (Detail 1) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Disclosure Of Financial Liabilities [Line Items] | |||||||
Certificates of deposit | $ 7,980 | $ 24,447 | |||||
Commercial paper | 27,514 | 24,140 | |||||
Other short-term debt | 3,531 | 3,683 | |||||
Short-term debt | [1] | 39,025 | 52,270 | ||||
Senior unsecured debt other than TLAC | 33,018 | 33,102 | |||||
of which: issued by UBS AG with original maturity greater than one year | [2] | 32,133 | 33,090 | ||||
Senior unsecured debt that contributes to total loss-absorbing capacity | 29,988 | 27,937 | |||||
Covered bonds | 3,947 | 4,218 | |||||
Subordinated debt | 17,665 | 16,983 | |||||
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 7,785 | 5,321 | |||||
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,369 | 2,445 | |||||
of which: low-trigger loss-absorbing tier 2 capital instruments | 6,808 | 8,500 | |||||
of which: non-Basel III-compliant tier 2 capital instruments | 703 | 718 | |||||
Debt issued through the Swiss central mortgage institutions | 8,569 | 8,561 | |||||
Other long-term debt | 58 | 89 | |||||
of which: issued by UBS AG with original maturity greater than one year | [2] | 52 | 68 | ||||
Long-term debt | [3] | 93,246 | 90,890 | ||||
Total debt issued measured at amortized cost | $ 132,271 | [4] | $ 143,160 | $ 143,160 | [4] | $ 101,837 | |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 100.00% | |||||
UBS AG | |||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||
Certificates of deposit | $ 7,980 | $ 24,447 | |||||
Commercial paper | 27,514 | 24,140 | |||||
Other short-term debt | 3,531 | 3,683 | |||||
Short-term debt | [5] | 39,025 | 52,270 | ||||
Senior unsecured debt other than TLAC | 32,135 | 33,102 | |||||
of which: issued by UBS AG with original maturity greater than one year | [6] | 32,133 | 33,090 | ||||
Senior unsecured debt that contributes to total loss-absorbing capacity | 29,988 | 27,937 | |||||
Covered bonds | 3,947 | 4,218 | |||||
Subordinated debt | 7,511 | 9,217 | |||||
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 7,805 | 3,761 | |||||
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,378 | 1,213 | |||||
of which: low-trigger loss-absorbing tier 2 capital instruments | 6,808 | 8,500 | |||||
of which: non-Basel III-compliant tier 2 capital instruments | 703 | 718 | |||||
Debt issued through the Swiss central mortgage institutions | 8,569 | 8,561 | |||||
Other long-term debt | 58 | 89 | |||||
of which: issued by UBS AG with original maturity greater than one year | [6] | 52 | 68 | ||||
Long-term debt | [7] | 52,220 | 55,187 | ||||
Total debt issued measured at amortized cost | $ 91,245 | [4] | $ 107,458 | $ 107,458 | [4] | $ 77,617 | |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 100.00% | |||||
[1] | Debt with an original maturity of less than one year | ||||||
[2] | Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). | ||||||
[3] | Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. | ||||||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | ||||||
[5] | Debt with an original maturity of less than one year | ||||||
[6] | Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. As of 31 December 2018, 100% of the balance was unsecured (31 December 2017: 100% of the balance was unsecured). | ||||||
[7] | Debt with an original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. |
Debt issued measured at amort_4
Debt issued measured at amortized cost (Detail 2) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | $ 132,271 | $ 143,160 | ||
2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 47,502 | |||
2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 18,379 | |||
2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,994 | |||
2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 11,688 | |||
2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,015 | |||
2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 23,135 | |||
Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 12,556 | |||
UBS Group AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | 7,766 | |
UBS Group AG | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1],[2] | 7,766 | ||
UBS Group AG | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS Group AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 82,654 | 98,714 | |
UBS AG | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 7,511 | 9,217 | |
UBS AG | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 40,108 | 57,566 | |
UBS AG | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 35,035 | 31,930 | |
UBS AG | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 46,737 | ||
UBS AG | 2019 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2019 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 21,287 | ||
UBS AG | 2019 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 25,450 | ||
UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 15,879 | ||
UBS AG | 2020 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2020 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 9,397 | ||
UBS AG | 2020 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6,482 | ||
UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6,042 | ||
UBS AG | 2021 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2021 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 4,078 | ||
UBS AG | 2021 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,964 | ||
UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 4,671 | ||
UBS AG | 2022 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,945 | ||
UBS AG | 2022 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 2,726 | ||
UBS AG | 2022 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 2,005 | ||
UBS AG | 2023 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2023 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,635 | ||
UBS AG | 2023 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 369 | ||
UBS AG | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 5,566 | ||
UBS AG | 2024-2028 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 5,566 | ||
UBS AG | 2024-2028 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2024-2028 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,755 | ||
UBS AG | Thereafter | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | Thereafter | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 985 | ||
UBS AG | Thereafter | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 770 | ||
Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 49,616 | 36,681 | |
Other subsidiaries | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 10,154 | [2] | 0 |
Other subsidiaries | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 33,529 | 30,561 | |
Other subsidiaries | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 5,933 | 6,120 | |
Other subsidiaries | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 765 | ||
Other subsidiaries | 2019 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 765 | ||
Other subsidiaries | 2019 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 2,500 | ||
Other subsidiaries | 2020 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 2,200 | ||
Other subsidiaries | 2020 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 300 | ||
Other subsidiaries | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 3,953 | ||
Other subsidiaries | 2021 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 2,955 | ||
Other subsidiaries | 2021 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 998 | ||
Other subsidiaries | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 7,017 | ||
Other subsidiaries | 2022 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 4,512 | ||
Other subsidiaries | 2022 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 2,506 | ||
Other subsidiaries | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 7,011 | ||
Other subsidiaries | 2023 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2023 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 4,882 | ||
Other subsidiaries | 2023 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 2,128 | ||
Other subsidiaries | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 17,569 | ||
Other subsidiaries | 2024-2028 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | 2024-2028 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 17,569 | ||
Other subsidiaries | 2024-2028 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
Other subsidiaries | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 10,801 | ||
Other subsidiaries | Thereafter | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 10,154 | ||
Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 646 | ||
Other subsidiaries | Thereafter | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [4] | 0 | ||
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 91,245 | 107,458 | ||
UBS AG | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 47,502 | |||
UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 16,613 | |||
UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 7,057 | |||
UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 5,517 | |||
UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,942 | |||
UBS AG | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,213 | |||
UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,402 | |||
UBS AG | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 82,654 | 98,841 | |
UBS AG | UBS AG | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 7,511 | 9,217 | |
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 40,108 | 57,694 | |
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 35,035 | 31,930 | |
UBS AG | UBS AG | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 46,737 | ||
UBS AG | UBS AG | 2019 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2019 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 21,287 | ||
UBS AG | UBS AG | 2019 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 25,450 | ||
UBS AG | UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 15,879 | ||
UBS AG | UBS AG | 2020 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2020 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 9,397 | ||
UBS AG | UBS AG | 2020 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6,482 | ||
UBS AG | UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6,042 | ||
UBS AG | UBS AG | 2021 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2021 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 4,078 | ||
UBS AG | UBS AG | 2021 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,964 | ||
UBS AG | UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 4,671 | ||
UBS AG | UBS AG | 2022 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,945 | ||
UBS AG | UBS AG | 2022 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 2,726 | ||
UBS AG | UBS AG | 2022 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 2,005 | ||
UBS AG | UBS AG | 2023 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2023 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,635 | ||
UBS AG | UBS AG | 2023 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 369 | ||
UBS AG | UBS AG | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 5,566 | ||
UBS AG | UBS AG | 2024-2028 | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 5,566 | ||
UBS AG | UBS AG | 2024-2028 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | 2024-2028 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,755 | ||
UBS AG | UBS AG | Thereafter | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | UBS AG | Thereafter | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 985 | ||
UBS AG | UBS AG | Thereafter | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 770 | ||
UBS AG | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 8,591 | 8,617 | |
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 8,590 | 8,616 | |
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | $ 1 | |
UBS AG | Other subsidiaries | 2019 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 765 | ||
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 765 | ||
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 734 | ||
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 734 | ||
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,016 | ||
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,016 | ||
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 845 | ||
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 845 | ||
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 937 | ||
UBS AG | Other subsidiaries | 2023 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 937 | ||
UBS AG | Other subsidiaries | 2023 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | 2024-2028 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 3,647 | ||
UBS AG | Other subsidiaries | 2024-2028 | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 3,647 | ||
UBS AG | Other subsidiaries | 2024-2028 | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 646 | ||
UBS AG | Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 646 | ||
UBS AG | Other subsidiaries | Thereafter | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | $ 0 | ||
[1] | Comprises debt issued by the legal entity UBS Group AG | |||
[2] | Originally issued by UBS Group AG, which was replaced by UBS Group Funding (Switzerland) AG as issuer on 25 May 2018. | |||
[3] | Comprises debt issued by the legal entity UBS AG. | |||
[4] | Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. | |||
[5] | Comprises debt issued by subsidiaries of UBS AG. |
Debt issued measured at amort_5
Debt issued measured at amortized cost (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying value | $ 298 | $ 35 |
UBS AG | ||
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying value | $ 282 | $ 493 |
Provisions (Detail)
Provisions (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | |
Disclosure Of Other Provisions [Line Items] | ||||||
Provisions recognized under IAS 37 | $ 3,377 | $ 3,180 | $ 4,048 | |||
Provisions for off-balance sheet financial instruments | [1] | 79 | 34 | |||
Provisions for other credit lines | [1] | 37 | 0 | |||
Total provisions | 3,494 | $ 3,290 | 3,214 | $ 4,101 | ||
UBS AG | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Provisions recognized under IAS 37 | 3,341 | 3,130 | $ 4,043 | |||
Provisions for off-balance sheet financial instruments | [2] | 79 | 34 | |||
Provisions for other credit lines | [2] | 37 | 0 | |||
Total provisions | $ 3,457 | $ 3,240 | $ 3,164 | $ 4,097 | ||
[1] | Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. | |||||
[2] | Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 1c, 10 and 23 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. |
Provisions (Narrative) (Detail)
Provisions (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. |
Provisions recognized under IAS
Provisions recognized under IAS 37 (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | $ 3,180 | $ 4,048 | |||
Additions from acquired companies | 2 | 7 | |||
Increase in provisions recognized in the income statement | 1,155 | 1,004 | |||
Release of provisions recognized in the income statement | (311) | (347) | |||
Provisions used in conformity with designated purpose | (628) | (1,632) | |||
Capitalized reinstatement costs | 1 | 8 | |||
Foreign currency translation / unwind of discount | (21) | 94 | |||
Balance at the end of period | 3,377 | 3,180 | |||
Personnel related restructuring provisions | 50 | 85 | |||
Personnel related provisions for onerous lease contracts | 170 | 241 | |||
Real estate related reinstatement costs for leasehold improvements | 89 | 95 | |||
Real estate related provisions for onerous lease contracts | 42 | 42 | |||
Operational risks | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [1] | 44 | |||
Additions from acquired companies | [1] | 0 | |||
Increase in provisions recognized in the income statement | [1] | 27 | |||
Release of provisions recognized in the income statement | [1] | (5) | |||
Provisions used in conformity with designated purpose | [1] | (20) | |||
Capitalized reinstatement costs | [1] | 0 | |||
Foreign currency translation / unwind of discount | [1] | 0 | |||
Balance at the end of period | [1] | 46 | 44 | ||
Litigation, regulatory and similar matters | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [3] | 2,508 | [2] | 3,204 | |
Additions from acquired companies | [2] | 0 | |||
Increase in provisions recognized in the income statement | [3] | 905 | [2] | 703 | |
Release of provisions recognized in the income statement | [3] | (220) | [2] | (214) | |
Provisions used in conformity with designated purpose | [3] | (350) | [2] | (1,251) | |
Capitalized reinstatement costs | [2] | 0 | |||
Foreign currency translation / unwind of discount | [3] | (16) | [2] | 66 | |
Balance at the end of period | [2],[3] | 2,827 | 2,508 | ||
Restructuring | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 331 | ||||
Additions from acquired companies | 0 | ||||
Increase in provisions recognized in the income statement | 174 | ||||
Release of provisions recognized in the income statement | (65) | ||||
Provisions used in conformity with designated purpose | (214) | ||||
Capitalized reinstatement costs | 0 | ||||
Foreign currency translation / unwind of discount | (1) | ||||
Balance at the end of period | 224 | [4] | 331 | ||
Real estate | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 137 | ||||
Additions from acquired companies | 2 | ||||
Increase in provisions recognized in the income statement | 4 | ||||
Release of provisions recognized in the income statement | (1) | ||||
Provisions used in conformity with designated purpose | (10) | ||||
Capitalized reinstatement costs | 1 | ||||
Foreign currency translation / unwind of discount | (1) | ||||
Balance at the end of period | 131 | [5] | 137 | ||
Employee benefits | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 70 | ||||
Additions from acquired companies | [6] | 0 | |||
Increase in provisions recognized in the income statement | [6] | 10 | |||
Release of provisions recognized in the income statement | [6] | (7) | |||
Provisions used in conformity with designated purpose | [6] | 0 | |||
Capitalized reinstatement costs | [6] | 0 | |||
Foreign currency translation / unwind of discount | [6] | (2) | |||
Balance at the end of period | 70 | [6] | 70 | ||
Other | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [6] | 91 | |||
Additions from acquired companies | 0 | ||||
Increase in provisions recognized in the income statement | 35 | ||||
Release of provisions recognized in the income statement | (14) | ||||
Provisions used in conformity with designated purpose | (33) | ||||
Capitalized reinstatement costs | 0 | ||||
Foreign currency translation / unwind of discount | (1) | ||||
Balance at the end of period | 78 | 91 | [6] | ||
UBS AG | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 3,130 | 4,043 | |||
Additions from acquired companies | 2 | 7 | |||
Increase in provisions recognized in the income statement | 1,117 | 956 | |||
Release of provisions recognized in the income statement | (301) | (338) | |||
Provisions used in conformity with designated purpose | (587) | (1,598) | |||
Capitalized reinstatement costs | 0 | (4) | |||
Reclassifications | 0 | (35) | |||
Foreign currency translation / unwind of discount | (20) | 91 | |||
Balance at the end of period | 3,341 | 3,130 | |||
Personnel related restructuring provisions | 40 | 56 | |||
Personnel related provisions for onerous lease contracts | 170 | 241 | |||
Real estate related reinstatement costs for leasehold improvements | 83 | 89 | |||
Real estate related provisions for onerous lease contracts | 40 | 40 | |||
UBS AG | Operational risks | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [1] | 44 | |||
Additions from acquired companies | [1] | 0 | |||
Increase in provisions recognized in the income statement | [1] | 25 | |||
Release of provisions recognized in the income statement | [1] | (5) | |||
Provisions used in conformity with designated purpose | [1] | (20) | |||
Capitalized reinstatement costs | [1] | 0 | |||
Reclassifications | [1] | 0 | |||
Foreign currency translation / unwind of discount | [1] | 0 | |||
Balance at the end of period | [1] | 45 | 44 | ||
UBS AG | Litigation, regulatory and similar matters | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [3] | 2,508 | [2] | 3,204 | |
Additions from acquired companies | [2] | 0 | |||
Increase in provisions recognized in the income statement | [3] | 905 | [2] | 703 | |
Release of provisions recognized in the income statement | [3] | (220) | [2] | (214) | |
Provisions used in conformity with designated purpose | [3] | (350) | [2] | (1,251) | |
Capitalized reinstatement costs | [2] | 0 | |||
Reclassifications | [2] | 0 | |||
Foreign currency translation / unwind of discount | [3] | (16) | [2] | 66 | |
Balance at the end of period | [2],[3] | 2,827 | 2,508 | ||
UBS AG | Restructuring | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 302 | ||||
Additions from acquired companies | 0 | ||||
Increase in provisions recognized in the income statement | 142 | ||||
Release of provisions recognized in the income statement | (54) | ||||
Provisions used in conformity with designated purpose | (173) | ||||
Capitalized reinstatement costs | 0 | ||||
Reclassifications | 0 | ||||
Foreign currency translation / unwind of discount | (1) | ||||
Balance at the end of period | 215 | [7] | 302 | ||
UBS AG | Real estate | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 128 | ||||
Additions from acquired companies | 2 | ||||
Increase in provisions recognized in the income statement | 4 | ||||
Release of provisions recognized in the income statement | (1) | ||||
Provisions used in conformity with designated purpose | (11) | ||||
Capitalized reinstatement costs | 0 | ||||
Reclassifications | 0 | ||||
Foreign currency translation / unwind of discount | 0 | ||||
Balance at the end of period | 122 | [8] | 128 | ||
UBS AG | Employee benefits | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 57 | ||||
Additions from acquired companies | [6] | 0 | |||
Increase in provisions recognized in the income statement | [6] | 8 | |||
Release of provisions recognized in the income statement | [6] | (7) | |||
Provisions used in conformity with designated purpose | [6] | 0 | |||
Capitalized reinstatement costs | [6] | 0 | |||
Reclassifications | [6] | 0 | |||
Foreign currency translation / unwind of discount | [6] | (2) | |||
Balance at the end of period | 55 | [6] | 57 | ||
UBS AG | Other | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [6] | 91 | |||
Additions from acquired companies | 0 | ||||
Increase in provisions recognized in the income statement | 34 | ||||
Release of provisions recognized in the income statement | (14) | ||||
Provisions used in conformity with designated purpose | (33) | ||||
Capitalized reinstatement costs | 0 | ||||
Reclassifications | 0 | ||||
Foreign currency translation / unwind of discount | (1) | ||||
Balance at the end of period | $ 77 | $ 91 | [6] | ||
[1] | Comprises provisions for losses resulting from security risks and transaction processing risks | ||||
[2] | Comprises provisions for losses resulting from legal, liability and compliance risks. | ||||
[3] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. | ||||
[4] | Primarily consists of personnel-related restructuring provisions of USD 50 million as of 31 December 2018 (31 December 2017: USD 85 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). | ||||
[5] | Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2018 (31 December 2017: USD 95 million) and provisions for onerous lease contracts of USD 42 million as of 31 December 2018 (31 December 2017: USD 42 million). | ||||
[6] | Includes provisions for sabbatical and anniversary awards. | ||||
[7] | Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2018 (31 December 2017: USD 56 million) and provisions for onerous lease contracts of USD 170 million as of 31 December 2018 (31 December 2017: USD 241 million). | ||||
[8] | Consists of reinstatement costs for leasehold improvements of USD 83 million as of 31 December 2018 (31 December 2017: USD 89 million) and provisions for onerous lease contracts of USD 40 million as of 31 December 2018 (31 December 2017: USD 40 million). |
Litigation, regulatory and si_3
Litigation, regulatory and similar matters (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | $ 3,180 | $ 4,048 | ||
Increase in provisions recognized in the income statement | 1,155 | 1,004 | ||
Release of provisions recognized in the income statement | (311) | (347) | ||
Provisions used in conformity with designated purpose | (628) | (1,632) | ||
Foreign currency translation / unwind of discount | (21) | 94 | ||
Balance at the end of period | 3,377 | 3,180 | ||
Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 2,508 | [1] | 3,204 |
Increase in provisions recognized in the income statement | [2] | 905 | [1] | 703 |
Release of provisions recognized in the income statement | [2] | (220) | [1] | (214) |
Provisions used in conformity with designated purpose | [2] | (350) | [1] | (1,251) |
Foreign currency translation / unwind of discount | [2] | (16) | [1] | 66 |
Balance at the end of period | [1],[2] | 2,827 | 2,508 | |
Litigation, regulatory and similar matters | Global Wealth Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 569 | ||
Increase in provisions recognized in the income statement | [2] | 659 | ||
Release of provisions recognized in the income statement | [2] | (33) | ||
Provisions used in conformity with designated purpose | [2] | (184) | ||
Foreign currency translation / unwind of discount | [2] | (9) | ||
Balance at the end of period | [2] | 1,003 | 569 | |
Litigation, regulatory and similar matters | Personal & Corporate Banking | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 81 | ||
Increase in provisions recognized in the income statement | [2] | 41 | ||
Release of provisions recognized in the income statement | [2] | (1) | ||
Provisions used in conformity with designated purpose | [2] | (3) | ||
Foreign currency translation / unwind of discount | [2] | (1) | ||
Balance at the end of period | [2] | 117 | 81 | |
Litigation, regulatory and similar matters | Asset Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 1 | ||
Increase in provisions recognized in the income statement | [2] | 0 | ||
Release of provisions recognized in the income statement | [2] | (1) | ||
Provisions used in conformity with designated purpose | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | 0 | ||
Balance at the end of period | [2] | 0 | 1 | |
Litigation, regulatory and similar matters | Investment Bank | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 354 | ||
Increase in provisions recognized in the income statement | [2] | 83 | ||
Release of provisions recognized in the income statement | [2] | (146) | ||
Provisions used in conformity with designated purpose | [2] | (18) | ||
Foreign currency translation / unwind of discount | [2] | (3) | ||
Balance at the end of period | [2] | 269 | 354 | |
Litigation, regulatory and similar matters | Corporate Center - Services | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 246 | ||
Increase in provisions recognized in the income statement | [2] | 32 | ||
Release of provisions recognized in the income statement | [2] | (38) | ||
Provisions used in conformity with designated purpose | [2] | (1) | ||
Foreign currency translation / unwind of discount | [2] | (2) | ||
Balance at the end of period | [2] | 236 | 246 | |
Litigation, regulatory and similar matters | Corporate Center - Group ALM | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 0 | ||
Increase in provisions recognized in the income statement | [2] | 0 | ||
Release of provisions recognized in the income statement | [2] | 0 | ||
Provisions used in conformity with designated purpose | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | 0 | ||
Balance at the end of period | [2] | 0 | 0 | |
Litigation, regulatory and similar matters | Corporate Center - Non-core and Legacy Portfolio | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 1,256 | ||
Increase in provisions recognized in the income statement | [2] | 90 | ||
Release of provisions recognized in the income statement | [2] | 0 | ||
Provisions used in conformity with designated purpose | [2] | (143) | ||
Foreign currency translation / unwind of discount | [2] | (1) | ||
Balance at the end of period | [2] | 1,202 | 1,256 | |
UBS AG | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | 3,130 | 4,043 | ||
Increase in provisions recognized in the income statement | 1,117 | 956 | ||
Release of provisions recognized in the income statement | (301) | (338) | ||
Provisions used in conformity with designated purpose | (587) | (1,598) | ||
Foreign currency translation / unwind of discount | (20) | 91 | ||
Balance at the end of period | 3,341 | 3,130 | ||
UBS AG | Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 2,508 | [1] | 3,204 |
Increase in provisions recognized in the income statement | [2] | 905 | [1] | 703 |
Release of provisions recognized in the income statement | [2] | (220) | [1] | (214) |
Provisions used in conformity with designated purpose | [2] | (350) | [1] | (1,251) |
Foreign currency translation / unwind of discount | [2] | (16) | [1] | 66 |
Balance at the end of period | [1],[2] | 2,827 | 2,508 | |
UBS AG | Litigation, regulatory and similar matters | Global Wealth Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 569 | ||
Increase in provisions recognized in the income statement | [2] | 659 | ||
Release of provisions recognized in the income statement | [2] | (33) | ||
Provisions used in conformity with designated purpose | [2] | (184) | ||
Foreign currency translation / unwind of discount | [2] | (9) | ||
Balance at the end of period | [2] | 1,003 | 569 | |
UBS AG | Litigation, regulatory and similar matters | Personal & Corporate Banking | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 81 | ||
Increase in provisions recognized in the income statement | [2] | 41 | ||
Release of provisions recognized in the income statement | [2] | (1) | ||
Provisions used in conformity with designated purpose | [2] | (3) | ||
Foreign currency translation / unwind of discount | [2] | (1) | ||
Balance at the end of period | [2] | 117 | 81 | |
UBS AG | Litigation, regulatory and similar matters | Asset Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 1 | ||
Increase in provisions recognized in the income statement | [2] | 0 | ||
Release of provisions recognized in the income statement | [2] | (1) | ||
Provisions used in conformity with designated purpose | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | 0 | ||
Balance at the end of period | [2] | 0 | 1 | |
UBS AG | Litigation, regulatory and similar matters | Investment Bank | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 354 | ||
Increase in provisions recognized in the income statement | [2] | 83 | ||
Release of provisions recognized in the income statement | [2] | (146) | ||
Provisions used in conformity with designated purpose | [2] | (18) | ||
Foreign currency translation / unwind of discount | [2] | (3) | ||
Balance at the end of period | [2] | 269 | 354 | |
UBS AG | Litigation, regulatory and similar matters | Corporate Center - Services | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 246 | ||
Increase in provisions recognized in the income statement | [2] | 32 | ||
Release of provisions recognized in the income statement | [2] | (38) | ||
Provisions used in conformity with designated purpose | [2] | (1) | ||
Foreign currency translation / unwind of discount | [2] | (2) | ||
Balance at the end of period | [2] | 236 | 246 | |
UBS AG | Litigation, regulatory and similar matters | Corporate Center - Group ALM | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 0 | ||
Increase in provisions recognized in the income statement | [2] | 0 | ||
Release of provisions recognized in the income statement | [2] | 0 | ||
Provisions used in conformity with designated purpose | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | 0 | ||
Balance at the end of period | [2] | 0 | 0 | |
UBS AG | Litigation, regulatory and similar matters | Corporate Center - Non-core and Legacy Portfolio | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2] | 1,256 | ||
Increase in provisions recognized in the income statement | [2] | 90 | ||
Release of provisions recognized in the income statement | [2] | 0 | ||
Provisions used in conformity with designated purpose | [2] | (143) | ||
Foreign currency translation / unwind of discount | [2] | (1) | ||
Balance at the end of period | [2] | $ 1,202 | $ 1,256 | |
[1] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |||
[2] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3 and 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. |
Litigation, regulatory and si_4
Litigation, regulatory and similar matters (Narrative) (Detail 1) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Indication of uncertainties of amount or timing of outflows | Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group 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 Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. Developments relating to a matter that occur after the relevant reporting period, but prior to the issuance of financial statements, which affect management’s assessment of the provision for such matter (because, for example, the developments provide evidence of conditions that existed at the end of the reporting period), are adjusting events after the reporting period under IAS 10 and must be recognized in the financial statements for the reporting period. |
Explanation of reason for non-disclosure of information regarding provision | In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard; or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. |
Explanation of reason for non-disclosure of information regarding contingent liability | It is not practicable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the non-prosecution agreement described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020. A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. |
UBS AG | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Indication of uncertainties of amount or timing of outflows | Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group 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 Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. Developments relating to a matter that occur after the relevant reporting period, but prior to the issuance of financial statements, which affect management’s assessment of the provision for such matter (because, for example, the developments provide evidence of conditions that existed at the end of the reporting period), are adjusting events after the reporting period under IAS 10 and must be recognized in the financial statements for the reporting period. |
Explanation of reason for non-disclosure of information regarding provision | In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard; or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. |
Explanation of reason for non-disclosure of information regarding contingent liability | It is not practicable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the non-prosecution agreement described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020. A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. |
Litigation, regulatory and si_5
Litigation, regulatory and similar matters (Narrative) (Detail 2) € in Millions, $ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018EUR (€) | Dec. 31, 2018HKD ($) | Dec. 31, 2018USD ($) | |
Inquiries regarding cross-border wealth management businesses | Investigations in France | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Aggregated penalties and civil monetary damages in connection with money laundering charges | € | € 5,300 | ||
Fine provided in announcement of French Court | $ 3,700 | ||
Civil Damage Award announcement of French Court | 800 | ||
Provision recorded to cover pending legal case | 516 | ||
Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS AG | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Bail ("caution") ordered to be paid | € | 1,100 | ||
Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS (France) S.A. | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Bail ("caution") ordered to be paid | € | 40 | ||
Reduced bail ("caution") ordered to be paid | € | 10 | ||
Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amount sponsored by by UBS Real Estate Securities Inc. (UBS RESI) in RMBS from 2004 through 2007 | 80,000 | ||
Original principal balance of pools of US residential mortgage loans sold from 2004 through 2007 | 19,000 | ||
US residential mortgage loans originated from 2006 to 2008 | 1,500 | ||
Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages - Lawsuits related to contractual representations and warranties concerning mortgages and RMBS | Trustee Suit in the District Court for the Southern District of New York (SDNY) | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Original principal balance of loans demanded to be repurchased in a lawsuit filed in 2012 in the Southern District of New York | 2,000 | ||
Settlement made | 850 | ||
Madoff | claims filed in Luxembourg by liquidators of two Luxembourg funds against UBS entities, non-UBS entities and certain individuals | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amounts claimed | € | € 2,100 | ||
Minimum total claims against all defendants | 2,000 | ||
Puerto Rico | Customer arbitration claims | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amounts claimed | 2,900 | ||
Claimed damages that have been resolved | 1,900 | ||
Puerto Rico | Action filed on behalf of Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Minimum total claims against all defendants | 3,000 | ||
Amount of bonds issued and underwritten by the System | 800 | ||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related civil litigation | claims under the Commodity Exchange Act | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | 141 | ||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - LIBOR and other benchmark-related regulatory matters | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | 68 | ||
Investigation of UBS's role in initial public offerings in Hong Kong | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | $ 375 | $ 48 | |
Suspension from corporate finance advisory services in Hong Kong provided in settlement agreement with the SFC | 1 year | 1 year | 1 year |
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Aggregated penalties and civil monetary damages in connection with money laundering charges | € | € 5,300 | ||
Fine provided in announcement of French Court | $ 3,700 | ||
Civil Damage Award announcement of French Court | 800 | ||
Provision recorded to cover pending legal case | 516 | ||
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS AG | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Bail ("caution") ordered to be paid | € | 1,100 | ||
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS (France) S.A. | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Bail ("caution") ordered to be paid | € | 40 | ||
Reduced bail ("caution") ordered to be paid | € | 10 | ||
UBS AG | Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amount sponsored by by UBS Real Estate Securities Inc. (UBS RESI) in RMBS from 2004 through 2007 | 80,000 | ||
Original principal balance of pools of US residential mortgage loans sold from 2004 through 2007 | 19,000 | ||
US residential mortgage loans originated from 2006 to 2008 | 1,500 | ||
UBS AG | Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages - Lawsuits related to contractual representations and warranties concerning mortgages and RMBS | Trustee Suit in the District Court for the Southern District of New York (SDNY) | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Original principal balance of loans demanded to be repurchased in a lawsuit filed in 2012 in the Southern District of New York | 2,000 | ||
Settlement made | 850 | ||
UBS AG | Madoff | claims filed in Luxembourg by liquidators of two Luxembourg funds against UBS entities, non-UBS entities and certain individuals | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amounts claimed | € | € 2,100 | ||
Minimum total claims against all defendants | 2,000 | ||
UBS AG | Puerto Rico | Customer arbitration claims | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Amounts claimed | 2,900 | ||
Claimed damages that have been resolved | 1,900 | ||
UBS AG | Puerto Rico | Action filed on behalf of Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Minimum total claims against all defendants | 3,000 | ||
Amount of bonds issued and underwritten by the System | 800 | ||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related civil litigation | claims under the Commodity Exchange Act | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | 141 | ||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - LIBOR and other benchmark-related regulatory matters | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | 68 | ||
UBS AG | Investigation of UBS's role in initial public offerings in Hong Kong | |||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||
Settlement made | $ 375 | $ 48 | |
Suspension from corporate finance advisory services in Hong Kong provided in settlement agreement with the SFC | 1 year | 1 year | 1 year |
Other financial liabilities mea
Other financial liabilities measured at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |
Disclosure Of Financial Liabilities [Line Items] | ||||
Prime brokerage payables | [1] | $ 30,413 | ||
Other accrued expenses | $ 2,192 | 2,507 | ||
Accrued interest expenses | 1,544 | 1,552 | ||
Settlement and clearing accounts | 1,486 | 1,432 | ||
Other | 1,663 | 1,373 | ||
Total other financial liabilities measured at amortized cost | 6,885 | 37,276 | $ 37,729 | |
UBS AG | ||||
Disclosure Of Financial Liabilities [Line Items] | ||||
Prime brokerage payables | [1] | 30,413 | ||
Other accrued expenses | 1,911 | 2,160 | ||
Accrued interest expenses | 1,501 | 1,572 | ||
Settlement and clearing accounts | 1,477 | 1,416 | ||
Other | 2,688 | 2,532 | ||
Total other financial liabilities measured at amortized cost | $ 7,576 | $ 38,092 | $ 38,361 | |
[1] | Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 1c for more information. |
Other financial liabilities des
Other financial liabilities designated at fair value (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Disclosure Of Financial Liabilities [Line Items] | ||||||
Amounts due under unit-linked investment contracts | $ 21,679 | $ 11,821 | ||||
Securities financing transactions | [1] | 9,461 | 384 | |||
Over-the-counter debt instruments | 2,450 | 4,428 | ||||
of which: life-to-date own credit (gain) / loss | (51) | 37 | ||||
Other | 5 | 9 | ||||
Total other financial liabilities designated at fair value | 33,594 | [2] | 16,643 | [2] | $ 14,122 | |
UBS AG | ||||||
Disclosure Of Financial Liabilities [Line Items] | ||||||
Amounts due under unit-linked investment contracts | 21,679 | 11,821 | ||||
Securities financing transactions | [1] | 9,461 | 384 | |||
Over-the-counter debt instruments | 2,450 | 4,428 | ||||
of which: life-to-date own credit (gain) / loss | (51) | 37 | ||||
Other | 5 | 9 | ||||
Total other financial liabilities designated at fair value | $ 33,594 | [2] | $ 16,643 | [2] | $ 14,122 | |
[1] | Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information | |||||
[2] | As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. |
Other non-financial liabilities
Other non-financial liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 |
Other Non-Financial Liabilities [Line Items] | ||||
Compensation-related liabilities | $ 7,278 | $ 7,873 | ||
of which: accrued expenses | 2,696 | 2,740 | ||
of which: Deferred Contingent Capital Plan | 1,983 | 2,044 | ||
of which: other deferred compensation plans | 1,823 | 2,140 | ||
of which: net defined benefit pension and post-employment liabilities | 775 | 949 | ||
Current and deferred tax liabilities | 1,002 | 935 | ||
VAT and other tax payables | 431 | 426 | ||
Deferred income | 215 | 153 | ||
Other | 98 | 55 | ||
Total other non-financial liabilities | 9,022 | $ 9,443 | 9,443 | $ 14,083 |
UBS AG | ||||
Other Non-Financial Liabilities [Line Items] | ||||
Compensation-related liabilities | 4,645 | 5,036 | ||
of which: accrued expenses | 2,400 | 2,433 | ||
of which: Deferred Contingent Capital Plan | 0 | 0 | ||
of which: other deferred compensation plans | 1,473 | 1,655 | ||
of which: net defined benefit pension and post-employment liabilities | 773 | 948 | ||
Current and deferred tax liabilities | 915 | 866 | ||
VAT and other tax payables | 403 | 388 | ||
Deferred income | 215 | 153 | ||
Other | 98 | 55 | ||
Total other non-financial liabilities | $ 6,275 | $ 6,499 | $ 6,499 | $ 11,902 |
Expected credit loss measurem_5
Expected credit loss measurement - ECL selection of key macro-economic variables (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Upside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
Upside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
Upside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.00% |
Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.50% |
Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.40% |
Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.40% |
Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.70%) |
Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.00%) |
Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.50%) |
Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.61% |
Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.40% |
Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.48% |
Upside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 14.80% |
Upside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 17.00% |
Upside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 13.90% |
Upside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.50% |
Upside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.30% |
Upside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.90% |
Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.90% |
Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.50% |
Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.40% |
Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.40% |
Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.10% |
Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.10% |
Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.50%) |
Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.90%) |
Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.40%) |
Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.491% |
Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.467% |
Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.08% |
Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 38.70% |
Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 38.40% |
Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 37.10% |
Upside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 14.10% |
Upside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 30.90% |
Upside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.40% |
Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.00% |
Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.10% |
Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.60% |
Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.90% |
Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.60%) |
Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.039% |
Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.22% |
Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.197% |
Baseline ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.80% |
Baseline ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.00% |
Baseline ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
Baseline ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
Baseline ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.90% |
Baseline ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.90% |
Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.00% |
Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.70% |
Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.30% |
Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.90%) |
Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.10% |
Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.057% |
Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.607% |
Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.532% |
Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.10% |
Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.60% |
Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.40% |
Baseline ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.40% |
Baseline ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 17.70% |
Baseline ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.20% |
Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.80%) |
Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.90% |
Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.00% |
Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.875% |
Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.75% |
Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.875% |
Mild downside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (20.30%) |
Mild downside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.50%) |
Mild downside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (19.00%) |
Mild downside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (7.30%) |
Mild downside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (2.70%) |
Mild downside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.00% |
Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.70% |
Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.10%) |
Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 11.10% |
Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.20% |
Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.10% |
Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.60% |
Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.625% |
Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.25% |
Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.625% |
Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (23.50%) |
Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (14.70%) |
Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (24.00%) |
Mild downside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.80%) |
Mild downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (17.00%) |
Mild downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.00% |
Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (5.20%) |
Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (10.40%) |
Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (7.00%) |
Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.00%) |
Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.10%) |
Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.80%) |
Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.40% |
Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.20% |
Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.60%) |
Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.75%) |
Severe downside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (50.10%) |
Severe downside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (63.70%) |
Severe downside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (56.20%) |
Severe downside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.20%) |
Severe downside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (16.00%) |
Severe downside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (9.50%) |
Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (3.60%) |
Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (13.40%) |
Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.90%) |
Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.40%) |
Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.20%) |
Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.90% |
Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.70% |
Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.30% |
Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.35%) |
Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.10%) |
Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.40%) |
Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (48.20%) |
Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (65.90%) |
Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (56.70%) |
Severe downside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (27.00%) |
Severe downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (22.10%) |
Severe downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (18.30%) |
UBS AG | Upside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
UBS AG | Upside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
UBS AG | Upside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.00% |
UBS AG | Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.50% |
UBS AG | Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.40% |
UBS AG | Upside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.40% |
UBS AG | Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.70%) |
UBS AG | Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.00%) |
UBS AG | Upside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.50%) |
UBS AG | Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.61% |
UBS AG | Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.40% |
UBS AG | Upside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.48% |
UBS AG | Upside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 14.80% |
UBS AG | Upside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 17.00% |
UBS AG | Upside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 13.90% |
UBS AG | Upside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.50% |
UBS AG | Upside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.30% |
UBS AG | Upside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.90% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.90% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.50% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.40% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.40% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.10% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.10% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.50%) |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.90%) |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.40%) |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.491% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.467% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.08% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 38.70% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 38.40% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 37.10% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 14.10% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 30.90% |
UBS AG | Upside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.40% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.00% |
UBS AG | Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.10% |
UBS AG | Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.60% |
UBS AG | Baseline ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.90% |
UBS AG | Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.60%) |
UBS AG | Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
UBS AG | Baseline ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
UBS AG | Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.039% |
UBS AG | Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.22% |
UBS AG | Baseline ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.197% |
UBS AG | Baseline ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.80% |
UBS AG | Baseline ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.00% |
UBS AG | Baseline ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
UBS AG | Baseline ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
UBS AG | Baseline ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.90% |
UBS AG | Baseline ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.90% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.00% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.70% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.30% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.90%) |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.10% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.057% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.607% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.532% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.10% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 15.60% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.40% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.40% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 17.70% |
UBS AG | Baseline ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.20% |
UBS AG | Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.50%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.30%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.80%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.90% |
UBS AG | Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
UBS AG | Mild downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
UBS AG | Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
UBS AG | Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.00% |
UBS AG | Mild downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
UBS AG | Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.875% |
UBS AG | Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.75% |
UBS AG | Mild downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.875% |
UBS AG | Mild downside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (20.30%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.50%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (19.00%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (7.30%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (2.70%) |
UBS AG | Mild downside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.00% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.70% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.10%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 11.10% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.20% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.80% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.10% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.60% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.625% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.25% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.625% |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (23.50%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (14.70%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (24.00%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.80%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (17.00%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.00% |
UBS AG | Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (5.20%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (10.40%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (7.00%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.00%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.10%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.80%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.40% |
UBS AG | Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.20% |
UBS AG | Severe downside ECL scenario | Within 1 year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
UBS AG | Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.60%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.75%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (50.10%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (63.70%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (56.20%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (15.20%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (16.00%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (9.50%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (3.60%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (13.40%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Real GDP growth (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.90%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 0.60% |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.40%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.20%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.90% |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.70% |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.30% |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.35%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | EUR | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.10%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Fixed income: 10-year government bonds (bps) | CHF | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.40%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (48.20%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (65.90%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (56.70%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (27.00%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | United States S&P / Case Shiller | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (22.10%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year shock | Other real estate (% change) | Eurozone Housing Price Index | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (18.30%) |
Expected credit loss measurem_6
Expected credit loss measurement - ECL for the period (Narrative) (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 118 | $ 131 | $ 38 |
Description of the variety of factors that impact loss allowance recognition in the period | The ECL allowances and provisions recognized in the period are impacted by a variety of factors, such as: origination of new instruments during the period; effect of passage of time as the ECL on an instrument for the remaining lifetime reduces (all other factors remaining the same); credit impairment: increased ECL as default is certain and PD increases to 100%; discount unwind within ECL as it is measured on a present value basis; derecognition of instruments in the period; change in individual asset quality of instruments; portfolio effect of updating forward-looking scenarios and the respective weights; movements from a “maximum 12-month ECL” to the recognition of “lifetime ECL” (and vice versa) following transfers between the stages 1, 2 and 3 (SICR or credit-impairment status); changes in credit risk and / or economic forecasting models or updates to model parameters; foreign exchange translations for assets denominated in foreign currencies and other movements. | |||
Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 56 | 20 | 6 |
Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 38 | 92 | 11 |
Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 23 | |||
Credit-impaired positions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 95 | |||
Credit-impaired positions | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 56 | |||
Credit-impaired positions | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 29 | |||
UBS AG | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 117 | 131 | 38 |
Description of the variety of factors that impact loss allowance recognition in the period | The ECL allowances and provisions recognized in the period are impacted by a variety of factors, such as: origination of new instruments during the period; effect of passage of time as the ECL on an instrument for the remaining lifetime reduces (all other factors remaining the same); credit impairment: increased ECL as default is certain and PD increases to 100%; discount unwind within ECL as it is measured on a present value basis; derecognition of instruments in the period; change in individual asset quality of instruments; portfolio effect of updating forward-looking scenarios and the respective weights; movements from a “maximum 12-month ECL” to the recognition of “lifetime ECL” (and vice versa) following transfers between the stages 1, 2 and 3 (SICR or credit-impairment status); changes in credit risk and / or economic forecasting models or updates to model parameters; foreign exchange translations for assets denominated in foreign currencies and other movements. | |||
UBS AG | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 56 | 20 | 6 |
UBS AG | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 38 | $ 92 | $ 11 |
UBS AG | Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 23 | |||
UBS AG | Credit-impaired positions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 95 | |||
UBS AG | Credit-impaired positions | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 56 | |||
UBS AG | Credit-impaired positions | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | $ 29 | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes |
Expected credit loss measurem_7
Expected credit loss measurement - ECL for the period (Narrative) (Detail 2) | Jan. 01, 2018 | Dec. 31, 2018 |
Disclosure Of Provision Matrix [Line Items] | ||
Number of alternative scenarios developed for ECL calculation | 4 | 4 |
Upside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 20.00% | 10.00% |
Baseline ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 42.50% | 45.00% |
Mild downside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 30.00% | 35.00% |
Severe downside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 7.50% | 10.00% |
UBS AG | ||
Disclosure Of Provision Matrix [Line Items] | ||
Number of alternative scenarios developed for ECL calculation | 4 | 4 |
UBS AG | Upside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 20.00% | 10.00% |
UBS AG | Baseline ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 42.50% | 45.00% |
UBS AG | Mild downside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 30.00% | 35.00% |
UBS AG | Severe downside ECL scenario | ||
Disclosure Of Provision Matrix [Line Items] | ||
Assigned weights | 7.50% | 10.00% |
Expected credit loss measurem_8
Expected credit loss measurement - Development of allowance for credit losses (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 01, 2018 | ||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | $ (1,002) | $ (1,117) | |
ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 0 | |
ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (104) | |
Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | (10) | |
Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (10) | ||
Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (89) | ||
Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (16) | |
Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (11) | ||
Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 5 | ||
Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | (73) | |
Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (9) | ||
Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 8 | ||
Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (56) | ||
Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (55) | ||
Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (13) | |
Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 227 | ||
Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 200 | |
Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 25 | |
Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 8 | |
Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (162) | (141) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | (97) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | 66 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | (44) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (8) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (14) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 112 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | 95 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 54 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 24 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 7 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | 17 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (2) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 9 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (2) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 10 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 1 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 7 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (180) | (193) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 95 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (83) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | 15 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 5 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (87) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (103) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (63) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (19) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (7) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | 16 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 12 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 6 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (11) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 3 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (661) | (783) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 2 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (88) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | 19 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 8 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (114) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (7) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | (106) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (7) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (8) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (48) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (70) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 216 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 199 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 15 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 8 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
UBS AG | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (1,002) | (1,117) | |
UBS AG | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 0 | |
UBS AG | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (104) | |
UBS AG | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | (10) | |
UBS AG | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
UBS AG | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
UBS AG | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
UBS AG | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (10) | ||
UBS AG | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (89) | ||
UBS AG | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (16) | |
UBS AG | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (11) | ||
UBS AG | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 5 | ||
UBS AG | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
UBS AG | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
UBS AG | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | (73) | |
UBS AG | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (9) | ||
UBS AG | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 8 | ||
UBS AG | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (56) | ||
UBS AG | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (55) | ||
UBS AG | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (13) | |
UBS AG | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 227 | ||
UBS AG | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 200 | |
UBS AG | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 25 | |
UBS AG | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 8 | |
UBS AG | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (162) | (141) | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | (97) | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | 66 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | (44) | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (8) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (14) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 112 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | 95 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 54 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 24 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 7 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | 17 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (2) | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 9 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (2) | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 10 | ||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 1 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 7 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 0 | |
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 2 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (180) | (193) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 95 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (83) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | 15 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 5 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 4 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (87) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (103) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (63) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (19) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (7) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | 16 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (3) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 12 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (6) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 6 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | (11) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 0 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 3 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 0 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Balance | (661) | $ (783) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ECL movement due to Stage transfer (profit or loss neutral) | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [1] | 2 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ECL movement with profit or loss impact | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [2] | (88) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [3] | 19 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 8 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Net movement from new and derecognized transactions | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Book quality movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (114) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [4] | (7) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (1) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 1 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements due to stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 0 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [5] | (106) | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Private clients with mortgages | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (7) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Real estate financing | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (8) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | Large corporate clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (48) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Remeasurements without stage transfers | SME clients | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | (70) | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Model and methodology changes | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [6] | 0 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other allowance and provision movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | 216 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Write offs / recoveries | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [7] | 199 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Reclassifications | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [8] | 15 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Foreign exchange movements | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | [9] | 8 | |
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other | |||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | |||
Development of ECL allowances and provisions | $ (6) | ||
[1] | Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer | ||
[2] | Includes ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. | ||
[3] | Represents the increase and decrease in allowances and provisions resulting from financial instruments (including guarantees and facilities) that were newly originated, purchased or renewed and from the final derecognition of loans or facilities on their maturity date or earlier. | ||
[4] | Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. | ||
[5] | Represents the change in allowances and provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure profile, PD and LGD changes, and unwinding of the time value. | ||
[6] | Represents the change in the allowances and provisions related to changes in models and methodologies. | ||
[7] | Represents the decrease in allowances and provisions resulting from write-offs of the ECL allowance against the gross carrying amount when all or part of a financial asset is deemed uncollectible or forgiven. | ||
[8] | Represents reclassifications to Other assets measured at amortized cost. | ||
[9] | Represents the change in allowances and provisions related to movements in foreign exchange rates. |
Expected credit loss measurem_9
Expected credit loss measurement - Maximum exposure to credit risk (Detail) - Financial Assets At Amortised Cost [Member] - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total maximum exposure to credit risk reflected on the balance sheet | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | $ 593.8 | $ 592.8 | |
Collateral | |||
Cash collateral received | 17.2 | 16.6 | |
Collateralized by securities | 197.4 | 221.6 | |
Secured by real estate | 167.2 | 164.3 | |
Other collateral | [1] | 19.9 | 20.7 |
Credit enhancements | |||
Netting | 14.5 | 12.8 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1.2 | 1.4 | |
Exposure to credit risk after collateral and credit enhancements | 176.5 | 155.6 | |
Total financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 587.1 | 584.7 | |
Collateral | |||
Cash collateral received | 17.2 | 16.6 | |
Collateralized by securities | 197.4 | 221.6 | |
Secured by real estate | 167.2 | 164.3 | |
Other collateral | [1] | 19.9 | 20.7 |
Credit enhancements | |||
Netting | 14.5 | 12.8 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1.2 | 1.4 | |
Exposure to credit risk after collateral and credit enhancements | 169.8 | 147.4 | |
Cash and balances at central banks | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 108.4 | 90 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 108.4 | 90 | |
Loans and advances to banks | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [2] | 16.9 | 14.1 |
Collateral | |||
Collateralized by securities | [2] | 0.1 | 0.1 |
Credit enhancements | |||
Guarantees | 0 | ||
Exposure to credit risk after collateral and credit enhancements | [2] | 16.8 | 14 |
Receivables from securities financing transactions | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 95.3 | 92 | |
Collateral | |||
Collateralized by securities | 92.5 | 87.2 | |
Other collateral | [1] | 2.5 | 4.3 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.3 | 0.4 | |
Cash collateral receivables on derivative instruments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23.6 | 24 |
Credit enhancements | |||
Netting | [3],[4] | 14.5 | 12.8 |
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 9.1 | 11.3 |
Loans and advances to customers | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [5] | 320.4 | 326.7 |
Collateral | |||
Cash collateral received | [5] | 17 | 16.5 |
Collateralized by securities | [5] | 104.4 | 114.3 |
Secured by real estate | [5] | 167.1 | 164.3 |
Other collateral | [1],[5] | 16.2 | 15.2 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | 0 |
Guarantees | [5] | 1.2 | 1.4 |
Exposure to credit risk after collateral and credit enhancements | [5] | 14.3 | 15.1 |
Other financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 22.6 | 37.8 | |
Collateral | |||
Cash collateral received | 0.1 | 0.1 | |
Collateralized by securities | 0.4 | 20 | |
Secured by real estate | 0 | ||
Other collateral | [1] | 1.1 | 1.1 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 20.9 | 16.7 | |
Financial assets measured at fair value through other comprehensive income - debt | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 6.7 | 8.1 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6.7 | 8.1 | |
Total maximum exposure to credit risk not reflected on the balance sheet | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 86.8 | 62.8 | |
Collateral | |||
Cash collateral received | 2.8 | 1.1 | |
Collateralized by securities | 12.7 | 17.8 | |
Secured by real estate | 5.8 | 1.2 | |
Other collateral | [1] | 10.8 | 7.1 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 0.2 | 0.1 | |
Guarantees | 3.4 | 4.3 | |
Exposure to credit risk after collateral and credit enhancements | 51 | 31.2 | |
Guarantees | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 18.1 | 17.7 |
Collateral | |||
Cash collateral received | [6] | 1.3 | 1 |
Collateralized by securities | [6] | 2.5 | 2.1 |
Secured by real estate | [6] | 0.1 | 0.2 |
Other collateral | [1],[6] | 1.2 | 1.3 |
Credit enhancements | |||
Credit derivative contracts | [6] | 0 | |
Guarantees | [6] | 2.7 | 3.1 |
Exposure to credit risk after collateral and credit enhancements | [6] | 10.2 | 9.9 |
Loan commitments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 31.2 | 32.1 |
Collateral | |||
Cash collateral received | [6] | 0.4 | 0 |
Collateralized by securities | [6] | 2.8 | 2.9 |
Secured by real estate | [6] | 1.5 | 1.1 |
Other collateral | [1],[6] | 5.7 | 5.8 |
Credit enhancements | |||
Credit derivative contracts | [6] | 0.2 | 0.1 |
Guarantees | [6] | 0.7 | 1.2 |
Exposure to credit risk after collateral and credit enhancements | [6] | 19.8 | 21 |
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 0.9 | 13 | |
Collateral | |||
Collateralized by securities | 0.9 | 12.8 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0 | 0.3 | |
Committed unconditionally revocable credit lines | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 36.6 | ||
Collateral | |||
Cash collateral received | 1.1 | ||
Collateralized by securities | 6.5 | ||
Secured by real estate | 4.2 | ||
Other collateral | [1] | 3.9 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 21 | ||
UBS AG | Total maximum exposure to credit risk reflected on the balance sheet | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 594.8 | 595.1 | |
Collateral | |||
Cash collateral received | 17.8 | 18.4 | |
Collateralized by securities | 197.4 | 221.6 | |
Secured by real estate | 167.2 | 164.3 | |
Other collateral | [1] | 19.9 | 20.7 |
Credit enhancements | |||
Netting | 14.5 | 12.8 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1.2 | 1.4 | |
Exposure to credit risk after collateral and credit enhancements | 176.9 | 155.9 | |
UBS AG | Total financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 588.1 | 586.9 | |
Collateral | |||
Cash collateral received | 17.8 | 18.4 | |
Collateralized by securities | 197.4 | 221.6 | |
Secured by real estate | 167.2 | 164.3 | |
Other collateral | [1] | 19.9 | 20.7 |
Credit enhancements | |||
Netting | 14.5 | 12.8 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1.2 | 1.4 | |
Exposure to credit risk after collateral and credit enhancements | 170.2 | 147.8 | |
UBS AG | Cash and balances at central banks | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 108.4 | 90 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 108.4 | 90 | |
UBS AG | Loans and advances to banks | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [2] | 16.6 | 14 |
Collateral | |||
Cash collateral received | 0 | ||
Collateralized by securities | [2] | 0.1 | 0.1 |
Credit enhancements | |||
Guarantees | [2] | 0 | |
Exposure to credit risk after collateral and credit enhancements | [2] | 16.6 | 13.9 |
UBS AG | Receivables from securities financing transactions | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 95.3 | 92 | |
Collateral | |||
Collateralized by securities | 92.5 | 87.2 | |
Other collateral | [1] | 2.5 | 4.3 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.3 | 0.4 | |
UBS AG | Cash collateral receivables on derivative instruments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23.6 | 24 |
Credit enhancements | |||
Netting | [3],[4] | 14.5 | 12.8 |
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 9.1 | 11.3 |
UBS AG | Loans and advances to customers | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [5] | 321.5 | 329 |
Collateral | |||
Cash collateral received | [5] | 17.7 | 18.3 |
Collateralized by securities | [5] | 104.4 | 114.3 |
Secured by real estate | [5] | 167.1 | 164.3 |
Other collateral | [1],[5] | 16.2 | 15.2 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | 0 |
Guarantees | [5] | 1.2 | 1.4 |
Exposure to credit risk after collateral and credit enhancements | [5] | 14.8 | 15.5 |
UBS AG | Other financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 22.6 | 37.9 | |
Collateral | |||
Cash collateral received | 0.1 | 0.1 | |
Collateralized by securities | 0.4 | 20 | |
Secured by real estate | 0 | 0 | |
Other collateral | [1] | 1.1 | 1.1 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 21 | 16.7 | |
UBS AG | Financial assets measured at fair value through other comprehensive income - debt | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 6.7 | 8.1 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6.7 | 8.1 | |
UBS AG | Total maximum exposure to credit risk not reflected on the balance sheet | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 89 | 62.8 | |
Collateral | |||
Cash collateral received | 2.8 | 1.1 | |
Collateralized by securities | 12.7 | 17.8 | |
Secured by real estate | 5.8 | 1.2 | |
Other collateral | [1] | 10.8 | 7.1 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 0.2 | 0.1 | |
Guarantees | 3.4 | 4.3 | |
Exposure to credit risk after collateral and credit enhancements | 53.2 | 31.2 | |
UBS AG | Guarantees | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 18.1 | 17.7 |
Collateral | |||
Cash collateral received | [6] | 1.3 | 1 |
Collateralized by securities | [6] | 2.5 | 2.1 |
Secured by real estate | [6] | 0.1 | 0.2 |
Other collateral | [1],[6] | 1.2 | 1.3 |
Credit enhancements | |||
Guarantees | [6] | 2.7 | 3.1 |
Exposure to credit risk after collateral and credit enhancements | [6] | 10.2 | 9.9 |
UBS AG | Loan commitments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 31.2 | 32.1 |
Collateral | |||
Cash collateral received | [6] | 0.4 | 0 |
Collateralized by securities | [6] | 2.8 | 2.9 |
Secured by real estate | [6] | 1.5 | 1.1 |
Other collateral | [1],[6] | 5.7 | 5.8 |
Credit enhancements | |||
Credit derivative contracts | [6] | 0.2 | 0.1 |
Guarantees | [6] | 0.7 | 1.2 |
Exposure to credit risk after collateral and credit enhancements | [6] | 19.8 | 21 |
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 0.9 | 13 | |
Collateral | |||
Collateralized by securities | 0.9 | 12.8 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0 | $ 0.3 | |
UBS AG | Committed unconditionally revocable credit lines | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 38.8 | ||
Collateral | |||
Cash collateral received | 1.1 | ||
Collateralized by securities | 6.5 | ||
Secured by real estate | 4.2 | ||
Other collateral | [1] | 3.9 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | $ 23.2 | ||
[1] | Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights | ||
[2] | Loans and advances to banks include amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. | ||
[3] | Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. | ||
[4] | The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. | ||
[5] | Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. | ||
[6] | The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
Expected credit loss measure_10
Expected credit loss measurement - Financial assets subject to credit risk by rating category (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | $ 593,770 | $ 559,208 | ||||
Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 587,104 | 552,277 | ||||
Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 16,868 | 14,074 | ||||
Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 23,602 | 24,040 | ||||
Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 320,352 | 318,480 | ||||
Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 22,563 | 18,775 | ||||
Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 6,667 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 570,763 | 528,619 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 564,096 | 521,689 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 16,666 | 14,055 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 23,602 | 24,040 | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 298,248 | 288,420 | [1] | ||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 21,862 | 18,265 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,582 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,582 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 202 | 19 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,357 | 28,531 | ||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 223 | 33 | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | $ 432 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,006 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,006 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,529 | [1],[2] | 432 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
Gross carrying amount | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 594,706 | 592,800 | |||||
Gross carrying amount | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 588,039 | 584,700 | |||||
Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,875 | 14,100 | |||||
Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 95,350 | 92,000 | |||||
Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 23,601 | 24,000 | |||||
Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 321,124 | 326,700 | |||||
Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 22,718 | 37,800 | |||||
Gross carrying amount | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 6,667 | 592,800 | |||||
Gross carrying amount | Rating category 0-1 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 159,605 | 141,400 | |||||
Gross carrying amount | Rating category 0-1 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 155,716 | 134,400 | |||||
Gross carrying amount | Rating category 0-1 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 103,635 | 89,600 | |||||
Gross carrying amount | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 829 | 600 | |||||
Gross carrying amount | Rating category 0-1 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 29,065 | 24,900 | |||||
Gross carrying amount | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,136 | 6,600 | |||||
Gross carrying amount | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,642 | 3,200 | |||||
Gross carrying amount | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,409 | 9,400 | |||||
Gross carrying amount | Rating category 0-1 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,889 | 7,000 | |||||
Gross carrying amount | Rating category 2-3 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 229,012 | 226,600 | |||||
Gross carrying amount | Rating category 2-3 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 226,310 | 225,600 | |||||
Gross carrying amount | Rating category 2-3 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,735 | 500 | |||||
Gross carrying amount | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,462 | 10,800 | |||||
Gross carrying amount | Rating category 2-3 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 24,653 | 37,300 | |||||
Gross carrying amount | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 10,042 | 10,000 | |||||
Gross carrying amount | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 172,742 | 165,900 | |||||
Gross carrying amount | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 676 | 1,100 | |||||
Gross carrying amount | Rating category 2-3 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,702 | 1,000 | |||||
Gross carrying amount | Rating category 4-5 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 73,110 | 100,100 | |||||
Gross carrying amount | Rating category 4-5 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 73,110 | 100,100 | |||||
Gross carrying amount | Rating category 4-5 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Gross carrying amount | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,347 | 1,400 | |||||
Gross carrying amount | Rating category 4-5 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,602 | 17,200 | |||||
Gross carrying amount | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,282 | 5,700 | |||||
Gross carrying amount | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 52,566 | 66,900 | |||||
Gross carrying amount | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 313 | 8,900 | |||||
Gross carrying amount | Rating category 4-5 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category 6-8 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 112,231 | 101,600 | |||||
Gross carrying amount | Rating category 6-8 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 112,155 | 101,500 | |||||
Gross carrying amount | Rating category 6-8 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 927 | 900 | |||||
Gross carrying amount | Rating category 6-8 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 26,865 | 10,700 | |||||
Gross carrying amount | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,040 | 1,600 | |||||
Gross carrying amount | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 73,863 | 71,300 | |||||
Gross carrying amount | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 7,460 | 17,100 | |||||
Gross carrying amount | Rating category 6-8 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 76 | 100 | |||||
Gross carrying amount | Rating category 9-13 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 17,861 | 21,100 | |||||
Gross carrying amount | Rating category 9-13 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 17,861 | 21,100 | |||||
Gross carrying amount | Rating category 9-13 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 307 | 300 | |||||
Gross carrying amount | Rating category 9-13 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,165 | 1,800 | |||||
Gross carrying amount | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 101 | 100 | |||||
Gross carrying amount | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,014 | 17,900 | |||||
Gross carrying amount | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 274 | 1,000 | |||||
Gross carrying amount | Rating category 9-13 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category Defaulted | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,886 | 1,900 | |||||
Gross carrying amount | Rating category Defaulted | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,886 | 1,900 | |||||
Gross carrying amount | Rating category Defaulted | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
Gross carrying amount | Rating category Defaulted | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category Defaulted | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | 1,500 | |||||
Gross carrying amount | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | 300 | |||||
Gross carrying amount | Rating category Defaulted | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 8,100 | |||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 108,370 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,669 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 95,350 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 23,601 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 298,316 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 21,905 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 103,635 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 829 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 29,065 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,136 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,621 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,409 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,735 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,462 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 24,653 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 10,042 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 172,002 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 676 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,347 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,602 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,282 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 49,277 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 313 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 763 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 26,865 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,040 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 62,305 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 7,235 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 268 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,165 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 101 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 11,111 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 272 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 203 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 20,510 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 227 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 20 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 740 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,289 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 164 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 11,558 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 225 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 39 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,903 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | ||||||
Allowance for expected credit loss | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
Allowance for expected credit loss | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
Allowance for expected credit loss | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
Allowance for expected credit loss | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (4) | (3) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (69) | (62) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (43) | (30) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (155) | (167) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (4) | (1) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (660) | (772) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (549) | (661) | (672) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (109) | (108) | |||||
UBS AG | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 594,750 | 561,442 | ||||
UBS AG | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 588,084 | 554,512 | ||||
UBS AG | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
UBS AG | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 16,642 | 14,027 | ||||
UBS AG | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
UBS AG | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 23,603 | 24,040 | ||||
UBS AG | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 321,482 | 320,687 | [1] | ||||
UBS AG | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 22,637 | 18,850 | ||||
UBS AG | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 6,667 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 571,743 | 530,808 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 565,076 | 523,878 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 16,440 | 14,007 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 23,603 | 24,040 | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 299,378 | 290,582 | [1] | ||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 21,936 | 18,339 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,628 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,782 | 28,628 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 202 | 18 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 20,357 | 28,575 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 223 | 33 | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 432 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,007 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,007 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,530 | [1],[2] | 432 | ||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
UBS AG | Gross carrying amount | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 595,687 | 592,800 | |||||
UBS AG | Gross carrying amount | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 589,020 | 584,700 | |||||
UBS AG | Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,649 | 14,100 | |||||
UBS AG | Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 95,351 | 92,000 | |||||
UBS AG | Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 23,603 | 24,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 322,255 | 326,700 | |||||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 22,792 | 37,800 | |||||
UBS AG | Gross carrying amount | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 6,667 | 7,000 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 159,604 | 141,400 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 155,715 | 134,400 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 103,635 | 89,600 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 829 | 600 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 29,065 | 24,900 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,136 | 6,600 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,641 | 3,200 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,409 | 9,400 | |||||
UBS AG | Gross carrying amount | Rating category 0-1 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,889 | 1,000 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 229,556 | 226,600 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 226,854 | 225,600 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,735 | 500 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,286 | 10,800 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 24,653 | 37,300 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 10,044 | 10,000 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 173,454 | 165,900 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 682 | 1,100 | |||||
UBS AG | Gross carrying amount | Rating category 2-3 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,702 | ||||||
UBS AG | Gross carrying amount | Rating category 4-5 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 73,308 | 100,100 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 73,308 | 100,100 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,302 | 1,400 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,602 | 17,200 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,282 | 5,700 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 52,806 | 66,900 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 316 | 8,900 | |||||
UBS AG | Gross carrying amount | Rating category 4-5 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 100 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 112,471 | 101,600 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 112,395 | 101,500 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 922 | 900 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 26,866 | 10,700 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,040 | 1,600 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 74,042 | 71,300 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 7,525 | 17,100 | |||||
UBS AG | Gross carrying amount | Rating category 6-8 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 76 | ||||||
UBS AG | Gross carrying amount | Rating category 9-13 | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 17,861 | 21,100 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 17,861 | 21,100 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 307 | 300 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,165 | 1,800 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 101 | 100 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,014 | 17,900 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 274 | 1,000 | |||||
UBS AG | Gross carrying amount | Rating category 9-13 | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category Defaulted | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,886 | 1,900 | |||||
UBS AG | Gross carrying amount | Rating category Defaulted | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,886 | 1,900 | |||||
UBS AG | Gross carrying amount | Rating category Defaulted | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
UBS AG | Gross carrying amount | Rating category Defaulted | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category Defaulted | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | 1,500 | |||||
UBS AG | Gross carrying amount | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | 300 | |||||
UBS AG | Gross carrying amount | Rating category Defaulted | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 108,370 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 16,443 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 95,351 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 23,603 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 299,448 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 21,979 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 103,635 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 829 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 29,065 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,136 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,621 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,409 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,735 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,286 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 24,653 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 10,044 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 172,714 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 682 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,302 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 13,602 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 5,282 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 49,517 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 316 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 758 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 26,866 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,040 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 62,484 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 7,300 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 268 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 1,165 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 101 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 11,111 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 272 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 203 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 20,510 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 227 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 20 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 740 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3,289 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 164 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 11,558 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 225 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 39 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 4,903 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 3 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 2,297 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 586 | ||||||
UBS AG | Allowance for expected credit loss | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
UBS AG | Allowance for expected credit loss | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
UBS AG | Allowance for expected credit loss | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
UBS AG | Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
UBS AG | Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
UBS AG | Allowance for expected credit loss | Financial assets measured at FVOCI - debt instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (176) | (148) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (117) | (97) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (4) | (3) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (69) | (62) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (43) | (30) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (183) | (193) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (159) | (168) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (155) | (167) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (4) | (1) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on balance sheet financial instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (660) | (772) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | (549) | (661) | $ (672) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Internal Credit Exposures [Line Items] | |||||||
Financial assets | $ (109) | $ (108) | |||||
[1] | The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||||||
[2] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. | ||||||
[3] | December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. | ||||||
[4] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9 |
Expected credit loss measure_11
Expected credit loss measurement - Off balance sheet positions subject to expected credit loss by rating category (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | $ 90,268 | $ 89,809 | |||||
Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 50,295 | $ 62,800 | |||||
Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,146 | 17,596 | 17,700 | ||||
Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 31,212 | 31,650 | 32,100 | ||||
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 937 | 1,247 | 13,000 | ||||
Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 39,972 | ||||||
Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 36,634 | 37,639 | |||||
Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,339 | 1,677 | |||||
Rating category 0-1 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,092 | 3,200 | |||||
Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 979 | 1,200 | |||||
Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,088 | 2,000 | |||||
Rating category 0-1 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 25 | ||||||
Rating category 0-1 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 803 | ||||||
Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 776 | ||||||
Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27 | ||||||
Rating category 2-3 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,850 | 34,900 | |||||
Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,673 | 8,500 | |||||
Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,667 | 13,500 | |||||
Rating category 2-3 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 510 | 13,000 | |||||
Rating category 2-3 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,245 | ||||||
Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10,899 | ||||||
Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,346 | ||||||
Rating category 4-5 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10,528 | 12,000 | |||||
Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,859 | 4,200 | |||||
Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,519 | 7,800 | |||||
Rating category 4-5 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 150 | ||||||
Rating category 4-5 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,171 | ||||||
Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,282 | ||||||
Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 889 | ||||||
Rating category 6-8 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,145 | 8,100 | |||||
Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,415 | 2,800 | |||||
Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,479 | 5,200 | |||||
Rating category 6-8 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 251 | ||||||
Rating category 6-8 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,401 | ||||||
Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,499 | ||||||
Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 902 | ||||||
Rating category 9-13 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,410 | 4,400 | |||||
Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,006 | 800 | |||||
Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,404 | 3,600 | |||||
Rating category 9-13 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Rating category 9-13 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8,238 | ||||||
Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8,084 | ||||||
Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 154 | ||||||
Rating category Defaulted | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 270 | 200 | |||||
Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | 200 | |||||
Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 55 | ||||||
Rating category Defaulted | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Rating category Defaulted | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 114 | ||||||
Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 21 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 86,830 | 85,972 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17,321 | 16,753 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 30,590 | 30,933 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 937 | 1,247 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 35,121 | 35,362 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,861 | 1,676 | |||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 978 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,088 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 768 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,670 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,667 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10,871 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,315 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,849 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,519 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,152 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 680 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,012 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,296 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10,727 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 701 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 811 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,019 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 7,603 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 137 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1 | ||||||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,055 | 3,541 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 611 | 649 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 568 | 679 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,420 | 2,213 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 456 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 28 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 31 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 130 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 209 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 402 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 183 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 772 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 200 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 195 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 385 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 481 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 432 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 383 | 295 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | 194 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | 38 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | 64 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | 1 | [1] | ||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 21 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | [2] | 1,308 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | [3] | 383 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | ||||||
Allowance for expected credit loss | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1,054) | (1,146) | |||||
Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (116) | (110) | |||||
Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (43) | (38) | |||||
Allowance for expected credit loss | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (37) | (37) | |||||
Allowance for expected credit loss | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (36) | (35) | |||||
Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1) | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (176) | (148) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (59) | (50) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (7) | (6) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (32) | (25) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (19) | (19) | |||||
Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (183) | (193) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (23) | (25) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (2) | (2) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (5) | (8) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (16) | (15) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (695) | (806) | (706) | [2] | |||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (34) | [3] | (34) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (34) | (30) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 92,486 | 89,809 | |||||
UBS AG | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 50,296 | 62,800 | |||||
UBS AG | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,146 | 17,596 | 17,700 | ||||
UBS AG | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 31,212 | 31,650 | 32,100 | ||||
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 937 | 1,247 | 13,000 | ||||
UBS AG | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 42,190 | ||||||
UBS AG | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 38,851 | 37,639 | |||||
UBS AG | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,339 | 1,677 | |||||
UBS AG | Rating category 0-1 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,091 | 3,200 | |||||
UBS AG | Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 978 | 1,200 | |||||
UBS AG | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,088 | 2,000 | |||||
UBS AG | Rating category 0-1 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 25 | ||||||
UBS AG | Rating category 0-1 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 803 | ||||||
UBS AG | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 776 | ||||||
UBS AG | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27 | ||||||
UBS AG | Rating category 2-3 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,850 | 34,900 | |||||
UBS AG | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,673 | 8,500 | |||||
UBS AG | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,667 | 13,500 | |||||
UBS AG | Rating category 2-3 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 510 | 13,000 | |||||
UBS AG | Rating category 2-3 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 13,772 | ||||||
UBS AG | Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,426 | ||||||
UBS AG | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,346 | ||||||
UBS AG | Rating category 4-5 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10,528 | 12,000 | |||||
UBS AG | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,859 | 4,200 | |||||
UBS AG | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,519 | 7,800 | |||||
UBS AG | Rating category 4-5 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 150 | ||||||
UBS AG | Rating category 4-5 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,221 | ||||||
UBS AG | Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,332 | ||||||
UBS AG | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 889 | ||||||
UBS AG | Rating category 6-8 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,148 | 8,100 | |||||
UBS AG | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,415 | 2,800 | |||||
UBS AG | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,480 | 5,200 | |||||
UBS AG | Rating category 6-8 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 254 | ||||||
UBS AG | Rating category 6-8 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 13,041 | ||||||
UBS AG | Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,140 | ||||||
UBS AG | Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 901 | ||||||
UBS AG | Rating category 9-13 | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,411 | 4,400 | |||||
UBS AG | Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,006 | 800 | |||||
UBS AG | Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,405 | 3,600 | |||||
UBS AG | Rating category 9-13 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Rating category 9-13 | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8,238 | ||||||
UBS AG | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8,084 | ||||||
UBS AG | Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 154 | ||||||
UBS AG | Rating category Defaulted | Off Balance Sheet Financial Instruments Without Other Credit Lines [Member] | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 268 | 200 | |||||
UBS AG | Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | 200 | |||||
UBS AG | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | ||||||
UBS AG | Rating category Defaulted | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Rating category Defaulted | Total other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 115 | ||||||
UBS AG | Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
UBS AG | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 89,048 | 89,809 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17,321 | 17,596 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 30,590 | 31,650 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 937 | 1,247 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 37,338 | 37,639 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,861 | 1,677 | |||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 978 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,088 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 768 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,670 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,667 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 12,398 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,315 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,849 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,519 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,202 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 680 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5,013 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,297 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 11,367 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 701 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 811 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,020 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 7,603 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 137 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,055 | 3,541 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 611 | 649 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 568 | 679 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,420 | 2,213 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 456 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 8 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 28 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 31 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 10 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 130 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 209 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 402 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 183 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 773 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 6-8 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 200 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 195 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 385 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 481 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category 9-13 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 432 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 383 | 295 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | 194 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | 38 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | 64 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | 1 | [1] | ||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 0-1 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 2-3 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 4-5 | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 6-8 | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category 9-13 | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Rating category Defaulted | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | [2] | 1,308 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | [3] | 383 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 215 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 53 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 93 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | ||||||
UBS AG | Allowance for expected credit loss | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1,054) | (1,146) | |||||
UBS AG | Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (116) | (110) | |||||
UBS AG | Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (43) | (38) | |||||
UBS AG | Allowance for expected credit loss | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (37) | (37) | |||||
UBS AG | Allowance for expected credit loss | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (36) | (35) | |||||
UBS AG | Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (176) | (148) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (59) | (50) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (7) | (6) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (32) | (25) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (19) | (19) | |||||
UBS AG | Allowance for expected credit loss | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (183) | (193) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (23) | (25) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (5) | (8) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (16) | (15) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (695) | (806) | $ (706) | [2] | |||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (34) | [3] | (34) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | (34) | (30) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||||||
Financial Assets | $ 0 | $ 0 | |||||
[1] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. | ||||||
[2] | December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. | ||||||
[3] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9 |
Expected credit loss measure_12
Expected credit loss measurement - Credit impaired financial instruments at amortized cost (Narrative) (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Foreclosed Property [Line Items] | ||
Foreclosed Assets | $ 60 | $ 61 |
UBS AG | ||
Disclosure Of Foreclosed Property [Line Items] | ||
Foreclosed Assets | $ 60 | $ 61 |
Expected credit loss measure_13
Expected credit loss measurement - Credit impaired financial instruments at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | $ 587,104 | $ 552,277 | ||||
Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 16,868 | 14,074 | ||||
Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 23,602 | 24,040 | ||||
Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 320,352 | 318,480 | ||||
Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 126,335 | 122,652 | ||||
Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 36,474 | 36,824 | ||||
Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 11,390 | 11,289 | ||||
Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 9,924 | 10,589 | ||||
Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 111,722 | 114,638 | ||||
Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 22,563 | 18,775 | ||||
Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 90,268 | 89,809 | |||||
Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 18,146 | 17,596 | $ 17,700 | ||||
Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,862 | ||||||
Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,298 | ||||||
Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 31,212 | 31,650 | 32,100 | ||||
Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22,019 | 22,568 | |||||
Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 36,634 | 37,639 | |||||
Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,562 | 3,184 | |||||
Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,260 | ||||||
Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,505 | 4,893 | |||||
Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,339 | 1,677 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 432 | ||||||
Collateral / credit enhancements | 418 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,006 | [2] | |||
Collateral / credit enhancements | 1,666 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Collateral / credit enhancements | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,529 | [1],[2] | 432 | ||
Collateral / credit enhancements | 1,654 | 210 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 796 | 704 | ||||
Collateral / credit enhancements | 796 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 38 | 29 | ||||
Collateral / credit enhancements | 30 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 88 | 90 | ||||
Collateral / credit enhancements | 79 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 632 | 601 | ||||
Collateral / credit enhancements | 561 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 14 | 17 | ||||
Collateral / credit enhancements | 14 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
Collateral / credit enhancements | 12 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 383 | 295 | [2] | ||||
Collateral / credit enhancements | 102 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | 194 | [2] | ||||
Collateral / credit enhancements | 84 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
Collateral / credit enhancements | 79 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
Collateral / credit enhancements | 5 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | 38 | [2] | ||||
Collateral / credit enhancements | 8 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7 | 26 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | 64 | [2] | ||||
Collateral / credit enhancements | 9 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | 0 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 57 | 54 | |||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | 1 | [2] | ||||
Collateral / credit enhancements | 0 | ||||||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Collateral / credit enhancements | 5 | ||||||
Gross carrying amount | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 588,039 | 584,700 | |||||
Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 16,875 | 14,100 | |||||
Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 95,350 | 92,000 | |||||
Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 23,601 | 24,000 | |||||
Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 321,124 | 326,700 | |||||
Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 22,718 | 37,800 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 3 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 836 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 54 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 170 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 888 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 31 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 586 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | [4] | 383 | |||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | ||||||
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 204 | ||||||
Allowance for expected credit loss | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
Allowance for expected credit loss | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (138) | (128) | |||||
Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (59) | (64) | |||||
Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (95) | (71) | |||||
Allowance for expected credit loss | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (281) | (295) | |||||
Allowance for expected credit loss | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (21) | (86) | |||||
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (116) | (110) | |||||
Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (43) | (38) | |||||
Allowance for expected credit loss | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (8) | ||||||
Allowance for expected credit loss | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (26) | ||||||
Allowance for expected credit loss | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (37) | (37) | |||||
Allowance for expected credit loss | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (31) | (28) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (36) | (35) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (17) | (10) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (2) | ||||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (7) | (7) | |||||
Allowance for expected credit loss | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (549) | (661) | (672) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (39) | (45) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (16) | (6) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (82) | (65) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (256) | (262) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (17) | (81) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (109) | (108) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (34) | [4] | (34) | ||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (34) | (30) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (6) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (25) | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (34) | ||||||
UBS AG | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 588,084 | 554,512 | ||||
UBS AG | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 108,370 | 90,045 | ||||
UBS AG | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 16,642 | 14,027 | ||||
UBS AG | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 95,349 | 86,864 | ||||
UBS AG | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 23,603 | 24,040 | ||||
UBS AG | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 321,482 | 320,687 | [1] | ||||
UBS AG | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 126,335 | 122,652 | [1] | ||||
UBS AG | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 36,474 | 36,824 | [1] | ||||
UBS AG | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 11,390 | 11,289 | [1] | ||||
UBS AG | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 9,924 | 10,589 | [1] | ||||
UBS AG | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 111,722 | 113,461 | [1] | ||||
UBS AG | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 22,637 | 18,850 | ||||
UBS AG | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 92,486 | 89,809 | |||||
UBS AG | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 18,146 | 17,596 | 17,700 | ||||
UBS AG | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,862 | ||||||
UBS AG | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 1,298 | ||||||
UBS AG | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 834 | ||||||
UBS AG | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 31,212 | 31,650 | 32,100 | ||||
UBS AG | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22,019 | 22,568 | |||||
UBS AG | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 38,851 | 37,639 | |||||
UBS AG | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 2,562 | 3,183 | |||||
UBS AG | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,260 | ||||||
UBS AG | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 4,505 | 4,893 | |||||
UBS AG | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7,402 | ||||||
UBS AG | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 3,339 | 1,677 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 432 | ||||||
Collateral / credit enhancements | 418 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 2,226 | 2,007 | [2] | |||
Collateral / credit enhancements | 1,666 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
Collateral / credit enhancements | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 0 | 0 | [2] | |||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 1,748 | [1] | 1,530 | [1],[2] | 432 | ||
Collateral / credit enhancements | 1,654 | 210 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 796 | 704 | ||||
Collateral / credit enhancements | 796 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 38 | 30 | ||||
Collateral / credit enhancements | 30 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 88 | 90 | ||||
Collateral / credit enhancements | 79 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 632 | 600 | ||||
Collateral / credit enhancements | 561 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 14 | 17 | ||||
Collateral / credit enhancements | 14 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [1] | 478 | 477 | [2] | |||
Collateral / credit enhancements | 12 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 383 | 295 | [2] | ||||
Collateral / credit enhancements | 102 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | 194 | [2] | ||||
Collateral / credit enhancements | 84 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
Collateral / credit enhancements | 79 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
Collateral / credit enhancements | 5 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | 38 | [2] | ||||
Collateral / credit enhancements | 8 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 7 | 27 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | 64 | [2] | ||||
Collateral / credit enhancements | 9 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 11 | 0 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 17 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 57 | 54 | |||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | 1 | [2] | ||||
Collateral / credit enhancements | 0 | ||||||
UBS AG | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Collateral / credit enhancements | 5 | ||||||
UBS AG | Gross carrying amount | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 589,020 | 584,700 | |||||
UBS AG | Gross carrying amount | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 108,370 | 90,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 16,649 | 14,100 | |||||
UBS AG | Gross carrying amount | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 95,351 | 92,000 | |||||
UBS AG | Gross carrying amount | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 23,603 | 24,000 | |||||
UBS AG | Gross carrying amount | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 322,255 | 326,700 | |||||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 22,792 | 37,800 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [3] | 1,308 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | [4] | 2,886 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 3 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 2,297 | 1,104 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 836 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 54 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 170 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 888 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 31 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 586 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | [4] | 383 | |||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 215 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 127 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 77 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 53 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 93 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 22 | ||||||
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Provisions for off-balance sheet financial instruments | 204 | ||||||
UBS AG | Allowance for expected credit loss | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (1,054) | (1,146) | |||||
UBS AG | Allowance for expected credit loss | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (937) | (1,037) | |||||
UBS AG | Allowance for expected credit loss | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (7) | (5) | |||||
UBS AG | Allowance for expected credit loss | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (2) | (2) | |||||
UBS AG | Allowance for expected credit loss | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (772) | (890) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (138) | (128) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (59) | (64) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (95) | (71) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (281) | (295) | |||||
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (21) | (86) | |||||
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (155) | (139) | |||||
UBS AG | Allowance for expected credit loss | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (116) | (110) | |||||
UBS AG | Allowance for expected credit loss | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (43) | (38) | |||||
UBS AG | Allowance for expected credit loss | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (8) | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (26) | ||||||
UBS AG | Allowance for expected credit loss | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (37) | (37) | |||||
UBS AG | Allowance for expected credit loss | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (31) | (28) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (36) | (35) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (17) | (10) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (2) | ||||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (7) | (7) | |||||
UBS AG | Allowance for expected credit loss | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (1) | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (695) | (806) | (706) | [3] | |||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total credit-impaired financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (660) | [4] | (772) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (3) | (3) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (549) | (661) | (672) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (39) | (45) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (16) | (6) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (82) | (65) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (256) | (262) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (17) | (81) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (109) | (108) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (34) | [4] | (34) | ||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (34) | (30) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (6) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | (25) | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | (4) | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | 0 | ||||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | $ 0 | $ 0 | |||||
UBS AG | Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees and loan commitments | |||||||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||||||
Financial assets | $ (34) | ||||||
[1] | The carrying value of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||||||
[2] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9. | ||||||
[3] | December 2017 numbers do not include exposure of USD 0.3 billion presented on the balance sheet as other assets. | ||||||
[4] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit-impaired exposures for which no loss has occurred or no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 1c for more information on the adoption of IFRS 9 |
Expected credit loss measure_14
Expected credit loss measurement - Sensitivity analysis (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | [1] | $ 118 | $ 131 | $ 38 |
Weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 359 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 152.00% | |||
Weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 102 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 275.00% | |||
Weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 61 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 150.00% | |||
Weighted average | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 47 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 133.00% | |||
Weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 34 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 118.00% | |||
Weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 115 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 122.00% | |||
Baseline ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 237 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Baseline ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 37 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Baseline ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 41 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Baseline ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 35 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Baseline ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 29 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Baseline ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 95 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
Upside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 204 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 86.00% | |||
Upside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 29 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 78.00% | |||
Upside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 32 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 79.00% | |||
Upside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 31 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 89.00% | |||
Upside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 28 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 97.00% | |||
Upside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 83 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 88.00% | |||
Mild downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 473 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 200.00% | |||
Mild downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 173 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 468.00% | |||
Mild downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 80 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 198.00% | |||
Mild downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 46 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 130.00% | |||
Mild downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 39 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 135.00% | |||
Mild downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 135 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 142.00% | |||
Severe downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 826 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 349.00% | |||
Severe downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 365 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 988.00% | |||
Severe downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 119 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 293.00% | |||
Severe downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 108 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 308.00% | |||
Severe downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 63 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 216.00% | |||
Severe downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 171 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 180.00% | |||
UBS AG | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | [1] | $ 117 | $ 131 | $ 38 |
UBS AG | Weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 359 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 152.00% | |||
UBS AG | Weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 102 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 275.00% | |||
UBS AG | Weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 61 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 150.00% | |||
UBS AG | Weighted average | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 47 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 133.00% | |||
UBS AG | Weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 34 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 118.00% | |||
UBS AG | Weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 115 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 122.00% | |||
UBS AG | Baseline ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 237 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Baseline ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 37 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Baseline ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 41 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Baseline ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 35 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Baseline ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 29 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Baseline ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 95 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 100.00% | |||
UBS AG | Upside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 204 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 86.00% | |||
UBS AG | Upside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 29 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 78.00% | |||
UBS AG | Upside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 32 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 79.00% | |||
UBS AG | Upside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 31 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 89.00% | |||
UBS AG | Upside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 28 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 97.00% | |||
UBS AG | Upside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 83 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 88.00% | |||
UBS AG | Mild downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 473 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 200.00% | |||
UBS AG | Mild downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 173 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 468.00% | |||
UBS AG | Mild downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 80 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 198.00% | |||
UBS AG | Mild downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 46 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 130.00% | |||
UBS AG | Mild downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 39 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 135.00% | |||
UBS AG | Mild downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 135 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 142.00% | |||
UBS AG | Severe downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 826 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 349.00% | |||
UBS AG | Severe downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 365 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 988.00% | |||
UBS AG | Severe downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 119 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 293.00% | |||
UBS AG | Severe downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 108 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 308.00% | |||
UBS AG | Severe downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 63 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 216.00% | |||
UBS AG | Severe downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 171 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 180.00% | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes |
Expected credit loss measure_15
Expected credit loss measurement - Sensitivity analysis (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
ECL Measurement Sensitivity Analysis [Line Items] | |
Period used for economic forecast | 3 years |
UBS AG | |
ECL Measurement Sensitivity Analysis [Line Items] | |
Period used for economic forecast | 3 years |
FVM - Fair value hierarchy - As
FVM - Fair value hierarchy - Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | $ 341,156 | $ 324,818 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 104,370 | 129,407 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 11,161 | 13,186 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,768 | 8,785 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,566 | 3,946 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 9,716 | 9,881 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 392 | 377 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 72,768 | 81,623 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 11,609 | |
Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 126,210 | 121,285 |
Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 37,076 | 45,188 |
Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,920 | 2,889 |
Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 53,489 | 48,363 |
Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 31,404 | 22,807 |
Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,769 | 1,772 |
Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 16,840 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 82,690 | 60,457 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 22,493 | 26,633 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 17,236 | 22,022 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 8,132 | 10,405 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 9,937 | 298 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 1,664 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 710 | 597 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 702 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 21,446 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 369 | 501 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 6,667 | 8,889 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,239 | 2,940 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 497 | 1,220 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,931 | 3,980 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 749 |
Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 4,298 | 4,681 |
Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 82 | 98 |
Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 131,280 | 143,636 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 88,452 | 111,780 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 9,554 | 12,244 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 558 | 38 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,074 | 7,409 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 72,266 | 81,324 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 10,764 | |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 753 | 470 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 1 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 311 | 212 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3 | 16 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 35,458 | 23,628 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 17,687 | 22,632 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 781 | 785 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 173 | 210 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 123 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 16,694 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 2,319 | 3,078 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,171 | 2,804 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 149 | 124 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 150 |
Level 1 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 4,298 | 4,681 |
Level 1 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 0 | 0 |
Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 202,077 | 175,550 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 13,956 | 15,604 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,607 | 941 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 5,559 | 8,180 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,886 | 3,433 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,200 | 1,886 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 248 | 199 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 455 | 190 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 774 | |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 124,033 | 119,227 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 36,658 | 45,049 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,444 | 2,325 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 53,148 | 47,957 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 30,905 | 22,099 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,768 | 1,772 |
Level 2 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 16,840 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 42,819 | 35,373 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 4,806 | 4,000 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 16,455 | 21,237 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,380 | 9,627 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 9,899 | 121 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 428 | 387 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 62 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 4,751 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 38 | 0 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 4,347 | 5,291 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 69 | 136 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 348 | 1,087 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,931 | 3,980 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 88 |
Level 2 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 0 | 0 |
Level 2 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 82 | 55 |
Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 7,800 | 5,631 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,962 | 2,023 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 651 | 566 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 680 | 513 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 442 | 586 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 144 | 178 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 46 | 108 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 71 | |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,424 | 1,589 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 418 | 138 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 476 | 564 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 30 | 194 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 496 | 693 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2 | 0 |
Level 3 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 4,413 | 1,456 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,752 | 778 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 39 | 177 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 1,664 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 109 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 517 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 0 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 331 | 501 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 0 | 521 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 9 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 512 |
Level 3 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 0 | 43 |
UBS AG | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 340,999 | 324,535 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 104,513 | 129,509 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 11,161 | 13,186 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,908 | 8,886 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,566 | 3,946 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 9,716 | 9,881 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 392 | 377 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 72,771 | 81,624 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 11,609 | |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 126,212 | 121,286 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 37,076 | 45,188 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,920 | 2,889 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 53,492 | 48,364 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 31,404 | 22,807 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,769 | 1,772 |
UBS AG | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 16,840 | |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 82,387 | 60,070 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 22,493 | 26,633 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 17,236 | 22,022 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 8,132 | 10,405 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 9,937 | 298 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 1,664 | |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 407 | 210 |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 702 | |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 21,446 | |
UBS AG | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 369 | 501 |
UBS AG | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 6,667 | 8,889 |
UBS AG | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,239 | 2,940 |
UBS AG | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 497 | 1,220 |
UBS AG | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,931 | 3,980 |
UBS AG | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 749 |
UBS AG | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 4,298 | 4,681 |
UBS AG | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 82 | 98 |
UBS AG | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 131,283 | 143,638 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 88,455 | 111,781 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 9,554 | 12,244 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 558 | 38 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,074 | 7,409 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 72,270 | 81,326 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 10,764 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 753 | 470 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 1 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 311 | 212 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3 | 16 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 35,458 | 23,628 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 17,687 | 22,632 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 781 | 785 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 173 | 210 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 123 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 16,694 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 2,319 | 3,078 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,171 | 2,804 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 149 | 124 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 150 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 4,298 | 4,681 |
UBS AG | Level 1 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 0 | 0 |
UBS AG | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 201,916 | 175,266 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 14,096 | 15,705 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,607 | 941 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 5,699 | 8,281 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2,886 | 3,433 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,200 | 1,886 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 248 | 199 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 455 | 190 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 774 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 124,035 | 119,228 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 36,658 | 45,049 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,444 | 2,325 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 53,151 | 47,958 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 30,905 | 22,099 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,768 | 1,772 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 16,840 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 42,516 | 34,986 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 4,806 | 4,000 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 16,455 | 21,237 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 6,380 | 9,627 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 9,899 | 121 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 125 | 0 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 62 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 4,751 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 38 | 0 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 4,347 | 5,291 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 69 | 136 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 348 | 1,087 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 3,931 | 3,980 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 88 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 2 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | 82 | 55 |
UBS AG | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 7,800 | 5,631 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,962 | 2,023 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 651 | 566 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 680 | 513 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 442 | 586 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 144 | 178 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 46 | 108 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 71 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,424 | 1,589 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 418 | 138 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 476 | 564 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 30 | 194 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 496 | 693 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 2 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Brokerage receivables | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 0 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 4,413 | 1,456 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 1,752 | 778 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[5] | 39 | 177 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[3] | 1,664 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 109 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 517 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Financial assets for unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[2] | 0 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 331 | 501 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[4] | 0 | 521 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 9 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Financial assets, at fair value | [1],[6] | 0 | 512 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a non-recurring basis | Other non-financial assets | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||
Other non-financial assets, at fair value | [1],[7] | $ 0 | $ 43 |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||
[2] | Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||
[3] | Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||
[4] | As of 31 December 2018, USD 23 billion of Financial assets at fair value not held for trading and USD 6 billion of Financial assets measured at fair value through other comprehensive income are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 24 billion of Financial assets at fair value not held for trading and USD 7 billion of Financial assets measured at fair value through other comprehensive income were expected to be recovered or settled after 12 months. | ||
[5] | The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||
[6] | Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. | ||
[7] | Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
FVM - Fair value hierarchy - Li
FVM - Fair value hierarchy - Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | $ 283,711 | $ 217,813 |
Financial assets at fair value not held for trading expected to be recovered or settled after 12 months | 23,000 | 24,000 | |
Financial assets measured at fair value through other comprehensive income expected to be recovered or settled after 12 months | 6,000 | 7,000 | |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 28,943 | 31,251 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,839 | 5,549 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 3,530 | 3,629 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 689 | 841 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,886 | 21,230 |
Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 125,723 | 119,137 |
Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,743 | 39,380 |
Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,722 | 3,895 |
Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 53,372 | 46,662 |
Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 35,041 | 27,433 |
Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,487 | 1,602 |
Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 38,420 | |
Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 57,031 | 50,782 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 33,594 | 16,643 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,679 | 11,821 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 9,461 | 385 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,450 | 4,427 |
Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
Level 1 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 24,986 | 27,119 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 24,406 | 26,710 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,423 | 5,286 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 126 | 51 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 551 | 555 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,306 | 20,817 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 580 | 409 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 7 | 5 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 322 | 218 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1 | 43 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 0 | |
Level 1 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 1 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 2 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 244,465 | 174,538 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 4,468 | 4,421 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 416 | 263 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 3,377 | 3,542 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 137 | 269 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 537 | 345 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 122,933 | 115,849 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,511 | 39,184 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,203 | 3,278 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 52,964 | 46,318 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 33,669 | 25,445 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,487 | 1,601 |
Level 2 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 38,420 | |
Level 2 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 46,074 | 39,616 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,569 | 14,651 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,679 | 11,821 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 9,461 | 382 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,427 | 2,447 |
Level 2 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
Level 3 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 14,260 | 16,157 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 69 | 120 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 27 | 36 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 16 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 42 | 68 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,210 | 2,879 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 226 | 191 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 519 | 617 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 86 | 125 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,371 | 1,945 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
Level 3 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 0 | |
Level 3 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 10,957 | 11,166 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,025 | 1,991 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 0 | 4 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,023 | 1,980 |
Level 3 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 283,717 | 217,814 |
Financial assets at fair value not held for trading expected to be recovered or settled after 12 months | 23,000 | 24,000 | |
Financial assets measured at fair value through other comprehensive income expected to be recovered or settled after 12 months | 6,000 | 7,000 | |
UBS AG | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 28,949 | 31,251 |
UBS AG | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,839 | 5,549 |
UBS AG | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 3,530 | 3,629 |
UBS AG | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 689 | 841 |
UBS AG | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,892 | 21,230 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 125,723 | 119,138 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,743 | 39,380 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,722 | 3,895 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 53,372 | 46,663 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 35,041 | 27,433 |
UBS AG | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,487 | 1,602 |
UBS AG | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 38,420 | |
UBS AG | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 57,031 | 50,782 |
UBS AG | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 33,594 | 16,643 |
UBS AG | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,679 | 11,821 |
UBS AG | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 9,461 | 385 |
UBS AG | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,450 | 4,427 |
UBS AG | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
UBS AG | Level 1 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 24,992 | 27,119 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 24,413 | 26,710 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,423 | 5,286 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 126 | 51 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 551 | 555 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,313 | 20,817 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 580 | 409 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 7 | 5 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 322 | 218 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1 | 43 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 0 | |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 1 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 2 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 244,465 | 174,539 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 4,468 | 4,421 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 416 | 263 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 3,377 | 3,542 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 137 | 269 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 537 | 345 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 122,933 | 115,850 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,511 | 39,184 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,203 | 3,278 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 52,964 | 46,319 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 33,669 | 25,445 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,487 | 1,601 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 38,420 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 46,074 | 39,616 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 32,569 | 14,651 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 21,679 | 11,821 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 9,461 | 382 |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,427 | 2,447 |
UBS AG | Level 2 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
UBS AG | Level 3 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 14,260 | 16,157 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 69 | 120 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 27 | 36 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 16 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 42 | 68 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 2,210 | 2,879 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 226 | 191 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 519 | 617 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 86 | 125 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,371 | 1,945 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 1 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[2] | 0 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 10,957 | 11,166 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,025 | 1,991 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 0 | 0 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Securities financing transactions | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1],[3] | 0 | 4 |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Over-the-counter debt instruments | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | 1,023 | 1,980 |
UBS AG | Level 3 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||
Financial liabilities, at fair value | [1] | $ 0 | $ 0 |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||
[2] | Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||
[3] | The increases in Securities financing transactions primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
FVM - Valuation adjustments_ De
FVM - Valuation adjustments: Deferred day-1 P&L (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Deferred Day-1 Profit Or Loss [Line Items] | |||
Reserve balance at the beginning of the year | $ 338 | $ 365 | $ 420 |
Profit / (loss) deferred on new transactions | 341 | 247 | 257 |
(Profit) / loss recognized in the income statement | (417) | (279) | (293) |
(Profit) / loss recognized in other comprehensive income | (23) | ||
Foreign currency translation | (6) | 6 | 4 |
Reserve balance at the end of the year | 255 | 338 | 365 |
UBS AG | |||
Deferred Day-1 Profit Or Loss [Line Items] | |||
Reserve balance at the beginning of the year | 338 | 365 | 420 |
Profit / (loss) deferred on new transactions | 341 | 247 | 257 |
(Profit) / loss recognized in the income statement | (417) | (279) | (293) |
(Profit) / loss recognized in other comprehensive income | (23) | ||
Foreign currency translation | (6) | 6 | 4 |
Reserve balance at the end of the year | $ 255 | $ 338 | $ 365 |
FVM - Valuation adjustments_ _2
FVM - Valuation adjustments: Deferred day-1 P&L (Narrative) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Deferred Day-1 Profit Or Loss [Line Items] | |
Unrealized gain / (loss) on own credit | $ 253 |
Model valuation adjustments for spread between own credit adjustments and LIBOR volatility | (65) |
(Profit) / loss recognized in the income statement, Debt issued designated at fair value | 196 |
UBS AG | |
Deferred Day-1 Profit Or Loss [Line Items] | |
Unrealized gain / (loss) on own credit | 253 |
Model valuation adjustments for spread between own credit adjustments and LIBOR volatility | (65) |
(Profit) / loss recognized in the income statement, Debt issued designated at fair value | $ 196 |
FVM - Transfers between Level 1
FVM - Transfers between Level 1 and Level 2 (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | $ 0.6 |
Description Of Reasons For Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | Assets totaling approximately USD 0.6 billion, which were mainly comprised of financial assets held for trading, predominantly investment fund units as well as corporate and municipal bonds, were transferred from Level 2 to Level 1 during 2018, generally resulting from increased levels of trading activity observed within the market. Transfers of financial liabilities from Level 2 to Level 1 during 2018 were not significant. |
Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | $ 0.7 |
Description Of Reasons For Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | Assets totaling approximately USD 0.7 billion, which were mainly comprised of financial assets held for trading, predominantly investment fund units and equity instruments, were transferred from Level 1 to Level 2 during 2018, generally resulting from diminished levels of trading activity observed within the market. Transfers of financial liabilities from Level 1 to Level 2 during 2018 were not significant. |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | $ 0.6 |
Description Of Reasons For Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | Assets totaling approximately USD 0.6 billion, which were mainly comprised of financial assets held for trading, predominantly investment fund units as well as corporate and municipal bonds, were transferred from Level 2 to Level 1 during 2018, generally resulting from increased levels of trading activity observed within the market. Transfers of financial liabilities from Level 2 to Level 1 during 2018 were not significant. |
Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | $ 0.7 |
Description Of Reasons For Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | Assets totaling approximately USD 0.7 billion, which were mainly comprised of financial assets held for trading, predominantly investment fund units and equity instruments, were transferred from Level 1 to Level 2 during 2018, generally resulting from diminished levels of trading activity observed within the market. Transfers of financial liabilities from Level 1 to Level 2 during 2018 were not significant. |
FVM - Valuation adjustments_ Ow
FVM - Valuation adjustments: Own credit adjustments on financial liabilities designated at fair value (Detail) - Included in Other comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Recognized during the year: | |||
Realized gain / (loss) | $ (3) | $ 22 | $ 18 |
Unrealized gain / (loss) | 519 | (337) | (152) |
Total gain / (loss), before tax | 517 | (315) | (134) |
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | 320 | (200) | 139 |
UBS AG | |||
Recognized during the year: | |||
Realized gain / (loss) | (3) | 22 | 18 |
Unrealized gain / (loss) | 519 | (337) | (152) |
Total gain / (loss), before tax | 517 | (315) | (134) |
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | $ 320 | $ (200) | $ 139 |
FVM - Valuation adjustments_ Va
FVM - Valuation adjustments: Valuation adjustments on financial instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | $ (90) | $ (116) |
Funding valuation adjustments | (85) | (51) | |
Debit valuation adjustments | 1 | 2 | |
Other valuation adjustments | (716) | (733) | |
of which: liquidity | (388) | (477) | |
of which: model uncertainty | (327) | (256) | |
UBS AG | |||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | (90) | (116) |
Funding valuation adjustments | (85) | (51) | |
Debit valuation adjustments | 1 | 2 | |
Other valuation adjustments | (716) | (733) | |
of which: liquidity | (388) | (477) | |
of which: model uncertainty | $ (327) | $ (256) | |
[1] | Amounts do not include reserves against defaulted counterparties. |
FVM - Level 3 instruments_ Valu
FVM - Level 3 instruments: Valuation techniques and inputs (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | $ 341,156 | $ 324,818 |
Financial liabilities, at fair value | [1] | 283,711 | 217,813 |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | 700 | 600 |
Financial liabilities, at fair value | [2] | $ 0 | $ 0 |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 0.00% | 0.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 134.00% | 133.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3],[4] | 89.00% | 92.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | $ 2,700 | $ 1,700 |
Financial liabilities, at fair value | [2] | $ 0 | $ 0 |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3] | 0.00% | 50.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3] | 100.00% | 102.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3],[4] | 99.00% | 98.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Credit spread | [2],[3] | 3.01% | 0.23% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Credit spread | [2],[3] | 5.13% | 1.24% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 1.00% | 0.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 14.00% | 14.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3],[4] | 2.00% | 2.00% |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2],[5] | $ 1,700 | |
Financial liabilities, at fair value | [2],[5] | $ 0 | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 79.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 99.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3],[4] | 89.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Investment fund units | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2],[6] | $ 600 | $ 700 |
Financial liabilities, at fair value | [2],[6] | 0 | 0 |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Equity instruments | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2],[6] | 600 | 500 |
Financial liabilities, at fair value | [2],[6] | 0 | 100 |
Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [7] | 11,000 | 11,200 |
Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [7] | 1,000 | 2,000 |
Derivative financial instruments: Interest rate contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 400 | 100 | |
Financial liabilities, at fair value | $ 200 | $ 200 | |
Derivative financial instruments: Interest rate contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [3],[8] | 0.50% | 0.28% |
Derivative financial instruments: Interest rate contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [3],[8] | 0.81% | 0.70% |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 500 | $ 600 | |
Financial liabilities, at fair value | $ 500 | $ 600 | |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [3] | 3.00% | 2.00% |
Credit spread | [3] | 0.04% | 0.06% |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [3] | 99.00% | 102.00% |
Credit spread | [3] | 5.45% | 5.50% |
Derivative financial instruments: Equity / index contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 500 | $ 700 | |
Financial liabilities, at fair value | $ 1,400 | $ 1,900 | |
Derivative financial instruments: Equity / index contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [3] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [3] | 4.00% | 0.00% |
Equity-to-FX correlation | [3] | (39.00%) | (39.00%) |
Equity-to-equity correlation | [3] | (50.00%) | (50.00%) |
Derivative financial instruments: Equity / index contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [3] | 12.00% | 13.00% |
Volatility of equity stocks, equity and other indices | [3] | 93.00% | 172.00% |
Equity-to-FX correlation | [3] | 67.00% | 70.00% |
Equity-to-equity correlation | [3] | 97.00% | 97.00% |
UBS AG | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | $ 340,999 | $ 324,535 |
Financial liabilities, at fair value | [1] | 283,717 | 217,814 |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | 700 | 600 |
Financial liabilities, at fair value | [2] | $ 0 | $ 0 |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 0.00% | 0.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 134.00% | 133.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3],[4] | 89.00% | 92.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | $ 2,700 | $ 1,700 |
Financial liabilities, at fair value | [2] | $ 0 | $ 0 |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3] | 0.00% | 50.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3] | 100.00% | 102.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2],[3],[4] | 99.00% | 98.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Credit spread | [2],[3] | 3.01% | 0.23% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Credit spread | [2],[3] | 5.13% | 1.24% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 1.00% | 0.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 14.00% | 14.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3],[4] | 2.00% | 2.00% |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2],[5] | $ 1,700 | |
Financial liabilities, at fair value | [2],[5] | $ 0 | |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 79.00% | |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3] | 99.00% | |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | Weighted average | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2],[3],[4] | 89.00% | |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Investment fund units | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | $ 600 | $ 700 |
Financial liabilities, at fair value | [2] | 0 | 0 |
UBS AG | Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Equity instruments | Relative value to market comparable | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [2] | 600 | 500 |
Financial liabilities, at fair value | [2] | 0 | 100 |
UBS AG | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [7] | 11,000 | 11,200 |
UBS AG | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [7] | 1,000 | 2,000 |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 400 | 100 | |
Financial liabilities, at fair value | $ 200 | $ 200 | |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [3],[8] | 0.50% | 0.28% |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [3],[8] | 0.81% | 0.70% |
UBS AG | Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 500 | $ 600 | |
Financial liabilities, at fair value | $ 500 | $ 600 | |
UBS AG | Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [3] | 3.00% | 2.00% |
Credit spread | [3] | 0.04% | 0.06% |
UBS AG | Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [3] | 99.00% | 102.00% |
Credit spread | [3] | 5.45% | 5.50% |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 500 | $ 700 | |
Financial liabilities, at fair value | $ 1,400 | $ 1,900 | |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [3] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [3] | 4.00% | 0.00% |
Equity-to-FX correlation | [3] | (39.00%) | (39.00%) |
Equity-to-equity correlation | [3] | (50.00%) | (50.00%) |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [3] | 12.00% | 13.00% |
Volatility of equity stocks, equity and other indices | [3] | 93.00% | 172.00% |
Equity-to-FX correlation | [3] | 67.00% | 70.00% |
Equity-to-equity correlation | [3] | 97.00% | 97.00% |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||
[2] | Comparative-period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||
[3] | The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par) | ||
[4] | Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. | ||
[5] | Comparative-period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 1c for more information. | ||
[6] | The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. | ||
[7] | Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. | ||
[8] | Effective in 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
FVM - Level 3 instruments_ Va_2
FVM - Level 3 instruments: Valuation techniques and inputs (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |
Disclosure of significant unobservable inputs used in fair value measurement [Text Block] | Significant unobservable inputs in Level 3 positions This section discusses the significant unobservable inputs used in the valuation of Level 3 instruments and assesses the potential effect that a change in each unobservable input in isolation may have on a fair value measurement, including information to facilitate an understanding of factors that give rise to the input ranges shown. Relationships between observable and uno bservable inputs have not been included in the summary below. Bond price equivalent Where market prices are not available for a bond, fair value is measured by comparison with observable pricing data from similar instruments. Factors considered when selecting comparable instruments include credit quality, maturity and industry of the issuer. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield (either as an outright yield or as a spread to LIBOR). Bond prices are expressed as points of the nominal, where 100 represents a fair value equal to the nominal value (i.e., par). For corporate and municipal bonds, the range represents the range of prices from reference issuances used in determining fair value. Bonds priced at 0 are distressed to the point that no recovery is expected, while prices significantly in excess of 100 or par relate to inflation-linked or structured issuances that pay a coupon in excess of the market benchmark as of the meas urement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments that are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where mark et prices are not available for a traded loan, fair value is measured by comparison with observable pricing data for similar instruments. Factors considered when selecting comparable instruments include industry segment, collateral quality, maturity and is suer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in meas uring fair value for loans classified as Level 3. Loans priced at 0 are distressed to the point that no recovery is expected, while a current price of 100 represents a loan that is expected to be repaid in full. Credit spread Valuation models for many cr edit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated referenced underlying. The credit spread of a particular security is quoted in relation to the yield on a benchmark security or reference rate, typically either US Treasury or LIBOR, and is generally expressed in terms of basis points. An increase / (decrease) in credit spread will increase / (decrease) the value of credit protection offered by CDS and other credit derivative products. The income statement effect from such changes depends on the nature and direction of the positions held. Credit spreads may be negative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread repres ents decreasing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range representing credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the range representing greater lev els of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an asset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on t op of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolation would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the ma rket relative to the expected cash flow schedule. This indicates that the market is pricing an increased risk of credit loss into the security that is greater than what is being captured by the expected cash flow generation process. The low ends of the ran ges are typical of funding rates on better - quality instruments. Funding spread Structured financing transactions are valued using synthetic funding curves that best represent the assets that are pledged as collateral for the transactions. They are not repr esentative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy secured funding with counterparties for a given type of collateral. The funding spreads are expressed in terms of basis points over or under LIBOR, and if funding spreads widen, this increases the effect of discounting. A small proportion of structured debt instruments and non-structured fixed-rate bonds within financial liabilities designated at fair value had an exposure to funding sp reads that was longer in duration than the actively traded market. Volatility Volatility measures the variability of future prices for a particular instrument and is generally expressed as a percentage, where a higher number reflects a more volatile instrument for which future price movements are more likely to occur. The minimum level of volatility is 0% and there is no theoretical maxi mum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future prices for the underlying instrument. The effect of volatility on individual positions within the portfolio is driven primarily by whet her the option contract is a long or short position. In most cases, the fair value of an option increases as a result of an increase in volatility and is reduced by a decrease in volatility. Generally, volatility used in the measurement of fair value is de rived from active-market option prices (referred to as implied volatility). A key feature of implied volatility is the volatility “smile” or “skew,” which represents the effect of pricing options of different option strikes at different implied volatility levels. The volatility of interest rates reflects the range of unobservable volatilities across different currencies and related underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest r ates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stocks, equity and other indices reflects the range of underlying stock volatilities. Correlation Correlation measures the interrelation ship between the movements of two variables. It is expressed as a percentage between –100% and +100%, where +100% represents perfectly correlated variables (meaning a movement of one variable is associated with a movement of the other variable in the same direction) and –100% implies the variables are inversely correlated (meaning a movement of one variable is associated with a movement of the other variable in the opposite direction). The effect of correlation on the measurement of fair value depends on th e specific terms of the instruments being valued, reflecting the range of different payoff features within such instruments. Equity-to-FX correlation is important for equity options based on a currency different than the currency of the underlying stock. E quity-to-equity correlation is particularly important for complex options that incorporate, in some manner, different equities in the projected payoff. Equity dividend yields The derivation of a forward price for an individual stock or index is important for measuring fair value for forward or swap contracts and for measuring fair value using option pricing models. The relationship between the current stock price and the forward price is based on a combination of expected future dividend levels and paymen t timings, and, to a lesser extent, the relevant funding rates applicable to the stock in question. Dividend yields are generally expressed as an annualized percentage of the share price with the lowest limit of 0% representing a stock that is not expected to pay any dividend. The dividend yield and timing represents the most significant parameter in determining fair value for instruments that are sensitive to an equity forward price. |
UBS AG | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |
Disclosure of significant unobservable inputs used in fair value measurement [Text Block] | Significant unobservable inputs in Level 3 positions This section discusses the significant unobservable inputs used in the valuation of Level 3 instruments and assesses the potential effect that a change in each unobservable input in isolation may have on a fair value measurement, including information to facilitate an understanding of factors that give rise to the input ranges shown. Relationships between observable and uno bservable inputs have not been included in the summary below. Bond price equivalent Where market prices are not available for a bond, fair value is measured by comparison with observable pricing data from similar instruments. Factors considered when selecting comparable instruments include credit quality, maturity and industry of the issuer. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield (either as an outright yield or as a spread to LIBOR). Bond prices are expressed as points of the nominal, where 100 represents a fair value equal to the nominal value (i.e., par). For corporate and municipal bonds, the range represents the range of prices from reference issuances used in determining fair value. Bonds priced at 0 are distressed to the point that no recovery is expected, while prices significantly in excess of 100 or par relate to inflation-linked or structured issuances that pay a coupon in excess of the market benchmark as of the meas urement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments that are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where mark et prices are not available for a traded loan, fair value is measured by comparison with observable pricing data for similar instruments. Factors considered when selecting comparable instruments include industry segment, collateral quality, maturity and is suer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in meas uring fair value for loans classified as Level 3. Loans priced at 0 are distressed to the point that no recovery is expected, while a current price of 100 represents a loan that is expected to be repaid in full. Credit spread Valuation models for many cr edit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated referenced underlying. The credit spread of a particular security is quoted in relation to the yield on a benchmark security or reference rate, typically either US Treasury or LIBOR, and is generally expressed in terms of basis points. An increase / (decrease) in credit spread will increase / (decrease) the value of credit protection offered by CDS and other credit derivative products. The income statement effect from such changes depends on the nature and direction of the positions held. Credit spreads may be negative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread repres ents decreasing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range representing credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the range representing greater lev els of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an asset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on t op of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolation would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the ma rket relative to the expected cash flow schedule. This indicates that the market is pricing an increased risk of credit loss into the security that is greater than what is being captured by the expected cash flow generation process. The low ends of the ran ges are typical of funding rates on better - quality instruments. Funding spread Structured financing transactions are valued using synthetic funding curves that best represent the assets that are pledged as collateral for the transactions. They are not repr esentative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy secured funding with counterparties for a given type of collateral. The funding spreads are expressed in terms of basis points over or under LIBOR, and if funding spreads widen, this increases the effect of discounting. A small proportion of structured debt instruments and non-structured fixed-rate bonds within financial liabilities designated at fair value had an exposure to funding sp reads that was longer in duration than the actively traded market. Volatility Volatility measures the variability of future prices for a particular instrument and is generally expressed as a percentage, where a higher number reflects a more volatile instrument for which future price movements are more likely to occur. The minimum level of volatility is 0% and there is no theoretical maxi mum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future prices for the underlying instrument. The effect of volatility on individual positions within the portfolio is driven primarily by whet her the option contract is a long or short position. In most cases, the fair value of an option increases as a result of an increase in volatility and is reduced by a decrease in volatility. Generally, volatility used in the measurement of fair value is de rived from active-market option prices (referred to as implied volatility). A key feature of implied volatility is the volatility “smile” or “skew,” which represents the effect of pricing options of different option strikes at different implied volatility levels. The volatility of interest rates reflects the range of unobservable volatilities across different currencies and related underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest r ates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stocks, equity and other indices reflects the range of underlying stock volatilities. Correlation Correlation measures the interrelation ship between the movements of two variables. It is expressed as a percentage between –100% and +100%, where +100% represents perfectly correlated variables (meaning a movement of one variable is associated with a movement of the other variable in the same direction) and –100% implies the variables are inversely correlated (meaning a movement of one variable is associated with a movement of the other variable in the opposite direction). The effect of correlation on the measurement of fair value depends on th e specific terms of the instruments being valued, reflecting the range of different payoff features within such instruments. Equity-to-FX correlation is important for equity options based on a currency different than the currency of the underlying stock. E quity-to-equity correlation is particularly important for complex options that incorporate, in some manner, different equities in the projected payoff. Equity dividend yields The derivation of a forward price for an individual stock or index is important for measuring fair value for forward or swap contracts and for measuring fair value using option pricing models. The relationship between the current stock price and the forward price is based on a combination of expected future dividend levels and paymen t timings, and, to a lesser extent, the relevant funding rates applicable to the stock in question. Dividend yields are generally expressed as an annualized percentage of the share price with the lowest limit of 0% representing a stock that is not expected to pay any dividend. The dividend yield and timing represents the most significant parameter in determining fair value for instruments that are sensitive to an equity forward price. |
FVM - Level 3 instruments_ Sens
FVM - Level 3 instruments: Sensitivity to changes in unobservable input assumptions (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | $ 661 | $ 515 | |
Unfavorable changes | (578) | (462) | |
Traded loans, loans designated at fair value, loan commitments and guarantees | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 99 | 81 | |
Unfavorable changes | (44) | (12) | |
Securities financing transactions | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 17 | 35 | |
Unfavorable changes | (11) | (35) | |
Auction-rate securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1] | 81 | |
Unfavorable changes | [1] | (81) | |
Asset-backed securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 27 | 19 | |
Unfavorable changes | (23) | (15) | |
Equity instruments | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 155 | 81 | |
Unfavorable changes | (94) | (54) | |
Interest rate derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 8 | 13 | |
Unfavorable changes | (39) | (27) | |
Credit derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 33 | 66 | |
Unfavorable changes | (37) | (102) | |
Foreign exchange derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 10 | 12 | |
Unfavorable changes | (5) | (6) | |
Equity / index derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 213 | 195 | |
Unfavorable changes | (225) | (198) | |
Other | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 19 | 13 | |
Unfavorable changes | (19) | (13) | |
UBS AG | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 661 | 515 | |
Unfavorable changes | (578) | (462) | |
UBS AG | Traded loans, loans designated at fair value, loan commitments and guarantees | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 99 | 81 | |
Unfavorable changes | (44) | (12) | |
UBS AG | Securities financing transactions | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 17 | 35 | |
Unfavorable changes | (11) | (35) | |
UBS AG | Auction-rate securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1] | 81 | |
Unfavorable changes | [1] | (81) | |
UBS AG | Asset-backed securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 27 | 19 | |
Unfavorable changes | (23) | (15) | |
UBS AG | Equity instruments | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 155 | 81 | |
Unfavorable changes | (94) | (54) | |
UBS AG | Interest rate derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 8 | 13 | |
Unfavorable changes | (39) | (27) | |
UBS AG | Credit derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 33 | 66 | |
Unfavorable changes | (37) | (102) | |
UBS AG | Foreign exchange derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 10 | 12 | |
Unfavorable changes | (5) | (6) | |
UBS AG | Equity / index derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 213 | 195 | |
Unfavorable changes | (225) | (198) | |
UBS AG | Other | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 19 | 13 | |
Unfavorable changes | $ (19) | $ (13) | |
[1] | Comparative-period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. |
FVM - Movements of level 3 inst
FVM - Movements of level 3 instruments - Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | $ 324,818 | |||
Transfers into Level 3 | 1,400 | ||||
Transfers out of Level 3 | 400 | ||||
Balance at the end of period | [1] | 341,156 | $ 324,818 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 5,631 | |||
Balance at the end of period | [1] | 7,800 | 5,631 | ||
Level 3 | Financial assets at fair value held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 2,000 | 1,700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 400 | ||||
Balance at the beginning of the period | 2,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (200) | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 0 | |||
Purchases | 2,100 | 700 | |||
Sales | (7,100) | (3,900) | |||
Issuances | 4,200 | 2,700 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 700 | 1,000 | |||
Transfers out of Level 3 | (200) | (200) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 2,000 | ||||
Balance at the end of period | 2,000 | [3] | 2,400 | ||
Level 3 | Financial assets at fair value held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 600 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | 100 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 100 | |||
Purchases | 600 | 500 | |||
Sales | (900) | (700) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 500 | 100 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 700 | [3] | 600 | ||
Level 3 | Financial assets at fair value held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 900 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 100 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 900 | 100 | |||
Sales | (5,600) | (2,800) | |||
Issuances | 4,200 | 2,700 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 500 | ||||
Balance at the end of period | 700 | [3] | 900 | ||
Level 3 | Financial assets at fair value held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 100 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 200 | 0 | |||
Sales | (300) | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 600 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 400 | [3] | 600 | ||
Level 3 | Financial assets at fair value held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 400 | 300 | |||
Balance at the beginning of the period | 400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 400 | 200 | |||
Sales | (400) | (300) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 200 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 400 | ||||
Balance at the end of period | 200 | [3] | 400 | ||
Level 3 | Financial assets at fair value not held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,500 | 2,000 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 3,000 | ||||
Balance at the beginning of the period | 4,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | 200 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 200 | |||
Purchases | 1,700 | 0 | |||
Sales | (1,900) | 0 | |||
Issuances | 0 | 400 | |||
Settlements | 0 | (1,300) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 100 | 100 | |||
Balance before IFRS 9 adoption | 1,500 | ||||
Balance at the end of period | 4,400 | [3] | 4,400 | ||
Level 3 | Financial assets at fair value not held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 800 | 1,200 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 600 | ||||
Balance at the beginning of the period | 1,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (200) | 200 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 200 | |||
Purchases | 1,500 | 0 | |||
Sales | (1,000) | 0 | |||
Issuances | 0 | 100 | |||
Settlements | 0 | (700) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 800 | ||||
Balance at the end of period | 1,800 | [3] | 1,400 | ||
Level 3 | Financial assets at fair value not held for trading | Auction-rate securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | [4] | 1,900 | |||
Balance at the beginning of the period | [4] | 1,900 | |||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2],[4] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | [4] | 100 | |||
Purchases | [4] | 0 | |||
Sales | [4] | (400) | |||
Issuances | [4] | 0 | |||
Settlements | [4] | 0 | |||
Transfers into Level 3 | [4] | 0 | |||
Transfers out of Level 3 | [4] | 0 | |||
Foreign currency translation | [4] | 100 | |||
Balance at the end of period | [4] | 1,700 | [3] | 1,900 | |
Level 3 | Financial assets at fair value not held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | [5] | 400 | |||
Balance at the beginning of the period | [5] | 400 | |||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2],[5] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | [5] | 100 | |||
Purchases | [5] | 200 | |||
Sales | [5] | (200) | |||
Issuances | [5] | 0 | |||
Settlements | [5] | 0 | |||
Transfers into Level 3 | [5] | 0 | |||
Transfers out of Level 3 | [5] | 0 | |||
Foreign currency translation | [5] | 0 | |||
Balance at the end of period | [5] | 500 | [3] | 400 | |
Level 3 | Financial assets at fair value not held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 900 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 100 | ||||
Balance at the beginning of the period | 800 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 0 | 0 | |||
Sales | (400) | 0 | |||
Issuances | 0 | 300 | |||
Settlements | 0 | (600) | |||
Transfers into Level 3 | 0 | 100 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 700 | ||||
Balance at the end of period | 500 | [3] | 800 | ||
Level 3 | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 500 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | (500) | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 500 | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | ||||
Purchases | 0 | ||||
Sales | 0 | ||||
Issuances | 0 | ||||
Settlements | 0 | ||||
Transfers into Level 3 | 100 | ||||
Transfers out of Level 3 | 0 | ||||
Foreign currency translation | 0 | ||||
Balance before IFRS 9 adoption | 500 | ||||
Level 3 | Derivative financial instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,600 | 2,500 | |||
Balance at the beginning of the period | 1,600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (300) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (400) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 1,000 | 1,000 | |||
Settlements | (1,500) | (1,200) | |||
Transfers into Level 3 | 500 | 400 | |||
Transfers out of Level 3 | (100) | (900) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the end of period | 1,400 | [3] | 1,600 | ||
Level 3 | Derivative financial instruments | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 100 | 300 | |||
Balance at the beginning of the period | 100 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 100 | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | (100) | (100) | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 100 | ||||
Balance at the end of period | 400 | [3] | 100 | ||
Level 3 | Derivative financial instruments | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 1,300 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (200) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 300 | 0 | |||
Settlements | (400) | (300) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (400) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 500 | [3] | 600 | ||
Level 3 | Derivative financial instruments | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 700 | |||
Balance at the beginning of the period | 700 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 800 | 900 | |||
Settlements | (1,000) | (700) | |||
Transfers into Level 3 | 100 | 300 | |||
Transfers out of Level 3 | (100) | (400) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 700 | ||||
Balance at the end of period | 500 | [3] | 700 | ||
Level 3 | Derivative financial instruments | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 200 | 200 | |||
Balance at the beginning of the period | 200 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 200 | ||||
Balance at the end of period | 0 | [3] | 200 | ||
UBS AG | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 324,535 | |||
Transfers into Level 3 | 1,400 | ||||
Transfers out of Level 3 | 400 | ||||
Balance at the end of period | [1] | 340,999 | 324,535 | ||
UBS AG | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 5,631 | |||
Balance at the end of period | [1] | 7,800 | 5,631 | ||
UBS AG | Level 3 | Financial assets at fair value held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 2,000 | 1,700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 2,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (200) | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 0 | |||
Purchases | 2,100 | 700 | |||
Sales | (7,100) | (3,900) | |||
Issuances | 4,200 | 2,700 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 700 | 1,000 | |||
Transfers out of Level 3 | (200) | (200) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 2,000 | ||||
Balance at the end of period | 2,000 | [3] | 2,400 | ||
UBS AG | Level 3 | Financial assets at fair value held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 600 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | 100 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 100 | |||
Purchases | 600 | 500 | |||
Sales | (900) | (700) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 500 | 100 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 700 | [3] | 600 | ||
UBS AG | Level 3 | Financial assets at fair value held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 900 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 100 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 900 | 100 | |||
Sales | (5,600) | (2,800) | |||
Issuances | 4,200 | 2,700 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 500 | ||||
Balance at the end of period | 700 | [3] | 900 | ||
UBS AG | Level 3 | Financial assets at fair value held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 100 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 200 | 0 | |||
Sales | (300) | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 600 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 400 | [3] | 600 | ||
UBS AG | Level 3 | Financial assets at fair value held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 400 | 300 | |||
Balance at the beginning of the period | 400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 400 | 200 | |||
Sales | (400) | (300) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 200 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 400 | ||||
Balance at the end of period | 200 | [3] | 400 | ||
UBS AG | Level 3 | Financial assets at fair value not held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,500 | 2,000 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 3,000 | ||||
Balance at the beginning of the period | 4,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | 200 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 200 | |||
Purchases | 1,700 | 0 | |||
Sales | (1,900) | 0 | |||
Issuances | 0 | 400 | |||
Settlements | 0 | (1,300) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 100 | 100 | |||
Balance before IFRS 9 adoption | 1,500 | ||||
Balance at the end of period | 4,400 | [3] | 4,400 | ||
UBS AG | Level 3 | Financial assets at fair value not held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 800 | 1,200 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 600 | ||||
Balance at the beginning of the period | 1,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (200) | 200 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 200 | |||
Purchases | 1,500 | 0 | |||
Sales | (1,000) | 0 | |||
Issuances | 0 | 100 | |||
Settlements | 0 | (700) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 800 | ||||
Balance at the end of period | 1,800 | [3] | 1,400 | ||
UBS AG | Level 3 | Financial assets at fair value not held for trading | Auction-rate securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | [4] | 1,900 | |||
Balance at the beginning of the period | [4] | 1,900 | |||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2],[4] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | [4] | 100 | |||
Purchases | [4] | 0 | |||
Sales | [4] | (400) | |||
Issuances | [4] | 0 | |||
Settlements | [4] | 0 | |||
Transfers into Level 3 | [4] | 0 | |||
Transfers out of Level 3 | [4] | 0 | |||
Foreign currency translation | [4] | 100 | |||
Balance at the end of period | [4] | 1,700 | [3] | 1,900 | |
UBS AG | Level 3 | Financial assets at fair value not held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | [5] | 400 | |||
Balance at the beginning of the period | [5] | 400 | |||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2],[5] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | [5] | 100 | |||
Purchases | [5] | 200 | |||
Sales | [5] | (200) | |||
Issuances | [5] | 0 | |||
Settlements | [5] | 0 | |||
Transfers into Level 3 | [5] | 0 | |||
Transfers out of Level 3 | [5] | 0 | |||
Foreign currency translation | [5] | 0 | |||
Balance at the end of period | [5] | 500 | [3] | 400 | |
UBS AG | Level 3 | Financial assets at fair value not held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 900 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 100 | ||||
Balance at the beginning of the period | 800 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 0 | 0 | |||
Sales | (400) | 0 | |||
Issuances | 0 | 300 | |||
Settlements | 0 | (600) | |||
Transfers into Level 3 | 0 | 100 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 700 | ||||
Balance at the end of period | 500 | [3] | 800 | ||
UBS AG | Level 3 | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 500 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ (500) | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 500 | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | ||||
Purchases | 0 | ||||
Sales | 0 | ||||
Issuances | 0 | ||||
Settlements | 0 | ||||
Transfers into Level 3 | 100 | ||||
Transfers out of Level 3 | 0 | ||||
Foreign currency translation | 0 | ||||
Balance before IFRS 9 adoption | 500 | ||||
UBS AG | Level 3 | Derivative financial instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,600 | 2,500 | |||
Balance at the beginning of the period | 1,600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (300) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (400) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 1,000 | 1,000 | |||
Settlements | (1,500) | (1,200) | |||
Transfers into Level 3 | 500 | 400 | |||
Transfers out of Level 3 | (100) | (900) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the end of period | 1,400 | [3] | 1,600 | ||
UBS AG | Level 3 | Derivative financial instruments | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 100 | 300 | |||
Balance at the beginning of the period | 100 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 100 | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | (100) | (100) | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 100 | ||||
Balance at the end of period | 400 | [3] | 100 | ||
UBS AG | Level 3 | Derivative financial instruments | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 1,300 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (200) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 300 | 0 | |||
Settlements | (400) | (300) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (400) | |||
Foreign currency translation | 0 | 100 | |||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the end of period | 500 | [3] | 600 | ||
UBS AG | Level 3 | Derivative financial instruments | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 700 | |||
Balance at the beginning of the period | 700 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (100) | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 800 | 900 | |||
Settlements | (1,000) | (700) | |||
Transfers into Level 3 | 100 | 300 | |||
Transfers out of Level 3 | (100) | (400) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 700 | ||||
Balance at the end of period | 500 | [3] | 700 | ||
UBS AG | Level 3 | Derivative financial instruments | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 200 | 200 | |||
Balance at the beginning of the period | 200 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 200 | ||||
Balance at the end of period | $ 0 | [3] | $ 200 | ||
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||||
[2] | Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income | ||||
[3] | Total Level 3 assets as of 31 December 2018 were USD 7.8 billion (31 December 2017: USD 5.6 billion). Total Level 3 liabilities as of 31 December 2018 were USD 14.3 billion (31 December 2017: USD 16.2 billion). | ||||
[4] | Comparative-period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 1c for more information. | ||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
FVM - Movements of level 3 in_2
FVM - Movements of level 3 instruments - Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period | [1] | $ 217,813 | ||||
Transfers into Level 3 | 2,500 | |||||
Transfers out of Level 3 | 4,800 | |||||
Balance at the end of period | [1] | 283,711 | $ 217,813 | |||
Level 3 | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period | [1] | 16,157 | ||||
Balance at the end of period | [1] | 14,260 | 16,157 | |||
Level 3 | Derivative financial liabilities | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,900 | 3,900 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 0 | |||||
Balance at the beginning of the period | 2,900 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | (300) | 300 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 100 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,300 | 700 | ||||
Settlements | (1,500) | (1,400) | ||||
Transfers into Level 3 | 300 | 500 | ||||
Transfers out of Level 3 | (500) | (1,400) | ||||
Foreign currency translation | 0 | 200 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,900 | |||||
Balance at the end of period | 2,200 | [3] | 2,900 | |||
Level 3 | Derivative financial liabilities | Credit derivative contracts | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 600 | 1,500 | ||||
Balance at the beginning of the period | 600 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 100 | 100 | ||||
Settlements | (200) | (400) | ||||
Transfers into Level 3 | 100 | 200 | ||||
Transfers out of Level 3 | 0 | (800) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 600 | |||||
Balance at the end of period | 500 | [3] | 600 | |||
Level 3 | Derivative financial liabilities | Equity / index contracts | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,000 | 1,800 | ||||
Balance at the beginning of the period | 2,000 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | (300) | 300 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 300 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,200 | 600 | ||||
Settlements | (1,200) | (600) | ||||
Transfers into Level 3 | 300 | 200 | ||||
Transfers out of Level 3 | (500) | (500) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,000 | |||||
Balance at the end of period | 1,400 | [3] | 2,000 | |||
Level 3 | Derivative financial liabilities | Other | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 300 | 600 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 0 | |||||
Balance at the beginning of the period | 300 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 0 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 0 | 0 | ||||
Settlements | (100) | (400) | ||||
Transfers into Level 3 | 0 | 100 | ||||
Transfers out of Level 3 | 0 | (100) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 300 | |||||
Balance at the end of period | 300 | [3] | 300 | |||
Level 3 | Debt issued designated at fair value | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 11,200 | 9,500 | ||||
Balance at the beginning of the period | 11,200 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 500 | 1,400 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 900 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 5,800 | 5,300 | ||||
Settlements | (4,300) | (5,000) | ||||
Transfers into Level 3 | 2,200 | 1,200 | ||||
Transfers out of Level 3 | (4,300) | (1,700) | ||||
Foreign currency translation | (200) | 400 | ||||
Balance at the end of period, before IFRS 9 adoption | 11,200 | |||||
Balance at the end of period | 11,000 | [3] | 11,200 | |||
Level 3 | Other financial liabilities designated at fair value | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,000 | 1,300 | ||||
Balance at the beginning of the period | 2,000 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,100 | 1,500 | ||||
Settlements | (2,000) | (800) | ||||
Transfers into Level 3 | 0 | 100 | ||||
Transfers out of Level 3 | 0 | (200) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,000 | |||||
Balance at the end of period | 1,000 | [3] | 2,000 | |||
UBS AG | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period | [1] | 217,814 | ||||
Transfers into Level 3 | 2,500 | |||||
Transfers out of Level 3 | 4,800 | |||||
Balance at the end of period | [1] | 283,717 | 217,814 | |||
UBS AG | Level 3 | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period | [1] | 16,157 | ||||
Balance at the end of period | [1] | 14,260 | 16,157 | |||
UBS AG | Level 3 | Derivative financial liabilities | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,900 | 3,900 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 0 | |||||
Balance at the beginning of the period | 2,900 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | (300) | 300 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 100 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,300 | 700 | ||||
Settlements | (1,500) | (1,400) | ||||
Transfers into Level 3 | 300 | 500 | ||||
Transfers out of Level 3 | (500) | (1,400) | ||||
Foreign currency translation | 0 | 200 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,900 | |||||
Balance at the end of period | 2,200 | [3] | 2,900 | |||
UBS AG | Level 3 | Derivative financial liabilities | Credit derivative contracts | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 600 | 1,500 | ||||
Balance at the beginning of the period | 600 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 100 | 100 | ||||
Settlements | (200) | (400) | ||||
Transfers into Level 3 | 100 | 200 | ||||
Transfers out of Level 3 | 0 | (800) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 600 | |||||
Balance at the end of period | 500 | [3] | 600 | |||
UBS AG | Level 3 | Derivative financial liabilities | Equity / index contracts | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,000 | 1,800 | ||||
Balance at the beginning of the period | 2,000 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | (300) | 300 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 300 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,200 | 600 | ||||
Settlements | (1,200) | (600) | ||||
Transfers into Level 3 | 300 | 200 | ||||
Transfers out of Level 3 | (500) | (500) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,000 | |||||
Balance at the end of period | 1,400 | [3] | 2,000 | |||
UBS AG | Level 3 | Derivative financial liabilities | Other | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 300 | 600 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 0 | |||||
Balance at the beginning of the period | 300 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 0 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 0 | 0 | ||||
Settlements | (100) | (400) | ||||
Transfers into Level 3 | 0 | 100 | ||||
Transfers out of Level 3 | 0 | (100) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 300 | |||||
Balance at the end of period | 300 | [3] | 300 | |||
UBS AG | Level 3 | Debt issued designated at fair value | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 11,200 | 9,500 | ||||
Balance at the beginning of the period | 11,200 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 500 | 1,400 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 900 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 5,800 | 5,300 | ||||
Settlements | (4,300) | (5,000) | ||||
Transfers into Level 3 | 2,200 | 1,200 | ||||
Transfers out of Level 3 | (4,300) | (1,700) | ||||
Foreign currency translation | (200) | 400 | ||||
Balance at the end of period, before IFRS 9 adoption | 11,200 | |||||
Balance at the end of period | 11,000 | [3] | 11,200 | |||
UBS AG | Level 3 | Other financial liabilities designated at fair value | ||||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,000 | 1,300 | ||||
Balance at the beginning of the period | 2,000 | |||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | 0 | 0 | [2] | |||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||||
Purchases | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Issuances | 1,100 | 1,500 | ||||
Settlements | (2,000) | (800) | ||||
Transfers into Level 3 | 0 | 100 | ||||
Transfers out of Level 3 | 0 | (200) | ||||
Foreign currency translation | 0 | 100 | ||||
Balance at the end of period, before IFRS 9 adoption | 2,000 | |||||
Balance at the end of period | $ 1,000 | [3] | $ 2,000 | |||
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | |||||
[2] | Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income | |||||
[3] | Total Level 3 assets as of 31 December 2018 were USD 7.8 billion (31 December 2017: USD 5.6 billion). Total Level 3 liabilities as of 31 December 2018 were USD 14.3 billion (31 December 2017: USD 16.2 billion). |
FVM - Movements of level 3 in_3
FVM - Movements of level 3 instruments (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | $ 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | $ (0.4) |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 were primarily comprised of corporate and municipal bonds, reflecting decreased observability of the respective bond price equivalent. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 were primarily comprised of equity / index contracts resulting from increased observability of the respective equity volatility inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | $ 2.5 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | $ (4.8) |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into Level 3 were primarily comprised of rates-linked and equity-linked issued debt instruments, reflecting decreased observability of the respective rates volatility and equity volatility inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers out of Level 3 were primarily comprised of rates-linked fixed-rate and equity-linked issued debt instruments resulting from changes in the observability of the OCA curve and equity volatility inputs used to determine the fair value of these instruments. |
Transfers out of Level 3 and into Level 2 of the fair value hierarchy of liabilities held at the end of the reporting period | $ 2.9 |
Description of reasons for transfers out of Level 3 and into Level 2 of fair value hierarchy liabilities held at the end of the reporting period | In the second quarter of 2018, USD 2.9 billion of UBS-issued structured notes, which are reported within Debt issued designated at fair value on the balance sheet, were transferred from Level 3 to Level 2 in the fair value hierarchy, reflecting increased observability of the OCA curve used to value these notes. |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | $ 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | $ (0.4) |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 were primarily comprised of corporate and municipal bonds, reflecting decreased observability of the respective bond price equivalent. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 were primarily comprised of equity / index contracts resulting from increased observability of the respective equity volatility inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | $ 2.5 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | $ (4.8) |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into Level 3 were primarily comprised of rates-linked and equity-linked issued debt instruments, reflecting decreased observability of the respective rates volatility and equity volatility inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers out of Level 3 were primarily comprised of rates-linked fixed-rate and equity-linked issued debt instruments resulting from changes in the observability of the OCA curve and equity volatility inputs used to determine the fair value of these instruments. |
Transfers out of Level 3 and into Level 2 of the fair value hierarchy of liabilities held at the end of the reporting period | $ 2.9 |
Description of reasons for transfers out of Level 3 and into Level 2 of fair value hierarchy liabilities held at the end of the reporting period | In the second quarter of 2018, USD 2.9 billion of UBS-issued structured notes, which are reported within Debt issued designated at fair value on the balance sheet, were transferred from Level 3 to Level 2 in the fair value hierarchy, reflecting increased observability of the OCA curve used to value these notes. |
Maximum exposure to credit risk
Maximum exposure to credit risk - assets at fair value (Detail) - Financial Assets At Fair Value [Member] - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 | |||
Total financial assets measured at fair value | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | $ 224.8 | $ 207.4 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 37.3 | 14.1 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 0.1 | 0 | ||
Credit enhancements | |||||
Netting | 110.8 | 102.8 | |||
Credit derivative contracts | 0 | 0 | |||
Guarantees | 0 | 0 | |||
Exposure to credit risk after collateral and credit enhancements | 76.6 | 90.5 | |||
Financial assets at fair value held for trading - debt instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [2],[3] | 21.9 | 26.3 | ||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [2],[3] | 21.9 | 26.3 | ||
Derivative financial instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [4] | 126.2 | 121.3 | ||
Collateral | |||||
Collateralized by securities | [4] | 4.1 | 4.1 | ||
Credit enhancements | |||||
Netting | [4] | 110.8 | 102.8 | ||
Exposure to credit risk after collateral and credit enhancements | [4] | 11.4 | 14.4 | ||
Brokerage receivables | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 16.8 | ||||
Collateral | |||||
Cash collateral received | 0 | ||||
Collateralized by securities | 16.5 | ||||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 0.3 | ||||
Financial assets at fair value not held for trading - debt instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [5] | 59.8 | 59.9 | ||
Collateral | |||||
Collateralized by securities | [5] | 16.7 | 10.1 | ||
Other collateral | [1],[5] | 0.1 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [5] | 43.1 | 49.8 | ||
Total maximum exposure to credit risk not reflected on the balance sheet | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 13.3 | 9.6 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 8.1 | 0 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 2.4 | 3.9 | ||
Credit enhancements | |||||
Netting | 0 | 0 | |||
Credit derivative contracts | 0.2 | 1 | |||
Guarantees | 0.4 | 0.2 | |||
Exposure to credit risk after collateral and credit enhancements | 2.1 | 4.5 | |||
Guarantees | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 1.6 | [6] | 1.7 | [7] | |
Credit enhancements | |||||
Guarantees | [6] | 0.2 | |||
Exposure to credit risk after collateral and credit enhancements | 1.4 | [6] | 1.7 | [7] | |
Loan commitments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [7] | 3.5 | 8 | ||
Collateral | |||||
Other collateral | [1],[7] | 2.4 | 3.9 | ||
Credit enhancements | |||||
Credit derivative contracts | [7] | 0.2 | 1 | ||
Guarantees | [7] | 0.1 | 0.2 | ||
Exposure to credit risk after collateral and credit enhancements | [7] | 0.7 | 2.8 | ||
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 8.1 | ||||
Collateral | |||||
Collateralized by securities | 8.1 | ||||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 0 | ||||
UBS AG | Total financial assets measured at fair value | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 224.9 | 207.5 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 37.3 | 14.1 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 0.1 | 0 | ||
Credit enhancements | |||||
Netting | 110.8 | 102.8 | |||
Credit derivative contracts | 0 | 0 | |||
Guarantees | 0 | 0 | |||
Exposure to credit risk after collateral and credit enhancements | 76.7 | 90.6 | |||
UBS AG | Financial assets at fair value held for trading - debt instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [2],[3] | 22 | 26.4 | ||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [2],[3] | 22 | 26.4 | ||
UBS AG | Derivative financial instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [4] | 126.2 | 121.3 | ||
Collateral | |||||
Collateralized by securities | [4] | 4.1 | 4.1 | ||
Credit enhancements | |||||
Netting | [4] | 110.8 | 102.8 | ||
Exposure to credit risk after collateral and credit enhancements | [4] | 11.4 | 14.4 | ||
UBS AG | Brokerage receivables | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 16.8 | ||||
Collateral | |||||
Cash collateral received | 0 | ||||
Collateralized by securities | 16.5 | ||||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 0.3 | ||||
UBS AG | Financial assets at fair value not held for trading - debt instruments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [5] | 59.8 | 59.9 | ||
Collateral | |||||
Collateralized by securities | [5] | 16.7 | 10.1 | ||
Other collateral | [1],[5] | 0.1 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [5] | 43.1 | 49.8 | ||
UBS AG | Total maximum exposure to credit risk not reflected on the balance sheet | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 13.3 | 9.6 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 8.1 | 0 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 2.4 | 3.9 | ||
Credit enhancements | |||||
Netting | 0 | 0 | |||
Credit derivative contracts | 0.2 | 1 | |||
Guarantees | 0.4 | 0.2 | |||
Exposure to credit risk after collateral and credit enhancements | 2.1 | 4.5 | |||
UBS AG | Guarantees | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 1.6 | [6] | 1.7 | [7] | |
Credit enhancements | |||||
Guarantees | [6] | 0.2 | |||
Exposure to credit risk after collateral and credit enhancements | 1.4 | [6] | 1.7 | [7] | |
UBS AG | Loan commitments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [7] | 3.5 | 8 | ||
Collateral | |||||
Other collateral | [1],[7] | 2.4 | 3.9 | ||
Credit enhancements | |||||
Credit derivative contracts | [7] | 0.2 | 1 | ||
Guarantees | [7] | 0.1 | 0.2 | ||
Exposure to credit risk after collateral and credit enhancements | [7] | 0.7 | $ 2.8 | ||
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 8.1 | ||||
Collateral | |||||
Collateralized by securities | 8.1 | ||||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | $ 0 | ||||
[1] | Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights | ||||
[2] | Does not include investment fund units. | ||||
[3] | These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. | ||||
[4] | The amount shown in the “Netting” column represents the netting potential not recognized on the balance sheet. Refer to Note 25 for more information. | ||||
[5] | Does not include debt instruments held for unit-linked investment contracts and investment fund units. | ||||
[6] | Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. | ||||
[7] | Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. |
FVM - Financial instruments not
FVM - Financial instruments not measured at fair value - Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |
Carrying value | |||||
Cash and balances at central banks | $ 108,370 | $ 90,045 | $ 90,045 | $ 105,883 | |
Loans and advances to banks | 16,868 | 14,074 | 14,094 | 12,926 | |
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | |
Cash collateral receivables on derivative instruments | 23,602 | 24,040 | 24,040 | 26,198 | |
Loans and advances to customers | 320,352 | 318,480 | 326,746 | 300,010 | |
Other financial assets measured at amortized cost | 22,563 | 18,775 | 37,815 | 27,115 | |
Fair Value | |||||
Financial assets, at fair value | [1] | 341,156 | 324,818 | ||
Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 131,280 | 143,636 | ||
Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 202,077 | 175,550 | ||
Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 7,800 | 5,631 | ||
Loans and advances to banks | |||||
Fair Value | |||||
Correction of fair value assignment through restatement from level 2 into level 3 | 0 | 0 | |||
Receivables from securities financing transactions | |||||
Fair Value | |||||
Correction of fair value assignment through restatement from level 2 into level 3 | 1,000 | 2,000 | |||
Loans and advances to customers | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 139,000 | 137,000 | |||
Loans and advances to customers | Level 3 | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 16,000 | ||||
Other financial assets measured at amortized cost | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 15,000 | 7,000 | |||
Other financial assets measured at amortized cost | Level 3 | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 3,000 | ||||
Not measured at fair value | |||||
Carrying value | |||||
Cash and balances at central banks | [2] | 108,400 | 90,000 | ||
Loans and advances to banks | [2] | 16,900 | 14,100 | ||
Receivables from securities financing transactions | [2] | 95,300 | 92,000 | ||
Cash collateral receivables on derivative instruments | [2] | 23,600 | 24,000 | ||
Loans and advances to customers | [2] | 320,400 | 326,700 | ||
Other financial assets measured at amortized cost | [2],[3] | 22,600 | 37,800 | ||
Not measured at fair value | Cash and balances at central banks | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 108,400 | 90,000 | ||
Not measured at fair value | Cash and balances at central banks | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 108,400 | 90,000 | ||
Not measured at fair value | Cash and balances at central banks | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Cash and balances at central banks | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Loans and advances to banks | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 16,900 | 14,100 | ||
Not measured at fair value | Loans and advances to banks | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 16,300 | 13,400 | ||
Not measured at fair value | Loans and advances to banks | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 600 | 700 | ||
Not measured at fair value | Loans and advances to banks | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Receivables from securities financing transactions | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 95,400 | 92,000 | ||
Not measured at fair value | Receivables from securities financing transactions | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Receivables from securities financing transactions | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 91,900 | 89,400 | ||
Not measured at fair value | Receivables from securities financing transactions | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 3,400 | 2,500 | ||
Not measured at fair value | Cash collateral receivables on derivative instruments | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 23,600 | 24,000 | ||
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 23,600 | 24,000 | ||
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Loans and advances to customers | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 320,900 | 328,200 | ||
Not measured at fair value | Loans and advances to customers | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
Not measured at fair value | Loans and advances to customers | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 171,200 | 181,200 | ||
Not measured at fair value | Loans and advances to customers | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 149,700 | 147,000 | ||
Not measured at fair value | Other financial assets measured at amortized cost | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 22,400 | 37,700 | ||
Not measured at fair value | Other financial assets measured at amortized cost | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 8,400 | 6,500 | ||
Not measured at fair value | Other financial assets measured at amortized cost | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 10,700 | 30,200 | ||
Not measured at fair value | Other financial assets measured at amortized cost | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 3,300 | 1,000 | ||
UBS AG | |||||
Carrying value | |||||
Cash and balances at central banks | 108,370 | 90,045 | 90,045 | 105,883 | |
Loans and advances to banks | 16,642 | 14,027 | 14,047 | 12,896 | |
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | |
Cash collateral receivables on derivative instruments | 23,603 | 24,040 | 24,040 | 26,198 | |
Loans and advances to customers | 321,482 | 320,687 | 328,952 | 300,678 | |
Other financial assets measured at amortized cost | 22,637 | $ 18,850 | 37,890 | $ 27,130 | |
Fair Value | |||||
Financial assets, at fair value | [1] | 340,999 | 324,535 | ||
UBS AG | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 131,283 | 143,638 | ||
UBS AG | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 201,916 | 175,266 | ||
UBS AG | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [1] | 7,800 | 5,631 | ||
UBS AG | Loans and advances to banks | |||||
Fair Value | |||||
Correction of fair value assignment through restatement from level 2 into level 3 | 0 | 0 | |||
UBS AG | Receivables from securities financing transactions | |||||
Fair Value | |||||
Correction of fair value assignment through restatement from level 2 into level 3 | 1,000 | 2,000 | |||
UBS AG | Loans and advances to customers | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 139,000 | 137,000 | |||
UBS AG | Loans and advances to customers | Level 3 | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 16,000 | ||||
UBS AG | Other financial assets measured at amortized cost | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 15,000 | 7,000 | |||
UBS AG | Other financial assets measured at amortized cost | Level 3 | |||||
Fair Value | |||||
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 3,000 | ||||
UBS AG | Not measured at fair value | |||||
Carrying value | |||||
Cash and balances at central banks | [2] | 108,400 | 90,000 | ||
Loans and advances to banks | [2] | 16,600 | 14,000 | ||
Receivables from securities financing transactions | [2] | 95,300 | 92,000 | ||
Cash collateral receivables on derivative instruments | [2] | 23,600 | 24,000 | ||
Loans and advances to customers | [2] | 321,500 | 329,000 | ||
Other financial assets measured at amortized cost | [2],[3] | 22,600 | 37,900 | ||
UBS AG | Not measured at fair value | Cash and balances at central banks | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 108,400 | 90,000 | ||
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 108,400 | 90,000 | ||
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Loans and advances to banks | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 16,600 | 14,000 | ||
UBS AG | Not measured at fair value | Loans and advances to banks | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 16,000 | 13,400 | ||
UBS AG | Not measured at fair value | Loans and advances to banks | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 600 | 600 | ||
UBS AG | Not measured at fair value | Loans and advances to banks | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Receivables from securities financing transactions | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 95,400 | 92,000 | ||
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 91,900 | 89,400 | ||
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 3,400 | 2,500 | ||
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 23,600 | 24,000 | ||
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 23,600 | 24,000 | ||
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Loans and advances to customers | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 322,000 | 330,400 | ||
UBS AG | Not measured at fair value | Loans and advances to customers | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 0 | 0 | ||
UBS AG | Not measured at fair value | Loans and advances to customers | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 172,300 | 183,400 | ||
UBS AG | Not measured at fair value | Loans and advances to customers | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2] | 149,700 | 147,000 | ||
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 22,500 | 37,700 | ||
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 1 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 8,400 | 6,500 | ||
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 2 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | 10,700 | 30,300 | ||
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 3 | |||||
Fair Value | |||||
Financial assets, at fair value | [2],[3] | $ 3,300 | $ 1,000 | ||
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||||
[2] | As of 31 December 2018, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 139 billion of Loans and advances to customers and USD 15 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. As of 31 December 2017, USD 0 billion of Loans and advances to banks, USD 2 billion of Receivables from securities financing transactions, USD 137 billion of Loans and advances to customers and USD 7 billion of Other financial assets measured at amortized cost were expected to be recovered or settled after 12 months | ||||
[3] | Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. |
FVM - Financial instruments n_2
FVM - Financial instruments not measured at fair value - Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Carrying value | |||||||
Amounts due to banks | $ 10,962 | $ 7,728 | $ 7,728 | $ 10,459 | |||
Payables from securities financing transactions | 10,296 | 12,273 | 17,485 | 9,266 | |||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | |||
Customer deposits | 419,838 | 414,172 | 419,577 | 416,267 | |||
Debt issued measured at amortized cost | 132,271 | [1] | 143,160 | 143,160 | [1] | 101,837 | |
Other financial liabilities measured at amortized cost | 6,885 | 37,276 | 37,729 | ||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 283,711 | 217,813 | ||||
Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 24,986 | 27,119 | ||||
Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 244,465 | 174,538 | ||||
Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 14,260 | 16,157 | ||||
Not measured at fair value | |||||||
Carrying value | |||||||
Amounts due to banks | 11,000 | 7,700 | |||||
Payables from securities financing transactions | 10,300 | 17,500 | |||||
Cash collateral payables on derivative instruments | 28,900 | 31,000 | |||||
Customer deposits | 419,800 | 419,600 | |||||
Debt issued measured at amortized cost | 132,300 | 143,200 | |||||
Other financial liabilities measured at amortized cost | 6,900 | 37,200 | |||||
Not measured at fair value | Amount due to banks | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 11,000 | 7,700 | |||||
Not measured at fair value | Amount due to banks | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 8,900 | 6,600 | |||||
Not measured at fair value | Amount due to banks | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 1,900 | 1,100 | |||||
Not measured at fair value | Amount due to banks | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 200 | 0 | |||||
Not measured at fair value | Payables from securities financing transactions | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 10,300 | 17,500 | |||||
Not measured at fair value | Payables from securities financing transactions | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Payables from securities financing transactions | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 10,300 | 17,500 | |||||
Not measured at fair value | Payables from securities financing transactions | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Cash collateral payables on derivative instruments | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 28,900 | 31,000 | |||||
Not measured at fair value | Cash collateral payables on derivative instruments | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Cash collateral payables on derivative instruments | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 28,900 | 31,000 | |||||
Not measured at fair value | Cash collateral payables on derivative instruments | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Customer deposits | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 419,900 | 419,600 | |||||
Not measured at fair value | Customer deposits | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Customer deposits | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 419,800 | 419,600 | |||||
Not measured at fair value | Customer deposits | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 100 | 0 | |||||
Not measured at fair value | Debt issued measured at amortized cost | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 135,000 | 147,200 | |||||
Not measured at fair value | Debt issued measured at amortized cost | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
Not measured at fair value | Debt issued measured at amortized cost | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 133,600 | 142,700 | |||||
Not measured at fair value | Debt issued measured at amortized cost | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 1,400 | 4,500 | |||||
Not measured at fair value | Other financial liabilities measured at amortized cost | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 6,900 | 37,200 | ||||
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 0 | 0 | ||||
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 6,800 | 37,200 | ||||
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 100 | 0 | ||||
UBS AG | |||||||
Carrying value | |||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | |||
Payables from securities financing transactions | 10,296 | 12,272 | 17,485 | 9,266 | |||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | |||
Customer deposits | 421,986 | 417,653 | 423,058 | 418,129 | |||
Funding from UBS Group AG and its subsidiaries | 41,202 | [4] | 35,648 | 35,648 | [4] | 24,201 | |
Debt issued measured at amortized cost | 91,245 | [1] | $ 107,458 | 107,458 | [1] | 77,617 | |
Other financial liabilities measured at amortized cost | 7,576 | 38,092 | $ 38,361 | ||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 283,717 | 217,814 | ||||
UBS AG | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 24,992 | 27,119 | ||||
UBS AG | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 244,465 | 174,539 | ||||
UBS AG | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [2] | 14,260 | 16,157 | ||||
UBS AG | Not measured at fair value | |||||||
Carrying value | |||||||
Amounts due to banks | 11,000 | 7,700 | |||||
Payables from securities financing transactions | 10,300 | 17,500 | |||||
Cash collateral payables on derivative instruments | 28,900 | 31,000 | |||||
Customer deposits | 422,000 | 423,100 | |||||
Funding from UBS Group AG and its subsidiaries | 41,200 | 35,600 | |||||
Debt issued measured at amortized cost | 91,200 | 107,500 | |||||
Other financial liabilities measured at amortized cost | 7,600 | 38,000 | |||||
UBS AG | Not measured at fair value | Amount due to banks | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 11,000 | 7,700 | |||||
UBS AG | Not measured at fair value | Amount due to banks | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 8,900 | 6,600 | |||||
UBS AG | Not measured at fair value | Amount due to banks | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 1,900 | 1,100 | |||||
UBS AG | Not measured at fair value | Amount due to banks | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 200 | 0 | |||||
UBS AG | Not measured at fair value | Payables from securities financing transactions | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 10,300 | 17,500 | |||||
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 10,300 | 17,500 | |||||
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 28,900 | 31,000 | |||||
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 28,900 | 31,000 | |||||
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Customer deposits | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 422,000 | 423,100 | |||||
UBS AG | Not measured at fair value | Customer deposits | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Customer deposits | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 421,900 | 423,100 | |||||
UBS AG | Not measured at fair value | Customer deposits | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 100 | 0 | |||||
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 41,700 | 37,300 | |||||
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 41,700 | 37,300 | |||||
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 93,500 | 109,800 | |||||
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 0 | 0 | |||||
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 92,000 | 105,300 | |||||
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | 1,400 | 4,500 | |||||
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 7,600 | 38,000 | ||||
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Level 1 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 0 | 0 | ||||
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Level 2 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | 7,500 | 38,000 | ||||
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Level 3 | |||||||
Fair Value | |||||||
Financial liabilities, at fair value | [3] | $ 100 | $ 0 | ||||
[1] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | ||||||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are not included in this table. The fair value of these derivatives was not material for the periods presented | ||||||
[3] | Upon adoption of IFRS 9 on 1 January 2018, prime brokerage receivables and payables were reclassified from amortized cost to fair value through profit or loss. Refer to Note 1c for more information. | ||||||
[4] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
FVM - Financial instruments n_3
FVM - Financial instruments not measured at fair value (Narrative) (Detail) - Not Later Than Three Months [Member] | Dec. 31, 2018 |
Cash and balances at central banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Loans and advances to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 96.00% |
Receivables from securities financing transactions | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 89.00% |
Cash collateral receivables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Loans | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 48.00% |
Other financial assets measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 26.00% |
Amount due to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 81.00% |
Payables from securities financing transactions | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 97.00% |
Cash collateral payables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Customer deposits | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 97.00% |
Debt issued measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 7.00% |
Other financial liabilities measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Cash and balances at central banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Loans and advances to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 96.00% |
UBS AG | Receivables from securities financing transactions | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 89.00% |
UBS AG | Cash collateral receivables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Loans | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 48.00% |
UBS AG | Other financial assets measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 26.00% |
UBS AG | Amount due to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 81.00% |
UBS AG | Payables from securities financing transactions | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 97.00% |
UBS AG | Cash collateral payables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Customer deposits | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 97.00% |
UBS AG | Debt issued measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 0.00% |
UBS AG | Other financial liabilities measured at amortized cost | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Funding from UBS Group AG and its subsidiaries | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 0.00% |
Offsetting financial assets (De
Offsetting financial assets (Detail) - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 | |
Netting recognized on the balance sheet | |||
Gross assets before netting | $ 322.9 | $ 287.8 | |
Netting with gross liabilities | [1] | (97.2) | (82) |
Net assets recognized on the balance sheet | 225.7 | 205.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (110) | (105.4) |
Collateral received | [2] | (102.6) | (83.7) |
Assets after consideration of netting potential | [2] | 13 | 16.8 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 102.2 | 91.9 |
Total assets | |||
Total assets, after consideration of further netting potential | 115.2 | 108.7 | |
Total assets recognized on the balance sheet | 327.9 | 297.7 | |
Receivables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 88.5 | 147.9 |
Netting with gross liabilities | [1],[4] | (13) | (78.8) |
Net assets recognized on the balance sheet | [4] | 75.5 | 69.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (4.4) | (7.7) |
Collateral received | [2],[4] | (71.2) | (61.4) |
Assets after consideration of netting potential | [2],[4] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 19.8 | 22.8 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 19.8 | 22.8 |
Total assets recognized on the balance sheet | [4] | 95.3 | 92 |
Derivative financial instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 124.3 | 117.2 | |
Netting with gross liabilities | [1] | (4.3) | (2.1) |
Net assets recognized on the balance sheet | 120 | 115.1 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (90.8) | (85.6) |
Collateral received | [2] | (24) | (21.3) |
Assets after consideration of netting potential | [2] | 5.2 | 8.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 6.2 | 6.2 |
Total assets | |||
Total assets, after consideration of further netting potential | 11.4 | 14.4 | |
Total assets recognized on the balance sheet | 126.2 | 121.3 | |
Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [5] | 24.6 | 22.2 |
Netting with gross liabilities | [1],[5] | (2.3) | (1.1) |
Net assets recognized on the balance sheet | [5] | 22.3 | 21.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[5] | (13.5) | (12) |
Collateral received | [2],[5] | (1) | (0.8) |
Assets after consideration of netting potential | [2],[5] | 7.8 | 8.3 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[5] | 1.3 | 2.9 |
Total assets | |||
Total assets, after consideration of further netting potential | [5] | 9.1 | 11.2 |
Total assets recognized on the balance sheet | [5] | 23.6 | 24 |
Financial assets at FVTPL - non trading | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 85.4 | 0.4 |
Netting with gross liabilities | [1],[4] | (77.5) | 0 |
Net assets recognized on the balance sheet | [4] | 7.8 | 0.4 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (1.4) | 0 |
Collateral received | [2],[4] | (6.4) | (0.2) |
Assets after consideration of netting potential | [2],[4] | 0 | 0.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 74.9 | 60 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 74.9 | 60.3 |
Total assets recognized on the balance sheet | [4] | 82.7 | 60.5 |
of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 85.3 | ||
Netting with gross liabilities | [1] | (77.5) | |
Net assets recognized on the balance sheet | 7.8 | ||
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (1.4) | |
Collateral received | [2] | (6.4) | |
Assets after consideration of netting potential | [2] | 0 | |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 2.1 | |
Total assets | |||
Total assets, after consideration of further netting potential | 2.1 | ||
Total assets recognized on the balance sheet | 9.9 | ||
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 322.9 | 287.8 | |
Netting with gross liabilities | [1] | (97.2) | (82) |
Net assets recognized on the balance sheet | 225.7 | 205.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (110) | (105.4) |
Collateral received | [2] | (102.6) | (83.7) |
Assets after consideration of netting potential | [2] | 13 | 16.8 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 101.9 | 91.6 |
Total assets | |||
Total assets, after consideration of further netting potential | 114.9 | 108.3 | |
Total assets recognized on the balance sheet | 327.6 | 297.4 | |
UBS AG | Receivables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 88.5 | 147.9 |
Netting with gross liabilities | [1],[4] | (13) | (78.8) |
Net assets recognized on the balance sheet | [4] | 75.5 | 69.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (4.4) | (7.7) |
Collateral received | [2],[4] | (71.2) | (61.4) |
Assets after consideration of netting potential | [2],[4] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 19.8 | 22.8 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 19.8 | 22.8 |
Total assets recognized on the balance sheet | [4] | 95.3 | 92 |
UBS AG | Derivative financial instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 124.3 | 117.2 | |
Netting with gross liabilities | [1] | (4.3) | (2.1) |
Net assets recognized on the balance sheet | 120 | 115.1 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (90.8) | (85.6) |
Collateral received | [2] | (24) | (21.3) |
Assets after consideration of netting potential | [2] | 5.2 | 8.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 6.2 | 6.2 |
Total assets | |||
Total assets, after consideration of further netting potential | 11.4 | 14.4 | |
Total assets recognized on the balance sheet | 126.2 | 121.3 | |
UBS AG | Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [5] | 24.6 | 22.2 |
Netting with gross liabilities | [1],[5] | (2.3) | (1.1) |
Net assets recognized on the balance sheet | [5] | 22.3 | 21.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[5] | (13.5) | (12) |
Collateral received | [2],[5] | (1) | (0.8) |
Assets after consideration of netting potential | [2],[5] | 7.8 | 8.3 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[5] | 1.3 | 2.9 |
Total assets | |||
Total assets, after consideration of further netting potential | [5] | 9.1 | 11.2 |
Total assets recognized on the balance sheet | [5] | 23.6 | 24 |
UBS AG | Financial assets at FVTPL - non trading | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 85.4 | 0.4 |
Netting with gross liabilities | [1],[4] | (77.5) | 0 |
Net assets recognized on the balance sheet | [4] | 7.8 | 0.4 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (1.4) | 0 |
Collateral received | [2],[4] | (6.4) | (0.2) |
Assets after consideration of netting potential | [2],[4] | 0 | 0.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 74.6 | 59.6 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 74.6 | 59.9 |
Total assets recognized on the balance sheet | [4] | 82.4 | $ 60.1 |
UBS AG | of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 85.3 | ||
Netting with gross liabilities | [1] | (77.5) | |
Net assets recognized on the balance sheet | 7.8 | ||
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (1.4) | |
Collateral received | [2] | (6.4) | |
Assets after consideration of netting potential | [2] | 0 | |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 2.1 | |
Total assets | |||
Total assets, after consideration of further netting potential | 2.1 | ||
Total assets recognized on the balance sheet | $ 9.9 | ||
[1] | The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. Netting in this column for reverse repurchase agreements presented within the lines “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” taken together corresponds to the amounts presented for repurchase agreements in the “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” lines in the liabilities table presented on the following page. | ||
[2] | For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. | ||
[3] | Includes assets not subject to enforceable netting arrangements and other out-of-scope items. | ||
[4] | Certain reverse repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Financial assets at fair value not held for trading” and a decrease in amounts presented on the line “Receivables from securities financing transactions.” Refer to Note 1c for more information | ||
[5] | The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. |
Offsetting financial liabilitie
Offsetting financial liabilities (Detail) - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 | |
Netting recognized on the balance sheet | |||
Gross liabilities before netting | $ 260.4 | $ 239 | |
Netting with gross assets | [1] | (97.2) | (82) |
Net liabilities recognized on the balance sheet | 163.2 | 157 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (110.7) | (110) |
Collateral pledged | [2] | (32.6) | (22.7) |
Liabilities after consideration of netting potential | [2] | 19.8 | 24.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 35.4 | 27.3 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 55.2 | 51.6 | |
Total liabilities recognized on the balance sheet | 198.5 | 184.3 | |
Payables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 20.6 | 92.5 |
Netting with gross assets | [1],[4] | (12.4) | (78.8) |
Net liabilities recognized on the balance sheet | [4] | 8.3 | 13.7 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (3.6) | (7.7) |
Collateral pledged | [2],[4] | (4.7) | (6) |
Liabilities after consideration of netting potential | [2],[4] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 2 | 3.8 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 2 | 3.8 |
Total liabilities recognized on the balance sheet | [4] | 10.3 | 17.5 |
Derivative financial instruments - Liabilities | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 124.1 | 114.3 | |
Netting with gross assets | [1] | (4.3) | (2.1) |
Net liabilities recognized on the balance sheet | 119.8 | 112.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (90.8) | (85.6) |
Collateral pledged | [2] | (20.9) | (15.4) |
Liabilities after consideration of netting potential | [2] | 8.1 | 11.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 5.9 | 6.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 14 | 18.1 | |
Total liabilities recognized on the balance sheet | 125.7 | 119.1 | |
Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [5] | 29 | 30.2 |
Netting with gross assets | [1],[5] | (2.3) | (1.1) |
Net liabilities recognized on the balance sheet | [5] | 26.7 | 29.2 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[5] | (14.2) | (16.7) |
Collateral pledged | [2],[5] | (1.2) | (1.2) |
Liabilities after consideration of netting potential | [2],[5] | 11.3 | 11.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[5] | 2.2 | 1.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [5] | 13.5 | 13.1 |
Total liabilities recognized on the balance sheet | [5] | 28.9 | 31 |
Other financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 86.6 | 1.9 |
Netting with gross assets | [1],[4] | (78.2) | 0 |
Net liabilities recognized on the balance sheet | [4] | 8.4 | 1.9 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (2.1) | 0 |
Collateral pledged | [2],[4] | (5.9) | (0.1) |
Liabilities after consideration of netting potential | [2],[4] | 0.4 | 1.8 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 25.2 | 14.7 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 25.6 | 16.5 |
Total liabilities recognized on the balance sheet | [4] | 33.6 | 16.6 |
of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 86.1 | ||
Netting with gross assets | [1] | (78.2) | |
Net liabilities recognized on the balance sheet | 7.9 | ||
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (2.1) | |
Collateral pledged | [2] | (5.9) | |
Liabilities after consideration of netting potential | [2] | 0 | |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 1.6 | |
Total liabilities | |||
Total liabilities after consideration of netting potential | 1.6 | ||
Total liabilities recognized on the balance sheet | 9.5 | ||
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 260.4 | 239 | |
Netting with gross assets | [1] | (97.2) | (82) |
Net liabilities recognized on the balance sheet | 163.2 | 157 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (110.7) | (110) |
Collateral pledged | [2] | (32.6) | (22.7) |
Liabilities after consideration of netting potential | [2] | 19.8 | 24.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 35.4 | 27.3 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 55.2 | 51.6 | |
Total liabilities recognized on the balance sheet | 198.5 | 184.3 | |
UBS AG | Payables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 20.6 | 92.5 |
Netting with gross assets | [1],[4] | (12.4) | (78.8) |
Net liabilities recognized on the balance sheet | [4] | 8.3 | 13.7 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (3.6) | (7.7) |
Collateral pledged | [2],[4] | (4.7) | (6) |
Liabilities after consideration of netting potential | [2],[4] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 2 | 3.8 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 2 | 3.8 |
Total liabilities recognized on the balance sheet | [4] | 10.3 | 17.5 |
UBS AG | Derivative financial instruments - Liabilities | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 124.1 | 114.3 | |
Netting with gross assets | [1] | (4.3) | (2.1) |
Net liabilities recognized on the balance sheet | 119.8 | 112.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (90.8) | (85.6) |
Collateral pledged | [2] | (20.9) | (15.4) |
Liabilities after consideration of netting potential | [2] | 8.1 | 11.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 5.9 | 6.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 14 | 18.1 | |
Total liabilities recognized on the balance sheet | 125.7 | 119.1 | |
UBS AG | Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [5] | 29 | 30.2 |
Netting with gross assets | [1],[5] | (2.3) | (1.1) |
Net liabilities recognized on the balance sheet | [5] | 26.7 | 29.2 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[5] | (14.2) | (16.7) |
Collateral pledged | [2],[5] | (1.2) | (1.2) |
Liabilities after consideration of netting potential | [2],[5] | 11.3 | 11.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[5] | 2.2 | 1.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [5] | 13.5 | 13.1 |
Total liabilities recognized on the balance sheet | [5] | 28.9 | 31 |
UBS AG | Other financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 86.6 | 1.9 |
Netting with gross assets | [1],[4] | (78.2) | 0 |
Net liabilities recognized on the balance sheet | [4] | 8.4 | 1.9 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (2.1) | 0 |
Collateral pledged | [2],[4] | (5.9) | (0.1) |
Liabilities after consideration of netting potential | [2],[4] | 0.4 | 1.8 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 25.2 | 14.7 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 25.6 | 16.5 |
Total liabilities recognized on the balance sheet | [4] | 33.6 | $ 16.6 |
UBS AG | of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 86.1 | ||
Netting with gross assets | [1] | (78.2) | |
Net liabilities recognized on the balance sheet | 7.9 | ||
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (2.1) | |
Collateral pledged | [2] | (5.9) | |
Liabilities after consideration of netting potential | [2] | 0 | |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 1.6 | |
Total liabilities | |||
Total liabilities after consideration of netting potential | 1.6 | ||
Total liabilities recognized on the balance sheet | $ 9.5 | ||
[1] | The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. Netting in this column for repurchase agreements presented within the lines “Payables from securities financing transactions” and “Other financial liabilities designated at fair value” taken together corresponds to the amounts presented for reverse repurchase agreements in the “Receivables from securities financing transactions” and “Financial assets at fair value not held for trading” lines in the assets table presented on the previous page. | ||
[2] | For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. | ||
[3] | Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. | ||
[4] | Certain repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. This has resulted in an increase in amounts presented on the line “Other financial liabilities designated at fair value” and a decrease in amounts presented on the line “Payables from securities financing transactions.” Refer to Note 1c for more information | ||
[5] | The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain exchange-traded derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and exchange-traded derivatives that are economically settled on a daily basis. |
Restricted financial assets (De
Restricted financial assets (Detail) - USD ($) $ in Millions | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial assets pledged as collateral | ||||
Financial assets at fair value held for trading | $ 43,292 | $ 47,414 | ||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 32,121 | 36,277 | ||
Loans and advances to customers | [1] | 18,804 | 18,087 | |
Financial assets at fair value not held for trading | 0 | 174 | ||
Total financial assets pledged as collateral | [2] | 62,096 | 65,676 | |
Other restricted financial assets | ||||
Loans and advances to banks | 5,140 | 3,364 | ||
Financial assets at fair value held for trading | [3] | 3,589 | 12,591 | |
Cash collateral receivables on derivative instruments | 3,205 | 3,921 | ||
Loans and advances to customers | 935 | 1,289 | ||
Financial assets at fair value not held for trading | [3] | 23,514 | 2,669 | |
Financial assets measured at fair value through other comprehensive income | 171 | 253 | ||
Other | 203 | 97 | ||
Total other restricted financial assets | 36,758 | 24,183 | ||
Total financial assets pledged and other restricted financial assets | 98,854 | 89,859 | ||
Pledged mortgage loans that could be withdrawn or used | 3,200 | 2,200 | ||
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | 300 | 2,600 | ||
Reclassification of assets held to hedge unit-linked investment contracts from Financial assets at fair value held for trading to Financial assets at fair value not held for trading | $ 11,600 | |||
UBS AG | ||||
Financial assets pledged as collateral | ||||
Financial assets at fair value held for trading | 43,292 | 47,454 | ||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 32,121 | 36,277 | ||
Loans and advances to customers | [4] | 18,804 | 18,087 | |
Financial assets at fair value not held for trading | 0 | 174 | ||
Total financial assets pledged as collateral | [5] | 62,096 | 65,715 | |
Other restricted financial assets | ||||
Loans and advances to banks | 5,140 | 3,364 | ||
Financial assets at fair value held for trading | [6] | 1,054 | 12,591 | |
Cash collateral receivables on derivative instruments | 3,205 | 3,921 | ||
Loans and advances to customers | 935 | 1,289 | ||
Financial assets at fair value not held for trading | [6] | 23,212 | 2,282 | |
Financial assets measured at fair value through other comprehensive income | 171 | 253 | ||
Other | 203 | 97 | ||
Total other restricted financial assets | 33,920 | 23,796 | ||
Total financial assets pledged and other restricted financial assets | 96,016 | 89,512 | ||
Pledged mortgage loans that could be withdrawn or used | 3,200 | 2,200 | ||
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | $ 300 | $ 2,600 | ||
Reclassification of assets held to hedge unit-linked investment contracts from Financial assets at fair value held for trading to Financial assets at fair value not held for trading | $ 11,600 | |||
[1] | All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements | |||
[2] | Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). | |||
[3] | Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. | |||
[4] | All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately USD 3.2 billion for 31 December 2018 (31 December 2017: approximately USD 2.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements | |||
[5] | Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2018: USD 0.3 billion; 31 December 2017: USD 2.6 billion). | |||
[6] | Financial assets for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
Restricted financial assets (Na
Restricted financial assets (Narrative) (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Restricted Financial Assets [Line Items] | ||
Pledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances | $ 12,516 | $ 12,779 |
UBS AG | ||
Restricted Financial Assets [Line Items] | ||
Pledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances | $ 12,516 | $ 12,779 |
Transferred financial assets _4
Transferred financial assets that are not derecognized in their entirety (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | $ 32,121 | $ 36,451 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,450 |
Financial assets at fair value held for trading that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 32,121 | 36,277 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,277 |
relating to securities lending and repurchase agreements in exchange for cash received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 4,726 | 13,485 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,277 |
relating to securities lending agreements in exchange for securities received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 26,234 | 21,684 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
relating to other financial asset transfers | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 1,161 | 1,109 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
Financial assets at fair value not held for trading that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 0 | 174 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 173 |
UBS AG | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 32,121 | 36,451 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,450 |
UBS AG | Financial assets at fair value held for trading that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 32,121 | 36,277 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,277 |
UBS AG | relating to securities lending and repurchase agreements in exchange for cash received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 4,726 | 13,485 |
Carrying value of associated liabilities recognized on-balance sheet | 4,674 | 13,277 |
UBS AG | relating to securities lending agreements in exchange for securities received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 26,234 | 21,684 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
UBS AG | relating to other financial asset transfers | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 1,161 | 1,109 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
UBS AG | Financial assets at fair value not held for trading that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 0 | 174 |
Carrying value of associated liabilities recognized on-balance sheet | $ 0 | $ 173 |
Transferred financial assets _5
Transferred financial assets that are not derecognized in their entirety (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | |
Proportion of transferred financial assets that were trading portfolio assets in exchange for cash | 14.00% |
Minimum haircut applied to transferred assets in securities lending and repurchase agreements | 0.00% |
Maximum haircut applied to transferred assets in securities lending and repurchase agreements | 15.00% |
UBS AG | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | |
Proportion of transferred financial assets that were trading portfolio assets in exchange for cash | 14.00% |
Minimum haircut applied to transferred assets in securities lending and repurchase agreements | 0.00% |
Maximum haircut applied to transferred assets in securities lending and repurchase agreements | 15.00% |
Transferred financial assets _6
Transferred financial assets that are derecognized in their entirety with continuing involvement (Narrative) (Detail 1.1) - Securitisations [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | $ 6 | $ 8 |
Income From Continuing Involvement In Derecognised Financial Assets | 3 | 4 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,198 | 1,200 |
Maximum Exposure To Loss From Continuing Involvement | 10 | 15 |
UBS AG | ||
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | 6 | 8 |
Income From Continuing Involvement In Derecognised Financial Assets | 3 | 4 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,198 | 1,200 |
Maximum Exposure To Loss From Continuing Involvement | $ 10 | $ 15 |
Transferred financial assets _7
Transferred financial assets that are derecognized in their entirety with continuing involvement (Narrative) (Detail 1.2) - Securitisations [Member] $ in Millions | Dec. 31, 2018USD ($) |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | $ 4 |
Not Later Than One Month [Member] | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | 4 |
UBS AG | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | 4 |
UBS AG | Not Later Than One Month [Member] | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | $ 4 |
Off-balance sheet assets rece_3
Off-balance sheet assets received (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | $ 483,688 | $ 481,265 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions | [1] | 473,302 | 474,420 |
received in unsecured borrowings | 10,385 | 6,845 | |
Thereof sold or repledged | [2] | 356,745 | 346,243 |
in connection with financing activities | 315,402 | 300,880 | |
to satisfy commitments under short sale transactions | 28,943 | 31,251 | |
in connection with derivative and other transactions | [1] | 12,400 | 14,112 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | 24,500 | 28,800 | |
UBS AG | |||
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | 483,688 | 481,265 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions | [3] | 473,302 | 474,420 |
received in unsecured borrowings | 10,385 | 6,845 | |
Thereof sold or repledged | [4] | 356,752 | 346,243 |
in connection with financing activities | 315,402 | 300,880 | |
to satisfy commitments under short sale transactions | 28,949 | 31,251 | |
in connection with derivative and other transactions | [3] | 12,400 | 14,112 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | $ 24,500 | $ 28,800 | |
[1] | Includes securities received as initial margin from its clients that UBS is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services | ||
[2] | Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. | ||
[3] | Includes securities received as initial margin from its clients that UBS AG is required to remit to central counterparties, brokers and deposit banks through its exchange-traded derivative clearing and execution services | ||
[4] | Does not include off-balance sheet securities (31 December 2018: USD 24.5 billion; 31 December 2017: USD 28.8 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Maturity analysis of financia_3
Maturity analysis of financial liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | $ 11,000 | $ 7,700 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 10,400 | 17,700 | ||||
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 28,900 | 31,000 | ||||
Customer deposits, undiscounted cash flow | [1] | 420,400 | 419,700 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 146,200 | 157,100 | ||||
Other financial liabilities measured at amortized cost, undiscounted cash flows | 5,600 | [1] | $ 6,859 | 36,000 | [1] | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 622,600 | [1] | 615,222 | 669,300 | [1] | ||
Financial liabilities at fair value held for trading | 28,943 | [3],[4],[5] | 31,251 | 31,251 | [3],[5] | $ 22,425 | |
Derivative financial instruments | 125,723 | [3],[6],[7],[8],[9] | 119,196 | 119,137 | [3],[6],[7],[8],[9] | 151,121 | |
Brokerage payables designated at fair value, undiscounted cash flows | 38,400 | 35,818 | 0 | ||||
Debt issued designated at fair value, undiscounted cash flows | 59,400 | [10] | 50,782 | 52,600 | |||
Other financial liabilities designated at fair value, undiscounted cash flows | 33,700 | 21,850 | 17,000 | ||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 286,200 | 258,897 | 219,900 | ||||
Total financial liabilities, undiscounted cash flows | 908,800 | 889,200 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 34,700 | 39,700 | ||||
Guarantees | [11],[12] | 19,800 | 19,300 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 9,000 | 13,000 | ||||
Securities borrowing agreements | [11] | 0 | 0 | ||||
Total | [11] | 63,600 | 72,000 | ||||
Trading portfolio liabilities contractually due within one month | 28,300 | 30,300 | |||||
Trading portfolio liabilities contractually due between one month and one year | 600 | 800 | |||||
Trading portfolio liabilities contractually due between 1 and 5 years | 0 | 100 | |||||
Due within 1 month | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 7,900 | 6,300 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 9,500 | 13,900 | ||||
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 28,900 | 31,000 | ||||
Customer deposits, undiscounted cash flow | [1] | 395,800 | 403,200 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 4,600 | 4,200 | ||||
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 5,600 | 36,000 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 452,400 | 494,600 | ||||
Financial liabilities at fair value held for trading | [3] | 28,900 | [4] | 31,300 | |||
Derivative financial instruments | [3] | 125,700 | 119,100 | ||||
Brokerage payables designated at fair value, undiscounted cash flows | 38,400 | ||||||
Debt issued designated at fair value, undiscounted cash flows | 15,700 | [10] | 18,300 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 30,000 | 12,400 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 238,800 | 181,100 | |||||
Total financial liabilities, undiscounted cash flows | 691,200 | 675,700 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 34,100 | 39,200 | ||||
Guarantees | [11],[12] | 19,800 | 19,300 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 9,000 | 13,000 | ||||
Securities borrowing agreements | [11] | 0 | 0 | ||||
Total | [11] | 62,900 | 71,500 | ||||
Due between 1 and 3 months | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 1,000 | 400 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 600 | 3,100 | ||||
Customer deposits, undiscounted cash flow | [1] | 13,100 | 10,500 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 6,300 | 15,400 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 21,000 | 29,400 | ||||
Debt issued designated at fair value, undiscounted cash flows | 18,100 | [10] | 10,000 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 400 | 600 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 18,500 | 10,600 | |||||
Total financial liabilities, undiscounted cash flows | 39,500 | 40,000 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 300 | 200 | ||||
Guarantees | [11],[12] | 0 | |||||
Forward starting transactions | |||||||
Total | [11] | 300 | 200 | ||||
Due between 3 and 12 months | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 1,600 | 1,000 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 300 | 600 | ||||
Customer deposits, undiscounted cash flow | [1] | 7,000 | 5,300 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 39,900 | 46,400 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 48,800 | 53,300 | ||||
Debt issued designated at fair value, undiscounted cash flows | 10,200 | [10] | 10,300 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,100 | 1,500 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 11,300 | 11,900 | |||||
Total financial liabilities, undiscounted cash flows | 60,100 | 65,100 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 300 | 200 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 0 | |||||
Total | [11] | 400 | 200 | ||||
Due between 1 and 5 years | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 500 | 100 | ||||
Payables from securities financing transactions, undiscounted cash flow | 0 | ||||||
Customer deposits, undiscounted cash flow | [1] | 4,400 | 700 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 57,600 | 52,100 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 62,600 | 52,900 | ||||
Debt issued designated at fair value, undiscounted cash flows | 7,400 | [10] | 7,700 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,200 | 1,400 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 8,600 | 9,100 | |||||
Total financial liabilities, undiscounted cash flows | 71,200 | 61,900 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 0 | 100 | ||||
Forward starting transactions | |||||||
Total | [11] | 0 | 100 | ||||
Due after 5 years | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 0 | 0 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 0 | 0 | ||||
Customer deposits, undiscounted cash flow | [1] | 0 | 100 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 37,800 | 39,100 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 37,800 | 39,200 | ||||
Debt issued designated at fair value, undiscounted cash flows | 8,000 | [10] | 6,200 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,000 | 1,000 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 9,000 | 7,300 | |||||
Total financial liabilities, undiscounted cash flows | 46,800 | 46,400 | |||||
Forward starting transactions | |||||||
Total | [11] | 0 | 0 | ||||
UBS AG | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 11,000 | 7,700 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 10,400 | 17,700 | ||||
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 28,900 | 31,000 | ||||
Customer deposits, undiscounted cash flow | [1] | 422,100 | 422,400 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 44,400 | 42,600 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 96,500 | 113,100 | ||||
Other financial liabilities measured at amortized cost, undiscounted cash flows | 6,400 | [1] | 7,675 | 36,800 | [1] | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 619,700 | [1] | 619,465 | 671,400 | [1] | ||
Financial liabilities at fair value held for trading | 28,949 | [3],[4],[5] | 31,251 | 31,251 | [3],[5] | 22,426 | |
Derivative financial instruments | 125,723 | [3],[6],[7],[8],[9] | 119,197 | 119,138 | [3],[6],[7],[8],[9] | $ 151,121 | |
Brokerage payables designated at fair value, undiscounted cash flows | 38,400 | 35,818 | 0 | ||||
Debt issued designated at fair value, undiscounted cash flows | 59,400 | [10] | 50,782 | 50,700 | |||
Other financial liabilities designated at fair value, undiscounted cash flows | 33,700 | 21,851 | 18,800 | ||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 286,200 | $ 258,898 | 219,900 | ||||
Total financial liabilities, undiscounted cash flows | 905,900 | 891,300 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 34,700 | 39,700 | ||||
Guarantees | [11],[12] | 19,800 | 19,300 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 9,000 | 13,000 | ||||
Securities borrowing agreements | [11] | 0 | 0 | ||||
Total | [11] | 63,600 | 72,000 | ||||
Trading portfolio liabilities contractually due within one month | 28,300 | 30,300 | |||||
Trading portfolio liabilities contractually due between one month and one year | 600 | 800 | |||||
Trading portfolio liabilities contractually due between 1 and 5 years | 0 | 100 | |||||
UBS AG | Due within 1 month | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 7,900 | 6,300 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 9,500 | 13,900 | ||||
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 28,900 | 31,000 | ||||
Customer deposits, undiscounted cash flow | [1] | 396,600 | 405,000 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 0 | |||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 4,600 | 4,200 | ||||
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 6,400 | 36,800 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 453,900 | 497,200 | ||||
Financial liabilities at fair value held for trading | [3] | 29,000 | [4] | 31,300 | |||
Derivative financial instruments | [3] | 125,700 | 119,100 | ||||
Brokerage payables designated at fair value, undiscounted cash flows | 38,400 | ||||||
Debt issued designated at fair value, undiscounted cash flows | 15,700 | [10] | 18,300 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 30,000 | 12,400 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 238,800 | 181,100 | |||||
Total financial liabilities, undiscounted cash flows | 692,700 | 678,300 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 34,100 | 39,200 | ||||
Guarantees | [11],[12] | 19,800 | 19,300 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 9,000 | 13,000 | ||||
Securities borrowing agreements | [11] | 0 | 0 | ||||
Total | [11] | 62,900 | 71,500 | ||||
UBS AG | Due between 1 and 3 months | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 1,000 | 400 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 600 | 3,100 | ||||
Customer deposits, undiscounted cash flow | [1] | 13,400 | 11,300 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 0 | 400 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 5,800 | 14,800 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 20,800 | 30,100 | ||||
Debt issued designated at fair value, undiscounted cash flows | 18,100 | [10] | 10,000 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 400 | 600 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 18,500 | 10,600 | |||||
Total financial liabilities, undiscounted cash flows | 39,300 | 40,700 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 300 | 200 | ||||
Guarantees | [11],[12] | 0 | |||||
Forward starting transactions | |||||||
Total | [11] | 300 | 200 | ||||
UBS AG | Due between 3 and 12 months | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 1,600 | 1,000 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 300 | 600 | ||||
Customer deposits, undiscounted cash flow | [1] | 6,900 | 5,200 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 500 | 700 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 39,100 | 45,600 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 48,400 | 53,200 | ||||
Debt issued designated at fair value, undiscounted cash flows | 10,200 | [10] | 8,500 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,100 | 3,400 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 11,300 | 11,900 | |||||
Total financial liabilities, undiscounted cash flows | 59,700 | 65,000 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 300 | 200 | ||||
Forward starting transactions | |||||||
Reverse repurchase agreements | [11],[12] | 0 | |||||
Total | [11] | 400 | 200 | ||||
UBS AG | Due between 1 and 5 years | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 500 | 100 | ||||
Payables from securities financing transactions, undiscounted cash flow | 0 | ||||||
Customer deposits, undiscounted cash flow | [1] | 5,100 | 900 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 21,900 | 21,900 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 34,700 | 35,700 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 62,300 | 58,600 | ||||
Debt issued designated at fair value, undiscounted cash flows | 7,400 | [10] | 7,700 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,200 | 1,400 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 8,600 | 9,100 | |||||
Total financial liabilities, undiscounted cash flows | 70,900 | 67,600 | |||||
Guarantees, commitments and forward starting transactions | |||||||
Loan commitments | [11],[12] | 0 | 100 | ||||
Forward starting transactions | |||||||
Total | [11] | 0 | 100 | ||||
UBS AG | Due after 5 years | |||||||
Financial liabilities recognized on balance sheet | |||||||
Amounts due to banks, undiscounted cash flow | [1] | 0 | 0 | ||||
Payables from securities financing transactions, undiscounted cash flow | [1] | 0 | 0 | ||||
Customer deposits, undiscounted cash flow | [1] | 0 | 0 | ||||
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | [2] | 22,000 | 19,600 | ||||
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 12,400 | 12,800 | ||||
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 34,300 | 32,400 | ||||
Debt issued designated at fair value, undiscounted cash flows | 8,000 | [10] | 6,200 | ||||
Other financial liabilities designated at fair value, undiscounted cash flows | 1,000 | 1,000 | |||||
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 9,000 | 7,300 | |||||
Total financial liabilities, undiscounted cash flows | 43,300 | 39,700 | |||||
Forward starting transactions | |||||||
Total | [11] | $ 0 | $ 0 | ||||
[1] | Except for financial liabilities at fair value held for trading and derivative financial instruments (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments | ||||||
[2] | The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. | ||||||
[3] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[4] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | ||||||
[5] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||
[6] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | ||||||
[7] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | ||||||
[8] | NRV: negative replacement value. | ||||||
[9] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | ||||||
[10] | Future interest payments on variable-rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. | ||||||
[11] | Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. | ||||||
[12] | Loan commitments measured at fair value of USD 3.5 billion, guarantees measured at fair value of USD 1.6 billion and forward starting reverse repurchase agreements measured at fair value of USD 8.1 billion are under the time bucket Due within 1 month. |
Hedge accounting (Narrative) (D
Hedge accounting (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |
Maximum maturity of aggregate principal balances and interest cash flows that are hedged with interest rate swaps | 10 years |
UBS AG | |
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |
Maximum maturity of aggregate principal balances and interest cash flows that are hedged with interest rate swaps | 10 years |
Hedge accounting (Detail 1.1)
Hedge accounting (Detail 1.1) - Fair value hedges - Fair value hedges of interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Hedge Accounting [Line Items] | |||
Nominal amount | [1] | $ 63,816 | |
Derivative financial assets | 27 | $ 49 | |
Derivative financial liabilities | 1 | 2 | |
Hedged items: Debt issued measured at amortized cost | |||
Carrying amount | [1] | 63,785 | |
of which: accumulated amount of fair value hedge adjustment | (298) | ||
UBS AG | |||
Disclosure Of Hedge Accounting [Line Items] | |||
Nominal amount | [1] | 63,816 | |
Derivative financial assets | 27 | 49 | |
Derivative financial liabilities | 1 | $ 2 | |
Hedged items: Debt issued measured at amortized cost | |||
Carrying amount | [1] | 28,139 | |
of which: accumulated amount of fair value hedge adjustment | 282 | ||
Hedged Item Funding From UBS Group And Its Subsidiaries [Abstract] | |||
Carrying amount | [1] | 35,647 | |
of which: accumulated amount of fair value hedge adjustment | $ (580) | ||
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 1.2)
Hedge accounting (Detail 1.2) - Fair value hedges - Interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Gain Loss On Fair Value Hedges Of Interest Rate Risk Recognized In Earnings Line Items | ||||
Changes in fair value of hedging instruments | [1] | $ (341) | $ (16) | $ 166 |
Changes in fair value of hedged items | [1] | 329 | (4) | (170) |
Net gains/(losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments | (11) | (20) | (4) | |
UBS AG | ||||
Gain Loss On Fair Value Hedges Of Interest Rate Risk Recognized In Earnings Line Items | ||||
Changes in fair value of hedging instruments | [1] | (341) | (16) | 166 |
Changes in fair value of hedged items | [1] | 329 | (4) | (170) |
Net gains/(losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments | $ (11) | $ (20) | $ (4) | |
[1] | For prior periods, the amounts included offsetting accrued interest, which did not have any effect on net gains / (losses) related to hedge ineffectiveness. |
Hedge accounting (Detail 2)
Hedge accounting (Detail 2) - Interest rate swaps contract $ in Billions | Dec. 31, 2018USD ($) |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | $ 64 |
Due between 3 and 12 months | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 4 |
Due between 1 and 5 years | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 43 |
Due after 5 years | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 17 |
UBS AG | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 64 |
UBS AG | Due between 3 and 12 months | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 4 |
UBS AG | Due between 1 and 5 years | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | 43 |
UBS AG | Due after 5 years | |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | |
Interest rate swaps | $ 17 |
Hedge accounting (Detail 3.1)
Hedge accounting (Detail 3.1) - Fair value hedges - Portfolio interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Nominal And Carrying Amount Of Fair Value Hedges Of Interest Rate Risk Related To Loans And Advances To Customers Line Items | |||
Nominal amount | [1] | $ 10,318 | |
Derivative financial assets | 0 | $ 0 | |
Derivative financial liabilities | 31 | 33 | |
Hedged items: Loans and advances to customers | |||
Carrying amount | [1] | 10,299 | |
of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting | [2] | 200 | |
of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting | [2] | 89 | |
UBS AG | |||
Nominal And Carrying Amount Of Fair Value Hedges Of Interest Rate Risk Related To Loans And Advances To Customers Line Items | |||
Nominal amount | [1] | 10,318 | |
Derivative financial assets | 0 | 0 | |
Derivative financial liabilities | 31 | $ 33 | |
Hedged items: Loans and advances to customers | |||
Carrying amount | [1] | 10,299 | |
of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting | [2] | 200 | |
of which: accumulated amount of fair value hedge adjustment, subject to amortization attributable to the portion of the portfolio that ceased to be part of hedge accounting | [2] | $ 89 | |
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively | ||
[2] | Amounts presented within Other financial assets measured at amortized cost and Other financial liabilities measured at amortized cost. |
Hedge accounting (Detail 3.2)
Hedge accounting (Detail 3.2) - Fair value hedges - Portfolio interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Gain Loss On Fair Value Hedges Of Interest Rate Risk On Loans And Advances To Customers Recognized In Earnings [Line Items] | ||||
Changes in fair value of hedging instruments | [1] | $ (22) | $ (10) | $ (132) |
Changes in fair value of hedged items | [1] | 16 | 3 | 119 |
Net gains/(losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments | (6) | (7) | (13) | |
UBS AG | ||||
Gain Loss On Fair Value Hedges Of Interest Rate Risk On Loans And Advances To Customers Recognized In Earnings [Line Items] | ||||
Changes in fair value of hedging instruments | [1] | (22) | (10) | (132) |
Changes in fair value of hedged items | [1] | 16 | 3 | 119 |
Net gains/(losses) related to hedge ineffectiveness recognized in Other net income from fair value changes on financial instruments | $ (6) | $ (7) | $ (13) | |
[1] | For prior periods, the amounts included offsetting accrued interest, which had no effect on net gains / (losses) related to hedge ineffectiveness. |
Hedge accounting (Detail 4.1)
Hedge accounting (Detail 4.1) - Cash flow hedges of forecast transactions - Interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | |||
Nominal amount | [1] | $ 70,149 | |
Derivative financial assets | 24 | $ 31 | |
Derivative financial liabilities | 1 | 2 | |
UBS AG | |||
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | |||
Nominal amount | [1] | 70,149 | |
Derivative financial assets | 24 | 31 | |
Derivative financial liabilities | $ 1 | $ 2 | |
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 4.2)
Hedge accounting (Detail 4.2) - Cash flow hedges of forecast transactions - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Gain Loss On Cash Flow Hedges Of Interest Rate Risk Recognized In Earnings [Line Items] | ||||
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | $ (42) | $ 45 | $ 234 | |
Interest Rate Risk [Member] | Hedging instruments: Interest rate swaps | ||||
Gain Loss On Cash Flow Hedges Of Interest Rate Risk Recognized In Earnings [Line Items] | ||||
Changes in fair value of hedging instruments | [1] | 97 | ||
Changes in fair value of hedged items | (73) | |||
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | (42) | 45 | 234 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | 25 | 8 | 11 | |
UBS AG | ||||
Gain Loss On Cash Flow Hedges Of Interest Rate Risk Recognized In Earnings [Line Items] | ||||
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | (42) | 45 | 234 | |
UBS AG | Interest Rate Risk [Member] | Hedging instruments: Interest rate swaps | ||||
Gain Loss On Cash Flow Hedges Of Interest Rate Risk Recognized In Earnings [Line Items] | ||||
Changes in fair value of hedging instruments | [1] | 97 | ||
Changes in fair value of hedged items | (73) | |||
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | (42) | 45 | 234 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | $ 25 | $ 8 | $ 11 | |
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 5)
Hedge accounting (Detail 5) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Other Comprehensive Income Recognized Directly In Equity Related To Cash Flow Hedges [Line Items] | ||||
Translation effects recognized directly in retained earnings | $ 0 | $ 0 | $ 0 | |
Cash flow hedges of forecast transactions | ||||
Other Comprehensive Income Recognized Directly In Equity Related To Cash Flow Hedges [Line Items] | ||||
Balance at the beginning of the year | 360 | 955 | 1,635 | |
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | (42) | 45 | 234 | |
Net realized (gains) / losses reclassified to the income statement from equity | (294) | (843) | (1,094) | |
of which: reclassified to interest income on amortized cost instruments | [1] | (293) | ||
of which: reclassified to interest income on FVTPL instruments | [1] | (1) | ||
Translation effects recognized directly in retained earnings | 18 | 39 | 4 | |
Income tax related to cash flow hedges | 67 | 163 | 176 | |
Balance at the end of the year | 109 | 360 | 955 | |
of which: related to hedging relationships for which hedge accounting continues to be applied | [1],[2] | 74 | ||
of which: amount related to hedging relationships for which hedge accounting is no longer applied | [1],[2] | 73 | ||
UBS AG | ||||
Other Comprehensive Income Recognized Directly In Equity Related To Cash Flow Hedges [Line Items] | ||||
Translation effects recognized directly in retained earnings | 0 | 0 | 0 | |
UBS AG | Cash flow hedges of forecast transactions | ||||
Other Comprehensive Income Recognized Directly In Equity Related To Cash Flow Hedges [Line Items] | ||||
Balance at the beginning of the year | 360 | 955 | 1,635 | |
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | (42) | 45 | 234 | |
Net realized (gains) / losses reclassified to the income statement from equity | (294) | (843) | (1,094) | |
of which: reclassified to interest income on amortized cost instruments | [1] | (293) | ||
of which: reclassified to interest income on FVTPL instruments | [1] | (1) | ||
Translation effects recognized directly in retained earnings | 18 | 39 | 4 | |
Income tax related to cash flow hedges | 67 | 163 | 176 | |
Balance at the end of the year | 109 | $ 360 | $ 955 | |
of which: related to hedging relationships for which hedge accounting continues to be applied | [1],[2] | 74 | ||
of which: amount related to hedging relationships for which hedge accounting is no longer applied | [1],[2] | $ 73 | ||
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively | |||
[2] | Amounts are disclosed on a pre-tax basis. |
Hedge accounting (Detail 6.1)
Hedge accounting (Detail 6.1) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Hedged structural exposures in several currencies | $ 11,500 | $ 8,400 | |
Hedges of net investments in foreign operations | Derivative financial instruments | |||
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Nominal amount | 11,537 | 13,374 | |
Derivative financial assets | 56 | 80 | |
Derivative financial liabilities | 48 | 133 | |
Hedges of net investments in foreign operations | Hedging instruments: Non-derivative foreign currency assets and liabilities | |||
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Nominal amount | 229 | 2,969 | |
Receivables from securities financing transactions | [1] | 115 | |
Payables from securities financing transactions | [1] | 115 | |
UBS AG | |||
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Hedged structural exposures in several currencies | 11,500 | 8,400 | |
UBS AG | Hedges of net investments in foreign operations | Derivative financial instruments | |||
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Nominal amount | 11,432 | 13,237 | |
Derivative financial assets | 56 | 79 | |
Derivative financial liabilities | 45 | 132 | |
UBS AG | Hedges of net investments in foreign operations | Hedging instruments: Non-derivative foreign currency assets and liabilities | |||
Disclosure Of Foreign Operations Hedge Accounting [Line Items] | |||
Nominal amount | 229 | $ 2,970 | |
Receivables from securities financing transactions | [1] | 115 | |
Payables from securities financing transactions | [1] | $ 115 | |
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 6.2)
Hedge accounting (Detail 6.2) - Hedges of net investments in foreign operations - Currency swap contract $ in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($) | [1] | |
Gain Loss On Cash Flow Hedges Of Forecast Transactions Recognized In Earnings [Line Items] | ||
Changes in fair value of hedging instruments | $ 205 | |
Changes in fair value of hedged items | (205) | |
Effective portion of changes in fair value of hedging instruments recognised in Foreign currency translation OCI | 181 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | 24 | |
UBS AG | ||
Gain Loss On Cash Flow Hedges Of Forecast Transactions Recognized In Earnings [Line Items] | ||
Changes in fair value of hedging instruments | 199 | |
Changes in fair value of hedged items | (199) | |
Effective portion of changes in fair value of hedging instruments recognised in Foreign currency translation OCI | 181 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | $ 18 | |
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 7)
Hedge accounting (Detail 7) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Foreign Currency Translation Reserve [Line Items] | ||||
Foreign currency translation reserve | $ 3,924 | $ 4,466 | $ 2,901 | |
of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries | 777 | |||
of which: for which hedge accounting continues to be applied | [1] | 521 | ||
of which: for which hedge accounting is no longer applied | [1] | 255 | ||
Effective portion of changes in fair value of hedging instruments reclassified to other income upon disposal of investment | [1] | 2 | ||
UBS AG | ||||
Foreign Currency Translation Reserve [Line Items] | ||||
Foreign currency translation reserve | 3,940 | $ 4,455 | $ 2,933 | |
of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries | [1] | 770 | ||
of which: for which hedge accounting continues to be applied | [1] | 515 | ||
of which: for which hedge accounting is no longer applied | [1] | 255 | ||
Effective portion of changes in fair value of hedging instruments reclassified to other income upon disposal of investment | [1] | $ 2 | ||
[1] | This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. |
Hedge accounting (Detail 8)
Hedge accounting (Detail 8) - FX swaps / forwards $ in Billions | Dec. 31, 2018USD ($) | [1] |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | $ 11 | |
Cash outflows | 11 | |
Net cash flows | 0 | |
On demand | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
Due within 1 month | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 9 | |
Cash outflows | 9 | |
Net cash flows | 0 | |
Due between 1 and 3 months | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 2 | |
Cash outflows | 2 | |
Net cash flows | 0 | |
Due between 3 and 12 months | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
Due between 1 and 5 years | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
Due after 5 years | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
UBS AG | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 11 | |
Cash outflows | 11 | |
Net cash flows | 0 | |
UBS AG | On demand | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
UBS AG | Due within 1 month | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 9 | |
Cash outflows | 9 | |
Net cash flows | 0 | |
UBS AG | Due between 1 and 3 months | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 2 | |
Cash outflows | 2 | |
Net cash flows | 0 | |
UBS AG | Due between 3 and 12 months | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
UBS AG | Due between 1 and 5 years | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | 0 | |
UBS AG | Due after 5 years | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 0 | |
Cash outflows | 0 | |
Net cash flows | $ 0 | |
[1] | Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2018 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
Pension and other post-employ_3
Pension and other post-employment benefit plans (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | $ 188 | $ 481 | $ 440 | |
Expenses for defined contribution plans | 268 | 243 | 238 | |
Total pension and other post-employment benefit plan expenses | [1] | 457 | 723 | 678 |
Reduction of net periodic pension expenses due to changes in Swiss pension plan at announcement | 241 | |||
of which: UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 80 | 72 | 78 | |
of which: US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 127 | 110 | 107 | |
of which: remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 61 | 61 | 53 | |
of which: related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 186 | 460 | 417 | |
of which: Swiss plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [2] | 153 | 414 | 386 |
Reduction in net periodic pension expenses due to the decrease in benefits based on changes in Swiss pension plan | 59 | |||
of which: UK plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 11 | 15 | (2) | |
of which: US and German plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 22 | 31 | 34 | |
of which: related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | (11) | 3 | 4 | |
of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 1 | 1 | 1 | |
of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | (12) | 2 | 3 | |
of which: related to remaining plans and other expenses | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [3] | 13 | 17 | 19 |
UBS AG | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 140 | 365 | 438 | |
Expenses for defined contribution plans | 223 | 236 | 238 | |
Total pension and other post-employment benefit plan expenses | [4] | 363 | 601 | 677 |
Reduction of net periodic pension expenses due to changes in Swiss pension plan at announcement | 132 | |||
UBS AG | of which: UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 35 | 65 | 78 | |
UBS AG | of which: US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 127 | 110 | 107 | |
UBS AG | of which: remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 61 | 61 | 53 | |
UBS AG | of which: related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 141 | 354 | 417 | |
UBS AG | of which: Swiss plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [2] | 108 | 307 | 386 |
Reduction in net periodic pension expenses due to the decrease in benefits based on changes in Swiss pension plan | 59 | |||
UBS AG | of which: UK plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 11 | 15 | (2) | |
UBS AG | of which: US and German plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 22 | 31 | 34 | |
UBS AG | of which: related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | (11) | 3 | 4 | |
UBS AG | of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 1 | 1 | 1 | |
UBS AG | of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | (12) | 2 | 3 | |
UBS AG | of which: related to remaining plans and other expenses | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [3] | $ 10 | $ 8 | $ 17 |
[1] | Changes to the pension fund of UBS in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of USD 241 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. | |||
[2] | Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 241 million related to past service. Refer to Note 29a for more information on these changes. | |||
[3] | Other expenses include differences between actual and estimated performance award accruals. | |||
[4] | Changes to the pension fund of UBS AG in Switzerland in 2018 resulted in a reduction in the pension obligation recognized by UBS AG. As a consequence, a pre-tax gain of USD 132 million was recognized in the income statement in 2018, with no overall effect on total equity. Refer to Note 29 for more information. |
Pension and other post-employ_4
Pension and other post-employment benefit plans (Detail 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ (220) | $ 286 | $ (880) |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | 276 | 11 | 51 |
Gains / (losses) recognized in other comprehensive income, net of tax | 56 | 296 | (829) |
Major pension plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (230) | 253 | (842) |
of which: Swiss plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (352) | (79) | (94) |
of which: UK plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 130 | 304 | (623) |
of which: US and German plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (8) | 28 | (126) |
Post-employment medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 7 | 1 | (13) |
of which: UK medical insurance plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 3 | 1 | (5) |
of which: US medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 4 | 0 | (7) |
Remaining plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 3 | 31 | (26) |
UBS AG | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (70) | 308 | (880) |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | 245 | 6 | 51 |
Gains / (losses) recognized in other comprehensive income, net of tax | 175 | 314 | (829) |
UBS AG | Major pension plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (79) | 276 | (842) |
UBS AG | of which: Swiss plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (201) | (56) | (94) |
UBS AG | of which: UK plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 130 | 304 | (623) |
UBS AG | of which: US and German plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (8) | 28 | (126) |
UBS AG | Post-employment medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 7 | 1 | (13) |
UBS AG | of which: UK medical insurance plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 3 | 1 | (5) |
UBS AG | of which: US medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | 4 | 0 | (7) |
UBS AG | Remaining plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ 3 | $ 31 | $ (26) |
Pension and other post-employ_5
Pension and other post-employment benefit plans (Detail 3) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | $ 775 | $ 949 | |
Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 671 | 825 | |
of which: Swiss plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 0 | 0 | |
of which: UK plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 160 | 275 | |
of which: US and German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [1] | 511 | 550 |
US plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 137 | 153 | |
German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 374 | 398 | |
Post-employment medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 62 | 88 | |
of which: UK medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 22 | 27 | |
of which: US medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 40 | 61 | |
Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 42 | 36 | |
UBS AG | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 773 | 948 | |
UBS AG | Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 671 | 825 | |
UBS AG | of which: Swiss plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 0 | 0 | |
UBS AG | of which: UK plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 160 | 275 | |
UBS AG | of which: US and German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [2] | 511 | 550 |
UBS AG | US plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 137 | 153 | |
UBS AG | German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 374 | 398 | |
UBS AG | Post-employment medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 62 | 88 | |
UBS AG | of which: UK medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 22 | 27 | |
UBS AG | of which: US medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 40 | 61 | |
UBS AG | Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | $ 40 | $ 35 | |
[1] | Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). | ||
[2] | Of the total liability recognized as of 31 December 2018, USD 137 million related to US plans and USD 374 million related to German plans (31 December 2017: USD 153 million and USD 398 million, respectively). |
Pension and other post-employ_6
Pension and other post-employment benefit plans (Narrative) (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)yr | Dec. 31, 2017USD ($) | ||
Major pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | $ 556 | $ 585 | |
Plan assets | $ 30,039 | $ 31,390 | |
Swiss pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 0.00% | 0.00% | |
Normal retirement age | yr | 64 | ||
Minimum age required to draw early retirement benefits | yr | 58 | ||
Technical funding ratio | 124.20% | 131.90% | |
Limit for investments in equities | 50.00% | ||
Employer contributions expected for the next year | $ 454 | ||
Employer contributions | 505 | $ 485 | |
Plan assets | [1] | 25,839 | 26,656 |
Minimum commitment toward the pension fund under the related leases | $ 17 | 5 | |
Maximum period to restore full funding in case an underfunded situation occurs | 10 years | ||
Maximum obligation from the employer on the additional contributions required if a Swiss pension plan were to become significantly underfunded | 50.00% | ||
Increased normal retirement age starting next period | 65 | ||
Decreased normal starting age for pension fund savings contributions starting next period | 20 | ||
Normal starting age for pension fund savings contributions | 25 | ||
Reduction in net periodic pension expenses due to the decrease in benefits based on changes in Swiss pension plan | $ 59 | ||
Reduction of equity expected from additional employer contributions to be paid to pension plan | 210 | ||
Swiss pension plan | 2020-2022 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Additional employer contributions expected to be paid to employees retirement assets | 734 | ||
Swiss pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (776) | (165) | |
Swiss pension plan | Market-driven changes in the assumed interest credit rate on retirement savings | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | $ 124 | 26 | |
Swiss pension plan | Maximum | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 13.50% | ||
Employee contributions on contributory variable compensation (as a percent) | 9.00% | ||
Employer contributions on contributory base salary (as a percent) | 27.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 9.00% | ||
Increased employee contributions on contributory base salary (as a percent) from the beginning of next period | 13.50% | ||
Swiss pension plan | Minimum | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 1.00% | ||
Employee contributions on contributory variable compensation (as a percent) | 0.00% | ||
Employer contributions on contributory base salary (as a percent) | 6.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 3.60% | ||
Increased employee contributions on contributory base salary (as a percent) from the beginning of next period | 2.50% | ||
UK pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 60 | ||
Employer contributions | $ 0 | 0 | |
Plan assets | 3,032 | 3,469 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 4 | ||
UK pension plan | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | 26 | ||
Collateral pool established for pension fund | 574 | ||
Total contributions expected for the next year | 128 | ||
UK pension plan | 2020 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | 13 | ||
UK pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 219 | 102 | |
UK pension plan | Market-driven changes in the inflation rates | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 60 | ||
UK pension plan | Impact of change in actuarial assumption of the pension increase | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 37 | ||
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 51 | 100 | |
Plan assets | $ 1,168 | 1,265 | |
US pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | $ 42 | 92 | |
Number of plans | 2 | ||
Plan assets | $ 1,168 | 1,265 | |
US pension plans | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 9 | ||
German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Number of plans | 2 | ||
German plans | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 11 | ||
German pension plans - Larger | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 5.00% | ||
German pension plans - Smaller | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 0.90% | ||
German pension plans - Smaller | 2009 and before | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 6.00% | ||
German pension plans - Smaller | 2010-2017 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 4.00% | ||
Medical Insurance Plans [Member] | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 5 | ||
UBS AG | Major pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 360 | 456 | |
Plan assets | $ 19,972 | $ 21,122 | |
UBS AG | Swiss pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 0.00% | 0.00% | |
Normal retirement age | yr | 64 | ||
Minimum age required to draw early retirement benefits | yr | 58 | ||
Technical funding ratio | 124.20% | 131.90% | |
Limit for investments in equities | 50.00% | ||
Employer contributions expected for the next year | $ 275 | ||
Employer contributions | 308 | $ 356 | |
Plan assets | [2] | 15,772 | 16,388 |
Minimum commitment toward the pension fund under the related leases | $ 10 | 5 | |
Maximum period to restore full funding in case an underfunded situation occurs | 10 years | ||
Maximum obligation from the employer on the additional contributions required if a Swiss pension plan were to become significantly underfunded | 50.00% | ||
Increased normal retirement age starting next period | 65 | ||
Decreased normal starting age for pension fund savings contributions starting next period | 20 | ||
Normal starting age for pension fund savings contributions | 25 | ||
Reduction in net periodic pension expenses due to the decrease in benefits based on changes in Swiss pension plan | $ 59 | ||
Reduction of equity expected from additional employer contributions to be paid to pension plan | 130 | ||
UBS AG | Swiss pension plan | 2020-2022 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Additional employer contributions expected to be paid to employees retirement assets | 448 | ||
UBS AG | Swiss pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 478 | (159) | |
UBS AG | Swiss pension plan | Market-driven changes in the assumed interest credit rate on retirement savings | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | $ (77) | 25 | |
UBS AG | Swiss pension plan | Maximum | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 13.50% | ||
Employee contributions on contributory variable compensation (as a percent) | 9.00% | ||
Employer contributions on contributory base salary (as a percent) | 27.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 9.00% | ||
Increased employee contributions on contributory base salary (as a percent) from the beginning of next period | 13.50% | ||
UBS AG | Swiss pension plan | Minimum | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 1.00% | ||
Employee contributions on contributory variable compensation (as a percent) | 0.00% | ||
Employer contributions on contributory base salary (as a percent) | 6.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 3.60% | ||
Increased employee contributions on contributory base salary (as a percent) from the beginning of next period | 2.50% | ||
UBS AG | UK pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 60 | ||
Employer contributions | $ 0 | 0 | |
Plan assets | 3,032 | 3,469 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 4 | ||
UBS AG | UK pension plan | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | 26 | ||
Collateral pool established for pension fund | 574 | ||
Total contributions expected for the next year | 128 | ||
UBS AG | UK pension plan | 2020 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | 13 | ||
UBS AG | UK pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 219 | (102) | |
UBS AG | UK pension plan | Market-driven changes in the inflation rates | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 60 | ||
UBS AG | UK pension plan | Impact of change in actuarial assumption of the pension increase | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 37 | ||
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 51 | 100 | |
Plan assets | $ 1,168 | 1,265 | |
UBS AG | US pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | $ 42 | 92 | |
Number of plans | 2 | ||
Plan assets | $ 1,168 | $ 1,265 | |
UBS AG | US pension plans | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 9 | ||
UBS AG | German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Number of plans | 2 | ||
UBS AG | German plans | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 11 | ||
UBS AG | German pension plans - Larger | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 5.00% | ||
UBS AG | German pension plans - Smaller | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 0.90% | ||
UBS AG | German pension plans - Smaller | 2009 and before | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 6.00% | ||
UBS AG | German pension plans - Smaller | 2010-2017 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 4.00% | ||
UBS AG | Medical Insurance Plans [Member] | 2019 | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | $ 5 | ||
[1] | Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. | ||
[2] | Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. |
Defined benefit plans (Detail 4
Defined benefit plans (Detail 4.1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Total | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | $ (825) | $ (1,120) | |
Remeasurement of defined benefit obligation | 577 | (295) | |
Past service cost related to plan amendments | 237 | 0 | |
Other movements | 0 | 8 | |
Return on plan assets excluding amounts included in interest income | (736) | 1,965 | |
Employer contributions | 556 | 585 | |
Foreign currency translation | 14 | (91) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (71) | (1,417) | |
At the end of the year | (671) | (825) | |
Total | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 28,978 | 27,830 | |
Current service cost | 413 | 465 | |
Interest expense | 299 | 331 | |
Plan participant contributions | 218 | 208 | |
Remeasurement of defined benefit obligation | (577) | 295 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (23) | (81) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (964) | 271 | |
of which: experience (gains) / losses | [1] | 410 | 105 |
Past service cost related to plan amendments | (237) | 0 | |
Curtailments | (20) | (50) | |
Benefit payments | (1,268) | (1,487) | |
Other movements | 0 | (8) | |
Foreign currency translation | (369) | 1,395 | |
At the end of the year | 27,437 | 28,978 | |
Total | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 31,390 | 28,428 | |
Plan participant contributions | 218 | 208 | |
Benefit payments | (1,268) | (1,487) | |
Return on plan assets excluding amounts included in interest income | (736) | 1,965 | |
Interest income | 306 | 313 | |
Employer contributions | 556 | 585 | |
Administration expenses, taxes and premiums paid | (14) | (15) | |
Foreign currency translation | (412) | 1,392 | |
At the end of the year | 30,039 | 31,390 | |
Total | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,237 | 1,718 | |
Other movements | 0 | 8 | |
Foreign currency translation | (58) | 89 | |
Interest expense on asset ceiling effect | 23 | 13 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 71 | 1,417 | |
At the end of the year | 3,274 | 3,237 | |
Total | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 11,176 | ||
At the end of the year | 10,823 | 11,176 | |
Total | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 2,575 | ||
At the end of the year | 2,040 | 2,575 | |
Total | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 15,228 | ||
At the end of the year | 14,574 | 15,228 | |
Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Remeasurement of defined benefit obligation | 242 | (301) | |
Past service cost related to plan amendments | 241 | 0 | |
Other movements | 0 | 8 | |
Return on plan assets excluding amounts included in interest income | (523) | 1,640 | |
Employer contributions | 505 | 485 | |
Foreign currency translation | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (71) | (1,417) | |
At the end of the year | 0 | 0 | |
Swiss plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 23,419 | 22,465 | |
Current service cost | 405 | 456 | |
Interest expense | 151 | 166 | |
Plan participant contributions | 218 | 208 | |
Remeasurement of defined benefit obligation | (242) | 301 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 6 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (639) | 141 | |
of which: experience (gains) / losses | [1] | 397 | 154 |
Past service cost related to plan amendments | (241) | 0 | |
Curtailments | (20) | (50) | |
Benefit payments | (954) | (1,121) | |
Other movements | 0 | (8) | |
Foreign currency translation | (170) | 1,001 | |
At the end of the year | 22,566 | 23,419 | |
Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 26,656 | 24,184 | |
Plan participant contributions | 218 | 208 | |
Benefit payments | (954) | (1,121) | |
Return on plan assets excluding amounts included in interest income | (523) | 1,640 | |
Interest income | 177 | 181 | |
Employer contributions | 505 | 485 | |
Administration expenses, taxes and premiums paid | (11) | (10) | |
Foreign currency translation | (228) | 1,090 | |
At the end of the year | 25,839 | 26,656 | |
Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,237 | 1,718 | |
Other movements | 0 | 8 | |
Foreign currency translation | (58) | 89 | |
Interest expense on asset ceiling effect | 23 | 13 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 71 | 1,417 | |
At the end of the year | 3,274 | 3,237 | |
Swiss plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 10,741 | ||
At the end of the year | 10,452 | 10,741 | |
Swiss plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
Swiss plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 12,678 | ||
At the end of the year | 12,114 | 12,678 | |
UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (275) | (519) | |
Remeasurement of defined benefit obligation | 266 | 88 | |
Past service cost related to plan amendments | (4) | 0 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Employer contributions | 0 | 0 | |
Foreign currency translation | (4) | (45) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | (160) | (275) | |
UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,744 | 3,639 | |
Current service cost | 0 | 0 | |
Interest expense | 93 | 102 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | (266) | (88) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (18) | (82) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (257) | 44 | |
of which: experience (gains) / losses | [1] | 8 | (50) |
Past service cost related to plan amendments | 4 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (202) | (256) | |
Other movements | 0 | 0 | |
Foreign currency translation | (181) | 347 | |
At the end of the year | 3,192 | 3,744 | |
UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,469 | 3,120 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (202) | (256) | |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Interest income | 86 | 88 | |
Employer contributions | 0 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | (185) | 302 | |
At the end of the year | 3,032 | 3,469 | |
UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UK plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 180 | ||
At the end of the year | 146 | 180 | |
UK plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,930 | ||
At the end of the year | 1,434 | 1,930 | |
UK plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,634 | ||
At the end of the year | 1,612 | 1,634 | |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (550) | (601) | |
Remeasurement of defined benefit obligation | 69 | (82) | |
Past service cost related to plan amendments | 0 | 0 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Employer contributions | 51 | 100 | |
Foreign currency translation | 18 | (47) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | (511) | (550) | |
US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,816 | 1,725 | |
Current service cost | 7 | 9 | |
Interest expense | 55 | 63 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | (69) | 82 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (5) | (5) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (69) | 86 | |
of which: experience (gains) / losses | [1] | 5 | 2 |
Past service cost related to plan amendments | 0 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (112) | (109) | |
Other movements | 0 | 0 | |
Foreign currency translation | (18) | 47 | |
At the end of the year | 1,679 | 1,816 | |
US and German plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,265 | 1,124 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (112) | (109) | |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Interest income | 44 | 44 | |
Employer contributions | 51 | 100 | |
Administration expenses, taxes and premiums paid | (3) | (4) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 1,168 | 1,265 | |
US and German plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
US and German plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 255 | ||
At the end of the year | 226 | 255 | |
US and German plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 645 | ||
At the end of the year | 606 | 645 | |
US and German plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 916 | ||
At the end of the year | 847 | 916 | |
UBS AG | Total | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (825) | (1,120) | |
Remeasurement of defined benefit obligation | 598 | (40) | |
Past service cost related to plan amendments | 128 | 0 | |
Other movements | 0 | 8 | |
Return on plan assets excluding amounts included in interest income | (647) | 1,329 | |
Employer contributions | 360 | 456 | |
Foreign currency translation | 14 | (91) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (30) | (1,013) | |
At the end of the year | (671) | (825) | |
UBS AG | Total | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 19,957 | 27,830 | |
Current service cost | 258 | 338 | |
Interest expense | 241 | 284 | |
Plan participant contributions | 137 | 157 | |
Remeasurement of defined benefit obligation | (598) | 40 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (23) | (84) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (716) | 265 | |
of which: experience (gains) / losses | [1] | 142 | (140) |
Past service cost related to plan amendments | (128) | 0 | |
Curtailments | (17) | (28) | |
Benefit payments | (900) | (1,147) | |
Other movements | [2] | 0 | (8,728) |
Foreign currency translation | (307) | 1,211 | |
At the end of the year | 18,645 | 19,957 | |
UBS AG | Total | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 21,122 | 28,428 | |
Plan participant contributions | 137 | 157 | |
Benefit payments | (900) | (1,147) | |
Other movements | [2] | 0 | (9,541) |
Return on plan assets excluding amounts included in interest income | (647) | 1,329 | |
Interest income | 238 | 262 | |
Employer contributions | 360 | 456 | |
Administration expenses, taxes and premiums paid | (10) | (12) | |
Foreign currency translation | (328) | 1,191 | |
At the end of the year | 19,972 | 21,122 | |
UBS AG | Total | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,990 | 1,718 | |
Other movements | [2] | 0 | (821) |
Foreign currency translation | (36) | 71 | |
Interest expense on asset ceiling effect | 14 | 9 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 30 | 1,013 | |
At the end of the year | 1,998 | 1,990 | |
UBS AG | Total | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 7,038 | ||
At the end of the year | 6,751 | 7,038 | |
UBS AG | Total | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 2,575 | ||
At the end of the year | 2,040 | 2,575 | |
UBS AG | Total | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 10,344 | ||
At the end of the year | 9,854 | 10,344 | |
UBS AG | Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Remeasurement of defined benefit obligation | 263 | (47) | |
Past service cost related to plan amendments | 132 | 0 | |
Other movements | 0 | 8 | |
Return on plan assets excluding amounts included in interest income | (434) | 1,003 | |
Employer contributions | 308 | 356 | |
Foreign currency translation | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (30) | (1,013) | |
At the end of the year | 0 | 0 | |
UBS AG | Swiss plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 14,398 | 22,465 | |
Current service cost | 251 | 330 | |
Interest expense | 93 | 119 | |
Plan participant contributions | 137 | 157 | |
Remeasurement of defined benefit obligation | (263) | 47 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 4 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (391) | 135 | |
of which: experience (gains) / losses | [1] | 128 | (92) |
Past service cost related to plan amendments | (132) | 0 | |
Curtailments | (17) | (28) | |
Benefit payments | (586) | (782) | |
Other movements | [2] | 0 | (8,728) |
Foreign currency translation | (108) | 818 | |
At the end of the year | 13,774 | 14,398 | |
UBS AG | Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 16,388 | 24,184 | |
Plan participant contributions | 137 | 157 | |
Benefit payments | (586) | (782) | |
Other movements | [2] | 0 | (9,541) |
Return on plan assets excluding amounts included in interest income | (434) | 1,003 | |
Interest income | 109 | 130 | |
Employer contributions | 308 | 356 | |
Administration expenses, taxes and premiums paid | (7) | (7) | |
Foreign currency translation | (144) | 889 | |
At the end of the year | 15,772 | 16,388 | |
UBS AG | Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,990 | 1,718 | |
Other movements | [2] | 0 | (821) |
Foreign currency translation | (36) | 71 | |
Interest expense on asset ceiling effect | 14 | 9 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 30 | 1,013 | |
At the end of the year | 1,998 | 1,990 | |
UBS AG | Swiss plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 6,604 | ||
At the end of the year | 6,380 | 6,604 | |
UBS AG | Swiss plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | Swiss plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 7,794 | ||
At the end of the year | 7,394 | 7,794 | |
UBS AG | UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (275) | (519) | |
Remeasurement of defined benefit obligation | 266 | 88 | |
Past service cost related to plan amendments | (4) | 0 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Employer contributions | 0 | 0 | |
Foreign currency translation | (4) | (45) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | (160) | (275) | |
UBS AG | UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,744 | 3,639 | |
Current service cost | 0 | 0 | |
Interest expense | 93 | 102 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | (266) | (88) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (18) | (82) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (257) | 44 | |
of which: experience (gains) / losses | [1] | 8 | (50) |
Past service cost related to plan amendments | 4 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (202) | (256) | |
Other movements | [2] | 0 | 0 |
Foreign currency translation | (181) | 347 | |
At the end of the year | 3,192 | 3,744 | |
UBS AG | UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,469 | 3,120 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (202) | (256) | |
Other movements | [2] | 0 | 0 |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Interest income | 86 | 88 | |
Employer contributions | 0 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | (185) | 302 | |
At the end of the year | 3,032 | 3,469 | |
UBS AG | UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | [2] | 0 | 0 |
Foreign currency translation | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 180 | ||
At the end of the year | 146 | 180 | |
UBS AG | UK plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,930 | ||
At the end of the year | 1,434 | 1,930 | |
UBS AG | UK plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,634 | ||
At the end of the year | 1,612 | 1,634 | |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (550) | (601) | |
Remeasurement of defined benefit obligation | 69 | (82) | |
Past service cost related to plan amendments | 0 | 0 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Employer contributions | 51 | 100 | |
Foreign currency translation | 18 | (47) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | (511) | (550) | |
UBS AG | US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,816 | 1,725 | |
Current service cost | 7 | 9 | |
Interest expense | 55 | 63 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | (69) | 82 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (5) | (5) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (69) | 86 | |
of which: experience (gains) / losses | [1] | 5 | 2 |
Past service cost related to plan amendments | 0 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (112) | (109) | |
Other movements | [2] | 0 | 0 |
Foreign currency translation | (18) | 47 | |
At the end of the year | 1,679 | 1,816 | |
UBS AG | US and German plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,265 | 1,124 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (112) | (109) | |
Other movements | [2] | 0 | 0 |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Interest income | 44 | 44 | |
Employer contributions | 51 | 100 | |
Administration expenses, taxes and premiums paid | (3) | (4) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 1,168 | 1,265 | |
UBS AG | US and German plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | [2] | 0 | 0 |
Foreign currency translation | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UBS AG | US and German plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 255 | ||
At the end of the year | 226 | 255 | |
UBS AG | US and German plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 645 | ||
At the end of the year | 606 | 645 | |
UBS AG | US and German plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 916 | ||
At the end of the year | $ 847 | $ 916 | |
[1] | Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. | ||
[2] | Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. |
Defined benefit plans (Detail_2
Defined benefit plans (Detail 4.2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
Amounts recognized in other comprehensive income | $ (220) | $ 286 | $ (880) |
Total | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (825) | (1,120) | |
Net periodic expenses recognized in net profit | (186) | (460) | |
Amounts recognized in other comprehensive income | (230) | 253 | (842) |
Employer contributions | 556 | 585 | |
Other movements | 0 | 8 | |
Foreign currency translation | 14 | (91) | |
At the end of the year | (671) | (825) | (1,120) |
Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Net periodic expenses recognized in net profit | (153) | (414) | |
Amounts recognized in other comprehensive income | (352) | (79) | (94) |
Employer contributions | 505 | 485 | |
Other movements | 0 | 8 | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 0 | 0 | 0 |
UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (275) | (519) | |
Net periodic expenses recognized in net profit | (11) | (15) | |
Amounts recognized in other comprehensive income | 130 | 304 | (623) |
Employer contributions | 0 | 0 | |
Other movements | 0 | 0 | |
Foreign currency translation | (4) | (45) | |
At the end of the year | (160) | (275) | (519) |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (550) | (601) | |
Net periodic expenses recognized in net profit | (22) | (31) | |
Amounts recognized in other comprehensive income | (8) | 28 | (126) |
Employer contributions | 51 | 100 | |
Other movements | 0 | 0 | |
Foreign currency translation | 18 | (47) | |
At the end of the year | (511) | (550) | (601) |
UBS AG | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
Amounts recognized in other comprehensive income | (70) | 308 | (880) |
UBS AG | Total | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (825) | (1,120) | |
Net periodic expenses recognized in net profit | (141) | (354) | |
Amounts recognized in other comprehensive income | (79) | 276 | (842) |
Employer contributions | 360 | 456 | |
Other movements | 0 | 8 | |
Foreign currency translation | 14 | (91) | |
At the end of the year | (671) | (825) | (1,120) |
UBS AG | Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Net periodic expenses recognized in net profit | (108) | (307) | |
Amounts recognized in other comprehensive income | (201) | (56) | (94) |
Employer contributions | 308 | 356 | |
Other movements | 0 | 8 | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 0 | 0 | 0 |
UBS AG | UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (275) | (519) | |
Net periodic expenses recognized in net profit | (11) | (15) | |
Amounts recognized in other comprehensive income | 130 | 304 | (623) |
Employer contributions | 0 | 0 | |
Other movements | 0 | 0 | |
Foreign currency translation | (4) | (45) | |
At the end of the year | (160) | (275) | (519) |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (550) | (601) | |
Net periodic expenses recognized in net profit | (22) | (31) | |
Amounts recognized in other comprehensive income | (8) | 28 | (126) |
Employer contributions | 51 | 100 | |
Other movements | 0 | 0 | |
Foreign currency translation | 18 | (47) | |
At the end of the year | $ (511) | $ (550) | $ (601) |
Defined benefit plans (Detail_3
Defined benefit plans (Detail 4.3) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | $ 26,976 | $ 28,487 | ||
Defined benefit obligation from unfunded plans | 460 | 492 | ||
Plan assets | 30,039 | 31,390 | ||
Surplus / (deficit) | 2,603 | 2,412 | ||
Asset ceiling effect | 3,274 | 3,237 | ||
Net defined benefit asset / (liability) | (671) | (825) | $ (1,120) | |
Swiss plan | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 22,566 | 23,419 | ||
Defined benefit obligation from unfunded plans | 0 | 0 | ||
Plan assets | [1] | 25,839 | 26,656 | |
Surplus / (deficit) | 3,274 | 3,237 | ||
Asset ceiling effect | 3,274 | 3,237 | ||
Net defined benefit asset / (liability) | 0 | 0 | 0 | |
UK plan | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 3,192 | 3,744 | ||
Defined benefit obligation from unfunded plans | 0 | 0 | ||
Plan assets | 3,032 | 3,469 | ||
Surplus / (deficit) | (160) | (275) | ||
Asset ceiling effect | 0 | 0 | ||
Net defined benefit asset / (liability) | (160) | (275) | (519) | |
US and German plans | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 1,219 | 1,324 | ||
Defined benefit obligation from unfunded plans | 460 | 492 | ||
Plan assets | 1,168 | 1,265 | ||
Surplus / (deficit) | (511) | (550) | ||
Asset ceiling effect | 0 | 0 | ||
Net defined benefit asset / (liability) | (511) | (550) | (601) | |
UBS AG | Total | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 18,184 | 19,466 | ||
Defined benefit obligation from unfunded plans | 460 | 492 | ||
Plan assets | 19,972 | 21,122 | ||
Surplus / (deficit) | 1,327 | 1,165 | ||
Asset ceiling effect | 1,998 | 1,990 | ||
Net defined benefit asset / (liability) | (671) | (825) | (1,120) | |
UBS AG | Swiss plan | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 13,774 | 14,398 | ||
Defined benefit obligation from unfunded plans | 0 | 0 | ||
Plan assets | [2] | 15,772 | 16,388 | |
Surplus / (deficit) | 1,998 | 1,990 | ||
Asset ceiling effect | 1,998 | 1,990 | ||
Net defined benefit asset / (liability) | 0 | 0 | 0 | |
UBS AG | UK plan | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 3,192 | 3,744 | ||
Defined benefit obligation from unfunded plans | 0 | 0 | ||
Plan assets | 3,032 | 3,469 | ||
Surplus / (deficit) | (160) | (275) | ||
Asset ceiling effect | 0 | 0 | ||
Net defined benefit asset / (liability) | (160) | (275) | (519) | |
UBS AG | US and German plans | ||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | ||||
Defined benefit obligation from funded plans | 1,219 | 1,324 | ||
Defined benefit obligation from unfunded plans | 460 | 492 | ||
Plan assets | 1,168 | 1,265 | ||
Surplus / (deficit) | (511) | (550) | ||
Asset ceiling effect | 0 | 0 | ||
Net defined benefit asset / (liability) | $ (511) | $ (550) | $ (601) | |
[1] | Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. | |||
[2] | Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. |
Defined benefit plans (Detail 5
Defined benefit plans (Detail 5.1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | $ 188 | $ 481 | $ 440 | |
Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 413 | 465 | ||
Interest expense related to defined benefit obligation | 299 | 331 | ||
Interest income related to plan assets | (306) | (313) | ||
Interest expense on asset ceiling effect | 23 | 13 | ||
Administration expenses, taxes and premiums paid | 14 | 15 | ||
Past service cost related to plan amendments | (237) | 0 | ||
Curtailments | (20) | (50) | ||
Net periodic expenses recognized in net profit | 186 | 460 | 417 | |
Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 405 | 456 | ||
Interest expense related to defined benefit obligation | 151 | 166 | ||
Interest income related to plan assets | (177) | (181) | ||
Interest expense on asset ceiling effect | 23 | 13 | ||
Administration expenses, taxes and premiums paid | 11 | 10 | ||
Past service cost related to plan amendments | (241) | 0 | ||
Curtailments | (20) | (50) | ||
Net periodic expenses recognized in net profit | [1] | 153 | 414 | 386 |
UK plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to defined benefit obligation | 93 | 102 | ||
Interest income related to plan assets | (86) | (88) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Past service cost related to plan amendments | 4 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 11 | 15 | (2) | |
US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 7 | 9 | ||
Interest expense related to defined benefit obligation | 55 | 63 | ||
Interest income related to plan assets | (44) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 3 | 4 | ||
Past service cost related to plan amendments | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 22 | 31 | 34 | |
UBS AG | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | 140 | 365 | 438 | |
UBS AG | Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 258 | 338 | ||
Interest expense related to defined benefit obligation | 241 | 284 | ||
Interest income related to plan assets | (238) | (262) | ||
Interest expense on asset ceiling effect | 14 | 9 | ||
Administration expenses, taxes and premiums paid | 10 | 12 | ||
Past service cost related to plan amendments | (128) | 0 | ||
Curtailments | (17) | (28) | ||
Net periodic expenses recognized in net profit | 141 | 354 | 417 | |
UBS AG | Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 251 | 330 | ||
Interest expense related to defined benefit obligation | 93 | 119 | ||
Interest income related to plan assets | (109) | (130) | ||
Interest expense on asset ceiling effect | 14 | 9 | ||
Administration expenses, taxes and premiums paid | 7 | 7 | ||
Past service cost related to plan amendments | (132) | 0 | ||
Curtailments | (17) | (28) | ||
Net periodic expenses recognized in net profit | [1] | 108 | 307 | 386 |
UBS AG | UK plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to defined benefit obligation | 93 | 102 | ||
Interest income related to plan assets | (86) | (88) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Past service cost related to plan amendments | 4 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 11 | 15 | (2) | |
UBS AG | US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 7 | 9 | ||
Interest expense related to defined benefit obligation | 55 | 63 | ||
Interest income related to plan assets | (44) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 3 | 4 | ||
Past service cost related to plan amendments | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | $ 22 | $ 31 | $ 34 | |
[1] | Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain of USD 241 million related to past service. Refer to Note 29a for more information on these changes. |
Defined benefit plans (Detail_4
Defined benefit plans (Detail 5.2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Total gains / (losses) recognized in other comprehensive income, before tax | $ (220) | $ 286 | $ (880) |
Total | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 577 | (295) | |
Return on plan assets excluding amounts included in interest income | (736) | 1,965 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (71) | (1,417) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (230) | 253 | (842) |
Swiss plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 242 | (301) | |
Return on plan assets excluding amounts included in interest income | (523) | 1,640 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (71) | (1,417) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (352) | (79) | (94) |
UK plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 266 | 88 | |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Total gains / (losses) recognized in other comprehensive income, before tax | 130 | 304 | (623) |
US and German plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 69 | (82) | |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Total gains / (losses) recognized in other comprehensive income, before tax | (8) | 28 | (126) |
UBS AG | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Total gains / (losses) recognized in other comprehensive income, before tax | (70) | 308 | (880) |
UBS AG | Total | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 598 | (40) | |
Return on plan assets excluding amounts included in interest income | (647) | 1,329 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (30) | (1,013) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (79) | 276 | (842) |
UBS AG | Swiss plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 263 | (47) | |
Return on plan assets excluding amounts included in interest income | (434) | 1,003 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (30) | (1,013) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (201) | (56) | (94) |
UBS AG | UK plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 266 | 88 | |
Return on plan assets excluding amounts included in interest income | (136) | 215 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Total gains / (losses) recognized in other comprehensive income, before tax | 130 | 304 | (623) |
UBS AG | US and German plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | 69 | (82) | |
Return on plan assets excluding amounts included in interest income | (77) | 110 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Total gains / (losses) recognized in other comprehensive income, before tax | $ (8) | $ 28 | $ (126) |
Defined benefit plans (Detail 6
Defined benefit plans (Detail 6) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)yr | Dec. 31, 2017USD ($)yr | ||
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 14.5 | 15.1 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 1,153 | $ 1,149 | |
Benefits expected to be paid between 1 and 3 years | 2,356 | 2,294 | |
Benefits expected to be paid between 3 and 6 years | 3,554 | 3,455 | |
Benefits expected to be paid between 6 and 11 years | 5,643 | 5,564 | |
Benefits expected to be paid between 11 and 16 years | 5,142 | 5,109 | |
Benefits expected to be paid in more than 16 years | $ 16,792 | $ 17,190 | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 19.5 | 20 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 82 | $ 83 | |
Benefits expected to be paid between 1 and 3 years | 187 | 182 | |
Benefits expected to be paid between 3 and 6 years | 345 | 337 | |
Benefits expected to be paid between 6 and 11 years | 701 | 717 | |
Benefits expected to be paid between 11 and 16 years | 770 | 806 | |
Benefits expected to be paid in more than 16 years | $ 3,927 | $ 4,325 | |
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 9.8 | 10.6 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | [1] | $ 108 | $ 108 |
Benefits expected to be paid between 1 and 3 years | [1] | 216 | 217 |
Benefits expected to be paid between 3 and 6 years | [1] | 336 | 330 |
Benefits expected to be paid between 6 and 11 years | [1] | 566 | 572 |
Benefits expected to be paid between 11 and 16 years | [1] | 494 | 514 |
Benefits expected to be paid in more than 16 years | [1] | $ 798 | $ 887 |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 14.5 | 15.1 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 704 | $ 707 | |
Benefits expected to be paid between 1 and 3 years | 1,439 | 1,425 | |
Benefits expected to be paid between 3 and 6 years | 2,170 | 2,139 | |
Benefits expected to be paid between 6 and 11 years | 3,446 | 3,412 | |
Benefits expected to be paid between 11 and 16 years | 3,140 | 3,170 | |
Benefits expected to be paid in more than 16 years | $ 10,253 | $ 10,723 | |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 19.5 | 20 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 82 | $ 83 | |
Benefits expected to be paid between 1 and 3 years | 187 | 182 | |
Benefits expected to be paid between 3 and 6 years | 345 | 337 | |
Benefits expected to be paid between 6 and 11 years | 701 | 717 | |
Benefits expected to be paid between 11 and 16 years | 770 | 806 | |
Benefits expected to be paid in more than 16 years | $ 3,927 | $ 4,325 | |
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 9.8 | 10.6 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | [1] | $ 108 | $ 108 |
Benefits expected to be paid between 1 and 3 years | [1] | 216 | 217 |
Benefits expected to be paid between 3 and 6 years | [1] | 336 | 330 |
Benefits expected to be paid between 6 and 11 years | [1] | 566 | 572 |
Benefits expected to be paid between 11 and 16 years | [1] | 494 | 514 |
Benefits expected to be paid in more than 16 years | [1] | $ 798 | $ 887 |
[1] | The duration of the defined benefit obligation represents a weighted average across US and German plans. |
Defined benefit plans (Detail 7
Defined benefit plans (Detail 7) | Dec. 31, 2018 | Dec. 31, 2017 | |
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.92% | 0.67% | |
Rate of salary increase | 1.50% | 1.30% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.92% | 0.67% | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.90% | 2.55% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 3.10% | 3.11% | |
Rate of interest credit on retirement savings | 0.00% | 0.00% | |
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 3.69% | 3.14% |
Rate of salary increase | [1] | 2.81% | 2.83% |
Rate of pension increase | [1] | 1.50% | 1.50% |
Rate of interest credit on retirement savings | [1] | 3.70% | 2.56% |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.92% | 0.67% | |
Rate of salary increase | 1.50% | 1.30% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.92% | 0.67% | |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.90% | 2.55% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 3.10% | 3.11% | |
Rate of interest credit on retirement savings | 0.00% | 0.00% | |
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 3.69% | 3.14% |
Rate of salary increase | [1] | 2.81% | 2.83% |
Rate of pension increase | [1] | 1.50% | 1.50% |
Rate of interest credit on retirement savings | [1] | 3.70% | 2.56% |
[1] | Represents weighted average assumptions across US and German plans. |
Defined benefit plans (Detail 8
Defined benefit plans (Detail 8) | Dec. 31, 2018 | Dec. 31, 2017 | |
Switzerland | aged 65 | Mortality table Switzerland | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 21.6 | 21.6 | |
Life expectancy at age 65 for a female member currently | 23.5 | 23.4 | |
Switzerland | aged 45 | Mortality table Switzerland | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 23.1 | 23 | |
Life expectancy at age 65 for a female member currently | 25 | 24.9 | |
UK | aged 65 | Mortality table UK | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 23.4 | 23.4 |
Life expectancy at age 65 for a female member currently | [1] | 25.2 | 25.2 |
UK | aged 45 | Mortality table UK | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 24.6 | 24.6 |
Life expectancy at age 65 for a female member currently | [1] | 26.5 | 26.5 |
United States | aged 65 | Mortality table USA | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 22.8 | 22.8 |
Life expectancy at age 65 for a female member currently | [2] | 24.4 | 24.4 |
United States | aged 45 | Mortality table USA | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 24.3 | 24.4 |
Life expectancy at age 65 for a female member currently | [2] | 26 | 26 |
Germany | aged 65 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 20.5 | 20.3 |
Life expectancy at age 65 for a female member currently | [3] | 24.1 | 24.3 |
Germany | aged 45 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 23.3 | 22.9 |
Life expectancy at age 65 for a female member currently | [3] | 26.3 | 26.8 |
UBS AG | Switzerland | aged 65 | Mortality table Switzerland | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 21.6 | 21.6 | |
Life expectancy at age 65 for a female member currently | 23.5 | 23.4 | |
UBS AG | Switzerland | aged 45 | Mortality table Switzerland | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 23.1 | 23 | |
Life expectancy at age 65 for a female member currently | 25 | 24.9 | |
UBS AG | UK | aged 65 | Mortality table UK | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 23.4 | 23.4 |
Life expectancy at age 65 for a female member currently | [1] | 25.2 | 25.2 |
UBS AG | UK | aged 45 | Mortality table UK | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 24.6 | 24.6 |
Life expectancy at age 65 for a female member currently | [1] | 26.5 | 26.5 |
UBS AG | United States | aged 65 | Mortality table USA | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 22.8 | 22.8 |
Life expectancy at age 65 for a female member currently | [2] | 24.4 | 24.4 |
UBS AG | United States | aged 45 | Mortality table USA | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 24.3 | 24.4 |
Life expectancy at age 65 for a female member currently | [2] | 26 | 26 |
UBS AG | Germany | aged 65 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 20.5 | 20.3 |
Life expectancy at age 65 for a female member currently | [3] | 24.1 | 24.3 |
UBS AG | Germany | aged 45 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 23.3 | 22.9 |
Life expectancy at age 65 for a female member currently | [3] | 26.3 | 26.8 |
[1] | In 2017, the mortality table S2PA with CMI 2016 projections was used | ||
[2] | In 2017, the mortality table RP2014 WCHA with MP2017 projection scale was used. | ||
[3] | In 2017, the mortality table Dr. K. Heubeck 2005 G was used. |
Defined benefit plans (Detail 9
Defined benefit plans (Detail 9) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | $ (1,327) | $ (1,470) |
Decrease by 50 basis points | [1] | 1,503 | 1,669 |
Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 68 | 86 |
Decrease by 50 basis points | [1] | (65) | (82) |
Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1,090 | 1,212 |
Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 231 | 267 |
Decrease by 50 basis points | [1] | (219) | (253) |
Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 751 | 827 |
UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (292) | (350) |
Decrease by 50 basis points | [1] | 333 | 401 |
UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 260 | 380 |
Decrease by 50 basis points | [1] | (262) | (336) |
UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 122 | 143 |
US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (77) | (90) |
Decrease by 50 basis points | [1] | 84 | 98 |
US and German plans | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1 | 1 |
Decrease by 50 basis points | [1] | (1) | (1) |
US and German plans | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 6 | 7 |
Decrease by 50 basis points | [1] | (6) | (7) |
US and German plans | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 9 | 9 |
Decrease by 50 basis points | [1] | (9) | (9) |
US and German plans | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 42 | 48 |
UBS AG | Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (797) | (898) |
Decrease by 50 basis points | [1] | 904 | 1,021 |
UBS AG | Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 45 | 61 |
Decrease by 50 basis points | [1] | (43) | (58) |
UBS AG | Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 643 | 726 |
UBS AG | Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 141 | 168 |
Decrease by 50 basis points | [1] | (134) | (159) |
UBS AG | Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 446 | 497 |
UBS AG | UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (292) | (350) |
Decrease by 50 basis points | [1] | 333 | 401 |
UBS AG | UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 260 | 380 |
Decrease by 50 basis points | [1] | (262) | (336) |
UBS AG | UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 122 | 143 |
UBS AG | US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (77) | (90) |
Decrease by 50 basis points | [1] | 84 | 98 |
UBS AG | US and German plans | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1 | 1 |
Decrease by 50 basis points | [1] | (1) | (1) |
UBS AG | US and German plans | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 6 | 7 |
Decrease by 50 basis points | [1] | (6) | (7) |
UBS AG | US and German plans | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 9 | 9 |
Decrease by 50 basis points | [1] | (9) | (9) |
UBS AG | US and German plans | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | $ 42 | $ 48 |
[1] | The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded |
Defined benefit plans (Detail 1
Defined benefit plans (Detail 10) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 30,039 | $ 31,390 | |
Swiss plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | $ 25,839 | $ 26,656 |
Plan asset allocation % | 100.00% | 100.00% | |
Swiss plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 137 | $ 120 | |
Plan asset allocation % | 1.00% | 0.00% | |
Swiss plan | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 2,963 | $ 2,859 | |
Plan asset allocation % | 11.00% | 11.00% | |
Swiss plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 628 | $ 667 | |
Plan asset allocation % | 2.00% | 3.00% | |
Swiss plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 7,237 | $ 8,838 | |
Plan asset allocation % | 28.00% | 33.00% | |
Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 2,570 | $ 2,279 | |
Plan asset allocation % | 10.00% | 9.00% | |
Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 6,194 | $ 6,375 |
Plan asset allocation % | [2] | 24.00% | 24.00% |
Swiss plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 892 | $ 577 |
Plan asset allocation % | [2] | 3.00% | 2.00% |
Swiss plan | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 11 | $ 23 | |
Plan asset allocation % | 0.00% | 0.00% | |
Swiss plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 4,659 | $ 4,905 | |
Plan asset allocation % | 18.00% | 18.00% | |
Swiss plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 549 | $ 12 | |
Plan asset allocation % | 2.00% | 0.00% | |
Swiss plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 17,190 | $ 18,386 | |
Swiss plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 137 | 120 | |
Swiss plan | Quoted in active market | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 628 | 667 | |
Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 5,721 | 7,507 | |
Swiss plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2,570 | 2,279 | |
Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 6,194 | 6,375 |
Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 892 | 577 |
Swiss plan | Quoted in active market | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 518 | 861 | |
Swiss plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 531 | 0 | |
Swiss plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 8,649 | 8,270 | |
Swiss plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2,963 | 2,859 | |
Swiss plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,515 | 1,331 | |
Swiss plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
Swiss plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
Swiss plan | Other | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 11 | 23 | |
Swiss plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 4,142 | 4,044 | |
Swiss plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 18 | 12 | |
UK plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 3,032 | $ 3,469 | |
Plan asset allocation % | 100.00% | 100.00% | |
UK plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 143 | $ 163 | |
Plan asset allocation % | 5.00% | 5.00% | |
UK plan | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 1,604 | $ 1,709 |
Plan asset allocation % | [2] | 53.00% | 49.00% |
UK plan | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 0 | $ 1 |
Plan asset allocation % | [2] | 0.00% | 0.00% |
UK plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 26 | $ 31 | |
Plan asset allocation % | 1.00% | 1.00% | |
UK plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 658 | $ 1,046 | |
Plan asset allocation % | 22.00% | 30.00% | |
UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 680 | $ 724 |
Plan asset allocation % | [2] | 22.00% | 21.00% |
UK plan | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 15 | $ 21 |
Plan asset allocation % | [2] | 0.00% | 1.00% |
UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 258 | $ 147 |
Plan asset allocation % | [2] | 9.00% | 4.00% |
UK plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 51 | $ 57 |
Plan asset allocation % | [2] | 2.00% | 2.00% |
UK plan | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 131 | $ 131 | |
Plan asset allocation % | 4.00% | 4.00% | |
UK plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 1 | |
Plan asset allocation % | 0.00% | 0.00% | |
UK plan | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 22 | $ 0 | |
Plan asset allocation % | 1.00% | 0.00% | |
UK plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | $ (556) | $ (563) |
Plan asset allocation % | [3] | (18.00%) | (16.00%) |
UK plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 2,900 | $ 3,341 | |
UK plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 143 | 163 | |
UK plan | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 1,604 | 1,709 |
UK plan | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 1 |
UK plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 26 | 31 | |
UK plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 658 | 1,046 | |
UK plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 587 | 641 |
UK plan | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 15 | 21 |
UK plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 258 | 147 |
UK plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 51 | 57 |
UK plan | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 102 | 103 | |
UK plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | (4) | |
UK plan | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 21 | 0 | |
UK plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | (565) | (575) |
UK plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 132 | 127 | |
UK plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UK plan | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UK plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 93 | 83 |
UK plan | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UK plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UK plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UK plan | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 28 | 28 | |
UK plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 5 | |
UK plan | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2 | 0 | |
UK plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | 9 | 11 |
US and German plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,168 | 1,265 | |
US plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,168 | $ 1,265 | |
Plan asset allocation % | 100.00% | 100.00% | |
US plans | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 27 | $ 76 | |
Plan asset allocation % | 2.00% | 6.00% | |
US plans | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 462 | $ 200 |
Plan asset allocation % | [2] | 40.00% | 16.00% |
US plans | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 2 | $ 10 |
Plan asset allocation % | [2] | 0.00% | 1.00% |
US plans | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 92 | $ 46 |
Plan asset allocation % | [2] | 8.00% | 4.00% |
US plans | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 3 | $ 1 |
Plan asset allocation % | [2] | 0.00% | 0.00% |
US plans | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 143 | $ 298 | |
Plan asset allocation % | 12.00% | 24.00% | |
US plans | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 157 | $ 277 | |
Plan asset allocation % | 13.00% | 22.00% | |
US plans | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 104 | $ 216 |
Plan asset allocation % | [2] | 9.00% | 17.00% |
US plans | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 23 | $ 20 |
Plan asset allocation % | [2] | 2.00% | 2.00% |
US plans | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 56 | $ 47 |
Plan asset allocation % | [2] | 5.00% | 4.00% |
US plans | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 6 | $ 5 |
Plan asset allocation % | [2] | 1.00% | 0.00% |
US plans | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 13 | $ 13 | |
Plan asset allocation % | 1.00% | 1.00% | |
US plans | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 64 | $ 21 | |
Plan asset allocation % | 5.00% | 2.00% | |
US plans | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 17 | $ 18 | |
Plan asset allocation % | 1.00% | 1.00% | |
US plans | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 15 | |
Plan asset allocation % | 0.00% | 1.00% | |
US plans | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 4 | |
Plan asset allocation % | 0.00% | 0.00% | |
US plans | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,139 | $ 1,235 | |
US plans | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 27 | 76 | |
US plans | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 462 | 200 |
US plans | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 2 | 10 |
US plans | Quoted in active market | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 92 | 46 |
US plans | Quoted in active market | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 3 | 1 |
US plans | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 143 | 298 | |
US plans | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 157 | 277 | |
US plans | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 104 | 216 |
US plans | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 23 | 20 |
US plans | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 56 | 47 |
US plans | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 6 | 5 |
US plans | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 64 | 21 | |
US plans | Quoted in active market | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 15 | |
US plans | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 4 | |
US plans | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 29 | 31 | |
US plans | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
US plans | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 13 | 13 | |
US plans | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 17 | 18 | |
US plans | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Total | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 19,972 | 21,122 | |
UBS AG | Swiss plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [4] | $ 15,772 | $ 16,388 |
Plan asset allocation % | 100.00% | 100.00% | |
UBS AG | Swiss plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 83 | $ 74 | |
Plan asset allocation % | 1.00% | 0.00% | |
UBS AG | Swiss plan | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,808 | $ 1,758 | |
Plan asset allocation % | 11.00% | 11.00% | |
UBS AG | Swiss plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 383 | $ 410 | |
Plan asset allocation % | 2.00% | 3.00% | |
UBS AG | Swiss plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 4,417 | $ 5,433 | |
Plan asset allocation % | 28.00% | 33.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,569 | $ 1,401 | |
Plan asset allocation % | 10.00% | 9.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 3,781 | $ 3,919 |
Plan asset allocation % | [2] | 24.00% | 24.00% |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 544 | $ 355 |
Plan asset allocation % | [2] | 3.00% | 2.00% |
UBS AG | Swiss plan | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 7 | $ 14 | |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | Swiss plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 2,844 | $ 3,016 | |
Plan asset allocation % | 18.00% | 18.00% | |
UBS AG | Swiss plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 335 | $ 8 | |
Plan asset allocation % | 2.00% | 0.00% | |
UBS AG | Swiss plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 10,493 | $ 11,304 | |
UBS AG | Swiss plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 83 | 74 | |
UBS AG | Swiss plan | Quoted in active market | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 383 | 410 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 3,492 | 4,615 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,569 | 1,401 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 3,781 | 3,919 |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 544 | 355 |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 316 | 529 | |
UBS AG | Swiss plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 324 | 0 | |
UBS AG | Swiss plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 5,279 | 5,084 | |
UBS AG | Swiss plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,808 | 1,758 | |
UBS AG | Swiss plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 925 | 818 | |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | Swiss plan | Other | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 7 | 14 | |
UBS AG | Swiss plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2,528 | 2,486 | |
UBS AG | Swiss plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 11 | 8 | |
UBS AG | UK plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 3,032 | $ 3,469 | |
Plan asset allocation % | 100.00% | 100.00% | |
UBS AG | UK plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 143 | $ 163 | |
Plan asset allocation % | 5.00% | 5.00% | |
UBS AG | UK plan | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 1,604 | $ 1,709 |
Plan asset allocation % | [2] | 53.00% | 49.00% |
UBS AG | UK plan | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 0 | $ 1 |
Plan asset allocation % | [2] | 0.00% | 0.00% |
UBS AG | UK plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 26 | $ 31 | |
Plan asset allocation % | 1.00% | 1.00% | |
UBS AG | UK plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 658 | $ 1,046 | |
Plan asset allocation % | 22.00% | 30.00% | |
UBS AG | UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 680 | $ 724 |
Plan asset allocation % | [2] | 22.00% | 21.00% |
UBS AG | UK plan | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 15 | $ 21 |
Plan asset allocation % | [2] | 0.00% | 1.00% |
UBS AG | UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 258 | $ 147 |
Plan asset allocation % | [2] | 9.00% | 4.00% |
UBS AG | UK plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 51 | $ 57 |
Plan asset allocation % | [2] | 2.00% | 2.00% |
UBS AG | UK plan | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 131 | $ 131 | |
Plan asset allocation % | 4.00% | 4.00% | |
UBS AG | UK plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 1 | |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | UK plan | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 22 | $ 0 | |
Plan asset allocation % | 1.00% | 0.00% | |
UBS AG | UK plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | $ (556) | $ (563) |
Plan asset allocation % | [3] | (18.00%) | (16.00%) |
UBS AG | UK plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 2,900 | $ 3,341 | |
UBS AG | UK plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 143 | 163 | |
UBS AG | UK plan | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 1,604 | 1,709 |
UBS AG | UK plan | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 1 |
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 26 | 31 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 658 | 1,046 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 587 | 641 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 15 | 21 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 258 | 147 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 51 | 57 |
UBS AG | UK plan | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 102 | 103 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | (4) | |
UBS AG | UK plan | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 21 | 0 | |
UBS AG | UK plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | (565) | (575) |
UBS AG | UK plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 132 | 127 | |
UBS AG | UK plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | UK plan | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 93 | 83 |
UBS AG | UK plan | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 28 | 28 | |
UBS AG | UK plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 5 | |
UBS AG | UK plan | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2 | 0 | |
UBS AG | UK plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [3] | 9 | 11 |
UBS AG | US and German plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,168 | 1,265 | |
UBS AG | US plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,168 | $ 1,265 | |
Plan asset allocation % | 100.00% | 100.00% | |
UBS AG | US plans | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 27 | $ 76 | |
Plan asset allocation % | 2.00% | 6.00% | |
UBS AG | US plans | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 462 | $ 200 |
Plan asset allocation % | [2] | 40.00% | 16.00% |
UBS AG | US plans | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 2 | $ 10 |
Plan asset allocation % | [2] | 0.00% | 1.00% |
UBS AG | US plans | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 92 | $ 46 |
Plan asset allocation % | [2] | 8.00% | 4.00% |
UBS AG | US plans | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 3 | $ 1 |
Plan asset allocation % | [2] | 0.00% | 0.00% |
UBS AG | US plans | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 143 | $ 298 | |
Plan asset allocation % | 12.00% | 24.00% | |
UBS AG | US plans | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 157 | $ 277 | |
Plan asset allocation % | 13.00% | 22.00% | |
UBS AG | US plans | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 104 | $ 216 |
Plan asset allocation % | [2] | 9.00% | 17.00% |
UBS AG | US plans | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 23 | $ 20 |
Plan asset allocation % | [2] | 2.00% | 2.00% |
UBS AG | US plans | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 56 | $ 47 |
Plan asset allocation % | [2] | 5.00% | 4.00% |
UBS AG | US plans | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | $ 6 | $ 5 |
Plan asset allocation % | [2] | 1.00% | 0.00% |
UBS AG | US plans | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 13 | $ 13 | |
Plan asset allocation % | 1.00% | 1.00% | |
UBS AG | US plans | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 64 | $ 21 | |
Plan asset allocation % | 5.00% | 2.00% | |
UBS AG | US plans | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 17 | $ 18 | |
Plan asset allocation % | 1.00% | 1.00% | |
UBS AG | US plans | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 15 | |
Plan asset allocation % | 0.00% | 1.00% | |
UBS AG | US plans | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 4 | |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | US plans | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 1,139 | $ 1,235 | |
UBS AG | US plans | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 27 | 76 | |
UBS AG | US plans | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 462 | 200 |
UBS AG | US plans | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 2 | 10 |
UBS AG | US plans | Quoted in active market | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 92 | 46 |
UBS AG | US plans | Quoted in active market | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 3 | 1 |
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 143 | 298 | |
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 157 | 277 | |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 104 | 216 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 23 | 20 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 56 | 47 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 6 | 5 |
UBS AG | US plans | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 64 | 21 | |
UBS AG | US plans | Quoted in active market | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 15 | |
UBS AG | US plans | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 4 | |
UBS AG | US plans | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 29 | 31 | |
UBS AG | US plans | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 13 | 13 | |
UBS AG | US plans | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 17 | 18 | |
UBS AG | US plans | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | $ 0 | $ 0 | |
[1] | Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. | ||
[2] | The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in Standard & Poor’s rating classification | ||
[3] | Mainly relates to repurchase arrangements on UK treasury bonds. | ||
[4] | Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. |
Defined benefit plans (Detail_5
Defined benefit plans (Detail 11) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | $ 30,039 | $ 31,390 | |
Swiss plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 25,839 | 26,656 |
Derivative financial instruments, net of collateral | 10 | 12 | |
Swiss plan | Bank accounts at UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 132 | 120 |
Swiss plan | UBS debt instruments | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 13 | 3 |
Swiss plan | UBS shares | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 25 | 34 |
Swiss plan | Securities lent to UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1],[2] | 1,567 | 2,030 |
Swiss plan | Property occupied by UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 88 | 85 |
Swiss plan | Derivative financial instruments, counterparty UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1],[2] | 34 | 23 |
UK plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 3,032 | 3,469 | |
US and German plans | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 1,168 | 1,265 | |
UBS AG | Total | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 19,972 | 21,122 | |
UBS AG | Swiss plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 15,772 | 16,388 |
Derivative financial instruments, net of collateral | 10 | 12 | |
UBS AG | Swiss plan | Bank accounts at UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 80 | 120 |
UBS AG | Swiss plan | UBS debt instruments | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 8 | 3 |
UBS AG | Swiss plan | UBS shares | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 15 | 34 |
UBS AG | Swiss plan | Securities lent to UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [2],[3] | 957 | 2,030 |
UBS AG | Swiss plan | Property occupied by UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 54 | 85 |
UBS AG | Swiss plan | Derivative financial instruments, counterparty UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [2],[3] | 21 | 23 |
UBS AG | UK plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 3,032 | 3,469 | |
UBS AG | US and German plans | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | $ 1,168 | $ 1,265 | |
[1] | Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. | ||
[2] | Securities lent to UBS and derivative financial instruments are presented gross of any collateral. Securities lent to UBS were fully covered by collateral as of 31 December 2018 and 31 December 2017. Net of collateral, derivative financial instruments amounted to USD 10 million as of 31 December 2018 (31 December 2017: USD 12 million). | ||
[3] | Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. |
Medical insurance plans (Detail
Medical insurance plans (Detail 12.1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Post-employment medical insurance plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | $ (88) | ||
Current service cost | 0 | $ 0 | |
Interest expense | 3 | 3 | |
Remeasurement of post-employment benefit obligation | 7 | 1 | |
Past service cost related to plan amendments | (14) | 0 | |
At the end of the year | (62) | (88) | |
Post-employment medical insurance plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 88 | 90 | |
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
Plan participant contributions | 3 | 3 | |
Remeasurement of post-employment benefit obligation | (7) | (1) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | (1) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (5) | 2 | |
of which: experience (gains) / losses | [1] | (2) | (2) |
Past service cost related to plan amendments | (14) | 0 | |
Benefit payments | [2] | (9) | (9) |
Foreign currency translation | (1) | 2 | |
At the end of the year | 62 | 88 | |
Post-employment medical insurance plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
Post-employment medical insurance plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 6 | 6 | |
Post-employment medical insurance plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
Post-employment medical insurance plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 56 | 81 | |
UK plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (27) | ||
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Remeasurement of post-employment benefit obligation | 3 | 1 | |
Past service cost related to plan amendments | 0 | 0 | |
At the end of the year | (22) | (27) | |
UK plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 27 | 26 | |
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of post-employment benefit obligation | (3) | (1) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (1) | (1) | |
of which: experience (gains) / losses | [1] | (2) | 0 |
Past service cost related to plan amendments | 0 | 0 | |
Benefit payments | [2] | (1) | (1) |
Foreign currency translation | (1) | 2 | |
At the end of the year | 22 | 27 | |
UK plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UK plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 6 | 6 | |
UK plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
UK plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 17 | 21 | |
US plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (61) | ||
Current service cost | 0 | 0 | |
Interest expense | 2 | 2 | |
Remeasurement of post-employment benefit obligation | 4 | 0 | |
Past service cost related to plan amendments | (14) | 0 | |
At the end of the year | (40) | (61) | |
US plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 61 | 64 | |
Current service cost | 0 | 0 | |
Interest expense | 2 | 2 | |
Plan participant contributions | 3 | 3 | |
Remeasurement of post-employment benefit obligation | (4) | 0 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (4) | 2 | |
of which: experience (gains) / losses | [1] | 0 | (2) |
Past service cost related to plan amendments | (14) | 0 | |
Benefit payments | [2] | (7) | (8) |
Foreign currency translation | 0 | 0 | |
At the end of the year | 40 | 61 | |
US plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
US plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
US plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
US plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 40 | 61 | |
UBS AG | Post-employment medical insurance plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (88) | ||
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
Remeasurement of post-employment benefit obligation | 7 | 1 | |
Past service cost related to plan amendments | (14) | 0 | |
At the end of the year | (62) | (88) | |
UBS AG | Post-employment medical insurance plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 88 | 90 | |
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
Plan participant contributions | 3 | 3 | |
Remeasurement of post-employment benefit obligation | (7) | (1) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | (1) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (5) | 2 | |
of which: experience (gains) / losses | [1] | (2) | (2) |
Past service cost related to plan amendments | (14) | 0 | |
Benefit payments | [2] | (9) | (9) |
Foreign currency translation | (1) | 2 | |
At the end of the year | 62 | 88 | |
UBS AG | Post-employment medical insurance plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | Post-employment medical insurance plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 6 | 6 | |
UBS AG | Post-employment medical insurance plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
UBS AG | Post-employment medical insurance plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 56 | 81 | |
UBS AG | UK plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (27) | ||
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Remeasurement of post-employment benefit obligation | 3 | 1 | |
Past service cost related to plan amendments | 0 | 0 | |
At the end of the year | (22) | (27) | |
UBS AG | UK plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 27 | 26 | |
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of post-employment benefit obligation | (3) | (1) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (1) | (1) | |
of which: experience (gains) / losses | [1] | (2) | 0 |
Past service cost related to plan amendments | 0 | 0 | |
Benefit payments | [2] | (1) | (1) |
Foreign currency translation | (1) | 2 | |
At the end of the year | 22 | 27 | |
UBS AG | UK plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 6 | 6 | |
UBS AG | UK plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 17 | 21 | |
UBS AG | US plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (61) | ||
Current service cost | 0 | 0 | |
Interest expense | 2 | 2 | |
Remeasurement of post-employment benefit obligation | 4 | 0 | |
Past service cost related to plan amendments | (14) | 0 | |
At the end of the year | (40) | (61) | |
UBS AG | US plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 61 | 64 | |
Current service cost | 0 | 0 | |
Interest expense | 2 | 2 | |
Plan participant contributions | 3 | 3 | |
Remeasurement of post-employment benefit obligation | (4) | 0 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (4) | 2 | |
of which: experience (gains) / losses | [1] | 0 | (2) |
Past service cost related to plan amendments | (14) | 0 | |
Benefit payments | [2] | (7) | (8) |
Foreign currency translation | 0 | 0 | |
At the end of the year | 40 | 61 | |
UBS AG | US plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Fair value of plan assets at the end of the year | $ 40 | $ 61 | |
[1] | Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred | ||
[2] | Benefit payments are funded by employer contributions and plan participant contributions. |
Medical insurance plans (Deta_2
Medical insurance plans (Detail 12.2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Net periodic expenses | $ 188 | $ 481 | $ 440 |
Post-employment medical insurance plans | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 3 | 3 | |
Past service cost related to plan amendments | (14) | 0 | |
Net periodic expenses | (11) | 3 | 4 |
UK plan | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 1 | 1 | |
Past service cost related to plan amendments | 0 | 0 | |
Net periodic expenses | 1 | 1 | 1 |
US plans | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 2 | 2 | |
Past service cost related to plan amendments | (14) | 0 | |
Net periodic expenses | (12) | 2 | 3 |
UBS AG | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Net periodic expenses | 140 | 365 | 438 |
UBS AG | Post-employment medical insurance plans | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 3 | 3 | |
Past service cost related to plan amendments | (14) | 0 | |
Net periodic expenses | (11) | 3 | 4 |
UBS AG | UK plan | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 1 | 1 | |
Past service cost related to plan amendments | 0 | 0 | |
Net periodic expenses | 1 | 1 | 1 |
UBS AG | US plans | |||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | |||
Current service cost | 0 | 0 | |
Interest expense related to post-employment benefit obligation | 2 | 2 | |
Past service cost related to plan amendments | (14) | 0 | |
Net periodic expenses | $ (12) | $ 2 | $ 3 |
Medical insurance plans (Deta_3
Medical insurance plans (Detail 12.3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ (220) | $ 286 | $ (880) |
Post-employment medical insurance plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 7 | 1 | |
Gains / (losses) recognized in other comprehensive income, before tax | 7 | 1 | (13) |
UK plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 3 | 1 | |
Gains / (losses) recognized in other comprehensive income, before tax | 3 | 1 | (5) |
US plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 4 | 0 | |
Gains / (losses) recognized in other comprehensive income, before tax | 4 | 0 | (7) |
UBS AG | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (70) | 308 | (880) |
UBS AG | Post-employment medical insurance plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 7 | 1 | |
Gains / (losses) recognized in other comprehensive income, before tax | 7 | 1 | (13) |
UBS AG | UK plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 3 | 1 | |
Gains / (losses) recognized in other comprehensive income, before tax | 3 | 1 | (5) |
UBS AG | US plans | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | |||
Remeasurement of post-employment benefit obligation | 4 | 0 | |
Gains / (losses) recognized in other comprehensive income, before tax | $ 4 | $ 0 | $ (7) |
Medical insurance plans (Deta_4
Medical insurance plans (Detail 13) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 2.90% | 2.55% |
Average health care cost trend rate - initial | [1] | 5.10% | 5.10% |
Average health care cost trend rate - ultimate | [1] | 5.10% | 5.10% |
US plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1],[2] | 4.20% | 3.54% |
Average health care cost trend rate - initial | [1],[2] | 7.79% | 7.99% |
Average health care cost trend rate - ultimate | [1],[2] | 4.50% | 4.50% |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 2.90% | 2.55% |
Average health care cost trend rate - initial | [1] | 5.10% | 5.10% |
Average health care cost trend rate - ultimate | [1] | 5.10% | 5.10% |
UBS AG | US plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1],[2] | 4.20% | 3.54% |
Average health care cost trend rate - initial | [1],[2] | 7.79% | 7.99% |
Average health care cost trend rate - ultimate | [1],[2] | 4.50% | 4.50% |
[1] | The assumptions for life expectancies are provided within Note 29a | ||
[2] | Represents weighted average assumptions across US plans. |
Medical insurance plans (Deta_5
Medical insurance plans (Detail 14) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
UK plan | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | $ (1) | $ (2) |
Decrease by 50 basis points | [1] | 1 | 2 |
UK plan | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 3 | 4 |
Decrease by 100 basis points | [1] | (3) | (3) |
UK plan | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 2 | 2 |
US plans | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (2) | (3) |
Decrease by 50 basis points | [1] | 2 | 3 |
US plans | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 1 | 1 |
Decrease by 100 basis points | [1] | 0 | (1) |
US plans | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 2 | 4 |
UBS AG | UK plan | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (1) | (2) |
Decrease by 50 basis points | [1] | 1 | 2 |
UBS AG | UK plan | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 3 | 4 |
Decrease by 100 basis points | [1] | (3) | (3) |
UBS AG | UK plan | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 2 | 2 |
UBS AG | US plans | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (2) | (3) |
Decrease by 50 basis points | [1] | 2 | 3 |
UBS AG | US plans | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 1 | 1 |
Decrease by 100 basis points | [1] | 0 | (1) |
UBS AG | US plans | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | $ 2 | $ 4 |
[1] | The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
Related party disclosure (Detai
Related party disclosure (Detail 15) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Received by UBS | |||
Fees | $ 35 | $ 36 | $ 36 |
Paid by UBS | |||
Rent | 4 | 5 | 5 |
Dividends, capital repayments and interest | 10 | 10 | 14 |
UBS AG | |||
Received by UBS | |||
Fees | 22 | 36 | 36 |
Paid by UBS | |||
Rent | 3 | 5 | 5 |
Dividends, capital repayments and interest | $ 10 | $ 10 | $ 14 |
Related party disclosure (Det_2
Related party disclosure (Detail 16) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 889 | 905 |
UBS debt instruments (par values) | $ 13 | $ 2 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 547 | 2,897 |
UBS debt instruments (par values) | $ 3 | $ 4 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 16,712 | 16,370 |
Fair value | $ 207 | $ 301 |
UBS AG | ||
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 831 | 905 |
UBS AG debt instruments (par values) | $ 9 | $ 2 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 547 | 2,897 |
UBS AG debt instruments (par values) | $ 2 | $ 4 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 15,934 | 16,370 |
Fair value | $ 197 | $ 301 |
Employee benefits_ variable c_3
Employee benefits: variable compensation (Narrative) (Detail 1) shares in Millions | 12 Months Ended | |||
Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | |
Equity Participation And Other Compensation Plans [Line Items] | ||||
Share delivery obligations | shares | 146 | 146 | 166 | |
Personnel expenses related to share-based compensation | $ 634,000,000 | $ 711,000,000 | $ 831,000,000 | |
Variable compensation expense | 2,995,000,000 | 3,151,000,000 | 3,013,000,000 | |
Deferred Contingent Capital Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Minimum total compensation of employees to whom deferred cash awards are granted | SFr | SFr 300,000 | |||
Minimum total compensation of employees (in USD) to whom deferred cash awards are granted | $ 300,000 | |||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for GEB members | 10.00% | 10.00% | ||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for non-GEB members | 7.00% | 7.00% | ||
Percentage of awards that GEB members forfeit for each year during the vesting period in which UBS does not achieve an adjusted profit before tax | 20.00% | 20.00% | ||
Long-Term Deferred Retention Senior Incentive Scheme | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | ||
Description of vesting requirements for non-share-based compensation plans | Awards vested after three years | Awards vested after three years | ||
Asset Management EOP | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | ||
Financial advisor variable compensation | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of vesting requirements for non-share-based compensation plans | vest over a six-year period | vest over a six-year period | ||
Strategic objective awards | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vested upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vested upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | ||
Description of vesting requirements for non-share-based compensation plans | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. | ||
GrowthPlus | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. | ||
Awards distribution period for non-2018 arrangements | 7 years | 7 years | ||
Awards distribution period for 2018 arrangements | 5 years | 5 years | ||
Equity Ownership Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2018) and before, the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Starting with the EOP awards granted in 2019 for the performance year 2018, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). Business division performance is measured on the basis of their average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, starting with awards granted for the performance year 2017, European Banking Authority guidelines do not permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjusted for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend-bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2018) and before, the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Starting with the EOP awards granted in 2019 for the performance year 2018, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). Business division performance is measured on the basis of their average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, starting with awards granted for the performance year 2017, European Banking Authority guidelines do not permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjusted for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend-bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | ||
Minimum total compensation of employees to whom share awards are granted | SFr | SFr 300,000 | |||
Minimum total compensation of employees (in USD) to whom share awards are granted | $ 300,000 | |||
Description Of Vesting Requirements For Sharebased Payment Arrangement | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | ||
Equity Plus Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable, a blocked UBS share award. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable, a blocked UBS share award. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | ||
KESAP And KESOP | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | ||
Senior Executive Stock Option Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | ||
Description Of Vesting Requirements For Sharebased Payment Arrangement | These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | ||
Percentage of fair market value of a UBS share on the grant date used to determine the strike price of UBS options | 110.00% | 110.00% | ||
UBS AG | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Personnel expenses related to share-based compensation | $ 612,000,000 | 726,000,000 | 830,000,000 | |
Variable compensation expense | 2,794,000,000 | $ 3,054,000,000 | $ 3,005,000,000 | |
UBS AG | Deferred Contingent Capital Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Minimum total compensation of employees to whom deferred cash awards are granted | SFr | SFr 300,000 | |||
Minimum total compensation of employees (in USD) to whom deferred cash awards are granted | $ 300,000 | |||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for GEB members | 10.00% | 10.00% | ||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for non-GEB members | 7.00% | 7.00% | ||
Percentage of awards that GEB members forfeit for each year during the vesting period in which UBS does not achieve an adjusted profit before tax | 20.00% | 20.00% | ||
UBS AG | Long-Term Deferred Retention Senior Incentive Scheme | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | ||
Description of vesting requirements for non-share-based compensation plans | Awards vested after three years | Awards vested after three years | ||
UBS AG | Asset Management EOP | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | ||
UBS AG | Financial advisor variable compensation | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of vesting requirements for non-share-based compensation plans | vest over a six-year period | vest over a six-year period | ||
UBS AG | Strategic objective awards | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vested upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards, with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vested upon contribution. Company contributions and voluntary contributions were credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant could elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | ||
Description of vesting requirements for non-share-based compensation plans | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to 10 years following grant date. | ||
UBS AG | GrowthPlus | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Description of other non-share-based compensation plans | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and 2018. The awards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. | ||
Awards distribution period for non-2018 arrangements | 7 years | 7 years | ||
Awards distribution period for 2018 arrangements | 5 years | 5 years | ||
UBS AG | Equity Ownership Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2018) and before, the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Starting with the EOP awards granted in 2019 for the performance year 2018, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). Business division performance is measured on the basis of their average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, starting with awards granted for the performance year 2017, European Banking Authority guidelines do not permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjusted for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend-bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. EOP awards granted to GEB members and certain other employees will only vest if both Group and business division performance conditions are met. For all awards granted for the performance year 2017 (awarded in early 2018) and before, the Group performance condition is based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Starting with the EOP awards granted in 2019 for the performance year 2018, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). Business division performance is measured on the basis of their average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses’ adjusted RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted prior to February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, starting with awards granted for the performance year 2017, European Banking Authority guidelines do not permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable remuneration. Where dividend payments are not permitted, the grant price of the EOP award is adjusted for the expected dividend yield over the vesting period to reflect the fair value of the non-dividend-bearing award. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | ||
Minimum total compensation of employees to whom share awards are granted | SFr | SFr 300,000 | |||
Minimum total compensation of employees (in USD) to whom share awards are granted | $ 300,000 | |||
Description Of Vesting Requirements For Sharebased Payment Arrangement | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | ||
UBS AG | Equity Plus Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable, a blocked UBS share award. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains employed by UBS, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is fixed, non-forfeitable compensation. Unlike salary, an RBA is paid only as long as the employee is in such a role. RBAs consist of a cash portion and, where applicable, a blocked UBS share award. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | ||
UBS AG | KESAP And KESOP | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | ||
UBS AG | Senior Executive Stock Option Plan | ||||
Equity Participation And Other Compensation Plans [Line Items] | ||||
Explanation Of Share Options In Sharebased Payment Arrangement | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | ||
Description Of Vesting Requirements For Sharebased Payment Arrangement | These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | These awards vested in full following a three-year vesting period and generally expired 10 years from the grant date. No SESOP awards have been granted since 2008. | ||
Percentage of fair market value of a UBS share on the grant date used to determine the strike price of UBS options | 110.00% | 110.00% |
Employee benefits_ variable c_4
Employee benefits: variable compensation (Narrative) (Detail 2) $ in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Additional shares that could have been issued to fund UBS's employee share option programs | 125,126,476 | 128,000,000 |
Description of when the majority of awards were granted | March 2019 | |
UBS option awards that have been granted since 2009 | 0 | 0 |
UBS SAR awards that have been granted since 2009 | 0 | 0 |
Weighted average discount for share and performance share awards granted | 18.00% | 20.20% |
Carrying amount of liability related to cash-settled share-based awards | $ | $ 39 | $ 56 |
Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.3 | |
UBS AG | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Description of when the majority of awards were granted | March 2019 | |
Weighted average discount for share and performance share awards granted | 18.00% | 20.20% |
Carrying amount of liability related to cash-settled share-based awards | $ | $ 2 | $ 5 |
UBS AG | Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.3 |
Employee benefits_ variable c_5
Employee benefits: variable compensation - Effect on income statement (Detail 1) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | $ 7,292 | [1] | $ 7,467 | [2] | $ 7,178 | [3] | |
Personnel expenses deferred to the next and following years | 4,694 | 5,164 | 5,723 | ||||
Personnel expenses related to share-based compensation | 634 | 711 | 831 | ||||
Personnel expenses related to share-based compensation - performance awards | 526 | 583 | 708 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 12 | 26 | 41 | ||||
Personnel expenses related to share-based compensation - financial advisor variable compensation | 95 | 102 | 82 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 49 | 101 | 90 | ||||
Salaries related to share-based compensation | 15 | 25 | 39 | ||||
Social security related to share-based compensation | 8 | 51 | 27 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 26 | 25 | 24 | ||||
Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,889 | 5,718 | 5,218 | ||||
Personnel expenses deferred to the next and following years | 1,250 | 1,316 | 1,626 | ||||
Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,403 | 1,749 | 1,960 | ||||
Personnel expenses deferred to the next and following years | 3,444 | 3,848 | 4,097 | ||||
Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,995 | 3,151 | 3,013 | ||||
Personnel expenses deferred to the next and following years | 1,238 | 1,291 | 1,518 | ||||
Total variable compensation - performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,461 | 2,487 | 2,221 | ||||
Personnel expenses deferred to the next and following years | 585 | 594 | 677 | ||||
Total variable compensation - performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 534 | 664 | 792 | ||||
Personnel expenses deferred to the next and following years | 653 | 697 | 841 | ||||
Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,057 | 2,062 | 1,799 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,089 | 2,088 | 1,842 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (32) | (25) | (43) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Deferred compensation awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 938 | 1,088 | 1,215 | ||||
Personnel expenses deferred to the next and following years | 1,238 | 1,291 | 1,518 | ||||
Deferred compensation awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 373 | 399 | 379 | ||||
Personnel expenses deferred to the next and following years | 585 | 594 | 677 | ||||
Deferred compensation awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 565 | 689 | 835 | ||||
Personnel expenses deferred to the next and following years | 653 | 697 | 841 | ||||
of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 526 | 583 | 708 | ||||
Personnel expenses deferred to the next and following years | 570 | 620 | 861 | ||||
of which: Equity Ownership Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 217 | 239 | 217 | ||||
Personnel expenses deferred to the next and following years | 325 | 329 | 511 | ||||
of which: Equity Ownership Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 309 | 344 | 491 | ||||
Personnel expenses deferred to the next and following years | 244 | 291 | 349 | ||||
of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 357 | 444 | 435 | ||||
Personnel expenses deferred to the next and following years | 620 | 614 | 593 | ||||
of which: Deferred Contingent Capital Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 131 | 135 | 136 | ||||
Personnel expenses deferred to the next and following years | 238 | 238 | 132 | ||||
of which: Deferred Contingent Capital Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 226 | 310 | 299 | ||||
Personnel expenses deferred to the next and following years | 382 | 376 | 460 | ||||
of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 53 | 57 | 66 | ||||
Personnel expenses deferred to the next and following years | 48 | 54 | 60 | ||||
of which: Asset Management EOP | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 25 | 26 | ||||
Personnel expenses deferred to the next and following years | 22 | 27 | 34 | ||||
of which: Asset Management EOP | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 28 | 32 | 39 | ||||
Personnel expenses deferred to the next and following years | 26 | 27 | 26 | ||||
of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | 6 | ||||
Personnel expenses deferred to the next and following years | 1 | 3 | 5 | ||||
of which: Other performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: Other performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | 6 | ||||
Personnel expenses deferred to the next and following years | 1 | 3 | 5 | ||||
Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 243 | 252 | 425 | ||||
Personnel expenses deferred to the next and following years | 450 | 494 | 455 | ||||
Total variable compensation - other | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 162 | 151 | 272 | ||||
Personnel expenses deferred to the next and following years | 180 | 196 | 159 | ||||
Total variable compensation - other | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 80 | 101 | 153 | ||||
Personnel expenses deferred to the next and following years | 269 | 298 | 296 | ||||
Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 72 | 72 | 87 | ||||
Personnel expenses deferred to the next and following years | 102 | 130 | 70 | ||||
Replacement payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 7 | 13 | 25 | ||||
Personnel expenses deferred to the next and following years | 60 | 86 | 40 | ||||
Replacement payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 64 | 59 | 62 | ||||
Personnel expenses deferred to the next and following years | 41 | 44 | 30 | ||||
Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (136) | (107) | (74) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Forfeiture credits | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Forfeiture credits | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (136) | (107) | (74) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 123 | 113 | 220 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 123 | 113 | 220 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 66 | 63 | 76 | ||||
Personnel expenses deferred to the next and following years | 57 | 63 | 50 | ||||
Retention plan and other payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 33 | 25 | 26 | ||||
Personnel expenses deferred to the next and following years | 24 | 30 | 23 | ||||
Retention plan and other payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 33 | 38 | 50 | ||||
Personnel expenses deferred to the next and following years | 33 | 33 | 26 | ||||
Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 119 | 111 | 115 | ||||
Personnel expenses deferred to the next and following years | 291 | 301 | 335 | ||||
Deferred Contingent Capital Plan: interest expense | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 96 | 80 | 96 | ||||
Deferred Contingent Capital Plan: interest expense | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 119 | 111 | 115 | ||||
Personnel expenses deferred to the next and following years | 195 | 222 | 239 | ||||
Total financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4,054 | 4,064 | 3,740 | ||||
Personnel expenses deferred to the next and following years | 3,006 | 3,379 | 3,750 | ||||
Total financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,266 | 3,080 | 2,725 | ||||
Personnel expenses deferred to the next and following years | 484 | 526 | 790 | ||||
Total financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 789 | 984 | 1,015 | ||||
Personnel expenses deferred to the next and following years | 2,522 | 2,853 | 2,961 | ||||
Financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,470 | 3,310 | 2,931 | ||||
Personnel expenses deferred to the next and following years | 767 | 951 | 1,071 | ||||
Financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,233 | 3,050 | 2,682 | ||||
Personnel expenses deferred to the next and following years | 128 | 156 | 194 | ||||
Financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 237 | 260 | 250 | ||||
Personnel expenses deferred to the next and following years | 639 | 795 | 877 | ||||
of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,089 | 2,891 | 2,534 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,089 | 2,891 | 2,534 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 95 | 102 | 82 | ||||
Personnel expenses deferred to the next and following years | 183 | 191 | 174 | ||||
of which: deferred share-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 51 | 54 | 34 | ||||
Personnel expenses deferred to the next and following years | 52 | 70 | 57 | ||||
of which: deferred share-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 44 | 48 | 49 | ||||
Personnel expenses deferred to the next and following years | 131 | 121 | 117 | ||||
of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 286 | 316 | 315 | ||||
Personnel expenses deferred to the next and following years | 584 | 760 | 897 | ||||
of which: deferred cash-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 93 | 104 | 114 | ||||
Personnel expenses deferred to the next and following years | 76 | 86 | 137 | ||||
of which: deferred cash-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 193 | 212 | 201 | ||||
Personnel expenses deferred to the next and following years | 507 | 674 | 760 | ||||
Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 584 | 754 | 808 | |||
Personnel expenses deferred to the next and following years | [4] | 2,240 | 2,428 | 2,679 | |||
Compensation commitments with recruited financial advisors | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 33 | 31 | 43 | |||
Personnel expenses deferred to the next and following years | [4] | 357 | 369 | 596 | |||
Compensation commitments with recruited financial advisors | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 551 | 723 | 765 | |||
Personnel expenses deferred to the next and following years | [4] | 1,883 | 2,058 | 2,084 | |||
UBS AG | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 7,068 | [5] | 7,349 | [6] | 7,170 | [7] | |
Personnel expenses deferred to the next and following years | 4,656 | 5,135 | 5,691 | ||||
Personnel expenses related to share-based compensation | 612 | 726 | 830 | ||||
Personnel expenses related to share-based compensation - performance awards | 507 | 599 | 708 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 10 | 25 | 40 | ||||
Personnel expenses related to share-based compensation - financial advisor variable compensation | 95 | 102 | 82 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 44 | 97 | 90 | ||||
Salaries related to share-based compensation | 15 | 25 | 39 | ||||
Social security related to share-based compensation | 7 | 49 | 27 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 22 | 23 | 24 | ||||
UBS AG | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,666 | 5,585 | 5,208 | ||||
Personnel expenses deferred to the next and following years | 1,233 | 1,306 | 1,595 | ||||
UBS AG | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,402 | 1,764 | 1,961 | ||||
Personnel expenses deferred to the next and following years | 3,424 | 3,829 | 4,096 | ||||
UBS AG | Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,794 | 3,054 | 3,005 | ||||
Personnel expenses deferred to the next and following years | 1,208 | 1,274 | 1,486 | ||||
UBS AG | Total variable compensation - performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,256 | 2,373 | 2,212 | ||||
Personnel expenses deferred to the next and following years | 570 | 589 | 646 | ||||
UBS AG | Total variable compensation - performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 538 | 680 | 793 | ||||
Personnel expenses deferred to the next and following years | 638 | 685 | 840 | ||||
UBS AG | Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,870 | 1,958 | 1,791 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,896 | 1,982 | 1,833 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (26) | (24) | (42) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Deferred compensation awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 924 | 1,096 | 1,214 | ||||
Personnel expenses deferred to the next and following years | 1,208 | 1,274 | 1,486 | ||||
UBS AG | Deferred compensation awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 360 | 392 | 379 | ||||
Personnel expenses deferred to the next and following years | 570 | 589 | 646 | ||||
UBS AG | Deferred compensation awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 564 | 704 | 835 | ||||
Personnel expenses deferred to the next and following years | 638 | 685 | 840 | ||||
UBS AG | of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 507 | 599 | 708 | ||||
Personnel expenses deferred to the next and following years | 554 | 608 | 605 | ||||
UBS AG | of which: Equity Ownership Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 208 | 235 | 217 | ||||
Personnel expenses deferred to the next and following years | 316 | 322 | 256 | ||||
UBS AG | of which: Equity Ownership Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 299 | 364 | 491 | ||||
Personnel expenses deferred to the next and following years | 238 | 286 | 349 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 361 | 436 | 435 | ||||
Personnel expenses deferred to the next and following years | 605 | 609 | 818 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 126 | 132 | 136 | ||||
Personnel expenses deferred to the next and following years | 232 | 240 | 358 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 235 | 304 | 299 | ||||
Personnel expenses deferred to the next and following years | 373 | 369 | 460 | ||||
UBS AG | of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 53 | 57 | 66 | ||||
Personnel expenses deferred to the next and following years | 48 | 54 | 58 | ||||
UBS AG | of which: Asset Management EOP | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 25 | 26 | ||||
Personnel expenses deferred to the next and following years | 22 | 27 | 32 | ||||
UBS AG | of which: Asset Management EOP | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 28 | 32 | 39 | ||||
Personnel expenses deferred to the next and following years | 26 | 27 | 26 | ||||
UBS AG | of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | 6 | ||||
Personnel expenses deferred to the next and following years | 1 | 3 | 5 | ||||
UBS AG | of which: Other performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: Other performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | 6 | ||||
Personnel expenses deferred to the next and following years | 1 | 3 | 5 | ||||
UBS AG | Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 220 | 231 | 425 | ||||
Personnel expenses deferred to the next and following years | 442 | 482 | 455 | ||||
UBS AG | Total variable compensation - other | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 144 | 131 | 271 | ||||
Personnel expenses deferred to the next and following years | 178 | 191 | 159 | ||||
UBS AG | Total variable compensation - other | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 75 | 99 | 153 | ||||
Personnel expenses deferred to the next and following years | 264 | 291 | 296 | ||||
UBS AG | Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 68 | 70 | 87 | ||||
Personnel expenses deferred to the next and following years | 99 | 123 | 70 | ||||
UBS AG | Replacement payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 7 | 12 | 25 | ||||
Personnel expenses deferred to the next and following years | 58 | 82 | 40 | ||||
UBS AG | Replacement payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 61 | 58 | 62 | ||||
Personnel expenses deferred to the next and following years | 40 | 41 | 30 | ||||
UBS AG | Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (136) | (106) | (74) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Forfeiture credits | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Forfeiture credits | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (136) | (106) | (74) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 106 | 95 | 220 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 106 | 95 | 220 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 64 | 62 | 78 | ||||
Personnel expenses deferred to the next and following years | 56 | 62 | 50 | ||||
UBS AG | Retention plan and other payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 31 | 24 | 26 | ||||
Personnel expenses deferred to the next and following years | 23 | 30 | 23 | ||||
UBS AG | Retention plan and other payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 33 | 38 | 51 | ||||
Personnel expenses deferred to the next and following years | 33 | 32 | 26 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 116 | 110 | 113 | ||||
Personnel expenses deferred to the next and following years | 288 | 297 | 335 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 96 | 80 | 96 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 116 | 110 | 113 | ||||
Personnel expenses deferred to the next and following years | 191 | 218 | 239 | ||||
UBS AG | Total financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4,054 | 4,064 | 3,740 | ||||
Personnel expenses deferred to the next and following years | 3,006 | 3,379 | 3,750 | ||||
UBS AG | Total financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,266 | 3,080 | 2,725 | ||||
Personnel expenses deferred to the next and following years | 484 | 526 | 790 | ||||
UBS AG | Total financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 789 | 984 | 1,015 | ||||
Personnel expenses deferred to the next and following years | 2,522 | 2,853 | 2,961 | ||||
UBS AG | Financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,470 | 3,310 | 2,931 | ||||
Personnel expenses deferred to the next and following years | 767 | 951 | 1,071 | ||||
UBS AG | Financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,233 | 3,050 | 2,682 | ||||
Personnel expenses deferred to the next and following years | 128 | 156 | 194 | ||||
UBS AG | Financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 237 | 260 | 250 | ||||
Personnel expenses deferred to the next and following years | 639 | 795 | 877 | ||||
UBS AG | of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,089 | 2,891 | 2,534 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,089 | 2,891 | 2,534 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 95 | 102 | 82 | ||||
Personnel expenses deferred to the next and following years | 183 | 191 | 174 | ||||
UBS AG | of which: deferred share-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 51 | 54 | 34 | ||||
Personnel expenses deferred to the next and following years | 52 | 70 | 57 | ||||
UBS AG | of which: deferred share-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 44 | 48 | 49 | ||||
Personnel expenses deferred to the next and following years | 131 | 121 | 117 | ||||
UBS AG | of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 286 | 316 | 315 | ||||
Personnel expenses deferred to the next and following years | 584 | 760 | 897 | ||||
UBS AG | of which: deferred cash-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 93 | 104 | 114 | ||||
Personnel expenses deferred to the next and following years | 76 | 86 | 137 | ||||
UBS AG | of which: deferred cash-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 193 | 212 | 201 | ||||
Personnel expenses deferred to the next and following years | 507 | 674 | 760 | ||||
UBS AG | Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [8] | 584 | 754 | 808 | |||
Personnel expenses deferred to the next and following years | [8] | 2,240 | 2,429 | 2,679 | |||
UBS AG | Compensation commitments with recruited financial advisors | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [8] | 33 | 31 | 43 | |||
Personnel expenses deferred to the next and following years | [8] | 357 | 369 | 596 | |||
UBS AG | Compensation commitments with recruited financial advisors | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [8] | 551 | 723 | 765 | |||
Personnel expenses deferred to the next and following years | [8] | $ 1,883 | $ 2,058 | $ 2,084 | |||
[1] | Includes USD 634 million in expenses related to share-based compensation (performance awards: USD 526 million; other variable compensation: USD 12 million; financial advisor compensation: USD 95 million). A further USD 49 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 8 million; Other personnel expenses: USD 26 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 676 million. | ||||||
[2] | Includes USD 711 million in expenses related to share-based compensation (performance awards: USD 583 million; other variable compensation: USD 26 million; financial advisor compensation: USD 102 million). A further USD 101 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 51 million; Other personnel expenses: USD 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 735 million. | ||||||
[3] | Includes USD 831 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 41 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were USD 872 million. | ||||||
[4] | Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date | ||||||
[5] | Includes USD 612 million in expenses related to share-based compensation (performance awards: USD 507 million; other variable compensation: USD 10 million; financial advisor compensation: USD 95 million). A further USD 44 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 15 million, related to role-based allowances; Social security: USD 7 million; Other personnel expenses: USD 22 million, related to the Equity Plus Plan). | ||||||
[6] | Includes USD 726 million in expenses related to share-based compensation (performance awards: USD 599 million; other variable compensation: USD 25 million; financial advisor compensation: USD 102 million). A further USD 97 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 25 million, related to role-based allowances; Social security: USD 49 million; Other personnel expenses: USD 23 million, related to the Equity Plus Plan). | ||||||
[7] | Includes USD 830 million in expenses related to share-based compensation (performance awards: USD 708 million; other variable compensation: USD 40 million; financial advisor compensation: USD 82 million). A further USD 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: USD 39 million, related to role-based allowances; Social security: USD 27 million; Other personnel expenses: USD 24 million, related to the Equity Plus Plan). | ||||||
[8] | Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date |
Employee benefits_ variable c_6
Employee benefits: variable compensation - Movements (Detail 2) | 12 Months Ended | |
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | |
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | 162,835,713 | 165,626,088 |
Number of shares awarded during the year | 58,329,398 | 63,872,651 |
Number of share distributions during the year | (67,696,099) | (58,756,089) |
Number of shares forfeited during the year | (6,623,984) | (7,906,936) |
Number of shares outstanding, at the end of the year | 146,845,027 | 162,835,713 |
Number of shares vested for accounting purposes | 66,850,562 | 74,883,139 |
Weighted average exercise price of shars outstanding, at the beginning of the year | $ | $ 15 | $ 16 |
Weighted average exercise price of share awarded during the year | $ | 17 | 15 |
Weighted average exercise price of share distributions during the year | $ | 15 | 16 |
Weighted average exercise price of shares forfeited during the year | $ | 16 | 15 |
Weighted average exercise price of shares outstanding, at the end of the year | $ | $ 16 | $ 15 |
UBS AG | ||
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | 404,720 | 512,185 |
Number of shares awarded during the year | 26,005 | 117,082 |
Number of share distributions during the year | (228,932) | (212,984) |
Number of shares forfeited during the year | 0 | (11,563) |
Number of shares outstanding, at the end of the year | 201,793 | 404,720 |
Number of shares vested for accounting purposes | 133,225 | 132,117 |
Weighted average exercise price of shars outstanding, at the beginning of the year | $ | $ 15 | $ 16 |
Weighted average exercise price of share awarded during the year | $ | 13 | 14 |
Weighted average exercise price of share distributions during the year | $ | 15 | 17 |
Weighted average exercise price of shares forfeited during the year | $ | 0 | 15 |
Weighted average exercise price of shares outstanding, at the end of the year | $ | $ 15 | $ 15 |
Employee benefits_ variable c_7
Employee benefits: variable compensation - Movements (Detail 3) - Equity Ownership Plan | 12 Months Ended | ||
Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2017CHF (SFr)shares | ||
Option Awards [Line Items] | |||
Number of options outstanding, at the beginning of the year | shares | 32,583,168 | 55,913,291 | |
Number of options exercised during the year | shares | [1] | (1,813,583) | (1,632,319) |
Number of options forfeited during the year | shares | (19,752) | (38,995) | |
Number of options expired unexercised | shares | (24,182,241) | (21,658,809) | |
Number of options outstanding, at the end of the year | shares | 6,567,592 | 32,583,168 | |
Number of options exercisable, at the end of the year | shares | 6,567,592 | 32,583,168 | |
Weighted average exercise price of options outstanding, at the beginning of the year | SFr 25 | SFr 39 | |
Weighted average exercise price of options exercised during the year | [1] | 12 | 12 |
Weighted average exercise price of options forfeited during the year | 23 | 27 | |
Weighted average exercise price of options expired unexercised | 29 | 61 | |
Weighted average exercise price of options outstanding, at the end of the year | 14 | 25 | |
Weighted average exercise price of options exercisable, at the end of the year | 14 | 25 | |
Weighted average share price of options exercised | 16.22 | 16.73 | |
Intrinsic value of options exercised during the year | SFr 7,000,000 | SFr 8,000,000 | |
[1] | The weighted average share price upon option exercise was CHF 16.22 in 2018 (2017: CHF 16.73), resulting in an intrinsic value of CHF 7 million of options exercised during 2018 (2017: CHF 8 million). |
Employee benefits_ variable c_8
Employee benefits: variable compensation - Movements (Detail 4) - Options outstanding | Dec. 31, 2018CHF (SFr)shares |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 6,567,592 |
Aggregate intrinsic value | SFr 6,500,000 |
10.21-15.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 3,294,894 |
Weighted average exercise price | SFr 10.27 |
Aggregate intrinsic value | SFr 6,500,000 |
Weighted average remaining contractual term (years) | 0.2 |
15.01-25.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 3,272,698 |
Weighted average exercise price | SFr 16.95 |
Aggregate intrinsic value | SFr 0 |
Weighted average remaining contractual term (years) | 0.6 |
Employee benefits_ variable c_9
Employee benefits: variable compensation - Movements (Detail 5) | 12 Months Ended | ||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2017CHF (SFr) | ||
Stock Appreciation Rights Awards [Line Items] | |||
Number of SARs outstanding, at the beginning of the year | 8,513,415 | 10,807,315 | |
Number of SARs exercised during the year | [1] | (2,490,146) | (2,212,700) |
Number of SARs forfeited during the year | (11,000) | (23,000) | |
Number of SARs expired unexercised | (46,500) | (58,200) | |
Number of SARs outstanding, at the end of the year | 5,965,769 | 8,513,415 | |
Number of SARs exercisable, at the end of the year | 5,965,769 | 8,513,415 | |
Weighted average exercise price of SARs outstanding, at the beginning of the year | SFr 12 | SFr 12 | |
Weighted average exercise price of SARs exercised during the year | [1] | 11 | 11 |
Weighted average exercise price of SARs forfeited during the year | 13 | 11 | |
Weighted average exercise price of SARs expired unexercised | 12 | 13 | |
Weighted average exercise price of SARs outstanding, at the end of the year | 12 | 12 | |
Weighted average exercise price of SARs exercisable, at the end of the year | 12 | 12 | |
Weighted average share price of SARs exercised | 16.15 | 16.7 | |
Intrinsic value of SARs exercised during the year | SFr 12,000,000 | SFr 12,000,000 | |
[1] | The weighted average share price upon exercise of SARs was CHF 16.15 in 2018 (2017: CHF 16.70), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2018 (2017: CHF 12 million). |
Employee benefits_ variable _10
Employee benefits: variable compensation - Movements (Detail 6) | 12 Months Ended | ||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 5,965,769 | 8,513,415 | 10,807,315 |
Number of SARs exercisable | 5,965,769 | 8,513,415 | |
SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 5,965,769 | ||
Aggregate intrinsic value | SFr 5,100,000 | ||
11.12-12.50 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 5,633,269 | ||
Weighted average exercise price | SFr 11.34 | ||
Aggregate intrinsic value | SFr 5,100,000 | ||
Weighted average remaining contractual term (years) | 0.2 | ||
12.51-15.00 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 2,500 | ||
Weighted average exercise price | SFr 14.85 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 0.4 | ||
15.01-17.50 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 42,000 | ||
Weighted average exercise price | SFr 16.8 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 0.4 | ||
17.51-20.00 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 288,000 | ||
Weighted average exercise price | SFr 19.25 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 0.7 |
Interests in subsidiaries (Deta
Interests in subsidiaries (Detail 1.1) SFr in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2018USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||||
Share capital | $ | $ 338 | $ 338 | $ 338 | $ 338 | ||
UBS AG Subsidiaries | ||||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||||
Company | UBS AG | |||||
Registered office | Zurich and Basel, Switzerland | |||||
Share capital | SFr 385.8 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Business Solutions AG | ||||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||||
Company | [1] | UBS Business Solutions AG | ||||
Registered office | [1] | Zurich, Switzerland | ||||
Share capital | [1] | SFr 1 | ||||
Equity interest accumulated in % | [1] | 100.00% | ||||
UBS Group Funding (Switzerland) AG | ||||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||||
Company | UBS Group Funding (Switzerland) AG | |||||
Registered office | Zurich, Switzerland | |||||
Share capital | SFr 0.1 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | ||||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||||
Share capital | $ | $ 338 | $ 338 | $ 338 | $ 338 | ||
[1] | UBS Business Solutions AG holds subsidiaries in Poland, China and India. |
Interests in subsidiaries (De_2
Interests in subsidiaries (Detail 1.2) € in Millions, £ in Millions, SFr in Millions | 12 Months Ended | |||||||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2018EUR (€) | Dec. 31, 2018GBP (£) | Dec. 31, 2018USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | ||
Individually significant subsidiaries of UBS AG | ||||||||
Share capital | $ 338,000,000 | $ 338,000,000 | $ 338,000,000 | $ 338,000,000 | ||||
UBS Americas Holding LLC | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Americas Holding LLC | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Corporate Center | ||||||
Share capital | [1],[2] | 2,250,000,000 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
Common share capital | 1,000 | |||||||
Preference share capital | 2,250,000,000 | |||||||
UBS Asset Management AG | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Asset Management AG | ||||||
Registered office | [1] | Zurich, Switzerland | ||||||
Primary business division | [1] | Asset Management | ||||||
Share capital | SFr | [1] | SFr 43.2 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS Bank USA | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Bank USA | ||||||
Registered office | [1] | Salt Lake City, Utah, USA | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | [1] | 0 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS Europe SE | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Europe SE | ||||||
Registered office | [1] | Frankfurt, Germany | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | € | [1] | € 446 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS Financial Services Inc. | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Financial Services Inc. | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | [1] | 0 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS Limited | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Limited | ||||||
Registered office | [1] | London, United Kingdom | ||||||
Primary business division | [1] | Investment Bank | ||||||
Share capital | £ | [1] | £ 226.6 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS Securities LLC | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Securities LLC | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Investment Bank | ||||||
Share capital | [1],[3] | 1,283,100,000 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
Common share capital | 100,000 | |||||||
Preference share capital | 1,283,000,000 | |||||||
UBS Switzerland AG | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Switzerland AG | ||||||
Registered office | [1] | Zurich, Switzerland | ||||||
Primary business division | [1] | Personal & Corporate Banking | ||||||
Share capital | SFr | [1] | SFr 10 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Share capital | 338,000,000 | $ 338,000,000 | $ 338,000,000 | $ 338,000,000 | ||||
UBS AG | UBS Americas Holding LLC | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Americas Holding LLC | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Corporate Center | ||||||
Share capital | [1],[2] | 2,250,000,000 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
Common share capital | 1,000 | |||||||
Preference share capital | 2,250,000,000 | |||||||
UBS AG | UBS Asset Management AG | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Asset Management AG | ||||||
Registered office | [1] | Zurich, Switzerland | ||||||
Primary business division | [1] | Asset Management | ||||||
Share capital | SFr | [1] | SFr 43.2 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | UBS Bank USA | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Bank USA | ||||||
Registered office | [1] | Salt Lake City, Utah, USA | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | [1] | 0 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | UBS Europe SE | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Europe SE | ||||||
Registered office | [1] | Frankfurt, Germany | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | € | [1] | € 446 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | UBS Financial Services Inc. | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Financial Services Inc. | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Global Wealth Management | ||||||
Share capital | [1] | 0 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | UBS Limited | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Limited | ||||||
Registered office | [1] | London, United Kingdom | ||||||
Primary business division | [1] | Investment Bank | ||||||
Share capital | £ | [1] | £ 226.6 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
UBS AG | UBS Securities LLC | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Securities LLC | ||||||
Registered office | [1] | Wilmington, Delaware, USA | ||||||
Primary business division | [1] | Investment Bank | ||||||
Share capital | [1],[3] | 1,283,100,000 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
Common share capital | 100,000 | |||||||
Preference share capital | $ 1,283,000,000 | |||||||
UBS AG | UBS Switzerland AG | ||||||||
Individually significant subsidiaries of UBS AG | ||||||||
Company | [1] | UBS Switzerland AG | ||||||
Registered office | [1] | Zurich, Switzerland | ||||||
Primary business division | [1] | Personal & Corporate Banking | ||||||
Share capital | SFr | [1] | SFr 10 | ||||||
Equity interest accumulated in % | [1] | 100.00% | ||||||
[1] | Includes direct and indirect subsidiaries of UBS AG | |||||||
[2] | Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. | |||||||
[3] | Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
Interests in subsidiaries (De_3
Interests in subsidiaries (Detail 2) € in Millions, ฿ in Millions, ¥ in Millions, £ in Millions, SFr in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions | 12 Months Ended | ||||||||||||
Dec. 31, 2018AUD ($) | Dec. 31, 2018CHF (SFr) | Dec. 31, 2018EUR (€) | Dec. 31, 2018GBP (£) | Dec. 31, 2018HKD ($) | Dec. 31, 2018JPY (¥) | Dec. 31, 2018SDG ( ) | Dec. 31, 2018THB (฿) | Dec. 31, 2018USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | ||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Share capital | $ 338 | $ 338 | $ 338 | $ 338 | |||||||||
UBS Americas Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Americas Inc. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Hong Kong) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management (Hong Kong) Limited | ||||||||||||
Registered office | Hong Kong, Hong Kong | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | $ 254 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Japan) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management (Japan) Ltd | ||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | ¥ | ¥ 2,200 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Business Solutions US LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Business Solutions US LLC | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Credit Corp. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Credit Corp. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS (France) SA. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS (France) S.A. | ||||||||||||
Registered office | Paris, France | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | € | € 133 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Advisor, L.L.C. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Advisor, L.L.C. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Management (Luxembourg) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Management (Luxembourg) S.A. | ||||||||||||
Registered office | Luxembourg, Luxembourg | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | € | 13 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Management (Switzerland) AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Management (Switzerland) AG | ||||||||||||
Registered office | Basel, Switzerland | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | SFr | SFr 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS (Monaco) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS (Monaco) S.A. | ||||||||||||
Registered office | Monte Carlo, Monaco | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | € | 49.2 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Realty Investors LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Realty Investors LLC | ||||||||||||
Registered office | Boston, Massachusetts, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | 9 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities (Thailand) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities (Thailand) Ltd | ||||||||||||
Registered office | Bangkok, Thailand | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | ฿ | ฿ 500 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Australia Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Australia Ltd | ||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | [1] | $ 0.3 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Japan Co., Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Japan Co., Ltd. | ||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | ¥ | 32,100 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Pte. Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Pte. Ltd. | ||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | | 420.4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management Life Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management Life Ltd | ||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | £ | £ 15 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Share capital | 338 | $ 338 | $ 338 | $ 338 | |||||||||
UBS AG | UBS Americas Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Americas Inc. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Hong Kong) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management (Hong Kong) Limited | ||||||||||||
Registered office | Hong Kong, Hong Kong | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | $ 254 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Japan) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management (Japan) Ltd | ||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | ¥ | 2,200 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Business Solutions US LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Business Solutions US LLC | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Credit Corp. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Credit Corp. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS (France) SA. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS (France) S.A. | ||||||||||||
Registered office | Paris, France | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | € | 133 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Advisor, L.L.C. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Advisor, L.L.C. | ||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Management (Luxembourg) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Management (Luxembourg) S.A. | ||||||||||||
Registered office | Luxembourg, Luxembourg | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | € | 13 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Management (Switzerland) AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Fund Management (Switzerland) AG | ||||||||||||
Registered office | Basel, Switzerland | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | SFr | SFr 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS (Monaco) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS (Monaco) S.A. | ||||||||||||
Registered office | Monte Carlo, Monaco | ||||||||||||
Primary business division | Global Wealth Management | ||||||||||||
Share capital | € | € 49.2 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Realty Investors LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Realty Investors LLC | ||||||||||||
Registered office | Boston, Massachusetts, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | $ 9 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities (Thailand) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities (Thailand) Ltd | ||||||||||||
Registered office | Bangkok, Thailand | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | ฿ | ฿ 500 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Australia Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Australia Ltd | ||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | [1] | $ 0.3 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Japan Co., Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Japan Co., Ltd. | ||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | ¥ | ¥ 32,100 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Pte. Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Securities Pte. Ltd. | ||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital | | 420.4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management Life Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Company | UBS Asset Management Life Ltd | ||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital | £ | £ 15 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
[1] | Includes a nominal amount relating to redeemable preference shares. |
Interests in subsidiaries (Narr
Interests in subsidiaries (Narrative) (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Notes Interests In Subsidiaries [Line Items] | ||
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to consolidated structured entity | In 2018 and 2017, the Group did not enter into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2018 and 2017, the Group did not enter into any contractual obligation that could require the Group to provide financial support to consolidated SEs. |
Support provided to consolidated structured entity without having contractual obligation to do so | $ 0 | $ 0 |
Description of intentions to provide support to consolidated structured entity | In 2018 and 2017, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. | In 2018 and 2017, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. |
UBS AG | ||
Notes Interests In Subsidiaries [Line Items] | ||
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to consolidated structured entity | In 2018 and 2017, UBS AG did not enter into any contractual obligation that could require UBS AG to provide financial support to consolidated SEs. | In 2018 and 2017, UBS AG did not enter into any contractual obligation that could require UBS AG to provide financial support to consolidated SEs. |
Support provided to consolidated structured entity without having contractual obligation to do so | $ 0 | $ 0 |
Description of intentions to provide support to consolidated structured entity | In 2018 and 2017, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. | In 2018 and 2017, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. |
Interests in associates and j_3
Interests in associates and joint ventures (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | ||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
Carrying amount at the beginning of the year | $ 1,045 | $ 947 | |||||
Additions | 3 | 3 | |||||
Disposals | [1] | (431) | 0 | ||||
Reclassifications | [2] | (21) | 0 | ||||
Share of comprehensive income | 529 | 100 | |||||
of which: share of net profit | 529 | [3],[4] | 76 | [3] | $ 109 | ||
of which: share of other comprehensive income | [5] | 1 | 24 | ||||
Dividends received | (42) | (53) | |||||
Foreign currency translation | 16 | 55 | |||||
Impairment | (7) | ||||||
Carrying amount at the end of the year | 1,099 | 1,045 | 947 | ||||
of which: associates | 1,066 | 1,014 | $ 1,045 | ||||
of which: joint ventures | 33 | 30 | |||||
Share of profit (loss) of associates | 511 | 61 | |||||
Share of profit (loss) of associates related to valuation gains | 460 | ||||||
Share of profit (loss) of joint ventures | 18 | 15 | |||||
Share of other comprehensive income of joint ventures | $ 1 | 24 | |||||
Share of other comprehensive income of associates | (1) | ||||||
UBS Securities China | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | [1] | $ 412 | |||||
UBS's equity interest | 51.00% | 24.99% | |||||
SIX Group AG, Zurich | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | [6] | $ 952 | $ 476 | ||||
UBS's equity interest | 17.31% | ||||||
Other associates | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | $ 114 | 127 | |||||
UBS AG | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
Carrying amount at the beginning of the year | 1,045 | 947 | |||||
Additions | 3 | 3 | |||||
Disposals | [1] | (431) | 0 | ||||
Reclassifications | [2] | (21) | 0 | ||||
Share of comprehensive income | 529 | 100 | |||||
of which: share of net profit | 529 | [3],[4] | 76 | [3] | 109 | ||
of which: share of other comprehensive income | [5] | 1 | 24 | ||||
Dividends received | (42) | (53) | |||||
Foreign currency translation | 16 | 55 | |||||
Impairment | 0 | (7) | |||||
Carrying amount at the end of the year | 1,099 | 1,045 | 947 | ||||
of which: associates | 1,066 | 1,014 | $ 1,045 | ||||
of which: joint ventures | 33 | 30 | $ 30 | ||||
Share of profit (loss) of associates | 511 | 61 | |||||
Share of profit (loss) of associates related to valuation gains | 460 | ||||||
Share of profit (loss) of joint ventures | 18 | 15 | |||||
Share of other comprehensive income of joint ventures | 1 | 24 | |||||
Share of other comprehensive income of associates | (1) | ||||||
UBS AG | UBS Securities China | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | [1] | $ 0 | $ 412 | ||||
UBS's equity interest | 51.00% | 24.99% | |||||
UBS AG | SIX Group AG, Zurich | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | [6] | $ 952 | $ 476 | ||||
UBS's equity interest | 17.31% | ||||||
UBS AG | Other associates | |||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | |||||||
of which: associates | $ 114 | $ 127 | |||||
[1] | In December 2018, UBS increased its shareholding in UBS Securities China from 24.99% to 51%, acquiring control of the entity in accordance with IFRS 10, Consolidated Financial Statements. Upon acquisition of control, UBS derecognized its former investment in associate. Refer to Note 32 for more information | ||||||
[2] | Reflects reclassifications to Properties and other non-current assets held for sale. | ||||||
[3] | For 2018, consists of USD 511 million from associates, of which USD 460 million reflected a valuation gain on the equity ownership in SIX related to the sale of SIX Payment Services to Worldline, and USD 18 million from joint ventures. For 2017, consists of USD 61 million from associates and USD 15 million from joint ventures. | ||||||
[4] | Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. Refer to Note 31b for more information. | ||||||
[5] | For 2018, the total of USD 1 million is from associates. For 2017, consists of USD 24 million from associates and negative USD 1 million from joint ventures. | ||||||
[6] | In 2018, UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in associates and j_4
Interests in associates and joint ventures (Narrative) (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||
Description of nature and extent of significant restrictions on transfer of funds to entity, associates and joint ventures | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made |
SIX's equity interest in Worldline | 27.00% | 27.00% |
UBS AG | ||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||
Description of nature and extent of significant restrictions on transfer of funds to entity, associates and joint ventures | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS AG or its subsidiaries in the form of cash dividends or to repay loans or advances made | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS AG or its subsidiaries in the form of cash dividends or to repay loans or advances made |
SIX's equity interest in Worldline | 27.00% | 27.00% |
Interests in unconsolidated s_3
Interests in unconsolidated structured entities (Narrative) (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Support provided to consolidated structured entity without having contractual obligation to do so | $ 0 | $ 0 |
Information About How Maximum Exposure To Loss From Interests In Structured Entities Is Determined | The Group’s maximum exposure to loss is generally equal to the carrying value of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. | The Group’s maximum exposure to loss is generally equal to the carrying value of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. |
Description of intentions to provide support to consolidated structured entity | In 2018 and 2017, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. | In 2018 and 2017, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. |
Description of types of income from structured entities | In 2018 and 2017, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. | In 2018 and 2017, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. |
Assets transferred to securitization vehicles by UBS, at time of transfer | $ 1,000,000,000 | $ 2,000,000,000 |
Assets transferred to securitization vehicles by third parties, at time of transfer | 1,000,000,000 | 8,000,000,000 |
Assets transferred to client vehicles by UBS, at time of transfer | 2,000,000,000 | 6,000,000,000 |
Assets transferred to client vehicles by third parties, at time of transfer | $ 0 | $ 1,000,000,000 |
Securitization vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to f inancing, underwriting, secondary market and derivative trading activities. In some cases the Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership stru cture. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table may differ fr om the securitization positio ns presented in the 31 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following p age s of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value with in the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more in formation | Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to f inancing, underwriting, secondary market and derivative trading activities. In some cases the Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership stru cture. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table may differ fr om the securitization positio ns presented in the 31 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following p age s of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value with in the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more in formation |
Client vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in client vehicles As of 31 December 2018 and 31 December 2017 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. | Interests in client vehicles As of 31 December 2018 and 31 December 2017 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. |
Investment fund units | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge struc tured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contract s represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund as sets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . | Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge struc tured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contract s represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund as sets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . |
Investment fund units | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value of sponsored investment funds | $ 18,000,000,000 | $ 15,000,000,000 |
UBS AG | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Support provided to consolidated structured entity without having contractual obligation to do so | $ 0 | $ 0 |
Information About How Maximum Exposure To Loss From Interests In Structured Entities Is Determined | UBS AG’s maximum exposure to loss is generally equal to the carrying value of UBS AG’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. | UBS AG’s maximum exposure to loss is generally equal to the carrying value of UBS AG’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. |
Description of intentions to provide support to consolidated structured entity | In 2018 and 2017, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. | In 2018 and 2017, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. |
Description of types of income from structured entities | In 2018 and 2017, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. | In 2018 and 2017, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in other net income from fair value changes on financial instruments, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. |
Assets transferred to securitization vehicles by UBS, at time of transfer | $ 1,000,000,000 | $ 2,000,000,000 |
Assets transferred to securitization vehicles by third parties, at time of transfer | 1,000,000,000 | 8,000,000,000 |
Assets transferred to client vehicles by UBS, at time of transfer | 2,000,000,000 | 6,000,000,000 |
Assets transferred to client vehicles by third parties, at time of transfer | $ 0 | $ 1,000,000,000 |
UBS AG | Securitization vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , UBS AG held interests, both retained and acquired, in various se curitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’s interest is subordinated to others in the ownership structure. An overview of UBS AG’s interests in unconsolidated securitiza tion vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following pages. The numbers outlined in this table may differ from the securitization positions presented in the 3 1 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following page s of sy nthetic securitizations transacted with entities that are not SEs and transactions in which UBS AG did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by UBS AG versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information | Interests in securitization vehicles As of 31 December 2018 and 31 December 2017 , UBS AG held interests, both retained and acquired, in various se curitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’s interest is subordinated to others in the ownership structure. An overview of UBS AG’s interests in unconsolidated securitiza tion vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following pages. The numbers outlined in this table may differ from the securitization positions presented in the 3 1 December 2018 Pillar 3 report under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion from the table on the following page s of sy nthetic securitizations transacted with entities that are not SEs and transactions in which UBS AG did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with net exposure amount at default for Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by UBS AG versus sponsored by third parties. Refer to Note 1 a item 1 for more information on the Group’s accounting policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 201 8 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information |
UBS AG | Client vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Inter ests in client vehicles As of 31 December 2018 and 31 December 2017 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Includ ed within these investments are securities guaranteed by US government agencies. | Inter ests in client vehicles As of 31 December 2018 and 31 December 2017 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Includ ed within these investments are securities guaranteed by US government agencies. |
UBS AG | Investment fund units | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerin gs. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of th e fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG ’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the inve stors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . | Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerin gs. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of th e fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund and the jurisdiction of incorporation , as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG ’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the inve stors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material exposure to loss from these interests as of 31 December 2018 or as of 31 December 2017 . |
UBS AG | Investment fund units | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value of sponsored investment funds | $ 18,000,000,000 | $ 15,000,000,000 |
Interests in unconsolidated s_4
Interests in unconsolidated structured entities (Detail 1) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | $ 12,682 | $ 11,806 | |||
Total liabilities | 158 | 283 | |||
Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 7,890 | 6,991 | ||
Total assets | 7,890 | 6,991 | |||
Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 44 | 114 | ||
Total assets | 44 | 114 | |||
Loans and advances to customers | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 179 | 100 | ||
Total assets | 179 | 100 | |||
Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 1,878 | 1,826 | ||
Total assets | 302 | 262 | |||
Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 3,931 | 4,011 | ||
Total assets | 3,931 | 4,011 | |||
Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 1,423 | 1,443 | ||
Total assets | 337 | 328 | |||
Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 3 | 14 | ||
Total liabilities | 158 | 283 | |||
Securitization vehicles | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [2] | 826 | 779 | ||
Total liabilities | 3 | 21 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 63,000 | 58,000 | [4] | |
Assets recognised in entity's financial statements in relation to structured entities, which was held in Non-core and Legacy Portfolio unit within Corporate Center. | 600 | 700 | |||
Decrease of assets held by unconsolidated structured entities in which UBS had an interest due to refinement of methodology | 26,000 | ||||
Decrease of total interest in unconsolidated structured entities due to refinement of methodology | 0.3 | ||||
Securitization vehicles | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 420 | 373 | |||
Securitization vehicles | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 8 | 22 | |||
Securitization vehicles | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 87 | 86 | |||
Securitization vehicles | Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 312 | 299 | |||
Securitization vehicles | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | [5] | 3 | 21 | ||
Client vehicles | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 4,212 | 4,449 | |||
Total liabilities | 123 | 54 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [6] | 69,000 | 80,000 | [4] | |
Decrease of assets held by unconsolidated structured entities in which UBS had an interest due to refinement of methodology | 22,000 | ||||
Decrease of total interest in unconsolidated structured entities due to refinement of methodology | 0.2 | ||||
Client vehicles | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 174 | 316 | |||
Client vehicles | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 35 | 70 | |||
Client vehicles | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [7] | 48 | 68 | ||
Client vehicles | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 3,931 | 3,965 | |||
Client vehicles | Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [7] | 25 | 30 | ||
Client vehicles | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | 123 | 54 | |||
Investment funds | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 7,643 | 6,578 | |||
Total liabilities | 32 | 208 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [8] | 385,000 | 422,000 | [4] | |
Investment funds | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 7,297 | 6,302 | |||
Investment funds | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 1 | 23 | |||
Investment funds | Loans and advances to customers | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 179 | 100 | |||
Investment funds | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 166 | [9] | 108 | ||
Investment funds | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [9] | 46 | |||
Investment funds | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | 32 | 208 | |||
UBS AG | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 12,600 | 11,698 | |||
Total liabilities | 158 | 283 | |||
UBS AG | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 7,890 | 6,991 | ||
Total assets | 7,890 | 6,991 | |||
UBS AG | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 44 | 114 | ||
Total assets | 44 | 114 | |||
UBS AG | Loans and advances to customers | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 179 | 100 | ||
Total assets | 179 | 100 | |||
UBS AG | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 1,796 | 1,718 | ||
Total assets | 220 | 154 | |||
UBS AG | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 3,931 | 4,011 | ||
Total assets | 3,931 | 4,011 | |||
UBS AG | Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 1,423 | 1,443 | ||
Total assets | 337 | 328 | |||
UBS AG | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Maximum exposure to loss | [1] | 3 | 14 | ||
Total liabilities | 158 | 283 | |||
UBS AG | Securitization vehicles | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [2] | 826 | 779 | ||
Total liabilities | 3 | 21 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 63,000 | 58,000 | [4] | |
Assets recognised in entity's financial statements in relation to structured entities, which was held in Non-core and Legacy Portfolio unit within Corporate Center. | 600 | 700 | |||
Decrease of assets held by unconsolidated structured entities in which UBS had an interest due to refinement of methodology | 26,000 | ||||
Decrease of total interest in unconsolidated structured entities due to refinement of methodology | 0.3 | ||||
UBS AG | Securitization vehicles | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 420 | 373 | |||
UBS AG | Securitization vehicles | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 8 | 22 | |||
UBS AG | Securitization vehicles | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 87 | 86 | |||
UBS AG | Securitization vehicles | Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 312 | 299 | |||
UBS AG | Securitization vehicles | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | [5] | 3 | 21 | ||
UBS AG | Client vehicles | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 4,212 | 4,449 | |||
Total liabilities | 123 | 54 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [6] | 69,000 | 80,000 | [4] | |
Decrease of assets held by unconsolidated structured entities in which UBS had an interest due to refinement of methodology | 22,000 | ||||
Decrease of total interest in unconsolidated structured entities due to refinement of methodology | 0.2 | ||||
UBS AG | Client vehicles | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 174 | 316 | |||
UBS AG | Client vehicles | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 35 | 70 | |||
UBS AG | Client vehicles | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [7] | 48 | 68 | ||
UBS AG | Client vehicles | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 3,931 | 3,965 | |||
UBS AG | Client vehicles | Other financial assets measured at amortized cost | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [7] | 25 | 30 | ||
UBS AG | Client vehicles | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | 123 | 54 | |||
UBS AG | Investment funds | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 7,562 | 6,470 | |||
Total liabilities | 32 | 208 | |||
Assets held by the unconsolidated structured entities in which UBS had an interest | [8] | 385,000 | 422,000 | [4] | |
UBS AG | Investment funds | Financial assets at fair value held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 7,297 | 6,302 | |||
UBS AG | Investment funds | Derivative Financial instruments - assets | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 1 | 23 | |||
UBS AG | Investment funds | Loans and advances to customers | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | 179 | 100 | |||
UBS AG | Investment funds | Financial assets at fair value not held for trading | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [9] | 85 | |||
UBS AG | Investment funds | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total assets | [9] | 46 | |||
UBS AG | Investment funds | Derivative financial instruments - Liabilities | |||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||||
Total liabilities | $ 32 | $ 208 | |||
[1] | For the purpose of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements | ||||
[2] | As of 31 December 2018, USD 0.6 billion of the USD 0.8 billion (31 December 2017: USD 0.7 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. | ||||
[3] | Represents the principal amount outstanding. | ||||
[4] | In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated structured entities at 31 December 2017 would have been USD 0.3 million and USD 0.2 million lower for securitization vehicles and client vehicles, respectively. Assets held by the unconsolidated structured entities in which UBS had an interest at 31 December 2017 would have been USD 26 billion lower for securitization vehicles and USD 22 billion lower for client vehicles. | ||||
[5] | Comprised of credit default swap liabilities and other swap liabilities. The maximum exposure to loss for credit default swap liabilities is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. | ||||
[6] | Represents the market value of total assets. | ||||
[7] | Represents the carrying value of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. | ||||
[8] | Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. | ||||
[9] | Upon adoption of IFRS 9 on 1 January 2018, investment fund units that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 1c for more information. |
Interests in unconsolidated s_5
Interests in unconsolidated structured entities (Detail 2) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | $ 12,682 | $ 11,806 | |||||
of which: financial assets at fair value held for trading | 104,370 | [1] | $ 118,256 | 129,407 | [1] | $ 90,416 | |
of which: financial assets at fair value not held for trading | 82,690 | [2] | 80,985 | 60,457 | [2] | 64,210 | |
Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 313 | 130 | ||||
of which: financial assets at fair value held for trading | [3] | 226 | 44 | ||||
of which: financial assets at fair value not held for trading | [3] | 87 | 86 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 25,000 | 12,000 | ||||
Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 291 | 121 | ||||
Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 95 | 86 | ||||
Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 11 | |||||
Sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 13 | |||||
Sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 12 | |||||
Sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | 9 | ||||
Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 194 | 330 | ||||
of which: financial assets at fair value held for trading | [3] | 194 | 330 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 37,000 | 44,000 | [4] | |||
Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 185 | 319 | ||||
Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 160 | 319 | ||||
Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 25 | |||||
Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | 9 | ||||
Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 2 | 1 | ||||
Not sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | 9 | ||||
Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 5 | |||||
Not sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
Not sponsored by UBS | Interests in junior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Not sponsored by UBS | Tranch information not available | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Not sponsored by UBS | Tranch information not available | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 95 | 86 | ||||
of which: financial assets at fair value held for trading | [3] | 8 | |||||
of which: financial assets at fair value not held for trading | [3] | 87 | 86 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 0 | 1,000 | ||||
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 87 | 86 | ||||
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 87 | 86 | ||||
Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | |||||
Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 3 | 87 | ||||
of which: financial assets at fair value held for trading | [3] | 3 | 87 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 2,000 | 19,000 | [4] | |||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 77 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 77 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 9 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | 9 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 210 | 33 | ||||
of which: financial assets at fair value held for trading | [3] | 210 | 33 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 24,000 | 10,000 | ||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 13 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 12 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 9 | ||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
Commercial mortgage-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 41 | 7 | ||||
of which: financial assets at fair value held for trading | [3] | 41 | 7 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 12,000 | 5,000 | [4] | |||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 33 | 7 | ||||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 33 | 7 | ||||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 7 | 1 | ||||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 2 | 1 | ||||
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 5 | |||||
Other asset-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
of which: financial assets at fair value held for trading | [3],[5] | 0 | |||||
Total assets held by the vehicles in which UBS had an interest | [3],[5] | 0 | |||||
Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
Other asset-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | 169 | ||||
of which: financial assets at fair value held for trading | [3],[5] | 25 | 169 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[5] | 22,000 | 20,000 | [4] | |||
Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | 169 | ||||
Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | 169 | ||||
Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | |||||
Resecuritization | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | 11 | ||||
of which: financial assets at fair value held for trading | [3],[6] | 8 | 11 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[6] | 1,000 | 1,000 | ||||
Resecuritization | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | 11 | ||||
Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | |||||
Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 11 | |||||
Resecuritization | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 126 | 66 | ||||
of which: financial assets at fair value held for trading | [3],[6] | 126 | 66 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[6] | 1,000 | 0 | [4] | |||
Resecuritization | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 126 | 66 | ||||
Resecuritization | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 126 | 66 | ||||
UBS AG | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | 12,600 | 11,698 | |||||
of which: financial assets at fair value held for trading | 104,513 | [1] | 118,359 | 129,509 | [1] | 90,501 | |
of which: financial assets at fair value not held for trading | 82,387 | [2] | $ 80,598 | 60,070 | [2] | $ 63,888 | |
UBS AG | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 313 | 130 | ||||
of which: financial assets at fair value held for trading | [3] | 226 | 44 | ||||
of which: financial assets at fair value not held for trading | [3] | 87 | 86 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 25,000 | 12,000 | ||||
UBS AG | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 291 | 121 | ||||
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 95 | 86 | ||||
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 11 | |||||
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 13 | |||||
UBS AG | Sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 12 | |||||
UBS AG | Sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | 9 | ||||
UBS AG | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
UBS AG | Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
UBS AG | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 194 | 330 | ||||
of which: financial assets at fair value held for trading | [3] | 194 | 330 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 37,000 | 44,000 | [4] | |||
UBS AG | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 185 | 319 | ||||
UBS AG | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 160 | 319 | ||||
UBS AG | Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 25 | |||||
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | 9 | ||||
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 2 | 1 | ||||
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | 9 | ||||
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 5 | |||||
UBS AG | Not sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
UBS AG | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
UBS AG | Not sponsored by UBS | Interests in junior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Not sponsored by UBS | Tranch information not available | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Not sponsored by UBS | Tranch information not available | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 95 | 86 | ||||
of which: financial assets at fair value held for trading | [3] | 8 | |||||
of which: financial assets at fair value not held for trading | [3] | 87 | 86 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 0 | 1,000 | ||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 87 | 86 | ||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 87 | 86 | ||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | |||||
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 8 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 3 | 87 | ||||
of which: financial assets at fair value held for trading | [3] | 3 | 87 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 2,000 | 19,000 | [4] | |||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 77 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 77 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 9 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | 9 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 1 | ||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 210 | 33 | ||||
of which: financial assets at fair value held for trading | [3] | 210 | 33 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 24,000 | 10,000 | ||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 196 | 24 | ||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 13 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 12 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | 9 | ||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 9 | |||||
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 1 | |||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 41 | 7 | ||||
of which: financial assets at fair value held for trading | [3] | 41 | 7 | ||||
Total assets held by the vehicles in which UBS had an interest | [3] | 12,000 | 5,000 | [4] | |||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 33 | 7 | ||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 33 | 7 | ||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 0 | |||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 7 | 1 | ||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 2 | 1 | ||||
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3] | 5 | |||||
UBS AG | Other asset-backed securities | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
of which: financial assets at fair value held for trading | [3],[5] | 0 | |||||
Total assets held by the vehicles in which UBS had an interest | [3],[5] | 0 | |||||
UBS AG | Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
UBS AG | Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | |||||
UBS AG | Other asset-backed securities | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | 169 | ||||
of which: financial assets at fair value held for trading | [3],[5] | 25 | 169 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[5] | 22,000 | 20,000 | [4] | |||
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | 169 | ||||
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 0 | 169 | ||||
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: not rated | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[5] | 25 | |||||
UBS AG | Resecuritization | Sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | 11 | ||||
of which: financial assets at fair value held for trading | [3],[6] | 8 | 11 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[6] | 1,000 | 1,000 | ||||
UBS AG | Resecuritization | Sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | 11 | ||||
UBS AG | Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 8 | |||||
UBS AG | Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 11 | |||||
UBS AG | Resecuritization | Not sponsored by UBS | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 126 | 66 | ||||
of which: financial assets at fair value held for trading | [3],[6] | 126 | 66 | ||||
Total assets held by the vehicles in which UBS had an interest | [3],[6] | 1,000 | 0 | [4] | |||
UBS AG | Resecuritization | Not sponsored by UBS | Interests in senior tranches | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | 126 | 66 | ||||
UBS AG | Resecuritization | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||||||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||||||
Total | [3],[6] | $ 126 | $ 66 | ||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||
[2] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||
[3] | This table excludes receivables and derivative transactions with securitization vehicles | ||||||
[4] | In 2018 UBS has refined the methodology applied to identify significant interests in the scope of disclosure under IFRS 12, Disclosure of Interests in Other Entities. This change has been applied prospectively as the effect on interests disclosed was not material in prior periods. Had this methodology been applied in 2017, the interests in unconsolidated securitization vehicles at 31 December 2017 would have been USD 0.3 million lower and the assets held by these unconsolidated securitization vehicles would have been USD 26 billion lower. | ||||||
[5] | Includes credit card, auto and student loan structures. | ||||||
[6] | Includes collateralized debt obligations. |
Interests in unconsolidated s_6
Interests in unconsolidated structured entities (Detail 3) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | $ 6,025 | $ 6,656 | $ 6,487 | |
Net fee and commission income | [1] | 17,895 | 17,522 | 16,593 |
Other net income from fair value changes on financial instruments | 5,984 | 5,065 | 5,023 | |
in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (5) | (7) | |
Net fee and commission income | [2] | 54 | 41 | |
Other net income from fair value changes on financial instruments | [2] | 29 | (56) | |
Total income | [2] | 78 | (22) | |
Profit attributable to non-controlling interests from unconsolidated structured entities | 0 | 73 | ||
Decrease of asset information through restatement | 3,000 | |||
Securitization vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 0 | 2 | |
Other net income from fair value changes on financial instruments | [2] | 0 | (8) | |
Total income | [2] | 1 | (6) | |
Asset information | [2],[3] | 2,000 | 10,000 | |
Client vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (6) | (9) | |
Net fee and commission income | [2] | 16 | ||
Other net income from fair value changes on financial instruments | [2] | 8 | (50) | |
Total income | [2] | 18 | (59) | |
Asset information | [2],[4] | 2,000 | 4,000 | |
Investment funds | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 1 | 0 | |
Net fee and commission income | [2] | 39 | 41 | |
Other net income from fair value changes on financial instruments | [2] | 20 | 2 | |
Total income | [2] | 60 | 43 | |
Asset information | [2],[5] | 18,000 | 15,000 | |
UBS AG | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | 5,949 | 6,607 | 6,457 | |
Net fee and commission income | [6] | 17,930 | 17,550 | 16,644 |
Other net income from fair value changes on financial instruments | 5,977 | 5,067 | $ 5,018 | |
UBS AG | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (5) | (7) | |
Net fee and commission income | [2] | 54 | 41 | |
Other net income from fair value changes on financial instruments | [2] | 29 | (56) | |
Total income | [2] | 78 | (22) | |
Profit attributable to non-controlling interests from unconsolidated structured entities | 0 | 73 | ||
Decrease of asset information through restatement | 3,000 | |||
UBS AG | Securitization vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 0 | 2 | |
Other net income from fair value changes on financial instruments | [2] | 0 | (8) | |
Total income | [2] | 1 | (6) | |
Asset information | [2],[3] | 2,000 | 10,000 | |
UBS AG | Client vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (6) | (9) | |
Net fee and commission income | [2] | 16 | ||
Other net income from fair value changes on financial instruments | [2] | 8 | (50) | |
Total income | [2] | 18 | (59) | |
Asset information | [2],[4] | 2,000 | 4,000 | |
UBS AG | Investment funds | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 1 | 0 | |
Net fee and commission income | [2] | 39 | 41 | |
Other net income from fair value changes on financial instruments | [2] | 20 | 2 | |
Total income | [2] | 60 | 43 | |
Asset information | [2],[5] | $ 18,000 | $ 15,000 | |
[1] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||
[2] | For the year ended 31 December 2018, no profit attributable to non-controlling interests was excluded from the table (31 December 2017: USD 73 million) | |||
[3] | Represents the amount of assets transferred to the respective securitization vehicles. | |||
[4] | Represents the amount of assets transferred to the respective client vehicles. Information in the comparative period has been restated. Asset information as of 31 December 2017 has decreased by USD 3 billion as a result. | |||
[5] | Represents the total net asset value of the respective investment funds. | |||
[6] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated |
Changes in organization and d_2
Changes in organization and disposals - Increase of stake in and consolidation of UBS Securities China (Narrative) (Detail) $ in Millions | Dec. 31, 2018USD ($) |
Disclosure Of Stake In UBS Securities China [Line Items] | |
Percentage of stake in UBS Securities China before acquisition | 24.99% |
Percentage of stake in UBS Securities China after acquisition | 51.00% |
Percentage of additional stake in UBS Securities China aquired in transaction | 26.01% |
Acquisition cost of stake increase in UBS Securities China | $ 125 |
Goodwill recognized upon consolidation resulting from the acquisition of stake increase in UBS Securities China | 102 |
Other net assets recognized upon consolidation resulting from the acquisition of stake increase in UBS Securities China | 278 |
Equity attributable to non-controlling interests recognized upon consoldation resulting from the acquisition of stake increase in UBS Securities China | $ 136 |
UBS AG | |
Disclosure Of Stake In UBS Securities China [Line Items] | |
Percentage of stake in UBS Securities China before acquisition | 24.99% |
Percentage of stake in UBS Securities China after acquisition | 51.00% |
Percentage of additional stake in UBS Securities China aquired in transaction | 26.01% |
Acquisition cost of stake increase in UBS Securities China | $ 125 |
Goodwill recognized upon consolidation resulting from the acquisition of stake increase in UBS Securities China | 102 |
Other net assets recognized upon consolidation resulting from the acquisition of stake increase in UBS Securities China | 278 |
Equity attributable to non-controlling interests recognized upon consoldation resulting from the acquisition of stake increase in UBS Securities China | $ 136 |
Changes in organization and d_3
Changes in organization and disposals - Acquisitions (Narrative) (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Disclosure Of Acquisitions Of Businesses [Line Items] | |
Acquisition cost of assets and liabilities from Nordea's Luxembourg-based private banking business | € 120 |
Cash recognized resulting from the acquisition | 1,300 |
loans (mortgages, Lombard loans, overdrafts) recognized resulting from the acquisition | 1,100 |
Deposits recognized resulting from the acquisition | 2,400 |
Goodwill recognized resulting from the acquisition | 50 |
Intangible assets recognized resulting from the acquisition | 75 |
Increase of clients assets reported with acquisition | 9,500 |
Increase of clients assets reported with acquisition of which invested assets | 6,100 |
UBS AG | |
Disclosure Of Acquisitions Of Businesses [Line Items] | |
Acquisition cost of assets and liabilities from Nordea's Luxembourg-based private banking business | 120 |
Cash recognized resulting from the acquisition | 1,300 |
loans (mortgages, Lombard loans, overdrafts) recognized resulting from the acquisition | 1,100 |
Deposits recognized resulting from the acquisition | 2,400 |
Goodwill recognized resulting from the acquisition | 50 |
Intangible assets recognized resulting from the acquisition | 75 |
Increase of clients assets reported with acquisition | 9,500 |
Increase of clients assets reported with acquisition of which invested assets | € 6,100 |
Changes in organization and d_4
Changes in organization and disposals - Sales of subsidiaries and businesses (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | [1],[2] | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | [3] | $ (290) | $ 32 | $ (96) | |
A life insurance subsidiary within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Foreign exchange amounts reclassified to the income statement from equity | (24) | ||||
Fund administration servicing units within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 153 | ||||
UBS AG | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | [3] | $ (292) | 32 | (96) | |
UBS AG | A life insurance subsidiary within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Foreign exchange amounts reclassified to the income statement from equity | $ (24) | ||||
UBS AG | Fund administration servicing units within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | $ 153 | ||||
[1] | Includes a USD 25 million gain on sale of subsidiaries and a USD 31 million pre-tax gain on sale of real estate related to the sale of Widder Hotel. Refer to Note 32 for more information. | ||||
[2] | Includes a remeasurement loss of USD 270 million related to UBS Securities China. Refer to Note 32 for more information. | ||||
[3] | Includes foreign exchange gains / losses reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. As a result of the change in presentation currency, foreign exchange gains / losses were restated. Refer to Note 1b for more information |
Operating leases and finance _3
Operating leases and finance leases (Detail 1) $ in Millions | Dec. 31, 2018USD ($) |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | $ 4,688 |
Less: Sublease rental income commitments | 250 |
Net commitments for minimum payments under operating leases | 4,438 |
2019 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 684 |
2020 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 647 |
2021 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 543 |
2022 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 489 |
2023 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 449 |
2024 and thereafter | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 1,877 |
UBS AG | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 4,546 |
Less: Sublease rental income commitments | 250 |
Net commitments for minimum payments under operating leases | 4,296 |
UBS AG | 2019 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 658 |
UBS AG | 2020 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 622 |
UBS AG | 2021 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 528 |
UBS AG | 2022 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 474 |
UBS AG | 2023 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 434 |
UBS AG | 2024 and thereafter | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | $ 1,830 |
Operating leases and finance _4
Operating leases and finance leases (Detail 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Gross operating lease expense recognized in the income statement | $ 766 | $ 739 | $ 757 |
Sublease rental income | 52 | 68 | 79 |
Net operating lease expense recognized in the income statement | 714 | 671 | 678 |
UBS AG | |||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Gross operating lease expense recognized in the income statement | 663 | 697 | 745 |
Sublease rental income | 52 | 68 | 79 |
Net operating lease expense recognized in the income statement | $ 611 | $ 629 | $ 666 |
Operating leases and finance _5
Operating leases and finance leases (Detail 3) $ in Millions | Dec. 31, 2018USD ($) |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | $ 1,166 |
Unearned finance income | 58 |
Present value | 1,107 |
2019 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 359 |
Unearned finance income | 22 |
Present value | 337 |
2020-2023 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 703 |
Unearned finance income | 35 |
Present value | 669 |
Thereafter | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 103 |
Unearned finance income | 2 |
Present value | 102 |
UBS AG | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 1,166 |
Unearned finance income | 58 |
Present value | 1,107 |
UBS AG | 2019 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 359 |
Unearned finance income | 22 |
Present value | 337 |
UBS AG | 2020-2023 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 703 |
Unearned finance income | 35 |
Present value | 669 |
UBS AG | Thereafter | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 103 |
Unearned finance income | 2 |
Present value | $ 102 |
Operating leases and finance _6
Operating leases and finance leases (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Explanation Of Unguaranteed Residual Values Accruing To Benefit Of Lessor | USD 156 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | $ 7,000,000 |
Contingent Rents Recognised As Income | $ 0 |
UBS AG | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Explanation Of Unguaranteed Residual Values Accruing To Benefit Of Lessor | USD 156 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | $ 7,000,000 |
Contingent Rents Recognised As Income | $ 0 |
Guarantees, commitments and f_3
Guarantees, commitments and forward starting transactions (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [1] | $ 1,600 | $ 1,700 |
Sub-participations | (2,803) | (2,942) | |
Net irrevocable amount | 16,982 | 16,400 | |
Guarantees | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 1,639 | 1,662 | |
Guarantees | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 18,146 | 17,680 | |
Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Sub-participations | (647) | (1,102) | |
Net irrevocable amount | 34,099 | 38,977 | |
Loan commitments | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 3,535 | 7,954 | |
Loan commitments | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 31,212 | 32,125 | |
Forward starting transactions - reverse repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [2] | 8,117 | |
Forward starting transactions - reverse repurchase agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [2] | 925 | 13,011 |
Forward starting transactions - securities borrowing agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [2] | 12 | 24 |
Forward starting transactions - repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [2] | 7,926 | |
Forward starting transactions - repurchase agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [2] | 400 | 8,399 |
UBS AG | Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Sub-participations | (2,803) | (2,942) | |
Net irrevocable amount | 16,982 | 16,400 | |
UBS AG | Guarantees | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 1,639 | 1,662 | |
UBS AG | Guarantees | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 18,146 | 17,680 | |
UBS AG | Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Sub-participations | (647) | (1,102) | |
Net irrevocable amount | 34,099 | 38,977 | |
UBS AG | Loan commitments | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 3,535 | 7,954 | |
UBS AG | Loan commitments | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 31,212 | 32,125 | |
UBS AG | Forward starting transactions - reverse repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [3] | 8,117 | |
UBS AG | Forward starting transactions - reverse repurchase agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [3] | 925 | 13,011 |
UBS AG | Forward starting transactions - securities borrowing agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [3] | 12 | 24 |
UBS AG | Forward starting transactions - repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [3] | 7,926 | |
UBS AG | Forward starting transactions - repurchase agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | [3] | $ 400 | $ 8,399 |
[1] | Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. | ||
[2] | Cash to be paid in the future by either UBS or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. | ||
[3] | Cash to be paid in the future by either UBS AG or the counterparty. Certain reverse repurchase agreements and repurchase agreements were reclassified from amortized cost to fair value through profit or loss upon adoption of IFRS 9 as of 1 January 2018. Refer to Note 1c for more information. |
Related parties (Narrative) (De
Related parties (Narrative) (Detail) SFr in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017CHF (SFr)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016CHF (SFr) | Dec. 31, 2016USD ($) | |
Related Parties [Line Items] | ||||||
Payments to external board members | SFr 7.4 | $ 7.6 | SFr 7.1 | $ 7.1 | SFr 7.2 | $ 7.2 |
Number of shares held by close family members of key management personnel | 95,597 | 95,597 | 95,597 | 95,597 | ||
Number of shares held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members | 0 | 0 | 0 | 0 | ||
Description of ownership of UBS Group AG's shares by members of BoD or GEB | As of 31 December 2018, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | As of 31 December 2018, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | ||||
Description of related party transactions with entities controlled by key management personnel | In 2018 and 2017, UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 2018, 31 December 2017 and 31 December 2016, there were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. | In 2018 and 2017, UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 2018, 31 December 2017 and 31 December 2016, there were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. | ||||
UBS AG | ||||||
Related Parties [Line Items] | ||||||
Payments to external board members | SFr 7.4 | $ 7.6 | SFr 7.1 | $ 7.1 | SFr 7.2 | $ 7.2 |
Number of shares held by close family members of key management personnel | 95,597 | 95,597 | 95,597 | 95,597 | ||
Number of shares held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members | 0 | 0 | 0 | 0 | ||
Description of ownership of UBS Group AG's shares by members of BoD or GEB | As of 31 December 2018, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | As of 31 December 2018, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | ||||
Description of related party transactions with entities controlled by key management personnel | In 2018 and 2017, UBS AG did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS AG’s key management personnel or their close family members and as of 31 December 2018, 31 December 2017 and 31 December 2016, there were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS AG, and therefore did not receive any fees from UBS AG. UBS AG also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. | In 2018 and 2017, UBS AG did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS AG’s key management personnel or their close family members and as of 31 December 2018, 31 December 2017 and 31 December 2016, there were no outstanding balances related to such transactions. Furthermore, in 2018 and 2017, entities controlled by key management personnel did not sell any goods or provide any services to UBS AG, and therefore did not receive any fees from UBS AG. UBS AG also did not provide services to such entities in 2018 and 2017, and therefore also received no fees. |
Related parties (Detail 1)
Related parties (Detail 1) SFr in Millions, $ in Millions | 12 Months Ended | |||||||||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2018USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | Dec. 31, 2016CHF (SFr) | Dec. 31, 2016USD ($) | |||||
Remuneration Of Key Management Personnel [Line Items] | ||||||||||
Base salaries and other cash payments | [1] | $ 27 | $ 25 | $ 25 | ||||||
Incentive awards - cash | [2] | 15 | 15 | 11 | ||||||
Annual incentive award under DCCP | 22 | 22 | 22 | |||||||
Employer's contributions to retirement benefit plans | 3 | 3 | 3 | |||||||
Benefits in kind, fringe benefits (at market value) | 2 | 2 | 2 | |||||||
Equity-based compensation | [3] | 40 | 40 | 42 | ||||||
Total | SFr 107 | [4] | $ 109 | SFr 106 | [4] | $ 106 | SFr 104 | [4] | $ 105 | |
Vesting period of shares granted to key management personnel | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Applicable performance award currency exchange rate | 0.98 | 0.98 | 1 | 1 | 0.99 | 0.99 | ||||
UBS AG | ||||||||||
Remuneration Of Key Management Personnel [Line Items] | ||||||||||
Base salaries and other cash payments | [1] | $ 25 | $ 24 | $ 24 | ||||||
Incentive awards - cash | [2] | 14 | 13 | 10 | ||||||
Annual incentive award under DCCP | 21 | 20 | 20 | |||||||
Employer's contributions to retirement benefit plans | 3 | 3 | 2 | |||||||
Benefits in kind, fringe benefits (at market value) | 2 | 2 | 2 | |||||||
Equity-based compensation | [3] | 38 | 36 | 39 | ||||||
Total | SFr 100 | [4] | $ 102 | SFr 98 | [4] | $ 98 | SFr 97 | [4] | $ 98 | |
Vesting period of shares granted to key management personnel | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Applicable performance award currency exchange rate | 0.98 | 0.98 | 1 | 1 | 0.99 | 0.99 | ||||
[1] | Includes role-based allowances in line with market practice in response to regulatory requirements | |||||||||
[2] | The cash portion may also include blocked shares in line with regulatory requirements. | |||||||||
[3] | Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period of generally 5 years. Refer to Note 30 for more information. In 2018, 2017 and 2016, equity-based compensation was entirely comprised of EOP awards. | |||||||||
[4] | Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2018: CHF / USD 0.98; 2017: CHF / USD 1.00; 2016: CHF / USD 0.99). |
Related parties (Detail 2)
Related parties (Detail 2) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Equity Holdings Of Key Management Personnel [Line Items] | |||
Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members | 0 | 398,867 | |
Number of shares held by members of the BoD, GEB and parties closely linked to them | [1] | 5,954,967 | 3,709,539 |
UBS AG | |||
Equity Holdings Of Key Management Personnel [Line Items] | |||
Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members | 0 | 398,867 | |
Number of shares held by members of the BoD, GEB and parties closely linked to them | [1] | 5,676,989 | 3,709,539 |
[1] | Excludes shares granted under variable compensation plans with forfeiture provisions. |
Related parties (Detail 3)
Related parties (Detail 3) | 12 Months Ended | ||||||||||
Dec. 31, 2018CHF (SFr) | Dec. 31, 2018USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | ||||||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | |||||||||||
Balance at the beginning of the year | SFr 41,000,000 | $ 42,000,000 | [1],[2] | $ 42,000,000 | [1],[2] | ||||||
Additions | [1] | 15,000,000 | 2,000,000 | ||||||||
Reductions | [1] | (22,000,000) | (1,000,000) | ||||||||
Balance at the end of the year | 34,000,000 | 34,000,000 | [1],[2] | SFr 41,000,000 | 42,000,000 | [1],[2] | |||||
Unused uncommitted credit facilities of one GEB and one BoD member | 2,949,690 | 5,196,294 | $ 3,000,000 | $ 5,330,670 | |||||||
UBS AG | |||||||||||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | |||||||||||
Balance at the beginning of the year | [3] | 34,000,000 | [1],[4] | 35,000,000 | 34,000,000 | [1] | |||||
Additions | [1] | 15,000,000 | 2,000,000 | ||||||||
Reductions | [1] | (22,000,000) | (1,000,000) | ||||||||
Balance at the end of the year | [3] | 27,000,000 | [1],[4] | $ 28,000,000 | 34,000,000 | [1],[4] | $ 35,000,000 | ||||
Unused uncommitted credit facilities of one GEB and one BoD member | SFr 2,949,690 | SFr 5,196,294 | $ 3,000,000 | $ 5,330,670 | |||||||
[1] | All loans are secured loans | ||||||||||
[2] | Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two GEB members and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. | ||||||||||
[3] | Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018 and for two EB and one BoD member of USD 5,330,670 (CHF 5,196,294) as of 31 December 2017. | ||||||||||
[4] | Swiss franc amounts disclosed represent the respective US dollar amounts translated at the relevant year-end closing exchange rate. |
Related parties (Detail 4)
Related parties (Detail 4) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying value at the beginning of the year | $ 565 | $ 464 |
Additions | 276 | 83 |
Reductions | (13) | (3) |
Foreign currency translation | 0 | 21 |
Carrying value at the end of the year | 829 | 565 |
of which: unsecured loans | 818 | 554 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 177 | 180 |
Fees received for services provided to associates and joint ventures | 4 | 2 |
Commitments and contingent liabilities to associates and joint ventures | 4 | 4 |
UBS AG | ||
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying value at the beginning of the year | 565 | 464 |
Additions | 276 | 83 |
Reductions | (13) | (3) |
Foreign currency translation | 0 | 21 |
Carrying value at the end of the year | 829 | 565 |
of which: unsecured loans | 818 | 554 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 177 | 180 |
Fees received for services provided to associates and joint ventures | 4 | 2 |
Commitments and contingent liabilities to associates and joint ventures | $ 4 | $ 4 |
Related parties (Detail 5)
Related parties (Detail 5) - UBS AG - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | ||
Receivables | ||||||
Loans and advances to customers | $ 1,161 | $ 2,208 | ||||
Financial assets at fair value held for trading | 139 | 101 | ||||
Other financial assets measured at amortized cost | 105 | 116 | ||||
Payables | ||||||
Customer deposits | 2,152 | 3,489 | ||||
Funding from UBS Group AG and its subsidiaries | 41,202 | [1] | $ 35,648 | 35,648 | [1] | $ 24,201 |
Other financial liabilities measured at amortized cost | $ 1,711 | $ 1,587 | ||||
[1] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. |
Invested assets and net new m_3
Invested assets and net new money (Detail 1) - USD ($) $ in Billions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | $ 342 | $ 339 | ||
Discretionary assets | 999 | 1,052 | ||
Other invested assets | 1,760 | 1,871 | ||
Total invested assets | [1] | 3,101 | 3,262 | $ 2,761 |
of which: double counts | 213 | 209 | ||
Net new money | [1] | 59 | 106 | |
UBS AG | ||||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | 342 | 339 | ||
Discretionary assets | 999 | 1,052 | ||
Other invested assets | 1,760 | 1,871 | ||
Total invested assets | [1] | 3,101 | 3,262 | $ 2,761 |
of which: double counts | 213 | 209 | ||
Net new money | [1] | $ 59 | $ 106 | |
[1] | Includes double counts. |
Invested assets and net new m_4
Invested assets and net new money (Detail 2) - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1] | $ 3,262 | $ 2,761 |
Net new money | [1] | 59 | 106 |
Market movements | [2] | (180) | 322 |
Foreign currency translation | (35) | 77 | |
Other effects | (5) | (3) | |
of which: acquisitions / (divestments) | 7 | 4 | |
Total invested assets at the end of the year | [1] | 3,101 | 3,262 |
UBS AG | |||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1] | 3,262 | 2,761 |
Net new money | [1] | 59 | 106 |
Market movements | [2] | (180) | 322 |
Foreign currency translation | (35) | 77 | |
Other effects | (5) | (3) | |
of which: acquisitions / (divestments) | 7 | 4 | |
Total invested assets at the end of the year | [1] | $ 3,101 | $ 3,262 |
[1] | Includes double counts. | ||
[2] | Includes interest and dividend income. |
Currency translation rates (Det
Currency translation rates (Detail) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
1 CHF | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.02 | 1.03 | ||
Average rate | [1] | 1.02 | 1.02 | 1.01 |
1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.15 | 1.2 | ||
Average rate | [1] | 1.18 | 1.14 | 1.1 |
1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.28 | 1.35 | ||
Average rate | [1] | 1.33 | 1.3 | 1.34 |
100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 0.91 | 0.89 | ||
Average rate | [1] | 0.91 | 0.89 | 0.92 |
UBS AG | 1 CHF | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.02 | 1.03 | ||
Average rate | [1] | 1.02 | 1.02 | 1.01 |
UBS AG | 1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.15 | 1.2 | ||
Average rate | [1] | 1.18 | 1.14 | 1.1 |
UBS AG | 1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.28 | 1.35 | ||
Average rate | [1] | 1.33 | 1.3 | 1.34 |
UBS AG | 100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 0.91 | 0.89 | ||
Average rate | [1] | 0.91 | 0.89 | 0.92 |
[1] | Monthly income statement items of operations with a functional currency other than the US dollar are translated with month-end rates into US dollars. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
Events after the reporting pe_2
Events after the reporting period (Narrative) (Detail) - Adjusting events subsequent to the publication of the unaudited fourth quarter 2018 report $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)$ / shares | |
Disclosure Of Adjusting Events After Reporting Period [Line Items] | |
Increase (decrease) in operating profit before tax | $ (382) |
Increase (decrease) in net profit attributable to shareholders | $ (382) |
Increase (decrease) in basic earnings per share | $ / shares | $ (0.1) |
Increase (decrease) in diluted earnings per share | $ / shares | $ (0.09) |
UBS AG | |
Disclosure Of Adjusting Events After Reporting Period [Line Items] | |
Increase (decrease) in operating profit before tax | $ (382) |
Increase (decrease) in net profit attributable to shareholders | $ (382) |
Main differences between IFRS_2
Main differences between IFRS and Swiss GAAP (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Goodwill, maximum useful life (in years) | 5 years |
Goodwill, maximum useful life for justified exceptional cases (in years) | 10 years |
Intangible assets with indefinite lives, maximum useful life (in years) | 5 years |
Intangible assets with indefinite lives, maximum useful life for justified exceptional cases (in years) | 10 years |
UBS AG [Member] | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Goodwill, maximum useful life (in years) | 5 years |
Goodwill, maximum useful life for justified exceptional cases (in years) | 10 years |
Intangible assets with indefinite lives, maximum useful life (in years) | 5 years |
Intangible assets with indefinite lives, maximum useful life for justified exceptional cases (in years) | 10 years |
Supplemental guarantor inform_3
Supplemental guarantor information (Narrative) (Detail) - UBS AG $ in Billions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Supplemental Guarantor Information [Line Items] | |
Joint and several liability | $ 26 |
Increase decrease in joint and several liability | $ (45) |
Supplemental guarantor consolid
Supplemental guarantor consolidated income statement (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Condensed Income Statements Captions [Line Items] | ||||||
Net interest income | $ 6,025 | $ 6,656 | $ 6,487 | |||
Other net income from fair value changes on financial instruments | 5,984 | 5,065 | 5,023 | |||
Credit loss (expense) / recovery | [1] | (118) | (131) | (38) | ||
Fee and commission income | [2],[3] | 19,598 | 19,362 | 18,374 | ||
Fee and commission expense | [3] | (1,703) | (1,840) | (1,781) | ||
Net fee and commission income | [3] | 17,895 | 17,522 | 16,593 | ||
Other income | 427 | 511 | 663 | |||
Total operating income | [1] | 30,213 | 29,622 | [4] | 28,729 | [4] |
Personnel expenses | [1] | 16,132 | 16,199 | 15,913 | ||
General and administrative expenses | [1] | 6,797 | 6,949 | 7,517 | ||
Depreciation and impairment of property, equipment and software | [1] | 1,228 | 1,053 | 997 | ||
Amortization and impairment of intangible assets | [1] | 65 | 71 | 93 | ||
Total operating expenses | [1] | 24,222 | 24,272 | 24,519 | ||
Operating profit / (loss) before tax | [1] | 5,991 | 5,351 | 4,209 | ||
Tax expense / (benefit) | [1] | 1,468 | 4,305 | 777 | ||
Net profit / (loss) | [1],[5] | 4,522 | 1,046 | 3,432 | ||
Net profit / (loss) attributable to non-controlling interests | 7 | 77 | 84 | |||
Net profit / (loss) attributable to shareholders | 4,516 | 969 | 3,348 | |||
UBS AG (consolidated) | ||||||
Condensed Income Statements Captions [Line Items] | ||||||
Interest income | 17,095 | 14,492 | 13,954 | |||
Interest expense | (11,147) | (7,886) | (7,497) | |||
Net interest income | 5,949 | 6,607 | 6,457 | |||
Other net income from fair value changes on financial instruments | 5,977 | 5,067 | 5,018 | |||
Credit loss (expense) / recovery | [1] | (117) | (131) | (38) | ||
Fee and commission income | [6],[7] | 19,632 | 19,390 | 18,425 | ||
Fee and commission expense | [7] | (1,703) | (1,840) | (1,781) | ||
Net fee and commission income | [7] | 17,930 | 17,550 | 16,644 | ||
Other income | 905 | 952 | 749 | |||
Total operating income | [1] | 30,642 | 30,044 | [4] | 28,831 | [4] |
Personnel expenses | [1],[8] | 13,992 | 14,952 | 15,782 | ||
General and administrative expenses | [1] | 10,075 | 9,001 | 7,776 | ||
Depreciation and impairment of property, equipment and software | [1] | 1,052 | 945 | 992 | ||
Amortization and impairment of intangible assets | [1] | 65 | 71 | 93 | ||
Total operating expenses | [1] | 25,184 | 24,969 | 24,643 | ||
Operating profit / (loss) before tax | [1] | 5,458 | 5,076 | 4,188 | ||
Tax expense / (benefit) | [1] | 1,345 | 4,242 | 753 | ||
Net profit / (loss) | [1],[5] | 4,113 | 834 | 3,435 | ||
Net profit / (loss) attributable to preferred noteholders | 73 | 80 | ||||
Net profit / (loss) attributable to non-controlling interests | 7 | 4 | 4 | |||
Net profit / (loss) attributable to shareholders | 4,107 | 758 | 3,351 | |||
UBS AG (consolidated) | Elimination entries | ||||||
Condensed Income Statements Captions [Line Items] | ||||||
Interest income | (2,963) | (2,338) | (2,086) | |||
Interest expense | 3,001 | 2,245 | 1,900 | |||
Net interest income | 38 | (93) | (187) | |||
Other net income from fair value changes on financial instruments | (110) | 64 | (323) | |||
Credit loss (expense) / recovery | (19) | 40 | 0 | |||
Fee and commission income | (656) | (911) | (804) | |||
Fee and commission expense | 648 | 865 | 763 | |||
Net fee and commission income | (8) | (46) | (41) | |||
Other income | (6,125) | (6,616) | (9,825) | |||
Total operating income | (6,223) | (6,651) | (10,375) | |||
Personnel expenses | 0 | 0 | 0 | |||
General and administrative expenses | (3,490) | (5,081) | (6,710) | |||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | |||
Amortization and impairment of intangible assets | 0 | 0 | 0 | |||
Total operating expenses | (3,490) | (5,081) | (6,710) | |||
Operating profit / (loss) before tax | (2,733) | (1,570) | (3,665) | |||
Tax expense / (benefit) | 73 | 0 | (7) | |||
Net profit / (loss) | (2,806) | (1,570) | (3,658) | |||
Net profit / (loss) attributable to preferred noteholders | 0 | 0 | ||||
Net profit / (loss) attributable to non-controlling interests | 0 | 0 | 0 | |||
Net profit / (loss) attributable to shareholders | (2,806) | (1,569) | (3,658) | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | ||||||
Condensed Income Statements Captions [Line Items] | ||||||
Interest income | [9] | 10,259 | 8,806 | 8,605 | ||
Interest expense | [9] | (9,924) | (7,259) | (6,778) | ||
Net interest income | [9] | 336 | 1,547 | 1,827 | ||
Other net income from fair value changes on financial instruments | [9] | 4,372 | 3,397 | 3,774 | ||
Credit loss (expense) / recovery | [9] | (37) | (139) | (25) | ||
Fee and commission income | [9] | 2,655 | 2,561 | 2,356 | ||
Fee and commission expense | [9] | (851) | (968) | (839) | ||
Net fee and commission income | [9] | 1,804 | 1,594 | 1,517 | ||
Other income | [9] | 4,722 | 4,382 | 8,305 | ||
Total operating income | [9] | 11,196 | 10,780 | 15,399 | ||
Personnel expenses | [9] | 3,592 | 4,488 | 5,761 | ||
General and administrative expenses | [9] | 4,691 | 4,922 | 5,278 | ||
Depreciation and impairment of property, equipment and software | [9] | 715 | 664 | 708 | ||
Amortization and impairment of intangible assets | [9] | 3 | 8 | 22 | ||
Total operating expenses | [9] | 9,001 | 10,082 | 11,769 | ||
Operating profit / (loss) before tax | [9] | 2,195 | 698 | 3,630 | ||
Tax expense / (benefit) | [9] | 25 | 458 | 917 | ||
Net profit / (loss) | [9] | 2,170 | 240 | 2,713 | ||
Net profit / (loss) attributable to preferred noteholders | [9] | 73 | 80 | |||
Net profit / (loss) attributable to non-controlling interests | [9] | 0 | 0 | 0 | ||
Net profit / (loss) attributable to shareholders | [9] | 2,170 | 168 | 2,633 | ||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | ||||||
Condensed Income Statements Captions [Line Items] | ||||||
Interest income | [9] | 4,266 | 4,065 | 4,207 | ||
Interest expense | [9] | (901) | (680) | (724) | ||
Net interest income | [9] | 3,365 | 3,385 | 3,483 | ||
Other net income from fair value changes on financial instruments | [9] | 887 | 918 | 790 | ||
Credit loss (expense) / recovery | [9] | (52) | (23) | (3) | ||
Fee and commission income | [9] | 4,474 | 4,424 | 4,192 | ||
Fee and commission expense | [9] | (391) | (380) | (363) | ||
Net fee and commission income | [9] | 4,083 | 4,045 | 3,828 | ||
Other income | [9] | 198 | 170 | 352 | ||
Total operating income | [9] | 8,480 | 8,495 | 8,450 | ||
Personnel expenses | [9] | 1,890 | 2,060 | 2,070 | ||
General and administrative expenses | [9] | 3,471 | 3,400 | 3,549 | ||
Depreciation and impairment of property, equipment and software | [9] | 21 | 11 | 12 | ||
Amortization and impairment of intangible assets | [9] | 0 | 0 | 0 | ||
Total operating expenses | [9] | 5,382 | 5,472 | 5,631 | ||
Operating profit / (loss) before tax | [9] | 3,098 | 3,023 | 2,819 | ||
Tax expense / (benefit) | [9] | 670 | 628 | 597 | ||
Net profit / (loss) | [9] | 2,428 | 2,395 | 2,222 | ||
Net profit / (loss) attributable to preferred noteholders | [9] | 0 | 0 | |||
Net profit / (loss) attributable to non-controlling interests | [9] | 0 | 0 | 0 | ||
Net profit / (loss) attributable to shareholders | [9] | 2,428 | 2,395 | 2,222 | ||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | ||||||
Condensed Income Statements Captions [Line Items] | ||||||
Interest income | [10] | 5,533 | 3,959 | 3,229 | ||
Interest expense | [10] | (3,323) | (2,192) | (1,895) | ||
Net interest income | [10] | 2,210 | 1,767 | 1,334 | ||
Other net income from fair value changes on financial instruments | [10] | 828 | 688 | 777 | ||
Credit loss (expense) / recovery | [10] | (9) | (9) | (10) | ||
Fee and commission income | [10] | 13,159 | 13,315 | 12,681 | ||
Fee and commission expense | [10] | (1,109) | (1,357) | (1,342) | ||
Net fee and commission income | [10] | 12,050 | 11,958 | 11,339 | ||
Other income | [10] | 2,110 | 3,017 | 1,917 | ||
Total operating income | [10] | 17,189 | 17,420 | 15,357 | ||
Personnel expenses | [10] | 8,510 | 8,403 | 7,952 | ||
General and administrative expenses | [10] | 5,403 | 5,760 | 5,659 | ||
Depreciation and impairment of property, equipment and software | [10] | 316 | 270 | 272 | ||
Amortization and impairment of intangible assets | [10] | 62 | 63 | 70 | ||
Total operating expenses | [10] | 14,291 | 14,496 | 13,953 | ||
Operating profit / (loss) before tax | [10] | 2,898 | 2,924 | 1,404 | ||
Tax expense / (benefit) | [10] | 577 | 3,156 | (753) | ||
Net profit / (loss) | [10] | 2,321 | (232) | 2,157 | ||
Net profit / (loss) attributable to preferred noteholders | [10] | 0 | 0 | |||
Net profit / (loss) attributable to non-controlling interests | [10] | 7 | 4 | 4 | ||
Net profit / (loss) attributable to shareholders | [10] | $ 2,314 | $ (236) | $ 2,153 | ||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | |||||
[2] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,525 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 97 million for Corporate Center. | |||||
[3] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||||
[4] | 2017 and 2016 figures have been restated for the change of the presentation currency from Swiss francs to US dollars. Refer to Note 1b item 1 for more information. In addition, 2017 and 2016 figures have been restated to reflect the regional representation of Global Wealth Management after combining Wealth Management and Wealth Management Americas in 2018. Refer to Note 1b item 3 for more information. | |||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | |||||
[6] | Reflects third-party fee and commission income of USD 12,059 million for Global Wealth Management, USD 3,557 million for the Investment Bank, USD 2,579 million for Asset Management, USD 1,338 million for Personal & Corporate Banking and USD 100 million for Corporate Center. | |||||
[7] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior-period information restated accordingly. This resulted in the following effects: For the year ended 31 December 2017, USD 316 million was reclassified from Underwriting fees to Brokerage fees and USD 1,040 million was reclassified from Portfolio management and related services to Investment fund fees. For the year ended 31 December 2016, USD 220 million was reclassified from Underwriting fees to Brokerage fees and USD 1,061 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily affecting clearing costs, client loyalty costs, fund and custody expenses. As the effect of this reclassification was not material, prior-period information was not restated | |||||
[8] | The decrease in 2018 and 2017 compared with 2016 was mainly due to the transfer of shared services functions in Switzerland and the UK from UBS AG to UBS Business Solutions AG in the second quarter and fourth quarter of 2017, respectively. Refer to Note 32 for more information. | |||||
[9] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||||
[10] | Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Supplemental guarantor consol_2
Supplemental guarantor consolidated statement of comprehensive income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [1],[2] | $ 4,522 | $ 1,046 | $ 3,432 | |||
Foreign currency translation, net of tax | (1) | 250 | (22) | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (855) | 838 | (1,200) | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 56 | 296 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
Total other comprehensive income | (292) | 1,068 | (2,181) | ||||
Total comprehensive income | 4,231 | 2,113 | 1,251 | ||||
OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | (855) | 838 | (1,200) | ||||
OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | 563 | 229 | (981) | ||||
Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 4,516 | 969 | 3,348 | ||||
Foreign currency translation, net of tax | 0 | 0 | 0 | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (855) | 838 | (1,200) | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 56 | 296 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 565 | (20) | (959) | ||||
Total other comprehensive income | (290) | 818 | (2,159) | ||||
Total comprehensive income | 4,225 | 1,787 | 1,189 | ||||
Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | (541) | 1,564 | (458) | ||||
Financial assets measured at fair value through other comprehensive income, net of tax | (45) | (91) | (58) | ||||
Cash flow hedges, net of tax | (269) | (635) | (684) | ||||
Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | 56 | 296 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
Comprehensive income attributable to non-controlling interests | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 7 | 77 | 84 | ||||
Foreign currency translation, net of tax | (1) | 250 | (22) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (1) | 250 | (22) | ||||
Total other comprehensive income | (1) | 250 | (22) | ||||
Total comprehensive income | 5 | 326 | 62 | ||||
Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | (1) | 250 | (22) | ||||
UBS AG (consolidated) | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [1],[2] | 4,113 | 834 | 3,435 | |||
Foreign currency translation, net of tax | (1) | 250 | (22) | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (829) | 797 | (1,146) | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 175 | 314 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
Total other comprehensive income | (147) | 1,044 | (2,127) | ||||
Total comprehensive income | 3,967 | 1,878 | 1,308 | ||||
UBS AG (consolidated) | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | (829) | 797 | (1,146) | ||||
UBS AG (consolidated) | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | 682 | 247 | (981) | ||||
UBS AG (consolidated) | Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 4,107 | 758 | 3,351 | ||||
Foreign currency translation, net of tax | 0 | 0 | 0 | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (829) | 797 | (1,146) | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 175 | 314 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 684 | (3) | (959) | ||||
Total other comprehensive income | (145) | 794 | (2,105) | ||||
Total comprehensive income | 3,961 | 1,552 | 1,246 | ||||
UBS AG (consolidated) | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | (515) | 1,522 | (404) | ||||
Financial assets measured at fair value through other comprehensive income, net of tax | (45) | (91) | (58) | ||||
Cash flow hedges, net of tax | (269) | (635) | (684) | ||||
UBS AG (consolidated) | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | 175 | 314 | (829) | ||||
Own credit on financial liabilities designated at fair value, net of tax | 509 | (317) | (130) | ||||
UBS AG (consolidated) | Comprehensive income attributable to preferred noteholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 0 | 73 | 80 | ||||
Foreign currency translation, net of tax | 247 | (21) | |||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 247 | (21) | ||||
Total other comprehensive income | 0 | 247 | (21) | ||||
Total comprehensive income | 0 | 320 | 59 | ||||
UBS AG (consolidated) | Comprehensive income attributable to preferred noteholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | 0 | 247 | (21) | ||||
UBS AG (consolidated) | Comprehensive income attributable to non-controlling interests | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 7 | 4 | 4 | ||||
Foreign currency translation, net of tax | (1) | 2 | (1) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (1) | 2 | (1) | ||||
Total other comprehensive income | (1) | 2 | (1) | ||||
Total comprehensive income | 5 | 6 | 3 | ||||
UBS AG (consolidated) | Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | (1) | 2 | (1) | ||||
UBS AG (consolidated) | Elimination entries | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | (2,806) | (1,570) | (3,658) | ||||
Total comprehensive income | (3,071) | (317) | (4,124) | ||||
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | (2,806) | (1,569) | (3,658) | ||||
Total other comprehensive income | (265) | 1,252 | (467) | ||||
Total comprehensive income | (3,071) | (317) | (4,124) | ||||
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | (252) | 1,318 | (474) | ||||
Financial assets measured at fair value through other comprehensive income, net of tax | 0 | (93) | 3 | ||||
Cash flow hedges, net of tax | (13) | 2 | 30 | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (265) | 1,226 | (441) | ||||
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | 0 | 26 | (25) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 26 | (25) | ||||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [3] | 2,170 | 240 | 2,713 | |||
Total comprehensive income | [4] | 2,122 | 2,148 | 622 | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [4] | 2,170 | 168 | 2,633 | |||
Total other comprehensive income | [4] | (48) | 1,660 | (2,070) | |||
Total comprehensive income | [4] | 2,122 | 1,828 | 563 | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | [4] | (369) | 2,177 | (467) | |||
Financial assets measured at fair value through other comprehensive income, net of tax | 0 | [3] | (10) | [4] | 0 | [4] | |
Cash flow hedges, net of tax | [4] | (277) | (474) | (815) | |||
Total other comprehensive income that may be reclassified to the income statement, net of tax | [4] | (646) | 1,693 | (1,282) | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | [4] | 89 | 284 | (659) | |||
Own credit on financial liabilities designated at fair value, net of tax | [4] | 509 | (317) | (130) | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [4] | 598 | (33) | (788) | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to preferred noteholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total comprehensive income | [4] | 320 | 59 | ||||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [3] | 2,428 | 2,395 | 2,222 | |||
Total comprehensive income | [4] | 2,195 | 2,713 | 2,011 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [4] | 2,428 | 2,395 | 2,222 | |||
Total other comprehensive income | [4] | (233) | 318 | (211) | |||
Total comprehensive income | [4] | 2,195 | 2,713 | 2,011 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | [4] | (109) | 500 | (228) | |||
Financial assets measured at fair value through other comprehensive income, net of tax | 0 | [3] | 2 | [4] | (36) | [4] | |
Cash flow hedges, net of tax | [4] | 2 | (162) | 102 | |||
Total other comprehensive income that may be reclassified to the income statement, net of tax | [4] | (107) | 340 | (163) | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | [4] | (126) | (22) | (49) | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [4] | (126) | (22) | (49) | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [5] | 2,321 | (232) | 2,157 | |||
Total comprehensive income | [6] | 2,721 | (2,665) | 2,799 | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | [6] | 2,314 | (236) | 2,153 | |||
Total other comprehensive income | [6] | 401 | (2,436) | 643 | |||
Total comprehensive income | [6] | 2,715 | (2,672) | 2,796 | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | [6] | 215 | (2,473) | 765 | |||
Financial assets measured at fair value through other comprehensive income, net of tax | [6] | (45) | 11 | (25) | |||
Cash flow hedges, net of tax | [6] | 19 | (1) | 0 | |||
Total other comprehensive income that may be reclassified to the income statement, net of tax | [6] | 189 | (2,463) | 739 | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Gains / (losses) recognized in other comprehensive income, net of tax | [6] | 212 | 27 | (97) | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [6] | 212 | 27 | (97) | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to non-controlling interests | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total comprehensive income | [6] | $ 5 | $ 6 | $ 3 | |||
[1] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | ||||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | ||||||
[3] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | ||||||
[4] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | ||||||
[5] | Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. | ||||||
[6] | Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Supplemental guarantor consol_3
Supplemental guarantor consolidated balance sheet (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | ||||
Assets | |||||||||
Cash and balances at central banks | $ 108,370 | $ 90,045 | $ 90,045 | $ 105,883 | |||||
Loans and advances to banks | 16,868 | 14,074 | 14,094 | 12,926 | |||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | |||||
Cash collateral receivables on derivative instruments | 23,602 | 24,040 | 24,040 | 26,198 | |||||
Loans and advances to customers | 320,352 | 318,480 | 326,746 | 300,010 | |||||
Other financial assets measured at amortized cost | 22,563 | 18,775 | 37,815 | 27,115 | |||||
Total financial assets measured at amortized cost | 587,104 | 552,277 | 584,691 | 552,068 | |||||
Financial assets at fair value held for trading | 104,370 | [1] | 118,256 | 129,407 | [1] | 90,416 | |||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | |||||
Derivative financial instruments | 126,210 | [2],[3],[4],[5] | 121,285 | 121,285 | [2],[3],[4],[5] | 155,642 | |||
Brokerage receivables | 16,840 | 24,403 | |||||||
Financial assets at fair value not held for trading | 82,690 | [6] | 80,985 | 60,457 | [6] | 64,210 | |||
Total financial assets measured at fair value through profit or loss | 330,110 | 344,928 | 311,148 | 310,269 | |||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | |||
Investments in subsidiaries | 1,099 | 1,045 | 947 | $ 947 | |||||
Property, equipment and software | 9,348 | [8],[9] | 9,057 | 9,057 | [8],[9] | 8,186 | 8,186 | ||
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | |||||
Deferred tax assets | 10,105 | [10] | 10,182 | 10,056 | [10] | 13,158 | |||
Other non-financial assets | 7,410 | 7,830 | 7,830 | 12,434 | |||||
Total assets | 958,489 | [11] | 938,812 | 939,279 | [11] | 918,906 | 918,906 | [11] | |
Liabilities | |||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | |||||
Payables from securities financing transactions | 10,296 | 12,273 | 17,485 | 9,266 | |||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | |||||
Customer deposits | 419,838 | 414,172 | 419,577 | 416,267 | |||||
Debt issued measured at amortized cost | 132,271 | [12] | 143,160 | 143,160 | [12] | 101,837 | |||
Other financial liabilities measured at amortized cost | 6,885 | 37,276 | 37,729 | ||||||
Total financial liabilities measured at amortized cost | 609,158 | 656,255 | 610,410 | ||||||
Financial liabilities at fair value held for trading | 28,943 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,425 | |||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,196 | 119,137 | [2],[3],[5],[13],[15] | 151,121 | |||
Brokerage payables designated at fair value | 38,420 | ||||||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | ||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | ||||||
Total financial liabilities measured at fair value through profit or loss | 283,711 | 217,813 | 236,725 | ||||||
Provisions | 3,494 | 3,290 | 3,214 | 4,101 | |||||
Other non-financial liabilities | 9,022 | 9,443 | 9,443 | 14,083 | |||||
Total liabilities | 905,386 | 886,851 | 886,725 | 865,320 | |||||
Equity | |||||||||
Equity attributable to shareholders | 52,928 | 51,905 | 52,495 | 52,916 | |||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 670 | |||||
Total equity | 53,103 | 51,938 | 52,554 | 53,586 | |||||
Total liabilities and equity | 958,489 | 938,812 | 939,279 | 918,906 | |||||
UBS AG (consolidated) | |||||||||
Assets | |||||||||
Cash and balances at central banks | 108,370 | 90,045 | 90,045 | 105,883 | |||||
Loans and advances to banks | 16,642 | 14,027 | 14,047 | 12,896 | |||||
Receivables from securities financing transactions | 95,349 | 86,864 | 91,951 | 79,936 | |||||
Cash collateral receivables on derivative instruments | 23,603 | 24,040 | 24,040 | 26,198 | |||||
Loans and advances to customers | 321,482 | 320,687 | 328,952 | 300,678 | |||||
Other financial assets measured at amortized cost | 22,637 | 18,850 | 37,890 | 27,130 | |||||
Total financial assets measured at amortized cost | 588,084 | 554,512 | 586,925 | 552,721 | |||||
Financial assets at fair value held for trading | 104,513 | [1] | 118,359 | 129,509 | [1] | 90,501 | |||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 32,121 | 36,277 | 36,277 | 29,731 | |||||
Derivative financial instruments | 126,212 | [2],[3],[4],[5] | 121,286 | 121,286 | [2],[3],[4],[5] | 155,642 | |||
Brokerage receivables | 16,840 | 24,403 | |||||||
Financial assets at fair value not held for trading | 82,387 | [6] | 80,598 | 60,070 | [6] | 63,888 | |||
Total financial assets measured at fair value through profit or loss | 329,953 | 344,646 | 310,865 | 310,031 | |||||
Financial assets measured at fair value through other comprehensive income | 6,667 | [7] | 6,930 | 8,889 | [7] | 15,402 | |||
Investments in subsidiaries | 1,099 | 1,045 | 947 | 947 | |||||
Property, equipment and software | 8,479 | [17],[18] | 8,191 | 8,191 | [17],[18] | 8,152 | 8,152 | ||
Goodwill and intangible assets | 6,647 | 6,563 | 6,563 | 6,442 | |||||
Deferred tax assets | 10,066 | [10] | 10,118 | 9,993 | [10] | 13,147 | |||
Other non-financial assets | 7,062 | 7,548 | 7,548 | 12,395 | |||||
Total assets | 958,055 | [11] | 939,554 | 940,020 | [11] | 919,236 | $ 919,236 | [11] | |
Liabilities | |||||||||
Amounts due to banks | 10,962 | 7,728 | 7,728 | 10,459 | |||||
Payables from securities financing transactions | 10,296 | 12,272 | 17,485 | 9,266 | |||||
Cash collateral payables on derivative instruments | 28,906 | 31,029 | 31,029 | 34,852 | |||||
Customer deposits | 421,986 | 417,653 | 423,058 | 418,129 | |||||
Funding from UBS Group AG and its subsidiaries | 41,202 | [19] | 35,648 | 35,648 | [19] | 24,201 | |||
Debt issued measured at amortized cost | 91,245 | [12] | 107,458 | 107,458 | [12] | 77,617 | |||
Other financial liabilities measured at amortized cost | 7,576 | 38,092 | 38,361 | ||||||
Total financial liabilities measured at amortized cost | 612,174 | 660,498 | 612,884 | ||||||
Financial liabilities at fair value held for trading | 28,949 | [1],[13],[14] | 31,251 | 31,251 | [1],[13] | 22,426 | |||
Derivative financial instruments | 125,723 | [2],[3],[5],[13],[15] | 119,197 | 119,138 | [2],[3],[5],[13],[15] | 151,121 | |||
Brokerage payables designated at fair value | 38,420 | ||||||||
Other financial liabilities designated at fair value | 33,594 | [16] | 16,643 | [16] | 14,122 | ||||
Debt issued designated at fair value | 57,031 | 50,782 | 49,057 | ||||||
Total financial liabilities measured at fair value through profit or loss | 283,717 | 217,814 | 236,727 | ||||||
Provisions | 3,457 | 3,240 | 3,164 | 4,097 | |||||
Other non-financial liabilities | 6,275 | 6,499 | 6,499 | 11,902 | |||||
Total liabilities | 905,624 | 888,100 | 887,974 | 865,610 | |||||
Equity | |||||||||
Equity attributable to shareholders | 52,256 | 51,397 | 51,987 | 52,957 | |||||
Equity attributable to preferred noteholders | 631 | ||||||||
Equity attributable to non-controlling interests | 176 | 59 | 59 | 39 | |||||
Total equity | 52,432 | 51,429 | 52,046 | 53,627 | |||||
Total liabilities and equity | 958,055 | $ 939,554 | 940,020 | $ 919,236 | |||||
UBS AG (consolidated) | Elimination entries | |||||||||
Assets | |||||||||
Cash and balances at central banks | 0 | 0 | |||||||
Loans and advances to banks | (45,978) | (94,494) | |||||||
Receivables from securities financing transactions | (54,932) | (65,043) | |||||||
Cash collateral receivables on derivative instruments | (12,240) | (12,890) | |||||||
Loans and advances to customers | (21,838) | (46,064) | |||||||
Other financial assets measured at amortized cost | (1,869) | (3,376) | |||||||
Total financial assets measured at amortized cost | (136,857) | (221,868) | |||||||
Financial assets at fair value held for trading | (3,911) | (7,923) | |||||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | (24,714) | (33,727) | |||||||
Derivative financial instruments | (35,972) | (34,883) | |||||||
Brokerage receivables | (2) | ||||||||
Financial assets at fair value not held for trading | (16,566) | (2,546) | |||||||
Total financial assets measured at fair value through profit or loss | (56,451) | (45,352) | |||||||
Financial assets measured at fair value through other comprehensive income | 0 | (3,226) | |||||||
Investments in subsidiaries | (49,922) | (49,916) | |||||||
Property, equipment and software | (24) | 0 | |||||||
Goodwill and intangible assets | (56) | (59) | |||||||
Deferred tax assets | 52 | 0 | |||||||
Other non-financial assets | 14 | (101) | |||||||
Total assets | (243,244) | (320,522) | |||||||
Liabilities | |||||||||
Amounts due to banks | (94,618) | (95,027) | |||||||
Payables from securities financing transactions | (55,008) | (65,043) | |||||||
Cash collateral payables on derivative instruments | (12,118) | (12,890) | |||||||
Customer deposits | 16,994 | (48,192) | |||||||
Debt issued measured at amortized cost | (573) | (730) | |||||||
Other financial liabilities measured at amortized cost | (1,838) | (3,388) | |||||||
Total financial liabilities measured at amortized cost | (147,161) | (225,270) | |||||||
Financial liabilities at fair value held for trading | (3,828) | (7,329) | |||||||
Derivative financial instruments | (36,025) | (34,883) | |||||||
Brokerage payables designated at fair value | (14) | ||||||||
Other financial liabilities designated at fair value | (5,959) | (2,546) | |||||||
Debt issued designated at fair value | (17) | (288) | |||||||
Total financial liabilities measured at fair value through profit or loss | (45,843) | (45,046) | |||||||
Provisions | 83 | 0 | |||||||
Other non-financial liabilities | 47 | (128) | |||||||
Total liabilities | (192,875) | (270,443) | |||||||
Equity | |||||||||
Equity attributable to shareholders | (50,369) | (50,078) | |||||||
Total equity | (50,369) | (50,078) | |||||||
Total liabilities and equity | (243,244) | (320,522) | |||||||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | |||||||||
Assets | |||||||||
Cash and balances at central banks | 36,350 | [20] | 37,497 | [21] | |||||
Loans and advances to banks | 34,063 | [20] | 31,254 | [21] | |||||
Receivables from securities financing transactions | 70,028 | [20] | 62,783 | [21] | |||||
Cash collateral receivables on derivative instruments | 23,136 | [20] | 22,924 | [21] | |||||
Loans and advances to customers | 93,141 | [20] | 109,196 | [21] | |||||
Other financial assets measured at amortized cost | 4,696 | [20] | 17,460 | [21] | |||||
Total financial assets measured at amortized cost | 261,415 | [20] | 281,115 | [21] | |||||
Financial assets at fair value held for trading | 92,784 | [20] | 103,799 | [21] | |||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 49,509 | [20] | 60,038 | [21] | |||||
Derivative financial instruments | 119,590 | [20] | 116,993 | [21] | |||||
Brokerage receivables | [20] | 11,063 | |||||||
Financial assets at fair value not held for trading | 50,592 | [20] | 34,982 | [21] | |||||
Total financial assets measured at fair value through profit or loss | 274,030 | [20] | 255,775 | [21] | |||||
Financial assets measured at fair value through other comprehensive income | 171 | [20] | 3,698 | [21] | |||||
Investments in subsidiaries | 50,971 | [20] | 50,915 | [21] | |||||
Property, equipment and software | 6,546 | [20] | 6,550 | [21] | |||||
Goodwill and intangible assets | 308 | [20] | 302 | [21] | |||||
Deferred tax assets | 533 | [20] | 1,285 | [21] | |||||
Other non-financial assets | 4,623 | [20] | 5,179 | [21] | |||||
Total assets | 598,598 | [20] | 604,818 | [21] | |||||
Liabilities | |||||||||
Amounts due to banks | 36,430 | [20] | 24,991 | [21] | |||||
Payables from securities financing transactions | 36,840 | [20] | 49,407 | [21] | |||||
Cash collateral payables on derivative instruments | 28,096 | [20] | 28,486 | [21] | |||||
Customer deposits | 77,180 | [20] | 86,105 | [21] | |||||
Funding from UBS Group AG and its subsidiaries | 41,202 | [20] | 35,648 | [21] | |||||
Debt issued measured at amortized cost | 82,653 | [20] | 99,069 | [21] | |||||
Other financial liabilities measured at amortized cost | 4,170 | [20] | 29,178 | [21] | |||||
Total financial liabilities measured at amortized cost | 306,571 | [20] | 352,885 | [21] | |||||
Financial liabilities at fair value held for trading | 23,455 | [20] | 24,988 | [21] | |||||
Derivative financial instruments | 119,131 | [20] | 114,331 | [21] | |||||
Brokerage payables designated at fair value | [20] | 26,559 | |||||||
Other financial liabilities designated at fair value | 10,936 | [20] | 6,173 | [21] | |||||
Debt issued designated at fair value | 55,378 | [20] | 48,743 | [21] | |||||
Total financial liabilities measured at fair value through profit or loss | 235,458 | [20] | 194,235 | [21] | |||||
Provisions | 1,361 | [20] | 1,084 | [21] | |||||
Other non-financial liabilities | 1,676 | [20] | 2,039 | [21] | |||||
Total liabilities | 545,067 | [20] | 550,243 | [21] | |||||
Equity | |||||||||
Equity attributable to shareholders | 53,531 | [20] | 54,574 | [21] | |||||
Total equity | 53,531 | [20] | 54,574 | [21] | |||||
Total liabilities and equity | 598,598 | [20] | 604,818 | [21] | |||||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | |||||||||
Assets | |||||||||
Cash and balances at central banks | 53,490 | [20] | 39,461 | [21] | |||||
Loans and advances to banks | 7,405 | [20] | 4,080 | [21] | |||||
Receivables from securities financing transactions | 28,637 | [20] | 35,731 | [21] | |||||
Cash collateral receivables on derivative instruments | 559 | [20] | 714 | [21] | |||||
Loans and advances to customers | 188,013 | [20] | 188,038 | [21] | |||||
Other financial assets measured at amortized cost | 8,564 | [20] | 10,610 | [21] | |||||
Total financial assets measured at amortized cost | 286,667 | [20] | 278,634 | [21] | |||||
Financial assets at fair value held for trading | 62 | [20] | 94 | [21] | |||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 0 | [20] | 0 | [21] | |||||
Derivative financial instruments | 3,834 | [20] | 4,229 | [21] | |||||
Financial assets at fair value not held for trading | 7,177 | [20] | 13,098 | [21] | |||||
Total financial assets measured at fair value through profit or loss | 11,073 | [20] | 17,421 | [21] | |||||
Financial assets measured at fair value through other comprehensive income | 0 | [20] | 810 | [21] | |||||
Investments in subsidiaries | 20 | [20] | 16 | [21] | |||||
Property, equipment and software | 242 | [20] | 94 | [21] | |||||
Goodwill and intangible assets | [21] | 0 | |||||||
Deferred tax assets | 198 | [20] | 432 | [21] | |||||
Other non-financial assets | 1,659 | [20] | 1,758 | [21] | |||||
Total assets | 299,860 | [20] | 299,166 | [21] | |||||
Liabilities | |||||||||
Amounts due to banks | 24,774 | [20] | 21,264 | [21] | |||||
Payables from securities financing transactions | 1,167 | [20] | 1,687 | [21] | |||||
Cash collateral payables on derivative instruments | 35 | [20] | 62 | [21] | |||||
Customer deposits | 245,452 | [20] | 247,554 | [21] | |||||
Debt issued measured at amortized cost | 8,578 | [20] | 8,583 | [21] | |||||
Other financial liabilities measured at amortized cost | 1,454 | [20] | 1,453 | [21] | |||||
Total financial liabilities measured at amortized cost | 281,460 | [20] | 280,604 | [21] | |||||
Financial liabilities at fair value held for trading | 493 | [20] | 257 | [21] | |||||
Derivative financial instruments | 3,510 | [20] | 3,770 | [21] | |||||
Total financial liabilities measured at fair value through profit or loss | 4,004 | [20] | 4,027 | [21] | |||||
Provisions | 163 | [20] | 149 | [21] | |||||
Other non-financial liabilities | 929 | [20] | 851 | [21] | |||||
Total liabilities | 286,556 | [20] | 285,631 | [21] | |||||
Equity | |||||||||
Equity attributable to shareholders | 13,304 | [20] | 13,536 | [21] | |||||
Total equity | 13,304 | [20] | 13,536 | [21] | |||||
Total liabilities and equity | 299,860 | [20] | 299,166 | [21] | |||||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | |||||||||
Assets | |||||||||
Cash and balances at central banks | 18,530 | [22] | 13,086 | [23] | |||||
Loans and advances to banks | 21,151 | [22] | 73,206 | [23] | |||||
Receivables from securities financing transactions | 51,617 | [22] | 58,481 | [23] | |||||
Cash collateral receivables on derivative instruments | 12,148 | [22] | 13,292 | [23] | |||||
Loans and advances to customers | 62,166 | [22] | 77,781 | [23] | |||||
Other financial assets measured at amortized cost | 11,247 | [22] | 13,197 | [23] | |||||
Total financial assets measured at amortized cost | 176,858 | [22] | 249,044 | [23] | |||||
Financial assets at fair value held for trading | 15,578 | [22] | 33,540 | [23] | |||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 7,326 | [22] | 9,966 | [23] | |||||
Derivative financial instruments | 38,760 | [22] | 34,947 | [23] | |||||
Brokerage receivables | [22] | 5,779 | |||||||
Financial assets at fair value not held for trading | 41,184 | [22] | 14,535 | [23] | |||||
Total financial assets measured at fair value through profit or loss | 101,300 | [22] | 83,021 | [23] | |||||
Financial assets measured at fair value through other comprehensive income | 6,495 | [22] | 7,608 | [23] | |||||
Investments in subsidiaries | 31 | [22] | 29 | [23] | |||||
Property, equipment and software | 1,714 | [22] | 1,548 | [23] | |||||
Goodwill and intangible assets | 6,395 | [22] | 6,320 | [23] | |||||
Deferred tax assets | 9,282 | [22] | 8,276 | [23] | |||||
Other non-financial assets | 766 | [22] | 711 | [23] | |||||
Total assets | 302,842 | [22] | 356,559 | [23] | |||||
Liabilities | |||||||||
Amounts due to banks | 44,377 | [22] | 56,499 | [23] | |||||
Payables from securities financing transactions | 27,297 | [22] | 31,435 | [23] | |||||
Cash collateral payables on derivative instruments | 12,894 | [22] | 15,371 | [23] | |||||
Customer deposits | 82,360 | [22] | 137,590 | [23] | |||||
Debt issued measured at amortized cost | 587 | [22] | 535 | [23] | |||||
Other financial liabilities measured at amortized cost | 3,790 | [22] | 10,850 | [23] | |||||
Total financial liabilities measured at amortized cost | 171,305 | [22] | 252,280 | [23] | |||||
Financial liabilities at fair value held for trading | 8,829 | [22] | 13,336 | [23] | |||||
Derivative financial instruments | 39,107 | [22] | 35,920 | [23] | |||||
Brokerage payables designated at fair value | [22] | 11,875 | |||||||
Other financial liabilities designated at fair value | 28,618 | [22] | 13,015 | [23] | |||||
Debt issued designated at fair value | 1,670 | [22] | 2,327 | [23] | |||||
Total financial liabilities measured at fair value through profit or loss | 90,098 | [22] | 64,598 | [23] | |||||
Provisions | 1,850 | [22] | 1,930 | [23] | |||||
Other non-financial liabilities | 3,623 | [22] | 3,736 | [23] | |||||
Total liabilities | 266,876 | [22] | 322,544 | [23] | |||||
Equity | |||||||||
Equity attributable to shareholders | 35,790 | [22] | 33,956 | [23] | |||||
Equity attributable to non-controlling interests | 176 | [22] | 59 | [23] | |||||
Total equity | 35,966 | [22] | 34,015 | [23] | |||||
Total liabilities and equity | $ 302,842 | [22] | $ 356,559 | [23] | |||||
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||||
[2] | Derivative financial liabilities as of 31 December 2018 include USD 0.0 billion related to derivative loan commitments (31 December 2017: USD 0.0 billion). No notional amounts related to these commitments are included in this table, but they are disclosed within Note 34 under Loan commitments | ||||||||
[3] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Refer to Note 25 for more information on netting arrangements. | ||||||||
[4] | PRV: positive replacement value. | ||||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 34 under Forward starting transactions. | ||||||||
[6] | Refer to Note 24c for more information on product type and fair value hierarchy categorization | ||||||||
[7] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. Refer also to Note 10 and Note 23 for more information on expected credit loss measurement | ||||||||
[8] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | ||||||||
[9] | Includes USD 26 million related to leased assets, mainly Own-used properties. | ||||||||
[10] | Less deferred tax liabilities as applicable. | ||||||||
[11] | Prior-period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1b and c for more information on these changes | ||||||||
[12] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | ||||||||
[13] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 28 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||||
[14] | Contractual maturities of financial liabilities at fair value held for trading are: USD 28.3 billion due within one month (2017: USD 30.3 billion), USD 0.6 billion due between one month and one year (2017: USD 0.8 billion) and USD 0 billion due between 1 and 5 years (2017: USD 0.1 billion). | ||||||||
[15] | NRV: negative replacement value. | ||||||||
[16] | As of 31 December 2018 and 31 December 2017, the contractual redemption amount at maturity of other financial liabilities designated at fair value through profit or loss was not materially different from the carrying value. | ||||||||
[17] | As of 31 December 2018, contractual commitments to purchase property in the future amounted to approximately USD 0.3 billion (31 December 2017: approximately USD 0.3 billion). | ||||||||
[18] | Includes USD 22 million related to leased assets, mainly Own-used properties. | ||||||||
[19] | All balances in 2018 are against UBS Group Funding (Switzerland) AG as counterparty. Prior year balances were against both UBS Group AG and UBS Group Funding (Switzerland) AG as counterparties. In May 2018, UBS substituted UBS Group AG where it was the issuer of outstanding AT1 capital instruments with UBS Group Funding (Switzerland) AG. | ||||||||
[20] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | ||||||||
[21] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the “UBS AG standalone financial information” section of this report for UBS AG standalone financial information prepared in accordance with Swiss GAAP. Refer to “Holding company and significant regulated subsidiaries and sub-groups” at www.ubs.com/investors for UBS Switzerland AG standalone interim financial statements prepared in accordance with Swiss GAAP | ||||||||
[22] | Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. | ||||||||
[23] | Following the maturity of the remaining outstanding debt securities issued by PaineWebber in May 2018, we no longer present UBS Americas Inc. separately from other subsidiaries. The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE, UBS Asset Management AG and UBS Limited, as well as standalone information for other subsidiaries. |
Supplemental guarantor consol_4
Supplemental guarantor consolidated statement of cash flows (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [1] | $ 28,913 | $ (52,099) | $ (18,292) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [1] | (287) | (106) | (27) | |||
Disposal of subsidiaries, associates and intangible assets | [1],[2] | 137 | 339 | 94 | |||
Purchase of property, equipment and software | [1] | (1,688) | (1,627) | (1,800) | |||
Disposal of property, equipment and software | [1] | 114 | 47 | 182 | |||
Purchase of financial assets measured at fair value through other comprehensive income | [1] | (1,999) | (8,626) | (7,022) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [1] | 1,361 | 15,250 | 54,433 | |||
Net (purchase) / redemption of debt securities measured at amortized cost | [1] | (3,770) | |||||
Net cash flow from / (used in) investing activities | [1] | (6,132) | 5,186 | 36,637 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [1] | (12,245) | 24,500 | 5,474 | |||
Distributions paid on UBS shares | [1] | (2,440) | (2,259) | (3,241) | |||
Issuance of long-term debt, including debt issued designated at fair value | [1] | 60,682 | 51,450 | 33,703 | |||
Repayment of long-term debt, including debt issued designated at fair value | [1] | (44,344) | (45,187) | (33,902) | |||
Net cash flow from / (used in) financing activities | [1] | 190 | 26,988 | (612) | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [1],[3] | 104,834 | 119,014 | 102,879 | |||
Net cash flow from / (used in) operating, investing and financing activities | [1] | 22,971 | (19,925) | 17,733 | |||
Effects of exchange rate differences on cash and cash equivalents | [1] | (1,726) | 5,745 | (1,598) | |||
Cash and cash equivalents at the end of the year | [1],[3] | 126,079 | 104,834 | 119,014 | |||
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | 108,268 | 89,968 | 105,832 | ||||
of which: loans and advances to banks | 15,678 | 12,773 | 11,749 | ||||
of which: money market paper | [4] | 2,133 | 2,093 | 1,433 | |||
UBS AG (consolidated) | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [1] | 27,744 | (53,147) | (19,172) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [1] | (287) | (106) | (27) | |||
Disposal of subsidiaries, associates and intangible assets | [1],[2] | 137 | 339 | 95 | |||
Purchase of property, equipment and software | [1] | (1,473) | (1,532) | (1,782) | |||
Disposal of property, equipment and software | [1] | 114 | 210 | 182 | |||
Purchase of financial assets measured at fair value through other comprehensive income | [1] | (1,999) | (8,626) | (7,022) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [1] | 1,361 | 15,250 | 54,433 | |||
Net (purchase) / redemption of financial assets held to maturity | [1] | (91) | (9,224) | ||||
Net (purchase) / redemption of debt securities measured at amortized cost | [1] | (3,770) | |||||
Net cash flow from / (used in) investing activities | [1] | (5,918) | 5,444 | 36,655 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [1] | (12,245) | 24,500 | 5,474 | |||
Distributions paid on UBS shares | [1] | (3,098) | (2,219) | (3,589) | |||
Issuance of long-term debt, including debt issued designated at fair value | [1] | 54,726 | 40,270 | 19,786 | |||
Repayment of long-term debt, including debt issued designated at fair value | [1] | (44,344) | (45,187) | (33,902) | |||
Funding from UBS Group AG and its subsidiaries | [1] | 5,956 | 11,180 | 13,917 | |||
Dividends paid and repayments of preferred notes | [1] | (782) | (1,382) | ||||
Net changes in non-controlling interests | [1] | (31) | (5) | (5) | |||
Net activity related to group internal capital transactions and dividends | [1] | 0 | 0 | 0 | |||
Net cash flow from / (used in) financing activities | [1] | 963 | 27,758 | 299 | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [1],[6] | 104,787 | [5] | 118,984 | [7] | 102,797 | |
Net cash flow from / (used in) operating, investing and financing activities | [1] | 22,789 | (19,944) | 17,783 | |||
Effects of exchange rate differences on cash and cash equivalents | [1] | (1,722) | 5,749 | (1,596) | |||
Cash and cash equivalents at the end of the year | [1],[6] | 125,853 | [8] | 104,787 | [5] | 118,984 | [7] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | 108,268 | [1] | 89,968 | 105,832 | |||
of which: loans and advances to banks | 15,452 | [1] | 12,726 | 11,719 | |||
of which: money market paper | [9],[10] | 2,133 | [1] | 2,093 | 1,433 | ||
UBS AG (consolidated) | UBS AG (standalone) | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [11] | (652) | [1] | (35,057) | (28,636) | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [11] | (124) | [1] | 0 | 0 | ||
Disposal of subsidiaries, associates and intangible assets | [2],[11] | 97 | [1] | 291 | 94 | ||
Purchase of property, equipment and software | [11] | (822) | [1] | (1,054) | (1,351) | ||
Disposal of property, equipment and software | [11] | 111 | [1] | 1 | 178 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [11] | (170) | [1] | (234) | (568) | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [11] | 20 | [1] | 3,489 | 25,034 | ||
Net (purchase) / redemption of financial assets held to maturity | [11] | (455) | (518) | ||||
Net (purchase) / redemption of debt securities measured at amortized cost | [1],[11] | (1,000) | |||||
Net cash flow from / (used in) investing activities | [11] | (1,888) | [1] | 2,039 | 22,868 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [11] | (12,295) | [1] | 24,556 | 8,454 | ||
Distributions paid on UBS shares | [11] | (3,098) | [1] | (2,219) | (3,589) | ||
Issuance of long-term debt, including debt issued designated at fair value | [11] | 53,294 | [1] | 39,232 | 17,991 | ||
Repayment of long-term debt, including debt issued designated at fair value | [11] | (42,759) | [1] | (43,605) | (32,219) | ||
Funding from UBS Group AG and its subsidiaries | [11] | 5,956 | [1] | 11,180 | 13,917 | ||
Dividends paid and repayments of preferred notes | [11] | (782) | (1,382) | ||||
Net changes in non-controlling interests | [11] | 0 | [1] | 0 | 0 | ||
Net activity related to group internal capital transactions and dividends | [11] | 3,000 | [1] | 1,264 | (1,356) | ||
Net cash flow from / (used in) financing activities | [11] | 4,098 | [1] | 29,625 | 1,817 | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 41,570 | [5],[11] | 43,495 | [7],[11] | 47,822 | ||
Net cash flow from / (used in) operating, investing and financing activities | [11] | 1,559 | [1] | (3,393) | (3,951) | ||
Effects of exchange rate differences on cash and cash equivalents | [11] | (234) | [1] | 1,466 | (378) | ||
Cash and cash equivalents at the end of the year | [11] | 42,895 | [1],[8] | 41,570 | [5] | 43,495 | [7] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [11] | 36,248 | [1] | 37,420 | 39,779 | ||
of which: loans and advances to banks | [11] | 4,849 | [1] | 2,344 | 2,787 | ||
of which: money market paper | [10],[11] | 1,798 | [1] | 1,806 | 930 | ||
UBS AG (consolidated) | UBS Switzerland AG | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [11] | 14,887 | [1] | (8,742) | (3,918) | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [11] | (5) | [1] | (2) | (3) | ||
Disposal of subsidiaries, associates and intangible assets | [2],[11] | 0 | [1] | 0 | 0 | ||
Purchase of property, equipment and software | [11] | (170) | [1] | (86) | (16) | ||
Disposal of property, equipment and software | [11] | 0 | [1] | 0 | 0 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [11] | 0 | [1] | 0 | (988) | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [11] | 15 | [1] | 1,580 | 22,136 | ||
Net (purchase) / redemption of financial assets held to maturity | [11] | 364 | (8,706) | ||||
Net (purchase) / redemption of debt securities measured at amortized cost | [1],[11] | 2,111 | |||||
Net cash flow from / (used in) investing activities | [11] | 1,951 | [1] | 1,856 | 12,424 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [11] | (3) | [1] | (5) | (7) | ||
Distributions paid on UBS shares | [11] | 0 | [1] | 0 | 0 | ||
Issuance of long-term debt, including debt issued designated at fair value | [11] | 872 | [1] | 631 | 742 | ||
Repayment of long-term debt, including debt issued designated at fair value | [11] | (812) | [1] | (589) | (677) | ||
Dividends paid and repayments of preferred notes | [11] | 0 | 0 | ||||
Net changes in non-controlling interests | [11] | 0 | [1] | 0 | 0 | ||
Net activity related to group internal capital transactions and dividends | [11] | (2,372) | [1] | (194) | (2,019) | ||
Net cash flow from / (used in) financing activities | [11] | (2,315) | [1] | (158) | (1,961) | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 40,961 | [5],[11] | 45,815 | [7],[11] | 40,180 | ||
Net cash flow from / (used in) operating, investing and financing activities | [11] | 14,523 | [1] | (7,043) | 6,544 | ||
Effects of exchange rate differences on cash and cash equivalents | [11] | (726) | [1] | 2,189 | (909) | ||
Cash and cash equivalents at the end of the year | [11] | 54,757 | [1],[8] | 40,961 | [5] | 45,815 | [7] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [11] | 53,490 | [1] | 39,461 | 43,750 | ||
of which: loans and advances to banks | [11] | 1,249 | [1] | 1,492 | 2,058 | ||
of which: money market paper | [10],[11] | 18 | [1] | 7 | 7 | ||
UBS AG (consolidated) | Other subsidiaries | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [11] | 13,509 | [1] | (9,348) | 13,383 | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [11] | (158) | [1] | (104) | (24) | ||
Disposal of subsidiaries, associates and intangible assets | [2],[11] | 40 | [1] | 48 | 0 | ||
Purchase of property, equipment and software | [11] | (481) | [1] | (393) | (414) | ||
Disposal of property, equipment and software | [11] | 3 | [1] | 209 | 3 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [11] | (1,829) | [1] | (8,393) | (5,465) | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [11] | 1,325 | [1] | 10,181 | 7,263 | ||
Net (purchase) / redemption of financial assets held to maturity | [11] | 0 | |||||
Net (purchase) / redemption of debt securities measured at amortized cost | [1],[11] | (4,881) | |||||
Net cash flow from / (used in) investing activities | [11] | (5,982) | [1] | 1,548 | 1,364 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [11] | 53 | [1] | (50) | (2,973) | ||
Distributions paid on UBS shares | [11] | 0 | [1] | 0 | 0 | ||
Issuance of long-term debt, including debt issued designated at fair value | [11] | 560 | [1] | 409 | 1,053 | ||
Repayment of long-term debt, including debt issued designated at fair value | [11] | (772) | [1] | (993) | (1,006) | ||
Dividends paid and repayments of preferred notes | [11] | 0 | 0 | ||||
Net changes in non-controlling interests | [11] | (31) | [1] | (5) | (5) | ||
Net activity related to group internal capital transactions and dividends | [11] | (628) | [1] | (1,071) | 3,374 | ||
Net cash flow from / (used in) financing activities | [11] | (820) | [1] | (1,710) | 444 | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 22,256 | [5],[11] | 29,674 | [7],[11] | 14,795 | ||
Net cash flow from / (used in) operating, investing and financing activities | [11] | 6,707 | [1] | (9,510) | 15,190 | ||
Effects of exchange rate differences on cash and cash equivalents | [11] | (762) | [1] | 2,094 | (310) | ||
Cash and cash equivalents at the end of the year | [11] | 28,201 | [1],[8] | 22,256 | [5] | 29,674 | [7] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [11] | 18,530 | [1] | 13,086 | 22,304 | ||
of which: loans and advances to banks | [11] | 9,354 | [1] | 8,890 | 6,874 | ||
of which: money market paper | [10],[11] | $ 318 | [1] | $ 280 | $ 497 | ||
[1] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial assets previously classified as available-for-sale assets have been reclassified from investing to operating activities as the assets are accounted for at fair value through profit or loss effective 1 January 2018. Refer to Note 1c for more information | ||||||
[2] | Includes dividends received from associates. | ||||||
[3] | USD 5,245 million, USD 2,497 million and USD 2,615 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2018, 31 December 2017 and 31 December 2016, respectively. Refer to Note 26 for more information. | ||||||
[4] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2018: USD 366 million; 31 December 2017: USD 135 million; 31 December 2016: USD 74 million), Financial assets measured at fair value through other comprehensive income (31 December 2018: USD 8 million; 31 December 2017: USD 17 million; 31 December 2016: USD 416 million), Financial assets at fair value not held for trading and Other financial assets measured at amortized cost (31 December 2018: USD 1,760 million; 31 December 2017: USD 1,941 million; 31 December 2016: USD 942 million). | ||||||
[5] | USD 2,497 million of cash and cash equivalents were restricted. | ||||||
[6] | USD 5,245 million, USD 2,497 million and USD 2,615 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2018, 31 December 2017 and 31 December 2016, respectively. Refer to Note 26 for more information. | ||||||
[7] | USD 2,615 million of cash and cash equivalents were restricted. | ||||||
[8] | USD 5,245 million of cash and cash equivalents were restricted. | ||||||
[9] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2018: USD 366 million; 31 December 2017: USD 135 million; 31 December 2016: USD 74 million), Financial assets measured at fair value through other comprehensive income (31 December 2018: USD 8 million; 31 December 2017: USD 17 million; 31 December 2016: USD 416 million), Financial assets at fair value not held for trading and Other financial assets measured at amortized cost (31 December 2018: USD 1,760 million; 31 December 2017: USD 1,941 million; 31 December 2016: USD 942 million). | ||||||
[10] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. | ||||||
[11] | Cash flows generally represent a third-party view from a UBS AG consolidated perspective. |
MD&A - Risk management and co_7
MD&A - Risk management and control - Credit Risk (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Credit Risk [Line Items] | |
Maximum LTV ratio within the standard approval process for any type of mortgage | 80.00% |
Lowest point of maximum LTV ratio for mortgages | 45.00% |
Number of days a material payment is past due to classify standard claims as non-performing | 90 days |
Number of days a material payment is past due to classify a client as in default and standard claims as non-performing | 90 days |
Number of days a material payment is past due to classify a client as in default and standard claims from certain specified counterparty portfolios as non-performing | 180 days |
UBS AG | |
Disclosure of Credit Risk [Line Items] | |
Maximum LTV ratio within the standard approval process for any type of mortgage | 80.00% |
Lowest point of maximum LTV ratio for mortgages | 45.00% |
Number of days a material payment is past due to classify standard claims as non-performing | 90 days |
Number of days a material payment is past due to classify a client as in default and standard claims as non-performing | 90 days |
Number of days a material payment is past due to classify a client as in default and standard claims from certain specified counterparty portfolios as non-performing | 180 days |
MD&A - Risk management and co_8
MD&A - Risk management and control - Credit Risk (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings [text block] | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
UBS AG | |
Disclosure of Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings [text block] | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
MD&A - Risk management and co_9
MD&A - Risk management and control - Market Risk (Narrative) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure of Market Risk [Line Items] | |
Average duration of target replication portfolios for equity, goodwill and real estate in Swiss francs | 3 years 6 months |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in Swiss francs (per basis points) | $ 4 |
Average duration of target replication portfolios for equity, goodwill and real estate in USD | 4 years 6 months |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in USD (per basis points) | $ 13 |
Interest rate sensitivity impact arises from debt investments classified as Financial assets measured at fair value through other comprehensive income to a 1-basis-point parallel increase in the yields of the respective instruments | approximately negative USD 2 million |
Impact on equity due to a 1-basis point increase of underlying LIBOR curves | $ (22) |
Equity instruments held as financial assets at fair value not held for trading and as investments in associates | 2,500 |
Equity instruments held as financial assets at fair value not held for trading | $ 1,400 |
Holding period used to calculate VaR for internal management purpose | 1 day |
Confidence level applied for calculating VaR for internal management purpose. | 95.00% |
Holding period used to calculate regulatory VaR | 10 days |
Confidence level applied for calculating regulatory VaR. | 99.00% |
Risk factor returns used to calculate VaR with 10-day holding period | 10 days |
Holding period used to calculate stressed VaR (SVAR) | 10 days |
Confidence level applied for calculating SVaR | 99.00% |
Historical data set used to calculate regulatory VaR | 5 years |
Historical data set used to calculate SVaR | from 1 January 2007 to the present |
Regulatory threshold for eligible capital | 20.00% |
New threshold for Tier1 capital | 15.00% |
UBS AG | |
Disclosure of Market Risk [Line Items] | |
Average duration of target replication portfolios for equity, goodwill and real estate in Swiss francs | 3 years 6 months |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in Swiss francs (per basis points) | $ 4 |
Average duration of target replication portfolios for equity, goodwill and real estate in USD | 4 years 6 months |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in USD (per basis points) | $ 13 |
Interest rate sensitivity impact arises from debt investments classified as Financial assets measured at fair value through other comprehensive income to a 1-basis-point parallel increase in the yields of the respective instruments | approximately negative USD 2 million |
Impact on equity due to a 1-basis point increase of underlying LIBOR curves | $ (22) |
Equity instruments held as financial assets at fair value not held for trading and as investments in associates | 2,500 |
Equity instruments held as financial assets at fair value not held for trading | $ 1,400 |
Holding period used to calculate VaR for internal management purpose | 1 day |
Confidence level applied for calculating VaR for internal management purpose. | 95.00% |
Holding period used to calculate regulatory VaR | 10 days |
Confidence level applied for calculating regulatory VaR. | 99.00% |
Risk factor returns used to calculate VaR with 10-day holding period | 10 days |
Holding period used to calculate stressed VaR (SVAR) | 10 days |
Confidence level applied for calculating SVaR | 99.00% |
Historical data set used to calculate regulatory VaR | 5 years |
Historical data set used to calculate SVaR | from 1 January 2007 to the present |
Regulatory threshold for eligible capital | 20.00% |
New threshold for Tier1 capital | 15.00% |
MD&A - Risk management and c_10
MD&A - Risk management and control - Market Risk (Detail 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Value At Risk [Line Items] | |||
Management VaR | [1] | $ 12 | $ 10 |
Diversification effect | [1],[2],[3] | (7) | (6) |
Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 10 | 8 |
Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Minimum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Minimum | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Minimum | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Minimum | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
Minimum | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Minimum | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
Minimum | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 26 | 19 |
Maximum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Maximum | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Maximum | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Maximum | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 25 | 18 |
Maximum | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Maximum | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 8 |
Maximum | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 6 |
Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 11 |
Diversification effect | [1],[2],[3] | (7) | (8) |
Average | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Average | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 9 |
Average | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 6 |
Average | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Equity prices | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Diversification effect | [1],[2],[3] | (1) | (1) |
Equity prices | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity prices | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity prices | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity prices | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
Equity prices | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity prices | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity prices | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Equity prices | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 1 |
Equity prices | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 22 | 15 |
Equity prices | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 9 |
Diversification effect | [1],[2],[3] | (5) | (6) |
Interest rates | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Interest rates | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 7 |
Interest rates | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 5 |
Interest rates | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Interest rates | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 6 |
Interest rates | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 12 |
Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 10 |
Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 8 |
Diversification effect | [1],[2],[3] | (4) | (4) |
Credit spreads | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Credit spreads | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
Credit spreads | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
Credit spreads | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
Credit spreads | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Credit spreads | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 8 |
Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 6 |
Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 3 |
Diversification effect | [1],[2],[3] | (1) | (1) |
Foreign exchange | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 2 |
Foreign exchange | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Foreign exchange | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Foreign exchange | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 13 | 5 |
Foreign exchange | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
Commodities | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Diversification effect | [1],[2],[3] | 0 | 0 |
Commodities | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Commodities | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
Commodities | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 7 |
Commodities | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 10 |
Diversification effect | [1],[2],[3] | (7) | (6) |
UBS AG | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 10 | 8 |
UBS AG | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
UBS AG | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
UBS AG | Minimum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Minimum | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Minimum | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Minimum | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
UBS AG | Minimum | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Minimum | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
UBS AG | Minimum | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 26 | 19 |
UBS AG | Maximum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | Maximum | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Maximum | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Maximum | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 25 | 18 |
UBS AG | Maximum | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Maximum | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 8 |
UBS AG | Maximum | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 6 |
UBS AG | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 11 |
Diversification effect | [1],[2],[3] | (7) | (8) |
UBS AG | Average | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Average | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 9 |
UBS AG | Average | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 6 |
UBS AG | Average | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Equity prices | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Diversification effect | [1],[2],[3] | (1) | (1) |
UBS AG | Equity prices | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity prices | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity prices | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity prices | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
UBS AG | Equity prices | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity prices | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity prices | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Equity prices | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 1 |
UBS AG | Equity prices | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 22 | 15 |
UBS AG | Equity prices | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
UBS AG | Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 9 |
Diversification effect | [1],[2],[3] | (5) | (6) |
UBS AG | Interest rates | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Interest rates | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 7 |
UBS AG | Interest rates | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 5 |
UBS AG | Interest rates | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | Interest rates | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 6 |
UBS AG | Interest rates | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 12 |
UBS AG | Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 10 |
UBS AG | Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 8 |
Diversification effect | [1],[2],[3] | (4) | (4) |
UBS AG | Credit spreads | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | Credit spreads | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
UBS AG | Credit spreads | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
UBS AG | Credit spreads | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
UBS AG | Credit spreads | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
UBS AG | Credit spreads | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 8 |
UBS AG | Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 6 |
UBS AG | Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 3 |
Diversification effect | [1],[2],[3] | (1) | (1) |
UBS AG | Foreign exchange | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 2 |
UBS AG | Foreign exchange | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Foreign exchange | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Foreign exchange | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 13 | 5 |
UBS AG | Foreign exchange | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
UBS AG | Commodities | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Diversification effect | [1],[2],[3] | 0 | 0 |
UBS AG | Commodities | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | Commodities | Corporate Center - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Corporate Center - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Corporate Center - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
UBS AG | Commodities | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 7 |
UBS AG | Commodities | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | $ 2 | $ 2 |
[1] | Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total | ||
[2] | As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. | ||
[3] | Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. |
MD&A - Risk management and c_11
MD&A - Risk management and control - Market Risk (Detail 2) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
-200 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | $ (611.1) | $ (205.8) |
-200 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 30.5 | 148.4 |
-200 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 18.1 | 33.8 |
-200 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (573) | (279.6) |
-200 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (89.5) | (108.9) |
-200 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.5) | (32.7) |
-200 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (167.9) | (145.8) |
-200 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (88.2) | (59.1) |
-200 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (355.3) | 27.3 |
-200 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 8.8 | 4.4 |
-100 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (298.5) | (166.8) |
-100 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 15 | 60.5 |
-100 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 9.7 | 18.8 |
-100 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (280.6) | (193) |
-100 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (44.1) | (53.4) |
-100 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.5) | (32.7) |
-100 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (141.3) | (92.9) |
-100 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (56) | (56.8) |
-100 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (96.5) | 14.8 |
-100 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 3.7 | 0.8 |
+1 bp | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 1 | 0 |
+1 bp | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (0.1) | (1.8) |
+1 bp | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (0.1) | (0.2) |
+1 bp | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.9 | 1.5 |
+1 bp | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.4 | 0.5 |
+1 bp | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.8 | 1 |
+1 bp | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.2 |
+1 bp | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.1 |
+1 bp | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0 | (1.4) |
+1 bp | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.1 |
+100 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 33.4 | (6.1) |
+100 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (14.4) | (179.9) |
+100 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.1) | (15.8) |
+100 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 18.8 | 142.3 |
+100 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 39.6 | 47.8 |
+100 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 78.6 | 100.2 |
+100 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 6.9 | 15.6 |
+100 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 11.1 | 11.5 |
+100 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (73.6) | (138.5) |
+100 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 10.4 | 5.2 |
+200 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 13.6 | (27.3) |
+200 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (28.3) | (371.3) |
+200 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (17.1) | (31.6) |
+200 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (9.9) | 287.2 |
+200 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 73.7 | 89.6 |
+200 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 158.6 | 196.2 |
+200 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 15.6 | 31.9 |
+200 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 20.5 | 21.8 |
+200 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (202.3) | (287.8) |
+200 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 21.3 | 10.7 |
UBS AG | -200 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (611.1) | (205.8) |
UBS AG | -200 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 30.5 | 148.4 |
UBS AG | -200 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 18.1 | 33.8 |
UBS AG | -200 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (573) | (279.6) |
UBS AG | -200 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (89.5) | (108.9) |
UBS AG | -200 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.5) | (32.7) |
UBS AG | -200 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (167.9) | (145.8) |
UBS AG | -200 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (88.2) | (59.1) |
UBS AG | -200 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (355.3) | 27.3 |
UBS AG | -200 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 8.8 | 4.4 |
UBS AG | -100 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (298.5) | (166.8) |
UBS AG | -100 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 15 | 60.5 |
UBS AG | -100 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 9.7 | 18.8 |
UBS AG | -100 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (280.6) | (193) |
UBS AG | -100 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (44.1) | (53.4) |
UBS AG | -100 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.5) | (32.7) |
UBS AG | -100 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (141.3) | (92.9) |
UBS AG | -100 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (56) | (56.8) |
UBS AG | -100 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (96.5) | 14.8 |
UBS AG | -100 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 3.7 | 0.8 |
UBS AG | +1 bp | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 1 | 0 |
UBS AG | +1 bp | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (0.1) | (1.8) |
UBS AG | +1 bp | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (0.1) | (0.2) |
UBS AG | +1 bp | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.9 | 1.5 |
UBS AG | +1 bp | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.4 | 0.5 |
UBS AG | +1 bp | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.8 | 1 |
UBS AG | +1 bp | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.2 |
UBS AG | +1 bp | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.1 |
UBS AG | +1 bp | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0 | (1.4) |
UBS AG | +1 bp | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 0.1 | 0.1 |
UBS AG | +100 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 33.4 | (6.1) |
UBS AG | +100 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (14.4) | (179.9) |
UBS AG | +100 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (8.1) | (15.8) |
UBS AG | +100 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 18.8 | 142.3 |
UBS AG | +100 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 39.6 | 47.8 |
UBS AG | +100 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 78.6 | 100.2 |
UBS AG | +100 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 6.9 | 15.6 |
UBS AG | +100 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 11.1 | 11.5 |
UBS AG | +100 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (73.6) | (138.5) |
UBS AG | +100 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 10.4 | 5.2 |
UBS AG | +200 bps | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 13.6 | (27.3) |
UBS AG | +200 bps | of which: Global Wealth Management | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (28.3) | (371.3) |
UBS AG | +200 bps | of which: Investment Bank | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (17.1) | (31.6) |
UBS AG | +200 bps | of which: CC - Group ALM | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (9.9) | 287.2 |
UBS AG | +200 bps | of which: CC - Non-core and Legacy Portfolio | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 73.7 | 89.6 |
UBS AG | +200 bps | CHF | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 158.6 | 196.2 |
UBS AG | +200 bps | EUR | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 15.6 | 31.9 |
UBS AG | +200 bps | GBP | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | 20.5 | 21.8 |
UBS AG | +200 bps | USD | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | (202.3) | (287.8) |
UBS AG | +200 bps | Other | |||
Interest Rate Sensitivity Of Banking Book [Line Items] | |||
Effect on fair value of interest rate-sensitive banking book positions | [1] | $ 21.3 | $ 10.7 |
[1] | In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro, interest rates for Global Wealth Management (excluding Americas) and Personal & Corporate Banking client transactions are generally floored at non-negative levels. Accordingly, for the purpose of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. |
MD&A - Capital management (Narr
MD&A - Capital management (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure Of Capital Management [Line Items] | |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in US Dollar and Singapore Dollar | $ 2.5 |
TLAC-eligible senior unsecured notes issued denominated in Euros and Japanese Yen | 3.4 |
Call of low trigger Tier 2 capital instruments | 1.4 |
Increase (decrease) in fully-applied CET1 capital | 0.6 |
Increase(decrease) in fully-applied loss-absorbing AT1 capital | 2.7 |
Fully-applied loss-absorbing AT1 capital | 12.2 |
Increase in Gone concern loss-absorbing capacity on a fully applied basis | 0.1 |
Gone concern loss-absorbing capacity on a fully applied basis | 37.5 |
Deferred Contingent Capital Plan | |
Disclosure Of Capital Management [Line Items] | |
Increase in high-trigger loss-absorbing additional tier one capital instruments related to DCCP awards granted | $ 0.4 |
MD&A - Capital management (Deta
MD&A - Capital management (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Jan. 01, 2017 | |||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||||
Total IFRS equity | $ 53,103 | $ 52,554 | $ 51,938 | $ 53,586 | ||
Equity attributable to non-controlling interests | (176) | (59) | ||||
Defined benefit plans, net of tax | 0 | 0 | ||||
Deferred tax assets recognized for tax loss carry-forwards | (6,107) | (5,947) | ||||
Deferred tax assets on temporary differences, excess over threshold | (586) | (879) | ||||
Goodwill, net of tax | [1] | (6,514) | (6,646) | |||
Intangible assets, net of tax | (251) | (220) | ||||
Compensation-related components (not recognized in net profit) | (1,652) | (1,662) | ||||
Expected losses on advanced internal ratings-based portfolio less provisions | [2] | (368) | (650) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (109) | (360) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | (397) | 136 | ||||
Unrealized gains related to debt instruments at fair value through OCI, net of tax | (4) | (198) | [3] | |||
Prudential valuation adjustments | (120) | (61) | ||||
Accruals for proposed dividends to shareholders | (2,648) | (2,501) | ||||
Other | (52) | 8 | ||||
Total common equity tier 1 capital | 34,119 | 33,516 | ||||
Goodwill related to significant investments in financial institutions | 176 | 359 | ||||
UBS AG | ||||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||||
Total IFRS equity | 52,432 | $ 52,046 | $ 51,429 | $ 53,627 | ||
Equity attributable to non-controlling interests | (176) | |||||
Defined benefit plans, net of tax | 0 | |||||
Deferred tax assets recognized for tax loss carry-forwards | (6,107) | |||||
Deferred tax assets on temporary differences, excess over threshold | (506) | |||||
Goodwill, net of tax | (6,514) | |||||
Intangible assets, net of tax | (251) | |||||
Expected losses on advanced internal ratings-based portfolio less provisions | (367) | |||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (109) | |||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | (397) | |||||
Unrealized gains related to debt instruments at fair value through OCI, net of tax | (4) | |||||
Prudential valuation adjustments | (120) | |||||
Accruals for proposed dividends to shareholders | (3,250) | |||||
Other | (22) | |||||
Total common equity tier 1 capital | $ 34,608 | |||||
[1] | Includes goodwill related to significant investments in financial institutions of USD 176 million (31 December 2017: USD 359 million) presented on the balance sheet line “Investments in associates. | |||||
[2] | From 1 January 2018, provisions have been calculated in accordance with IFRS 9. Provisions in prior periods have been calculated in accordance with International Accounting Standard (IAS) 39. | |||||
[3] | As of 31 December 2017 related to equity and debt instruments available for sale. |
MD&A - Capital management (De_2
MD&A - Capital management (Detail 2) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Jan. 01, 2017 | |||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||||
Total IFRS equity | $ 53,103,000,000 | $ 52,554,000,000 | $ 51,938,000,000 | $ 53,586,000,000 | ||
Equity attributable to preferred noteholders and non-controlling interest | (176,000,000) | |||||
Defined benefit plans, net of tax | 0 | 0 | ||||
Deferred tax assets recognized for tax loss carry-forwards | (6,107,000,000) | (5,947,000,000) | ||||
Deferred tax assets on temporary differences, excess over threshold | (586,000,000) | (879,000,000) | ||||
Goodwill, net of tax | [1] | (6,514,000,000) | (6,646,000,000) | |||
Intangible assets, net of tax | (251,000,000) | (220,000,000) | ||||
Compensation-related components (not recognized in net profit) | (1,652,000,000) | (1,662,000,000) | ||||
Expected losses on advanced internal ratings-based portfolio less provisions | [2] | (368,000,000) | (650,000,000) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (109,000,000) | (360,000,000) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | (397,000,000) | 136,000,000 | ||||
Unrealized gains related to debt instruments at fair value through OCI, net of tax | (4,000,000) | (198,000,000) | [3] | |||
Prudential valuation adjustments | (120,000,000) | (61,000,000) | ||||
Accruals for proposed dividends to shareholders | (2,648,000,000) | (2,501,000,000) | ||||
Other | (52,000,000) | 8,000,000 | ||||
Total common equity tier 1 capital | 34,119,000,000 | 33,516,000,000 | ||||
UBS AG | ||||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||||
Total IFRS equity | 52,432,000,000 | $ 52,046,000,000 | $ 51,429,000,000 | $ 53,627,000,000 | ||
Equity attributable to preferred noteholders and non-controlling interest | (176,000,000) | |||||
Defined benefit plans, net of tax | 0 | |||||
Deferred tax assets recognized for tax loss carry-forwards | (6,107,000,000) | |||||
Deferred tax assets on temporary differences, excess over threshold | (506,000,000) | |||||
Goodwill, net of tax | (6,514,000,000) | |||||
Intangible assets, net of tax | (251,000,000) | |||||
Expected losses on advanced internal ratings-based portfolio less provisions | (367,000,000) | |||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (109,000,000) | |||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | (397,000,000) | |||||
Unrealized gains related to debt instruments at fair value through OCI, net of tax | (4,000,000) | |||||
Prudential valuation adjustments | (120,000,000) | |||||
Accruals for proposed dividends to shareholders | (3,250,000,000) | |||||
Other | (22,000,000) | |||||
Total common equity tier 1 capital | 34,608,000,000 | |||||
Differences | ||||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||||
Total IFRS equity | 671,000,000 | |||||
Equity attributable to preferred noteholders and non-controlling interest | 1,000,000 | |||||
Defined benefit plans, net of tax | 0 | |||||
Deferred tax assets recognized for tax loss carry-forwards | 0 | |||||
Deferred tax assets on temporary differences, excess over threshold | (80,000,000) | |||||
Goodwill, net of tax | 0 | |||||
Intangible assets, net of tax | 0 | |||||
Compensation-related components (not recognized in net profit) | (1,652,000,000) | |||||
Expected losses on advanced internal ratings-based portfolio less provisions | (1,000,000) | |||||
Unrealized (gains) / losses from cash flow hedges, net of tax | 0 | |||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 0 | |||||
Unrealized gains related to debt instruments at fair value through OCI, net of tax | 0 | |||||
Prudential valuation adjustments | 0 | |||||
Accruals for proposed dividends to shareholders | 602,000,000 | |||||
Other | (30,000,000) | |||||
Total common equity tier 1 capital | $ (489,000,000) | |||||
[1] | Includes goodwill related to significant investments in financial institutions of USD 176 million (31 December 2017: USD 359 million) presented on the balance sheet line “Investments in associates. | |||||
[2] | From 1 January 2018, provisions have been calculated in accordance with IFRS 9. Provisions in prior periods have been calculated in accordance with International Accounting Standard (IAS) 39. | |||||
[3] | As of 31 December 2017 related to equity and debt instruments available for sale. |
MD&A - UBS shares (Narrative) (
MD&A - UBS shares (Narrative) (Detail) - SFr / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of Shares [Line Items] | ||
Par value of shares | SFr 0.1 | SFr 0.1 |
UBS AG | ||
Disclosure of Shares [Line Items] | ||
Par value of shares | SFr 0.1 | SFr 0.1 |